Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (7) TMI 294 - AT - Income TaxGenuineness of purchases - non compliance of notices u/s 133(6) by the suppliers - purchases was capitalised in book - disallowing depreciation claimed @15% - exclusion of balance from written down value [WDV] of the fixed assets - HELD THAT:- We find that the assessee had filed plethora of documents to substantiate the purchases. It is noted that the three suppliers under question were corporate entities who were duly registered under respective State Sales Tax / VAT, had registration under Excise Laws / Service Tax. The material was purchased by the assessee against C Form. The assessee has obtained certain services from these entities and made the payment thereof after deduction of appropriate tax at source u/s 194 C / 194J. All the payments were through banking channels. The confirmation of account as well as reconciliation of balances was available on record. Further, similar purchases made by the assessee in subsequent AY 2009-10 has been accepted. The assessee erected approx. 610 new Towers during the year which was uniquely identifiable and the same could not have been achieved without actual purchase of the material. he assessee has placed on record the Income Tax Return as well as VAT returns for impugned AY 2008-09 in respect of Aster Teleservices Pvt. Ltd. which demonstrate that the entity was very well in existence. The assessee also made an effort to procure similar documents from official liquidator of another entity namely R.N. Infrastructure Pvt. Ltd. Nothing on record suggest that the above entities, in any manner, have been declared as Hawala / Bogus dealers by any of the authorities. The totality of all these facts demonstrate that the assessee was able to produce overwhelming documents to substantiate the purchase as pitied against the revenue’s stand that notices u/s 133(6) were not responded to. However, we find that even the response to notice u/s 133(6) was not within the control of the assessee and the same were to be replied to by the third party suppliers. The factual matrix as well as documentary evidences, in our opinion, was tilted more in favor of the assessee. - appeal of revenue stands dismissed
|