2020 (2) TMI 1650

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....e Income Tax Act, 1961 (in short the 'Act') dated 31/12/2009. 2. Since these two appeals pertain to the same assessee, common and identical issues are involved, therefore these have been clubbed and heard together and a consolidated order is being passed for the sake of convenience and brevity. 3. At the time of hearing none appeared on behalf of assessee in spite of issuance of notice for hearing more than one occasion and Ld. Departmental Representative(DR), was present for the appellant Revenue. In the absence of any appearance by the assessee, the appeal is being disposed of ex parte qua the assessee, after hearing Ld. DR for the Revenue on merits in terms of Rule 24 of the Income Tax Appellate, Tribunal, Rules, 1963. 4. First ....

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....ourt with regard to binding nature of the Circular and laid down that when a circular issued by the Board remains in operation then the Revenue is bound by it and cannot be allowed to plead that it is not valid or that it is contrary to the terms of the statute. The appeal under consideration has certainly been filed contrary to the Circular issued by the CBDT Circular No.17 dated 08.08.2019 8. In the event, the Revenue finds at a later point of time that the tax effect in the appeal is more than Rs.50 lakhs or despite low tax effect the appeal of the revenue is maintainable, the revenue is at liberty to move this Tribunal for recalling of this order. 9. In view of the above, we hold that the appeal filed by the Department, against th....

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.... 17 to 29 of his order wherein he analyzed the individual sundry creditors and reached on conclusion based on the findings and documents submitted by the assessee. Having scrutinized the individual creditors, the ld. CIT(A) deleted some of additions where he found that the assessee has submitted documents confirmation and proof in respect of sundry creditors.For balance creditors wherein the ld. CIT(A) noticed that the assessee has failed to file a requisite documents statement and confirmation and proof of existence of sundry creditors, he sustained the addition made by Assessing Officer. We have gone through the detailed reasoning given in the appellate order vide page no. 17 to 18 of the ld. CIT(A)'s order and we note that the conclusion....