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2016 (1) TMI 180 - AT - Income TaxAddition of alleged bogus purchase - Held that:- we are of the considered view that in the facts of the present case, where books of account of the assessee had not been rejected and in view of substantial evidence filed by the assessee in order to establish the purchases made from the said parties and where payments to the said concerns have been made by cheque, though after gap of time and where no evidence has been brought on record to establish that the cash has travelled back to the assessee, there is no merit in the orders of authorities below in holding the aforesaid purchases to be bogus. Accordingly, we reverse the order of CIT(A) in this regard and direct the Assessing Officer to allow the claim of purchases at 1,45,50,189/-. - Decided in favour of assessee.
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