TaxTMI 
TaxTMI 
2026 (3) TMI 555
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.... relating to the raw tobacco business were not declared by the assessee. The Assessing Officer completed the assessment u/s 147 r.w.s. 143(3) determining the total income of the assessee at Rs. 10,63,900/- by making addition of profit @ 9% of the total estimated turnover and also an addition of peak credit of Rs. 5,36,041/-. 3. The assessee preferred an appeal before the Ld. CIT(A) / NFAC who enhanced the income of the assessee and taxed the entire deposits in the said bank account as income of the assessee without giving any set off of the withdrawal. 4. Before the Tribunal the assessee contended that the enhancement made by the Ld. CIT(A) / NFAC was not correct and also filed certain additional evidences, based on which the Tribunal restored the matter back to the file of the Assessing Officer for fresh adjudication by observing as under: "11. Further, we also examined the quality of the said additional evidences and find that the same constitutes purchase bills involving the suppliers/buyers of the tobacco. These documents go to the root of the matter. Considering the same, we are of the opinion, the admission of the said additional evidences will be in the intere....
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....ear under consideration. He, therefore, held that the transactions with Shri Raju Biranje, broker are not verifiable. 6. In the case of Shri Ramesh Udgave, another broker, the Assessing Officer noted that his PAN number given was AGAPU4870E on which the Income Tax Department tried to issue the notice u/s 133(6) of the Act. However, due to wrong PAN, the notice u/s 133(6) of the Act could not be issued to the concerned person. He, therefore, held that the transactions made by the assessee with the above person are not verifiable from the record. 7. In case of other parties also he noted that no PAN numbers are mentioned by the assessee due to which the transactions made by the assessee with the above persons are not verifiable in absence of required information. Similarly, in case of sales, the Assessing Officer issued notices to Shri Suresh Champalal Surana, Shri Kiran Karyappa, broker, Shri Jagdish Shekhavat, broker and Shri Kamlesh Mehta. Here also the Assessing Officer noticed various discrepancies in respect of certain parties to whom the notices were served and no replies were received from the other persons. The Assessing Officer, therefore, in absence of any satisfacto....
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.... 8] The appellant craves leave to add, alter, amend or delete any of the above ground of appeal. 10. The Ld. Counsel for the assessee at the outset submitted that the assessee as well as his mother Smt. Taramani are engaged in similar type of business. The Tribunal vide consolidated order dated 08.11.2019 in a batch of six appeals restored the matter to the file of the Assessing Officer for deciding the issue afresh. Referring to the order of the Assessing Officer in case of the mother of the assessee namely Smt. Taramani for assessment year 2008-09, copy of which is placed at pages 157 to 158 of the paper book he submitted that the Assessing Officer has not made any addition to the returned income. He submitted that however in the instant case the Assessing Officer made addition of the entire bank deposits without considering the purchases made by the assessee. Referring to pages 6 to 7 of the assessment order, the Ld. Counsel for the assessee drew the attention of the Bench to the details of sales amounting to Rs. 31,83,855/-. Referring to page 14 of the paper book, he drew the attention of the Bench to the chart showing the sales made by the assessee amounting to Rs. 33,12,57....
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....e letter dated 04.03.2021. He submitted that the objection of the Assessing Officer is that the annexure has not been signed for which he rejected the same. He submitted that when the party has issued a letter along with the annexure and the payments were made through proper banking channel and the party confirms the transactions, merely because the annexure has not been signed cannot be a ground to reject the sales. 12. Referring to page 35 of the paper book the Ld. Counsel for the assessee drew the attention of the Bench to the confirmation given by Shri Jagdish Shekhavat wherein he has given the details of purchases made from the assessee giving the details of date of purchase, bill number, quantity, rate and amount and all the payments have been made through proper banking channel. Referring to page 36 of the paper book he drew the attention of the Bench to the confirmation of accounts from 01.04.2007 to 31.03.2008. Referring to page 37 of the paper book he drew the attention of the Bench to the PAN of Shri Jagdish Singh i.e. JQBPS0408G. Referring to pages 39 to 40 of the paper book he drew the attention of the Bench to the sale bills issued to Shri Jagdish Shekhavat. 13.....
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.... 14 th Lane, A/p Jaysingpur Tal-Shirol [MAH) 514600.00 AGAPU4870E Attached Vouchers Attached Attached No No 3 Bhupal Shinde Shinde Mala A/p Jaysingpur, Tal- Shirol (MAH) 605000.00 966750524670 Attached Vouchers Attached Attached No No 4 Nayaku shinde Deep Nagar, A/p Jaysingpur, Tal -Shirol (MAH) 392100.00 627399385181 Attached Vouchers Attached Attached No No 5 Gaurav jain 103,Dudiya Talav, A/p Navsari Dist- Navsari (Gujarat) 540645.00 959267488736 Attached Invoices Attached Attached No No 6 Sudhakar Udgave Udgave Mala A/p Chinchawad, Tai- Shirol (MAH) 460000.00 No No Vouchers Attached Attached No No 7 IMS Company krishna Valley Society Near Amitnagar, Baroda, (GUJ) 100000.00 No No Invoices No No No No 8 P 5 Mehbub Sarvarkhanpet, Khajipet-516203 CuddapahDist.(A.P.) 200000.00 N....
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....nd the Tribunal, on the basis of certain additional evidences filed before it, set aside the matter to the file of the Assessing Officer for deciding the issue afresh. I find while the Assessing Officer in the case of the mother of the assessee has accepted the submissions and did not make any addition in the set aside proceedings, however, in the case of the assessee he rejected the various submissions made by the assessee and made the addition of the entire deposits in the bank account without giving any set off towards purchases made, payments of which were also made through the said bank account. It is the submission of the Ld. Counsel for the assessee that when the assessee has given the confirmation of accounts giving date-wise details, bill numbers, quantity, rate and amount etc and all the transactions are routed through proper banking channel, therefore, making the addition of the entire deposits without giving any set off towards purchases is not justified. It is also his submission that merely because certain annexures were unsigned, the same cannot be a ground for rejecting the contention of the assessee especially when such annexures were part of the signed letter addr....