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2019 (5) TMI 1728 - AT - Income TaxUnaccounted investment made in purchases addition was made based in peak working given by the assessee - Addition on account of Gross Profit addition - show-cause notice issued by the DRI - HELD THAT:- We find that the addition made on the show-cause notice issued by the DRI. However, said statement was retracted by the partner of the assessee-firm. That the AO has based his findings influenced solely on DRI. There is no evidence whatsoever brought on record which could suggests that the assessee has actually done under invoicing by making import in purchases. Therefore, in our considered opinion, in the absence of any documentary evidence, no addition can be made on the action of third party i.e. the DRI. Further, the CESTAT, West Zone Bench Mumbai, vide its final order NO. A/85365-85368/2019 dated 25.02.2019 has also dropped the proceeding initiated against the assessee-firm. Therefore, we do not find any merits in the revenue appeal. Accordingly, same is dismissed.
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