TaxTMI 
TaxTMI 
2025 (9) TMI 1879
X X X X Extracts X X X X
X X X X Extracts X X X X
....A) confirming the addition of Rs.25,55,776/- as made by the ld. AO on account of unsubstantiated work-in-Progress (WIP). 3.1. During the course of assessment proceedings, the ld. AO observed from the note-9, which is in regard to the property/ plant and equipments and related depreciation and amortization, a copy of which is available at page no.11 of the Paper Book that during the year, the capital work in progress as on 31.03.2022, was Rs.2,55,89,774/-. Accordingly, the assessee was called upon to furnish the details along with the evidences. It was submitted before the ld. AO that capital WIP relates to Antimony Plant and as the company plans to extract Antimony metal from the ingots and alloys that it purchases from its vendors. Acco....
X X X X Extracts X X X X
X X X X Extracts X X X X
....sment proceedings, the ld. AO called upon the assessee to furnish the details of expenses claimed under various head of income. The total of these expenses other than the foreign exchange loss comes to 6,36,02,311/-. According to the ld. AO, there was huge increase in these expenses during the year. The assessee sought time to reply the said query vide letter dated 12.03.2024, however, assessment order was passed on 18.03.2024 holding that the assessee did not furnish the details and consequently the adhoc disallowance of 10% was made which worked out to Rs.63,60,231/-. 5.2. The ld. CIT(A) in the appellate proceedings simply affirmed the ld. Assessing Officer 5.3. After hearing the rival contentions and perusing the materials availabl....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he addition of Rs.7,40,51,268/- made by the ld. AO on estimation basis. 6.1. During the course of assessment proceedings, the ld. AO called upon the assessee to furnish the details of purchases made during the year with PAN and amounts partywise. In reply, the assessee submitted the consolidated purchase register containing names of the parties from whom the purchases were made. The ld. AO thereafter issued show cause notice dated 07.03.2024, giving the show cause to the assessee as to why the substantial purchases made from the suppliers who are non-filers should not be added to the income of the assessee. The ld. AO issued notices u/s 133(6)of the Act to all 41 parties, however, only from three parties responses were received in which ....