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2020 (1) TMI 603 - AT - Income TaxBogus purchases - CIT(A) sustaining the addition to the tune of 8% of alleged disputed purchase by applying the G.P ratio of 8% - HELD THAT:- Hon’ble Supreme Court in the case of M/s. Oden Builders P. Ltd. [2019 (8) TMI 1072 - SUPREME COURT] find that in the present case since the entire addition has been made based on an information gathered from the Investigation Wing of the Department and admittedly since the statements were recorded behind back of the assessee and the AO has made the addition without giving any opportunity to cross examine according to me cannot be the basis of an addition, when the fact is that assessee has produced all the relevant documents like purchase bills, VAT registration of the sellers, C.S.T, bank transaction details etc., which are available in the paper book, therefore the addition is not warranted and cannot be sustained. Therefore, allow both the appeal(s) of assessee and direct the AO to delete the addition(s) made by the AO and confirmed by the ld. CIT(A). - Decided in favour of assessee.
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