Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (10) TMI 1343 - AT - Income TaxUnexplained expenditure u/s. 69C - hawala purchases - CIT-A deleted the addition - HELD THAT:- AO not discussed in its order the contention of the assessee, the evidence of purchases, delivery of goods and the payment made through Banking transaction as well as the stock register. Before the CIT(A), the similar contention was raised by the assessee. Ld. CIT(A) reproduced the submission of assessee in its order. As relying on SHRI HIRALAL CHUNILAL JAIN VERSUS INCOME TAX OFFICER WARD 14 (1) (4) , MUMBAI. AND VICA-VERSA [2016 (1) TMI 1089 - ITAT MUMBAI] where the AO has not disputed the use of material nor disputed the stock of the assessee, hence we do not find any illegality or infirmity in the order of Ld CIT(A) - Decided in favour of assessee.
|