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2018 (10) TMI 1759 - HC - Income TaxDeduction u/s 10AA denied - Bogus purchases - HELD THAT:- We are inclined to concur with the view taken by the Tribunal, which is based on the facts proved by statement of Shri Praveen Jain. The appellant despite being provided opportunity failed to prove the genuineness of the transactions and failed to produce the parties along with their books of accounts from whom such transactions were made to verify the same. Relied judgment of the Supreme Court in Commissioner of Income Tax, Delhi Vs. M/s. Kelvinator of India Limited [2010 (1) TMI 11 - SUPREME COURT] does not offer any assistance to the appellant in the present case. It cannot be said that the Assessing Officer in the subsequent assessment order has arrived at a view that it has taken only on the basis of whatever material was available with him at the time of framing of initial assessment order. Indisputably, the Assessing Officer at the subsequent stage has relied upon the statement of Shri Praveen Jain recorded under Section 132 (4) of the Act. It is on that basis that he called upon the appellant to prove the genuineness of the transactions. Therefore, the Assessing Officer has rightly disallowed the deduction under Section 10AA of the Act. As regards the argument of the appellant for not providing him opportunity of cross examine Shri Praveen Jain, in the first place, the Assessing Officer himself required the appellant to produce representative of the concerned parties along with their books of accounts and he failed to produce them. Secondly, no such prayer was ever made by the appellant before the Assessing Officer to summon Shri Praveen Jain for his cross-examination. No substantial question of law
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