Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 2019 (8) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (8) TMI 1072 - SC - Income TaxReview of order - dismissed considering low tax effect - HELD THAT:- We have perused the review petition and find that the tax effect in this case is above ₹ 1 crore, that is, ₹ 6,59,27,298/-. Ordinarily, therefore, we would have recalled our order dated 17th September, 2018, since the order was passed only on the basis that the tax effect in this case is less than ₹ 1 crore. Disallowance based on third party information - addition based on third party information gathered by Investigation Wing of the Department - AO denied opportunity of cross examination - CIT(A) and ITAT deleted the disallowance stating that assessee has prima facie discharged the initial burden of substantiating the purchases through various documentation - HELD THAT:- We find that on merits a disallowance of ₹ 19,39,60,866/- was based solely on third party information, which was not subjected to any further scrutiny. The High Court by the impugned judgment [2017 (7) TMI 774 - DELHI HIGH COURT] affirmed the judgments of the CIT and ITAT as concurrent factual findings, which have not been shown to be perverse and, therefore, dismissed the appeal stating that no substantial question of law arises from the impugned order of the ITAT. - the Review Petitions are dismissed
|