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2023 (3) TMI 923 - AT - Income TaxBogus purchases/expenses - Non rejection of books of accounts - CIT-A deleted the addition - HELD THAT:- AO made addition on account of bogus purchase and expenses, he did not reject the books of account u/s 145(3) - assessee has produced bank statements reflecting advance payments to seller of goods. Accounts of the assessee company are duly audited. Quantitative details have been maintained as reflected in tax audit report submitted under section 44AB of the Act. Export sales are reflected in audited balance sheet. The assessee is maintaining stock register and no payments were made in cash. It is worthy of note that no addition was made by the AO in preceding AY where the assessee has made similar transactions with the aforesaid parties. CIT(A) has cited many case laws wherein on similar facts no addition has been sustained. As adequate opportunity was granted by the CIT(A) to the Ld. AO and in his remand report submitted as per Rule 46A of the Rules, no material was brought on record warranting an adverse view against the assessee. Appeal of the Revenue is dismissed.
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