2019 (8) TMI 509

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....e is engaged in the business of running a Rice mill and filed the Return of Income on 27.09.2014 with total income of Rs. 19,41,490. Subsequently, the case was selected for scrutiny and the Assessing Officer issued Notice under Section 143(2) & 142(1) of the Act along with Questionnaire. The main business of the assessee is rice milling and procure paddy from various locations and process it to produce Rice. During the course of assessment proceedings the assessee submitted Books of accounts and copy of VAT Returns whereas the Assessing Officer on perusal of the records, found that the assessee could not furnish the confirmation in regard to sundry creditor of Rs. 1,62,654 from Sukhjika Industries, Hyderabad. Hence applied the provisions of....

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....filed by the assessee being confirmation letter from the creditor under Rule 46A of the I.T. Rules with the observation that the assessee has failed to produce the documents before the Assessing Officer and hence rejected the additional evidence and confirmed the penalty levied by the Assessing Officer and dismissed the assessee's appeal. Aggrieved by the order of the learned CIT(Appeals), the assessee has filed an appeal with the Tribunal. 4. On the issue of levy of penalty, the learned Authorised Representative has relied on the judicial decisions and submitted Paper Book and filed written submissions. The contention of the learned Authorised Representative that the assessee is not to appeal against the assessment order under Sectio....