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2023 (2) TMI 316 - AT - Income TaxBogus purchases - non personal appearance of Company from whom assessee made purchases - CIT-A deleted addition - HELD THAT:- No adverse inference can be drawn against the assessee merely because of non personal appearance of the Prop. of Bengali Chain & Co. before the Ld. AO from whom the assessee had made purchases. Admittedly, in response to summons issued by the Ld. AO u/s 131 Shri Muni Ram Verma, Prop. of Balaji Chain & Co. appeared before the Ld. AO on 15.02.2019 and his statement was duly recorded in which he confirmed having made sale of jewellery items to the assessee during the year. CIT(A) has observed appellate order that in the statement Shri Muni Ram Verma, Prop. of Balaji Chain & Co. clearly states that he is furnishing bank statement and also furnished statement of copy of account and copy of bills as proof of transactions and sales and payment. CIT(A) also recorded finding of fact with which we agree that proper and satisfactory answers to all questions were given and documents required in terms of notice were already produced by Shri Muni Ram Verma, Prop. of Balaji Chain & Co. We decline to interfere with the order of the Ld. CIT(A) holding that the impugned addition is not justified. Appeal of the Revenue is dismissed.
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