TaxTMI 
TaxTMI 
2024 (2) TMI 700
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....013-14. The impugned order was emanated from the order of the ld. Income Tax Officer, Ward-48(3), Kolkata (in brevity the 'AO') passed u/s. 144 of the Act dated 17.03.2016. 2. The assessee has taken the following grounds of appeal: (1) For that the Ld. CIT(A) was wrong and erroneous both on facts as well as in law in alleging that no response or submission was received for the reason that the appellant submitted written submission alongwith document on 27-03-2017, paper book on 23-02-2018, letter with regard to remand report on 22-05- 208 letter on 28-09-2018 with regard to non compliance to hearing fixed on 26-09-2018 owing to receipt of notice on 28-09- 2018, letter on 31-01-2019 explaining the difficulty in complying to dated....
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....but the sundry creditors are remained unverified and on the basis of non-verification, the opening balance of the sundry creditors was added back, which was amounting to Rs. 2,04,23,945/-. Aggrieved, the assessee filed appeal before the ld. CIT(Appeals) and ld. CIT(Appeals) after considering the remand report from the ld. Assessing Officer, rejected the grounds of assessee. The only reason of the rejection of sundry creditors was that the sundry creditors have not made any response in relation to the issuance of notice or process of verification of the Revenue. Being aggrieved to the order of ld. CIT(Appeals), the assessee filed appeal before us. 4. The ld. A.R. vehemently argued at the time of hearing before us and filed written submiss....
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....ger copy and details of Track Events of India Post 1 to 3 2. Reply of notice u/s. 133(6) of A.K. International to ITO 48(3). Ledger copy and details of Track Events of India Post. 4 to 6 3. Reply of notice u/s. 133(6) of R.S. traders to ITO 48(3). Ledger copy and details of Track Events of India Post. 7 to 9 4. Reply of notice u/s. 133(6) of T.S. Enterprises to ITO 48(3). Ledger copy and details of Track Events of India Post. 10 to 12 5. Reply of notice u/s. 133(6) to ITO 48(3), copy of acknowledgement (Lokenath Enterprises) 13-14 6. Ledger copy of Bharat Steel Industries 15 7. Ledger copy of Vaishnab Enterprise 16 8. Ledger copy of Royal Tube Corporation 17 9. Reply of....
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....below:- "You are already requested to substantiate your claim regarding creditors with supporting evidence. Therefore, you are further requested to let the undersigned know why these types of transactions will not be treated as bogus transactions in you liability side, if you fails to explain the real existence & credit worthiness of the sundry creditors it will be treated as your undisclosed income and added back with your total income at the time of assessment. Submit your reply before the undersigned within 2(Two) working days from the date of receipt of this letter, failing which your case will be decided without further reference to you and Rs. 2,04,23,945 is added with your total income as unexplained sundry creditor....
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....ome of the sundry creditors had duly replied through 133(6) notice before the ld. Assessing Officer, but which are taken care in the hearing before the Bench. The assessee is registered under the West Bengal VAT Act, 2003/CST Act, 1956. There is no such enquiry done by the Revenue or any negative comment was received from the indirect tax authority related to purchase of the goods. There is no such significant effort that inquiry was done from the end of the VAT Authority also. There is no discrepancy in the purchase of goods or payment. Only the opening balance was added to the total income of the assessee. We also rely on the order of the Coordinate Bench of ITAT in assessee's own case. In our considered view that the assessee is protecte....