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2023 (10) TMI 464 - AT - Income TaxAddition u/s 69C - bogus purchases - Two accommodation entry providers have admitted in their statements that the said two companies were controlled by them and by using these companies for providing bogus accommodation entries to various persons including the assessee - HELD THAT:- From the first appellate order, we note that the CIT(A) had not only considered the findings of the AO but also considered explanations and documentary evidences submitted by the assessee and thereafter, held that there was no merit in the submissions of appellant company as appellant had taken the accommodation entry in the form of bogus purchases from said two dummy companies controlled by Shri Himanshu Verma. With these observations,CIT(A) upheld the addition under section 69C of the Act in respect of bogus purchases and had also upheld the addition on account of unexplained expenditure on commission paid for arranging impugned accommodation entries of bogus purchases. We are unable to see any valid reason to interfere with the findings arrived by the learned CIT(A) while confirming both the additions made by AO. Therefore, sole grievance of assessee being devoid of merits is dismissed.
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