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2010 (7) TMI 454 - AT - Income TaxBogus Purchase - Shri Ravi Haldiya in his statement under section 132(4) stated that the payments to such parties from whom purchases have been shown to have been made through cheques but immediately the whole amount was received back in cash - The onus was upon the assessee to prove the genuineness of the purchases - Assessee has failed to produce the quantitative details and stock register and the assessee was also not able to get the closing stock verified and hence the books of account have correctly been rejected - the addition as confirmed by the ld. CIT(A) is proper as the amounts were still payable to the trade creditors from whom purchases could not be established and such amount exceeds the addition confirmed by the ld. CIT(A) - The appeal of the assessee is dismissed
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