2021 (2) TMI 1310

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.... Rs.13,67,670/-. Ground No. 2 relates to disallowance of expenses of Rs.89,285/- paid for Milgine expenses, Octroi and freight expenses. Ground No.3 relates to addition of advances against sales/goods of Rs.3,00,000/-. 3. Assessee is in second round before this Tribunal. In respect of the above three grounds, Shri Yogesh B. Shah, Learned Counsel for the assessee has submitted written submissions before the Bench. He did not argue verbally before the Bench, however, he told the Bench that he relied on the written submissions furnished by him. The said written submissions are reproduced below: "Provisions of Section 44AB for compulsory Audit of books of accounts were applicable in our case, as turnover exceeded Rs 40 lacs and as s....

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.... such a certificate should ordinarily be treated with the same consideration that would be given to a certificate given in the case of a company i.e books of accounts, voucher should not be called for either in the case of public company or in the case of private companies where the accounts have been audited by an auditor qualified to audit a public company's account and he has given a certificate, similar to that given in the case of a public company." 4. Ms. Anupama Singla, Learned Departmental Representative for the Revenue has relied on the order passed by the ld. Commissioner of Income Tax (Appeals). She has contended that even in second round, the assessee has failed to produce books of accounts, vouchers, bills and Bank State....