2018 (8) TMI 2019

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....Patel & Shri Sanjay Parekh ORDER PER R.C.SHARMA (A.M): These are cross appeals filed by Revenue and assessee against the order of CIT(A) for assessment years 2008-09 and 2011-12 in the matter of order passed u/s.143(3) r.w.s. 147 of the Income Tax Act (hereinafter "the Act"). 2. Rival contentions have been heard and record perused. The brief facts of the case are that the assessee is e....

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....ed by learned AR that assessee had filed following documents and information before the lower authorities. * Copy of Ledger Account and confirmation of Mayank Impex and Nazar Impex Pvt. Ltd. * Copies of Invoice cum delivery Challan issued by Mayank Impex and Nazar Impex Pvt. Ltd. * Copies of Bank Statement highlighting the payment made to - Mayank Impex and Nazar Impex P....

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....rt sale, accordingly, CIT(A) was not justified in making addition of 1% on account of VAT. 7. On the other hand, learned DR relied on the order of the AO. 8. We have considered rival contentions and carefully gone through the orders of the authorities below and found from record that assessee is engaged in manufacturing and export of diamonds. During the course of assessment, assessee has fi....