Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2007)104ITD325(Asr.)
..... creditors appearing in the balance sheet and asked the assessee to furnish the names and addresses of these persons.these details were furnished and appeared on p. 8 of the assessment order, where credits amounting to rs. 62,55,097 in the names of 52 persons have been listed. the assessee stated that all these persons had sold their agricultural produce to the assessee. the ao sent enquiry letters by registered post to 12 out of the 52 persons at the addresses given by the assessee. all these letters were ..... drew our attention to pp. 44 and 45 of the paper book which are copies of such weekly returns. he further stated that unlike purchases of wheat and paddy made by government agencies like fci, punsup, cotton and narma produce were being sold to factory/mill owners in auction in the presence of officials of the market committee and the government agency, i.e., the cotton corporation of india (cci) buys crops only if the same falls below the minimum support price fixed by the government. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2007)108TTJ(Asr.)373
..... 1998 declaring therein income of rs. 1,68,896. the assessee was carrying on business of 'kachi arhat' (commission agent) in respect of agricultural produce grown by the farmers. the it authorities carried out survey operation under section 133a of the act where a large number of loose papers containing ..... date of receipt of notice of appeal filed by the assessee to the tribunal as 7th march, 2005. the assessee submitted an application requesting for condonation of delay in filing the cross-objections stating therein that the delay in filing the co took place because of the accident of the authorised representative of the assessee and major fire that occurred in the office of sh. ..... of debits and credits, closing balance and interest received/accrued etc. on pp. 4 and 7 of the assessment order. the ao also noted that at the time of survey, sh.surinder kumar, partner confirmed that these transactions related to the assessee and its associate concern namely, m/s sunder sales corporation. still .....
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