AO can made addition for Non Submission of Confirmation from Creditors

Advertisement It is evident from the order of the CIT(A) that the assessee was unable to produce confirmations and reconciliations at the time of assessment proceedings and since the details was produced before the CIT(A), the CIT(A), called for the remand report. During the remand proceedings, the  assessee was able to reconcile the same. The CIT(A), on the basis of the remand report, where the AO accepted on facts with the observation that “the statements filed in respect of the above parties in the paper book has been verified and found to be in order”, which were in fact, the confi...