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2023 (7) TMI 564 - AT - Income TaxUnder invoicing of the export sales - AO based on the report of the Hon’ble Justice, Enquiry Commission, found that the assessee has exported iron ore which were under invoiced - HELD THAT:- We note that the in the case of DCIT vs. Raw Mining and Industries Pvt. Ltd. [2020 (1) TMI 1115 - GUJARAT HIGH COURT] has decided the issue in favour of the assessee stating AO has miserably failed to collect any evidence against the assessee demonstrating the fact that it has under-invoiced its export and therefore, received unaccounted sale proceeds. The undisclosed sales cannot be worked out on the basis of this report, and no addition required to be made in the absence of any evidence Admittedly, the assessee is the trader of Mineral Ores and not engaged in mining activities. Hence, grounds of appeal of the revenue are hereby dismissed.
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