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2013 (11) TMI 1483 - ITAT DELHIUnexplained cash payment – Held that:- No evidence of any payment having been made by the assessee - The assessee could not reconcile the difference in account of sundry creditors appearing in balance sheet and as per sundry creditors the entire amount outstanding was paid in cash - No evidence was produced by the assessee to substantiate the fact that no payment has been made by it to the sundry creditors – Decided against assessee. Bogus purchases – Held that:- The assessee failed to furnish any reasonable and sustainable evidence regarding genuineness of the purchasesdespite several oppurtunities given by the CIT(A) – Also the assessee could not improve its case before the Tribunal for establishing genuineness of the claimed purchases except producing one bill – The CIT(A) was justified in adding this - The AO has not addressed the submission of the assessee regarding allowing adjustment of the loss on account of rejection from debtor - The same cannot be done at the appellate stage as the assessee never claimed this amount in its return of income – The issue was restored for fresh adjudication.
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