AVICHAL PRESS PVT LTD Vs. ASSISTANT COMMISSIONER

JUDGEMENT

(1.) The assessee has filed the present appeal under Section 260A of the Income Tax Act, 1961 against the order dated 18th December, 2009 passed by the Income Tax Appellate Tribunal 'C' Bench in ITA No.579 of 2006.

(2.) In the facts of the case, the following substantial question of law is formulated for consideration and determination : -

(3.) Learned Senior Counsel for the appellant submitted that as such confirmation letters were already before the Assessing Officer and the only reason why the same were not accepted at the initial stage by the Assessing Officer was that they were signed by the Managing Director of the Assessee Company, and not by the creditors. He further submitted that the Tribunal erred in concluding that the assessee did not discharge its burden to prove the genuineness of creditors. According to him, the burden was discharged, but the CIT(A) did not accept the additional evidence. He submitted that the error committed by the CIT(A) in not accepting the confirmations letters as additional evidence was repeated by the Tribunal. He submitted that the conditions of Rule 46 -A of the Rules for producing the additional evidence were satisfied and the CIT(A) ought to have permitted the assessee to produce the said additional evidence.