2018 (8) TMI 1744

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.... out of the order of the Learned Commissioner of Income Tax(Appeals)-12, Kolkata [in short the ld CIT(A)] in Appeal No. 436/CIT(A)- 12/Kol./Circle-42/Msd./2014-15 dated 10.08.2016 against the order passed by the DCIT, Circle-Murshidabad [ in short the ld AO] under section 143(3) of the Income Tax Act, 1961 (in short "the Act") dated 27.03.2014 for the Assessment Year 2011- 12. 2. None appeared on....

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....served that the assessee had borrowed loans from the following persons:- Sanjoy Kumar Sarda Rs. 5,91,629/- Suvendu Kumar Sarda  Rs 4,41,638/- J D Rathi  Rs 5,63,400/- Ratanlal Behni Rs. 1,12,000/- B J Construction Rs. 14,49,700/- Total Rs. 31,58,367/- The ld AO sought to verify the veracity of these loan creditors by issuing notice u/s 133(6) of the Act calling for various d....

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....actum of giving loans to the assessee i.e much before the completion of the assessment by the ld AO and hence he held that the observation of the ld AO that no reply was received from loan creditors was factually wrong. With these observations, he deleted the addition made u/s 68 of the Act. Aggrieved, the revenue is in appeal before us. 3.3. We have heard the ld DR. We find that the ld CITA had ....

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....4.1. The brief facts of this issue is that the assessee had contracted work with subcontractors M.D.Construction and M/s Pratibha Electronic Works amounting to Rs. 89,61,050/- and Rs. 11,11,111/- respectively totaling to Rs. 1,00,72,161/- and made payment thereon without deduction of tax at source u/s 194C of the Act. Accordingly, the ld AO proceeded to make disallowance u/s 40(a)(ia) of the Act t....