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2012 (8) TMI 707 - ITAT, HYDERABADAlleged Bogus payments made for purchase of Plant & machinery – addition – cheques issued not being account payee cheques but only “ & Co.” – cheques encashed by two concerns other than supplier, which assessee contended to be discounting – other two concern’s bank account being short lived – Held that:- There is no dispute on the facts of purchase of P&M, and also on the issue of cheques. However there is dispute on the questions why the said three cheques were not A/c payee ones; and why the assessee, the Managing Partner issued such cheques. Therefore, role and innocence of the assessee in discharging the onus is not fully demonstrated. Also, employing the short lived bank accounts of other two concerns, whose antecedents are not verifiable have added fuel to the fire. We restore the matter to the file of the AO for re-consideration of the whole issue, after carrying due verification with a direction to obtain relevant confirmation from supplier of P&M about supply of the P&M and receipt of the agreed amount of consideration
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