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2017 (3) TMI 1710 - AT - Income TaxAddition invoking the provisions of section 69C by treating the purchase are non-genuine - assessee failed to produce the parties for verification and also failed to establish the genuineness of the purchases however claimed to make the payment to the parties through cheques - Held that:- Merely the name of the parties to whom the transaction was done by the assessee have been reflected in the official website of the Sales Tax Department, Government of Maharashtra www.mahavat.gov.in. is not itself to prove the sufficient case in connection with the bogus purchase against the assessee. Moreover, the appellant has shown the Gross Profit and Net Profit which were duly accepted by the Assessing Officer, therefore in absence of the rejection of any book resulted into such huge addition of ₹ 4,99,27,664/- was not tenable in the eyes of law. CIT(A) while deciding the matter of controversy has also placed reliance upon the law settled by in the case of M/s.Nikunj EXIMP Pvt. Ltd. (2013 (1) TMI 88 - BOMBAY HIGH COURT). CIT(A) has decided the matter of controversy after considering the case of the assessee from every angle. Nothing came into the notice that the finding of the CIT(A) is required to be interfere with. In view of the discussion made above we are of the view that the CIT(A) has passed the order judiciously and correctly which does not require to be interfere with at this appellate stage. - Decided against revenue.
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