DY. CIT, CC-1(4), AHMEDABAD, AHMEDABAD vs. MINAL INTERMEDIATES, AHMEDABAD

In this case, the Assessing Officer made addition of Rs. 2,14,53,435/- under Section 68 of the Act on account of unsubstantiated creditors. Asst.Year –2016-17 - 2–

The Ld. CIT(A) has deleted the addition holding that the assessee has duly submitted relevant proves like copy of account for the A.Y. 2016-17, copy of the bills, confirmations, proof of payment and VAT return. The Ld. CIT(A) has also categorically held that the original bills of all the purchases for two months have been examined in the remand report by the Assessing Officer and the Assessing Officer has neither made any adverse remarks on the remand report nor any adverse material is brought to notice with regard to the sundry creditors of the goods. The Ld. CIT(A) held that the Assessing Officer in his remand report has accepted the genuinenity of the transactions, therefore, no addition can be made out of the outstanding balances.

Having gone through the record before us and also keeping in view the fact that nothing adverse has been brought to our notice and since the remand report has categorically accepted by the genuinenity of the sundry creditors we hold that no addition can be made on the difference in the sundry creditors as alleged by the Assessing Officer. The order of the Ld. CIT(A) is hereby affirmed.

In the result, the appeal of the Revenue is dismissed.

""थ" / The Respondent. 3. संबंिधत आयकर आयु" / Concerned CIT 4. आयकर आयु"(अपील) / The CIT(A)- 5. िवभागीय "ितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड" फाईल / Guard file. आदेशानुसार/ BY ORDER,