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2012 (8) TMI 362 - ITAT, AHMEDABADAddition on account of unaccounted purchases - Held that:- The assessee has filed copies of acknowledgement of return of income of all the suppliers which contains complete details viz. PAN, address, ward in which assessed etc. and that in two cases, notices u/s 133(6) could not be served as there is change in address of the parties - as the payments were made through a/c payee cheques and the A.O. has not brought any evidence on record by making inquiry from the bank that he payments have not gone to the accounts of the suppliers and that the same have been received back by the assessee - the assessee has made purchases from these parties only and after purchasing diamonds form them, the same have been exported and the quantitative details are given in the tax audit report - deletion of addition by CIT(A) is thus warranted - in favour of assessee. Disallowance of claim of loss due to theft - Held that:- The quantitative details adduced from the sale and purchase invoices and the theft was found on 29.03.2007 as on the same day, FIR was filed with the police department - although the assessee has not maintained stock register and merely because stock was uninsured, no adverse interference can be drawn - in favour of assessee.
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