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2021 (8) TMI 1193 - AT - Income TaxBogus Purchases - as per AO accommodation entries provided by various dealers and assessee was also one of the beneficiary - CIT-A deleted the addition - HELD THAT:- Purchases are supported by proper invoices duly reflected in the books of accounts, the payments have been made by account payee cheque which are duly reflected in the bank statement of the appellant. There is no evidence to show that the appellant has received cash back from the suppliers - AO has not disputed the sales of the concluded that there is no basis to disbelieve the purchases made by the appellant from the alleged parties which could, have caused any leakage to the revenue necessitating estimated disallowance claim of the appellant, cannot be denied. The AO is directed to delete the disallowance - Decided in favour of assessee.
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