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2020 (1) TMI 495 - AT - Income TaxAddition made u/s 68 - Addition on account of bogus purchases on fixed assets - assessee could not justify the genuineness of the cash credits nor could furnish any evidences in support of its claim of purchases of its assets - HELD THAT:- Since the fixed assets were treated as bogus, denial of depreciation was also confirmed. As carefully perused the findings of the ld. CIT(A). As mentioned elsewhere, none appeared on behalf of the assessee. Since nothing has been provided to us by the assessee, we decline to interfere with the findings of the ld. CIT(A). Grounds raised by the assessee stand dismissed. Bogus claim of depreciation - HELD THAT:- Since in A.Y 2010-11 [supra] we have treated the entire purchases of fixed assets as bogus, there is no question of any allowance of depreciation. In respect of other assets, we find that no supporting evidences have been furnished and, therefore, denial of depreciation is justified. Claim of expenditure - onus is upon the assessee to furnish necessary evidences in support of its claim of expenditure. Since no documentary evidences have been furnished, the addition on account of non availability of bills in respect of expenses is confirmed. Accordingly, all the Grounds raised by the assessee stand dismissed.
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