TaxTMI 
TaxTMI 
TaxTMI 
2025 (7) TMI 1739
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....ax Act, 1961 (hereinafter referred to as "the Act") dated 20.03.2015 and u/s 271(1)(c) dated 29.09.2015 by the Assessing Officer, ACIT, Circle-22(2), New Delhi (hereinafter referred to as "ld. AO"). Since these are quantum and penalty appeals, they are heard together and disposed of by this common order for the sake of convenience. ITA No. 9188/Del/2019 - Quantum proceedings- Revenue Appeal 2. The revenue has raised the following grounds of appeal before us:- "1. Whether in facts and circumstances of the case, the Ld. CIT(A) was right in allowing the submission of additional evidences by the assessee company without proper appreciating the facts and findings of AO during the course of proceedings. assessment 2. Whether on the facts ....
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....13, second floor, sector 5, Panchkula, Haryana which fact was not intimated to the income tax department by the then directors of the assessee company. Further, the two directors Mr. Om Prakash and Mr. Ramesh Chander also resigned from the directorship of the assessee company with effect from 13-9-2013 and in their place Mr. Bishan Das and Mr. Jatinder Singh were appointed directors of the assessee company and that they were not aware of the fact that the shifting of the office to Panchkula was not informed to the income tax department. All these factors collectively contributed to non-receipt of notices by the assessee company which eventually led to framing of assessment under Section 144 of the Act on 20-3-2015 by the Learned AO. 4. The....
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....arned AO by seeking a remand report and that the Learned AO had not sought to utilize the same to examine the additional evidences filed by the assessee under Rule 46A of the Rules, the Learned CIT(A) first observed that those additional evidences filed by the assessee go to the root of the matter and are very much relevant and crucial for the purpose of adjudication of the disputes pending before him. Accordingly those additional evidences were admitted duly by the Learned CIT(A). Since no examination was carried out on the merits of the evidences submitted by the assessee by the Learned AO in the remand proceedings, the Learned CIT(A) sought to examine the same on his own. The Learned CIT(A) on examination of the evidences submitted obser....
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....n sundry creditors was mainly due to the fact that there was an increase in the volume of business whereby the purchases had increased from Rs 3,38,29,693/- to Rs 4,71,61,169/- as per note 19 to the profit and loss account and creditor for purchases also increased from Rs 3,23,64,019/- to Rs 3,74,89,309/- as per note 7 of the balance sheet. The Learned CIT(A) further noted that assessee had received advance from L S industries limited to the tune of Rs 2,38,39,227/- out of total advance outstanding of Rs 2,40,39,424/-. All these details were cross verified by the Learned CIT(A) with the audited financial statements and the books of accounts of the assessee company. The Learned CIT(A) noted that assessee filed the confirmation copy of accoun....
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....able, and filed the TDS returns with the income tax department after duly depositing the tax so deducted. The learned CIT(A) also noted that the learned AO had completely ignored these facts. The learned CIT(A) concluded that assessee had furnished the complete name and addresses of the sundry creditors/ current liabilities and also had filed confirmed copy of accounts giving their PAN as well as invoices and linking the same with the audited balance sheet of the company who had also made an advance in respect of all the sundry creditors and current liabilities including the party who had made an advance of Rs 2,38,39,227/-. The learned CIT(A) noted that the books of accounts of the assessee company had been rejected by the learned AO under....