2016 (11) TMI 1026

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....efects pointed out in the expenses debited to profit and loss account through it has been upheld the rejection of books of accounts u/s 145(3)?" "2. Whether the order of the Tribunal is not perverse on facts as it has ignored the fact that the assessee did not produce before the AO the creditors to discharge its onus of genuineness of the claim of sundry creditors?" 3. Heard learned counsel for the appellant. 4. The observations made by CIT (Appeal) in para 3.3.2 reads as under: "In the light of the above legal and factual aspect, my relevant findings cum conclusion are being summarized, in following manner:- (a) As far as nature of trading liability of Rs. 58,87,032, is concerned, from the relevant records, it is found that the sam....

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....has failed to discharge the above onus as he could not substantiate her action with necessary supporting material as such. In the case, she has simply arrived at the adverse conclusion as there was no compliance to summons issued to the creditors and the requisite confirmations were not submitted by the assessee. However, since, the prime onus was lies on the AO, therefore, it is felt that it was she who had to bring the positive and cogent evidence, in support of her stand. Moreover, as claimed by the appellant and also from the perusal of relevant assessment record, it is also found that the assessee did submit the confirmations of account of such creditors on 07.12.2012, the purported date of assessment order. However, it is difficult to....