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2018 (10) TMI 584 - AT - Income TaxAddition under the head “undisclosed transactions” - assessee has been repeatedly stating that he has not undertaken any transportation work for M/s Impex Ferrotech Ltd. and has not issued the alleged bills - Held that:- When the assessee has been repeatedly stating that he had never issued the alleged bills and that he had never undertaken any such transportation work nor received any payment for the same, the revenue authorities are bound to investigate the matter by summoning the persons in charge of M/s. Impex Ferrotech ltd. The genuineness of the bills have to be examined. No transporters payment can be blocked for more than two years without any rhyme or reason. If the alleged bills have nothing to do with the assessee, then suitable action should be taken under law against M/s. Impex Ferrotech Ltd. Thus this issue should be set aside to the file of the Assessing Officer, with a direction to investigate the matter and for discovering the truth. - Decided in favour of assessee for statistical purposes.
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