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| The Tax Publishers2020 TaxPub(DT) 2755 (Ahd-Trib) INCOME TAX ACT, 1961
Section 68
Where assessee furnished copy of sale invoice pertaining to party and copy of contract note, etc., certifying that goods were distributed from party to place of assessee, and AO clearly mentioned in his remand report that bills were verified and TDS was deducted, then addition could not be made under section 68 doubting genuineness of sundry creditors on assumption basis without disproving relevant material submitted by assessee.
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Income from undisclosed sources - Addition under section 68 - Assessee produced copy of sale invoice pertaining to party and receipt of goods by assessee -
Issue in ground of appeal of assessee filed against decision of CIT(A) in confirming addition of Rs. 19,98,102 in respect of outstanding sundry creditors by AO. Assessee also raised issue that lower authorities did not properly consider various submissions, explanations, and information submitted by assessee during appellate proceedings. Held: Assessee furnished copy of sale invoice pertaining to party and copy of contract note, copy of challan, copy of receipt of agricultural production of marketing committee, copy of Form No. 403 of commercial sales tax department certifying that goods were distributed from party to place of assessee. CIT(A) did not disprove relevant supporting evidences furnished in respect of parties , in spite of fact that AO clearly mentioned in his remand report that bills were verified and TDS was deducted. Decision of CIT(A) could not be sustained on assumption basis without disproving relevant material submitted by the assessee.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
IN THE ITAT, AHMEDABAD BENCH
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