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2017 (10) TMI 1157 - ITAT DELHIBogus purchases - Held that:- On this aspect the assessee is making a grievance that AO failed to verify the fact of the assessee paying an advance of ₹ 14,47,20,500/- to M/s A.K. Traders and as against the said advance amount M/s A.K. Traders supplied the material worth ₹ 2,91,28,413/-, as such, in respect of the balance, litigation before the Court was initiated while the balance amount of ₹ 11,55,92,087/- was shown in the balance sheet on the asset side as amount recoverable. The other grievance of the assessee is that the Ld. CIT (A) also failed to consider the written submission made by the assessee on 23.03.2015, where an attempt was made to prove the genuineness of the purchases from M/s A.K. Traders and M/s G.S. Steels by furnishing the bills, vouchers etc. Having considered opinion that the verification of the facts pleaded by the assessee will go to the root of the case and has a bearing on the just tax liability of the assessee. However, since it is not possible for verification of such fact in this forum, we deem it just and proper to set aside the matter to the file of the AO for verifying the facts pleaded by the assessee with reference to the documents produced by him before the Ld. CIT (A). With this view of the matter, we restore the matter to the file of the AO for consideration afresh on the above lines by giving an opportunity to the assessee to put forth their case and evidence. Since we dispose of the appeal itself, stay petition becomes infructuous. Hence, it is liable to be dismissed.
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