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2020 (11) TMI 457 - AT - Income TaxBogus purchases - HELD THAT:- In the instant case, for the year under consideration also, the sales made by the assessee are not disputed. Hence, it could be safely concluded that without the purchases, there cannot be any sales. We find that the Ld. AR had also placed reliance on the decision in the case of CIT vs Odeon Builders Pvt.Ltd. [2019 (8) TMI 1072 - SUPREME COURT] and in the case of Vaman International Pvt.Ltd [2020 (2) TMI 464 - BOMBAY HIGH COURT]. As categorically stated that the Ld. AO had not conducted any independent investigation, which is similar to the facts prevailing before us - all the primary documents were duly placed on record including the quantitative details of purchases and corresponding sales together with stock register, confirmations from suppliers etc and hence no addition could be merely made u/s 69C by placing reliance on the statements made by some suppliers and parties before the Sales tax department. We find that the Hon’ble Jurisidictional High Court had agreed with the views expressed by both the CITA as well as the Tribunal in the aforesaid case. We find that the facts before us in the impugned appeal squarely falls into the factual matrix of the aforesaid case before the Hon’ble Bombay High Court. We direct the Ld. AO to delete the disallowances made on account of non genuine purchases in the peculiar facts and circumstances of the instant case.
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