TaxTMI 
TaxTMI 
2016 (11) TMI 594
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....e return of income for AY 2008-09 declaring total income of Rs. 7,34,856/- was filed by the assessee on 30/09/2008. The case was reopened. Accordingly, after serving statutory notices and seeking reply from the assessee, the order of assessment was passed under section 147 r.w.s 143(3) of the Income Tax Act 1961, thereby making addition. 3. Aggrieved by the assessment order the assessee preferred appeal before the Ld. CIT(A) and the Ld. CIT(A) after considering the case of both the parties had dismissed the appeal vide order dt. 16/07/2012. 4. Aggrieved by the order of Ld. CIT(A) the assessee preferred the appeal before us on the ground mentioned herein below: 1. The Ld. CIT(A) erred in deciding the appeal filed by your appellant a....
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....t was further submitted by Ld. AR that the last date of hearing dt. 23/04/2012 was not noted down by the staff of Chartered Accountant's office and therefore due to lack /over sightedness the hearing was not taken place which is otherwise obeyed by either attended or seeking adjournment by the assessee. 6. On the other hand Ld. DR submitted that the assessee intentionally did not appeared before the Ld. CIT(A) and had been delaying the appeal one pretext or other. 7. We have heard the rival submissions and also perused the orders passed by lower authorities. We have also noted down that initially case was fixed for hearing on 28/03/2012 and the assessee had requested for Adjournment. The matter was adjourned to 23/04/2012 but no one a....
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....nt for one site and start work on another site. So in some site show Advance and in some site it shown outstanding. The company accepts the final bill only n completion of work. Also, as the bill amount is finalized after the bill is sent and corrections made in quantities and rates of materials which are not standard. Agreed we are not able to finalize the exact amount until the bill is cleared. That unbill amount show in Book as Work in progress. TDS Deduction on Advance Paid. Is higher than bill amount. Total TDS Deduction a) Amalgamated Bean Coffee Trading Co. Ltd. 2,32,595/- b) Liladhar Pasco Forwarders Pvt. Ltd. 59,836/- Total 2,92,431/- 2) Work in Progress: I am received advance....
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....rd. It is further submitted that unbilled amount shown in books as work in progress and TDS deduction and advance paid is higher than the bill amount. Ld. AR lastly submitted that the assessee has been following mercantile basis of accounting and had received advance from M/s Amalgamated Bean Coffee Trading Co. Ltd. of Rs. 28,94,843/-. In this respect Ld. AR submitted that the assessee followed mercantile basis of accounting and had received advance from M/s Amalgamated Bean Coffee Trading Co. Ltd. of Rs. 1,02,64,469/- for various sites out of which work was completed and bill raised of Rs. 73,69,626/- and the same amount is offered for tax. It is further submitted that there is no loss of Revenue to the department as the balance of Rs. ....