2017 (5) TMI 717

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.... with section 254 of the Income Tax Act, 1961. (for short 'the Act') ITA No. 5591/MUM/2013 (Assessment Year: 2005-06) 2. Brief facts of the case are that the assessee company filed its return of income for the assessment year under consideration declaring the total income of Rs. 21,31,650/-. The return was processed u/s 143(3) of the Act and after making certain disallowances including disallowance of Rs. 51,86,235/- on account of unexplained expenditure u/s 69C r.w.s.133(6) of the Act. In first appeal, the Ld. CIT(A) confirmed the said disallowance. Against the order of the Ld. CIT(A), the assessee preferred second appeal before the ITAT. The ITAT set aside the issue to the file of AO for fresh adjudication in the light of the additi....

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....O as under and as confirmed by the CIT (A) may be deleted: a) The Best- Rs. 2,83,511/- b) M/s S & S Exim- Rs. 4,165/- c) M/s Parasuram M. Badi - Rs. 8,319/- B) General 3) The above grounds of appeal are without prejudice to one another and the appellant craves leave to add, alter, amend, delete or modify any of the above grounds of appeal." 4. Before us, the Ld. counsel for the assessee submitted that the assessee does not want to contest the addition of Rs. 4,165/-and Rs. 8,318/- made on account of purchases made from M/s S & S Exim and M/s Parasuram M. Badi respectively, for the reason that the amounts are too small. As regards the addition of Rs. 2,83,511/-made on account of purchases from The Best, the Ld. counsel subm....

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....ties concerned. After considering the explanation of the assessee the AO determined the difference at Rs. 22,80,512/-. In the first appeal the Ld. CIT(A) deleted the addition of Rs. 19,84,682/- following the principles of law laid down by the Hon'ble Bombay High Court in M/s Nikunj Eximp Enterprises Pvt. Ltd. ITA No 5604 of 2010 dated 17.12.2012, however, confirmed the remaining addition of Rs. 2,95,995/-. 7. The assessee's grievance against the addition of Rs. 2,83,511/-made on account of purchases from The Best. The contention of the assessee is that the difference in question has occurred due to the reason that cheque dated 19.5.2004, 20.7.2004 and 12.5.2005 for Rs. 4,850, Rs. 2,50,000/- and Rs. 10,161/- were not honoured and one bill....