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2019 (11) TMI 94 - AT - Income TaxBogus purchases - Revenue Authority is of the view that assessee could not give any plausible explanation with the support of evidences for this transaction - HELD THAT:- Assessee has not discharged the onus which was casted upon him by making a necessary investigation in the case Kamud Drugs Pvt. Ltd. by the Investigation Wing, Pune. After discussing the evidence, collected by the Investigation wing and the finding of the Ld. AO the Ld. First Appellate Authority has uphold the addition by holding that it is a bogus purchase claim to have been made from Shri Abhijeet Kunduskar (HUF). Ld. First Appellate Authority has also applied the ratio of the case Durga Prasad [1971 (8) TMI 17 - SUPREME COURT] as held that surrounding circumstances and human probabilities should not be ignored by the Taxing Authorities. The Ld. First Appellate Authority has also applied the ratio of decision of Sumati Dayal [1995 (3) TMI 3 - SUPREME COURT] has again given the importance of human probability and considering the surrounding circumstances. Order passed by the Revenue Authority along with the documentary evidence filed by the assessee in the shape of Paper Book and the case law. These are not applicable in the facts and circumstances of the present case. First Appellate Authority has passed a well reasoned order which needs no interference. Therefore, the present appeal filed by the assessee is dismissed.
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