Bank statement reflects the payment and TDS certificate is enough to proof the payment

Last updated: 02 August 2013

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
Brief facts of the case are that in the relevant assessment year, the assessee company was engaged in the business of Export of Readymade Garments. The assessee had filed its return of income declaring total income of Rs. 3,63,33,946/-. In the course of assessment proceedings, the Assessing Officer noticed that assessee had furnished the list of parties from whom job work/fabrication was got done. In order to examine the same on test check basis, he issued notices u/s 133(6) of the Act. The AO has pointed out that no compliance was made in the case of M/s Nehru Style to whom the assessee had allegedly paid job work/fabrication charges amounting to Rs. 24,03,144/-. He has further observed that the assessee even failed to produce copy of bills of the party. He, therefore, disallowed the assessee’s claim of Rs. 24,03,144/- observing that assessee failed to establish the genuineness of the party and the expenditure claimed in respect of this party remained unverified

Citation :
M/s Rainbow Fabart P. Ltd., 109, Ashirwad Complex, D-1, K-84, Green Park, New Delhi. PAN No. AACCR4098N (Appellant) Vs. DCIT, Company Circle 15(1), New Delhi. (Respondent)