TaxTMI 
TaxTMI 
2019 (10) TMI 1427
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....ee) 2. There is a delay of two days in filing of this appeal by the assessee for which assessee has filed a condonation petition alongwith an affidavit explaining the reasons for delay. After hearing both the sides and considering the contents of the condonation application filed alongwith affidavit, the delay is condoned. 3. The grounds raised by the assessee are as under :- 1. That on facts and in law and in the circumstances of the case, the difference between the balances as per the accounts of various trade creditors and the balances reflected in the books of account of the assessee having been fully substantiated there was no legal basis to treat such difference as income chargeable to tax. 2. The Authorities below on facts and....
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....he explanation given by the assessee before him and sustained the addition of Rs. 4,49,317/- made by the AO. 7. Aggrieved with such order of the CIT(A), the assessee is in appeal before the Tribunal. 8. The Ld. Counsel for the assessee strongly challenged the order of the CIT(A) in confirming the addition of Rs. 4,49,317/-. He submitted that it is a case where sundry creditors shown by the assessee is less than the figures given by the respective parties. Further the assessee has paid back amount to the sundry creditors in the subsequent years. He submitted that the AO has not disallowed any purchases and has accepted the trading account, therefore, no addition should have been made. The Ld. Counsel for the assessee filed the followi....
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....A chart was also filed which shows balance, bills and payment made by the firm, which was furnished at page no. 39 of the paper book. (Refer Page No. 39) In case of Amit Textiles, the confirmation was filed at page no. 19 and the difference was only because of goods received in the opening date of next year was duly entered in purchases by the assessee., thus Ld. CIT (A) was wrong on facts on disallowing the same. A chart was also filed which shows bills and payment made by the firm, which was furnished at page no. 39 of the paper book. (Refer Page No. 39). In case of Kunal Tex Fab, the confirmation was filed at page no.21 and the difference was only because of cheques debited in subsequent financial year, thus Ld. CIT(A) was wrong on f....
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....guments made by both the sides, perused the orders of the AO and the CIT(A) and the paper book filed on behalf of the assessee. We have also considered the various decisions cited before us. We find the AO in the instant case made addition of Rs. 4,49,317/- to the total income of the assessee on the ground that there is difference between the balance shown by the assessee and the confirmation received in the case of six parties the details of which is given at para 4 of this order. It is the submission of the Ld. Counsel for the assessee that the figures shown by the assessee is less as compared to the figures in the confirmation given by the sundry creditors. Further the assessee has reconciled the difference in giving reasons and, therefo....