2017 (4) TMI 873

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....6.01.2013 determining income of the assessee at Rs. 79.02 lakhs. 2. Vide its application dated 18.4.2016 the assessee has requested to admit additional evidences as per Rule 29, ITAT Rules, 1963.In its application the assessee has stated that a copy of invoices of fixed assets purchased during the year aggregating to Rs. 88.15 lakhs could not be produced before the First Appellate Authority (FAA), that the FAA had rejected the additional invoices of Rs. 49.60 lakhs submitted before him as additionall evidence, that the evidence would go to the root of the issue.Assessee has referred to the cases of Suhasini Goenka (216ITR518) and Satya Sethia(143ITR486) alongwith the application, the assessee has furnished a chart showing details of deprec....

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....it complete evidence in the shape of bills and vouchers to prove the genuineness of the additions made to the block of assets.In response to the show cause notice,the assessee expressed its difficulty to produce the details called for.It was contended that subsequent to the filing of return there was change in the management of the company, followed by change in employees handling the work. The AO further directed the assessee to submit the relevant evidence.The assessee produced ledger account of the parties from whom the assets were purchased and bank statements evidencing the payment made to them. As the assessee had not produced the evidences to prove the genuineness of purchase of assets the AO allowed depreciation of Rs. 29.65 lakhs a....

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.... the enhancement notice the assessee had argued that the AO had allowed depreciation of Rs. 15.45 lakhs in respect of fixed assets/additions of Rs. 80.56 lakhs based on the vendors name appearing in the bank statement, the AO had verified the bank account and had allowed the depreciation.He further observed that before claiming any deduction the onus was on the assessee to produce complete evidences before the AO, that the assessee had failed to submit documentary evidences regarding the purchase of plant and machinery as well as furniture and fixtures, that the AO had inadvertently allowed the depreciation without verifying the facts. The assessee had stated that AO had made disallowance of Rs. 15.45 lakhs in place of Rs. 23.71 lakhs as me....

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.... through credit card based on information of the AIR statement. During the assessment proceedings the AO found that as per the AIR information, the assessee had made credit card payments of Rs. 3.17 lakhs to American Express Banking Corporation. He directed the assessee to explain the source of the payments. In response to the show cause notice, the assessee submitted the details of Rs. 2.23 lakhs out of the total expenditure incurred by it. The AO disallowed the remaining amount i.e. Rs. 93, 945/- and added that the same to the taxable income of the assessee. 5.1. During the appellate proceedings, before the FAA, the assessee argued that credit card expenses mentioned in the statement were towards reimbursements made to one of its employe....