TaxTMI 
TaxTMI 
2016 (9) TMI 1142
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....e addition of Rs. 2,89,20,989/- towards unexplained sundry creditors without appreciating that the assessee had failed to discharge the onus cast upon it to prove the genuineness, creditworthiness and identity of the creditors. 2. Whether in the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in law in deleting the disallowance of Rs. 5 lacs towards commission allegedly paid to Mrs. Urvashi Maheshwari (Rs. 2 lacs) and Shri Vinod Maheshwari (Rs. 3 lacs) ignoring the fact that the assessee failed to prove the services, if any, rendered by them as per provisions of Section 37 of the IT Act, 1961. 3. That the appellant craves leave to add, modify and/or delete any ground(s) of appeal....
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....vidences were relied upon:- i. Paswara Impex Ltd : Rs. 1,40,00,000 : "Paswara Impex Ltd has vide Letter dated 6.12.2011 (filed on Dak counter on 7.12.2011) has confirmed directly to the Learned A.O. in response to Notice u/s 133(6) of the Income Tax Act, 1961 dated 29.11.2011 along with the Confirmation of Account; copy of Statement of Income for Asstt. Year 2009-10; copy of Acknowledgement of Income Tax Return for Asstt. 2009-10 and copy of Bank Account. Copy again been placed at Page No 15 to Page No 22 for your honour's kind consideration. ii. Petrolube India Ltd. Rs. 1,49,20,989: Petrolube India Ltd. has vide Letter dated 7th December 2011 has confirmed directly to the Learned A.O. in response to ....
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....1,49,20,989 at page No.27 4. Ajanta Transport, Kolkata Rs.6,52,077 at Page No28 to Page No. 29 5. United Enterprises Kolkata Rs.7,17,411 at Page No. 30 Rs.3,05,62,068 4.1. Accordingly, after confronting these evidences to the AO and obtaining a Remand Report, the addition was deleted. Aggrieved by which, the Revenue is in appeal before the Tribunal. 5. The Ld. Sr. DR submitted that the Revenue is aggrieved by the deletion of the additions qua the parties mentioned at serial No. 2 and 4. Reliance is placed upon the assessment order. 6. The Ld. AR relying upon the impugned order and the synopsis filed, submitted that the ICICI Bank at serial No. 2 is a bank and the....
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....f a response to notice under section 133(6) from M/s Ajanta Transport, Kolkata, the assessee has explained it by stating that the notice was sent to an incomplete address. The same has been confirmed by the said party and the evidences have also been confirmed by way of an email. In the absence of any infirmity pointed out by the Revenue, the Departmental ground is dismissed. 8. The facts related to the next issue are that it was noticed that a commission of Rs. 2 Lacs was paid to Mrs. Urvashi Maheshwari and Rs. 3 Lacs to Sh. Vinod Maheshwari. The AO required the assessee to show their qualifications and to produce these persons in order to justify the services rendered by them before him. Though the confirmations were received independe....
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.... submitted are at Paper Book page 51 and 52 and the details of the sales made through Mrs. Urvashi Maheshwari are available at paper book page 53. All these have been confronted to the AO and have been available before the CIT(A) as well as in the Paper Book on record and these have not been assailed by the Revenue. Accordingly the addition on facts it was submitted was wrongly made and has correctly been deleted by the CIT(A). 12. We have heard the rival submissions and perused the material available on record. On considering the same, it is seen that Sri Vinod Maheshwari and Mrs. Urvashi Maheshwari at the relevant point of time aged 40 and 38 are stated to have 20 years and 12 years experience in dealing in petroleum products and their....