Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (11) TMI 192 - AT - Income TaxAddition made u/s. 69C - bogus purchases - Held that:- Only in respect of the two parties namely M/s. Disha Transport Co. and M/s. D.K. Enterprises it is the finding of the Ld.CIT(A) that assessee could not furnish any iota of evidence to show that the purchases made from the parties are genuine, no confirmations, copies of income tax returns, no purchase invoices etc., have been furnished. Therefore, he sustained the disallowance in respect of these two concerns. The action of the Ld.CIT(A) in sustaining the disallowance of purchases from these two parties is upheld. No inference is called for in so far as the decision taken by the Ld.CIT(A) that the purchases cannot be treated as bogus/non-genuine, in respect of the parties/suppliers namely M/s. Siddhi Enterprises, M/s Devchaya Trading Co. and M/s. D.C. Corporation as the assessee produced confirmations from these parties Income Tax returns, VAT returns etc., and the Ld.CIT(A) considering the submissions taking note of the fact that the assessee’s name is not appearing in the list of beneficiaries to whom the parties have provided accommodation entries as deposed in the statements - Decided partly in favour of revenue
|