2014 (8) TMI 938

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....usiness of manufacturing of corrugated boxes. Assessee filed its return of income for A.Y. 08-09 on 29.08.2008 declaring net loss of Rs. 78,03,637/-. The case was selected for scrutiny and thereafter the assessment was framed u/s. 143(3) vide order dated 30.04.2010 and total loss was determined at Rs. 17,53,110/-. Aggrieved by the order of A.O, Assessee carried the matter before CIT(A). CIT(A) vide order dated 09.01.2013 dismissed the appeal of the Assessee. Aggrieved by the order CIT(A), Assessee is now in appeal before us and has raised following effective ground. 1. In law and in facts and circumstances of the Appellant's case, the learned Commissioner of Income-tax (Appeals) has grossly erred in confirming addition to job work in....

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.... & Loss A/c, The assessee was requested by the AO to submit the reconciliation statement for short credit of income. The assessee did not submit any reconciliation statement till date of passing the assessment order. In view of the same an amount of Rs. 7,30,022/- was added to the total income of the assessee. The appellant besides just raising the ground has not tried to reconcile the receipts shown by it with the receipts as per the TDS Certificates submitted by it. Several opportunities have been provided by the AO during the assessment proceedings as well by the undersigned in the present proceedings, but the appellant clearly has no explanation. The addition made by the AO is perfectly justified under the circumstances and is confirmed....