2016 (1) TMI 1113

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....19,Mumbai,the Assessing Officer(AO)has filed the present appeal. Assessee-company,engaged in the business of manufacturing and sale of agricultural equip - ments,filed its return of income on 30.09.2011,declaring income at Rs. 5.28Crores.The AO completed the assessment on 15.02.2013,u/s.143(3) of the Act determining the income of the assessee at Rs. 5.51 Crores. 2.Effective ground of appeal is a....

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....umentary evidences.The FAA called for a remand report (RR)from the AO.The assessee argued before the FAA that it had furnished copies of delivery challans, invoices, store register,details of cheque payment and bank statements in connection with its dealing with JE,that purchases had been made nearly four years ago,that there was no further transaction with JE,that the AO had relied upon the infor....

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....The Authorised Representative (AR) stated that the AO had not proved that entries were not genuine,that the assessee had provided all the necessary details with regard to the transaction to the AO. 5.We have heard the rival submissions and perused the material before us.We find that the AO received certain pieces of information from the STD,that as per the information JE was supplying bogus bills....