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2018 (5) TMI 254 - ITAT KOLKATAAddition on bogus purchases - Held that:- The assessee being an exporter of leather goods has explained the reason why bills from some parties were blank and later filled up, which has been accepted by the Tribunal since there was no quantitative discrepancy as held by the Ld. CIT(A). CIT(A) in A.Y. 2010-11 has taken note of the fact that even on the date of survey, the alleged blank bills did contain the quantity duly received by the assessee and only the rates were not mentioned in those bills at the time of survey and the reasons have been furnished elaborately by the assessee which has been found to be justifiable by the Tribunal and by CIT(A). Since all the purchases made by the assessee are duly backed by the corresponding export and the sales figures have been accepted, then purchase cannot be discarded. Therefore, we taking note of the Tribunal’s decision for the preceding assessment year is inclined to allow the appeal of the assessee and direct the A.O. to delete the addition. - Decided in favour of assessee.
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