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2017 (10) TMI 165 - ITAT MUMBAIBogus purchases - addition at 12.5% of the purchases made from M/s. Foram Traders/Apple Industries and M/s. VSK Enterprises - assessments were reopened after an enquiry conducted u/s. 131 - Held that:- The assessments were completed on 11.03.2015 by the Assessing Officer. Obviously there is no reference of these details provided by the dealers in the Assessment Orders. These confirmations also appear to have been filed before the Ld.CIT(A). The evidences on record have not been appropriately appreciated by the learned Assessing Officer. The confirmations from parties were not before him at the time of completion of assessments. It is the finding of the learned Assessing Officer that assessee could not produce the purchase bills, transport receipts, details of Octroi Payment, details of goods receipt note and details of storage of goods. Assessee is a whole sale trader of paper and iron and it is not a manufacturer. The matter has to be examined thoroughly by the Assessing Officer afresh in the light of the confirmations filed by the dealers supporting the sales made by them to the assessee. Thus, this matter is restored to the file of the Assessing Officer for denovo adjudication in accordance with law after obtaining necessary information from the assessee. The assessee shall provide all the details including the confirmations from the dealers, stock register, purchase register etc., in support of its contentions and to prove the genuineness of the purchases from these two dealers. Appeals of the assessee are partly allowed for statistical purposes.
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