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2016 (7) TMI 682 - AT - Income TaxNon- genuine purchases - Held that:- Enough documentary evidences by way of purchase bills, sales bills, ledger copies of suppliers, etc., along with the fact that payments were made through cheque has been brought on record by the assessee to demonstrate that purchases made from the concerned suppliers are genuine. In addition, it is a fact on record that not only the entire purchase transaction has been reflected in the assessee's books of account but the sales effected by the concerned suppliers are also recorded in their books of account which were submitted before the Assessing Officer as well as the first appellate authority. Moreover, all the suppliers are identifiable persons with permanent account numbers and are assessed to Income-tax regularly. There is no material before us to show that sales effected by these persons have been held to be non-genuine at their hands in any Income-tax assessment proceedings. Thus, when the sales effected by the suppliers are accepted in their hands, the purchases made from them by the assessee cannot be held to be non- genuine. In these circumstances, as the Department has failed to bring any substantive evidence/material to controvert the findings of the learned Commissioner (Appeals), we are not in a position to disturb the order of the learned Commissioner (Appeals). - Decided in favour of assessee
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