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2015 (8) TMI 1203 - AT - Income TaxBogus purchases - deletion of 75% of bogus purchases by CIT(A) - matter further travelled to the Hon’ble Bombay High Court, wherein set aside the order of the ITAT insofar as it relates to disallowance of purchases and restored the matter back to the file of ITAT for fresh consideration of the issue - Held that:- After considering the assessee's affidavit, the Hon'ble High Court restored the matter back to the file of the Tribunal for fresh consideration by considering the assessee's plea that the assessee has furnished PAN of eight parties from whom purchases have been made by the assessee. However, details of such PAN No. of eight parties do not find any mentioned in the orders of the lower authorities nor in the orders of the tribunal passed on earlier occasions. Genuineness of purchase can be verified only after examining the assessment records of these parties as per PAN No. details filed through affidavit, before Hon’ble High Court. For this purpose both the Id. AR and Id. DR fairly conceded that the matter may be restored to the file of the A. O. for re-examining the alleged purchases in the light of the fact that all the eight parties from whom purchases was made are having PAN. Thus we restore the matter back to the file of the A. O. for deciding the genuineness of the purchases made from eight parties having PAN as supplied by the assessee before the Hon'ble High court as per the affidavit dated 31.12.2011, as reproduced above. - Decided in favour of assessee and revenue for statistical purposes.
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