AARAV FRAGRANCES AND FLAVORS P.LTD,THANE vs. ACIT CIR 1, THANE

आदेश / O R D E R PER R.C.SHARMA (A.M):

This is an appeal filed by the assessee against the order of CIT(A)- 1, Thane dated 28/12/2016 for A.Y.2010-11 in the matter of order passed u/s.143(3) of the Income Tax Act, 1961. 2. The only grievance of assessee relates to addition of Rs.3,65,362/- u/s.69C of the IT Act. 3. Rival contentions have been heard and record perused.

M/s. Aarav Fragrance & Flavors Pvt. Ltd., 4. Facts in brief are that assessee is engaged in manufacturing of fragrance compounds. During the assessment proceedings U/s 143(3) of the Act Learned AO issued Notices U/s 133(6) of the Act to various suppliers. Out of this, learned AO has made disallowance U/s 69C of the Act amounting to Rs. 4,61,559/- being positive differences i.e. assessee company showing more purchases than confirmed by the suppliers The disallowances are as follows:- Sr.No. Name of the Party Amount as per Amount as per Reply Difference (In Rs.) Assessee received from the supplier (In Rs.) Company (InRs.)

01 50,66,641/- 49,69,421 97,220/- Associate Allied Chemicals(l ndia) Pvt.Ltd.

02 25,64,0707- 21,99,7347- 3,64,336/- Rishichem Distributors Pvt.Ltd. 03 Gopal Enterprises 16,22,3537- 16,22,3527- 1/- Total 4,61,559/-