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2024 (3) TMI 1114 - AT - Income TaxBogus purchases - Burden of proof - purchase of pulses made by the assessee from one supplier as bogus on the basis of information received from the Income Tax Investigation Wing, New Delhi - CIT(A) deleted the additions - HELD THAT:- We find that the assessee in the instant case had duly discharged its burden by furnishing all the necessary documents to prove the veracity of the purchases from Supplier/Kamal Kishore Mukesh Kumar - goods purchased had been duly reflected in the stock registers maintained by the assessee and the same were sold by the assessee to two parties by making due reduction in the stock register to the extent of sales. Hence the purchases and corresponding sales were duly matched by the assessee in the instant case. Sales made by the assessee is not doubted by the revenue and naturally the purchase made by the assessee cannot be doubted. The purchase made by the assessee from the said supplier had been duly reflected in the books of accounts and payments made for the same through account payee cheques out of disclosed sources of income. Also ledger account of Supplier as appearing in the books of the assessee company for the period 1.4.2011 to 31.3.2012, wherein it could be seen that total purchases made during the year by the assessee from the said supplier was Rs 2,62,54,071.60 , out of this, the ld. AO is disputing the purchase made from this very same supplier only for the sum of Rs 2,16,83,820/-. How can the said supplier be genuine for the remaining supplies and be ingenuine only for the disputed supplies of Rs 2,16,83,820/-. Hence the entire case of the revenue falls flat - Decided in favour of assessee.
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