2025 (3) TMI 2290

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....ent : Shri Shailender Shrivastava - Ld. Sr. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeals by assessee for Assessment Years (AY) 2009- 10 & 2011-12 arise out of separate orders of first appellate authority. The registry has noted delay of 11 days in the appeals which stand condoned. First, we take up appeal for AY 2009-10 which arises out of an order of learned Com....

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....firmation of the lenders in support of receipt of loans. The lower authorities merely rejected the same for want of bank statements. However, without any independent enquiry, such loans could not be doubted once the assessee had furnished PAN details and confirmation of the lenders. Therefore, this addition is not sustainable. We order so. The appeal stand allowed. 4. In AY 2011-12, the only gr....

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....from local suppliers who are not the regular dealers but they supply material in emergency. The local suppliers do not have their own material but they have links with other dealers from whom they procure the material and make supplies to the assessee which result into discrepancy into ledger accounts. Considering the nature of assessee's business, this explanation could be accepted to a certain e....