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2020 (10) TMI 509 - ITAT DELHIBogus purchases - proof of existence or genuineness of the alleged sellers as long as purchases are recorded in the books and payments of purchase and brokerage have been made through cheques - addition made on the basis of survey conducted by the DGIT (Inv) u/s 133A on one Shri Sanjay Chaudhary and his concerns namely M/s Mayank Impex and M/s Nazar Impex (P) Ltd. - HELD THAT:- On the issue of purchase diamonds from bogus concerns, we agree with the submission of Ld. AR that the applicant cannot be asked to discharge the burden of proof of existence or genuineness of the alleged sellers as long as purchases are recorded in the books and payments have been made through account payee cheques. The applicants have furnished copies of purchase bills, bank statements, copies of return filed and copies of ledger accounts and sale tax registration. No hesitation in upholding the order of learned CIT (A). While upholding the order passed by the learned CIT (A), we rely on the judgment of the Hon’ble Jurisdictional High Court in the case of CIT vs. M/s Surendra Buildtech Pvt. Ltd. [2012 (5) TMI 629 - DELHI HIGH COURT] wherein the Hon’ble Court held that where the Revenue failed to rebut the findings recorded by the learned CIT (A) by bringing any contrary material on record, the finding recorded by the lower authority based on documentary evidences needs to be upheld. - Decided against revenue.
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