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2020 (10) TMI 791 - AT - Income TaxValidity of reopening of assessment - as argued reopening on the basis of satisfaction recorded by some other authority (i.e. third party) like Sale Tax, Mumbai - non recording of own satisfaction - bogus purchases - HELD THAT:- After going through the judgment passed by the Hon’ble Supreme Court of India in the case of ACIT vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd.[2007 (5) TMI 197 - SUPREME COURT] we are of the view that the reopening of the assessment on the basis of the specific information is legally valid - Decided against assessee. Bogus purchases of material - Documentary evidences filed by the assessee for substantiating the claim of assessee and establishing the genuineness of purchase of packing material from the two parties which has not been falsified by the AO by making any enquiry or producing any documentary evidences contrary to the evidences filed by the assessee - DR has not filed any contrary evidences before us to falsify the claim of the assessee - Thus on the basis of the documentary evidences filed by the assessee for substantiating the claim and the genuineness of purchase packing material from two parties i.e. M/s DD Motors Corporation and M/s Amit Trading Co. are quite genuine. CIT(A) has wrongly dismissed the appeal filed by the assessee by upholding the order of the Assessing Officer on merits - Decided in favour of assessee.
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