2019 (5) TMI 1330

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....aya Parashar, Ms. Mekhala Benny & Ms. Umang Luthra, Advocates. O R D E R 1. The present appeal by the Revenue is directed against an order dated 21st December 2017 passed by the Income Tax Appellate ('ITAT') in IT (SS) No.22/Del/2013 for the block period 1989-90 to 1999-2000. 2. By the impugned order, the ITAT set aside the assessment order passed on 30th December 2011 by the Assessing Of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....'ble ITAT was correct in restoring the issue on account of addition of unexplained expenditure based on seized document amounting to Rs. 25,43,192/- to the file of the AO despite the fact that the assessee failed to substantiate its claims despite several opportunities both before the AO as well as the CIT(A) wherein additional evidence was also admitted?" 4. Relevant to the above issue, th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nts submitted by the assessee. In our opinion, the trial balance dated 05/12/1998 and Ledger of parties, which were not audited by any Chartered Accountant, cannot be reconciled in isolation. The assessee was required to produce complete books of accounts and vouchers of M/s Rashiwa International Ltd., so that the Revenue Authorities could reconcile the name of the parties and amount appearing in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../s Rashiwa International Ltd., need to be examined thoroughly." 5. We have heard learned counsel for the parties. It is seen that the ITAT remanded the matter to the AO was after examining the complete books of accounts and vouchers of M/s. Rashiwa International Ltd. asked to be produced by the Assessee. The ITAT was of the view that the exercise of reconciling the amounts appearing in the seiz....