2019 (4) TMI 1374

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....ot accepting sundry creditors or Rs. 4,15,598/- without any base. 2. The brief facts of the case are that assessee filed return of income on 29.9.2012 declaring loss of Rs. 1,73,420/-. The case was selected for compulsory scrutiny and system. The notice u/s. 143(2) of the Income Tax Act, 1961 (In short "Act") dated 26.9.2014 was issued. Again notices u/s. 143(2)/142(1) of the Act were also issued on 12.8.2015 to the assessee. Further, notice u/s. 142(1) of the Act, alongwith detailed questionnaire was issued to the assessee on 12.10.2015 and in compliance to the same, requisite details / evidences were filed which were considered during the course of assessment proceedings. Computerized books of accounts produced alongwith the bills and ....

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....ounting to Rs. 1064650/- is concerned, I note that this creditor has been created On account of purchases made during the year. The assessee has failed to provide the complete details in respect of the said creditor during the assessment proceedings and therefore the same has remained unverified. It has been claimed that sales of Rs. 856131/- have been made to the said entity in FY 2013-14 and cash payments have been made for Rs. 208469/- in FY 2014-15 to square up the credit. It is clearly observed by the AO that the assessee has failed to furnish supporting documents to prove the genuineness of sundry creditor. The submission of assessee for making sale and cash payments to it in subsequent FYs. has remained unsubstantiated and is with....