2015 (11) TMI 1874

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.... the assessee is directed against the order of the Commissioner of Income Tax (Appeals), Salem, dated 04.07.2014 and pertains to assessment year 2007-08. 2. Shri G. Baskar, the Ld.counsel for the assessee, submitted that the assessee is engaged in the business of manufacturing and sale of sago, starch from tapioca. In the course of her business activity, the assessee purchased tapioca from vari....

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....y on the ground that there is no reference about the middlemen for purchasing tapioca. During the assessment proceedings, the assessee in fact furnished name and address of the middlemen engaged by her in purchasing tapioca. In fact, one R. Mani and K. Shanmugam appeared before the Assessing Officer and they were examined by the Assessing Officer. These two persons confirmed the role played by the....

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....n. In the absence of verifiable details, according to the Ld. D.R., the Assessing Officer made addition under Section 68 of the Income-tax Act, 1961 (in short 'the Act'), which was rightly confirmed by the CIT(Appeals). 4. I have considered the rival submissions on either side and perused the relevant material on record. From the order of the CIT(Appeals) it appears that the CIT(Appeals....

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....ter examine the reply given by the assessee and has to record a finding why he is not accepting the explanation of the assessee. Merely because the Assessing Officer concluded that engagement of middlemen is not acceptable to him, that cannot be a reason for the CIT(Appeals) to accept the conclusion reached by the Assessing Officer. This Tribunal is of the considered opinion that the CIT(Appeals) ....