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2022 (10) TMI 240 - HC - Income TaxBogus purchases - unexplained expenditure u/s 69C - Tribunal has arrived at concurrent findings with ones arrived at by the Commissioner of Income Tax, to the effect that the purchases made by the assessee could not be doubted on the basis of production of purchase bills as well as invoices, challan-cum tax invoices in respect of purchases and extracts of stock ledgers showing entry/exit of materials - HELD THAT:- CIT as well as ITAT have concurrently concluded, on a matter of fact that the transactions entered into by the assessee were genuine, supported by material such as stock entries and payments made through cheques through proper banking channels. Both these authorities have concurrently concluded that the assessee had made purchases materials and reflected the same materials to various authorities in a Stock Register. No reason to conclude otherwise and accordingly find no infirmity with findings and conclusions arrived at by the CIT or with the concurrent view taken by the Tribunal on this matter. The judgment rendered in VAMAN INTERNATIONAL PVT. LTD. [2020 (2) TMI 464 - BOMBAY HIGH COURT] applies in all vigor to the facts of the present case. No substantial question of law as envisaged under section 260 (A) of the Act arises in the present matter. Accordingly, we dismiss the appeal.
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