Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (9) TMI 1027 - ITAT DELHIBogus purchases - genuineness of purchase of TMT bars and Steel from three vendors who are allegedly black listed by the Sales tax department, Mumbai - grounds raised are primarily on the basis that revenue have questioned the genuineness of purchase of TMT bars and Steel from three vendors who are allegedly black listed by the Sales tax department, Mumbai - HELD THAT:- What can be concluded is that in spite of AO having been given opportunity, he was unable to lay hand on any material evidence to rebut the submissions of assessee. The order of AO and the examination of facts and circumstances by CIT(A) indicate as if a presumption of truth was attached to all proceedings of VAT department, Mumbai and the onus was on assessee to rebut the same. Rather once CIT(A) had called for specific report from AO then unless there was specific material collected to rebut the submissions of assessee then merely on basis of inference from the circumstances, the purchase could not have been held to be bogus, by the CIT(A). In fact assesse’s own accounts stand admitted by revenue which reflect that the work order with Govt of Jharkhand was source of revenue as shown in the balance sheet of assessee, where the Transport Department of Jhankhand is shown as a debtor - Revenue has accepted the income of assessee and relevant is scheduled at 13 available at page no. 63 of the paper book, being part of the copy of ITR of assessee company, wherein income from sales (E-cheque post), for which purchases were made and sub contracted to M/s. Mettler Toledo India (P) Ltd, has been shown to be Rs. 12,33,81,325/-. Thus, it was unfair on the part of Ld. Tax authorities below to consider the purchases of stocks used for earning this revenue by alleging it as bogus. Therefore, grounds raised are sustained and the appeal is allowed.
|