2024 (5) TMI 341

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.... as under: 1. The Ld. CIT(A) erred in law and on facts in confirming the addition of Rs. 3,82,87,633/- being 25% of material purchase. 2. The Ld. CIT(A) erred in law and on facts in confirming the addition of Rs. 3,59,17,968/- being 25% of indirect expenses. 3. Prayer: (i) To set aside the order u/s.259 of the Act, 1961 which is requested to be quashed. (ii) To drop the addition of Rs. 3,82,87,633/- being 25% of material purchase. (iii)To drop the addition of Rs. 3,59,17,968/- being 25% of Indirect Expenses. Facts of the case: 3. The assessee filed his return of income on 30.09.2015 declaring total income of Rs. 73,64,840/-. The assessee is a Government Contractor, and his books of....

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....fter issuing show cause notice on 12.12.2017, the Assessing Officer made following additions: - Rs. 3,82,87,633/- being 25% of Material Purchase of Rs. 15,31,50,553/- - Rs. 3,59,17,968/- being 25% of Indirect Expenses of Rs. 14,36,71,872/- While making these two additions, the Assessing Officer concluded that in the absence of any documentary evidence, the genuineness of expenses could not be verified. 4. Aggrieved with the said order of Assessing Officer, the assessee filed an appeal before Ld.CIT(A). 5. During the proceedings before Ld.CIT(A), the assessee failed to attend after repeated notices. 5.1. Relying on the judgement of the Hon'ble Apex Court in CIT v. B. N Bhattacharjee and Another (10 CTR 354),....

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....f Material Purchase of Rs. 15,31,50,553.50. The AR also submitted details of Indirect Expenses totalling to Rs. 14,36,71,872/- along with ledger accounts of each expense and supporting vouchers. 8. We have heard both the parties and perused the material available on record. Looking to the facts of the case, we find that the assessee had not produced the complete books of accounts along with bills and vouchers and other documentary evidence to substantiate the claim of the assessee before the Assessing Officer. It is quite evident that the material referred by the assessee is relevant to determine the total income and tax liability of the Assessee correctly. Since the Assessee has produced the documents before the Tribunal in support of h....