Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 821 - DELHI HIGH COURTReassessment proceedings - Addition of bogus purchases - ITAT setting aside a reassessment order - Held that:- The assessee did not rely merely upon the deposit of the amount but rather movement of the goods, which is borne out by the VAT authorities’ stamp on transit challan i.e. chungi, at the border. Other evidence such as the stock register, factory certifying the receipt of the goods as and when they were moved into the premises; clearly recorded in the statutory central excise registers RG-1 etc., were sufficient proof to show that the purchases were not bogus. Moreover, the CIT(A) re-apprised all the evidence, unlike the AO, who was largely influenced by the so-called credit entry providers. This Court is of the opinion that having regard to the detailed analysis of the CIT(A), with which the ITAT’s finding concurred, no question of law arises
|