2021 (3) TMI 760

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....Vide an order dated 06.02.2020, Applicant's appeal for A.Y. 2013-14 was disposed of as dismissed. The brief facts of the case are that the assessee was engaged in the business of wholesale of ferrous and nonferrous metal and alloys. During the course of scrutiny assessment, the Assessing Officer found that the assessee has paid commission totaling to Rs. 4,37,370/- to the following parties which were claimed as expenditure: (i) Shri Jiten N Shah of Rs. 2,19,255/- (ii) Shri Narendra G Shah of Rs. 2,18,11s/- The Assessing Officer issued a notice u/s 133(6) in order to verify the Applicant's claim of commission expenditure. The said notice u/s 133(6) returned unserved as the said parties were out of ....

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....n consideration of evidence and material on record and adhoc disallowance of validly claimed expenses. In the course of hearing on 05.02.2020 before your Honours, Authorised Representative ('AR") of the assessee tendered a copy of the abovementioned paperbook dated 13.11.2018 submitted in the course of hearing before the CIT(A) which established the identity of the parties and genuineness of the transaction. The AR in the course of her arguments, ran through this paperbook demonstrating that the credit notes, PAN and bank statements of the alleged non genuine parties were submitted before the CIT(A). She also argued that the finding of the Ld. CIT(A) that 'the identity, address or confirmations of the alleged non genuine parties cou....