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2021 (2) TMI 664 - AT - Income TaxAddition u/s 41(1) - additions towards sundry creditors as bogus - CIT-A deleted the addition - HELD THAT:- CIT (A) has considered the plea of the assessee that since it had furnished the details of payments made to the sundry creditors appearing in the books as on 31st March, 2013, the AO should have issued notices u/s 133 (6) and called the details of the outstanding balances. Further, the Ld. CIT (A) has pointed out that seven creditors have filed suits for recovery against the assessee. Further, the Ld. CIT (A) has relied on the judgment of the Hon’ble Supreme Court in the case of CIT vs. Sugauli Sugar Works Pvt. Ltd. [1999 (2) TMI 5 - SUPREME COURT] - Hence, in our considered view, the findings of the Ld. CIT (A) are based on the evidence on record and in accordance with the settled principles of law. We therefore do not find any infirmity in said order to interfere with. - Decided against revenue. Bogus purchases - assessee failed to furnish full details to prove genuineness of the transaction despite several opportunities given by the AO - CIT (A) has deleted the addition holding that the opening and closing balance of the sundry creditors remain intact through of the years - HELD THAT:- We notice that the AO made the disallowance in question holding that the assessee had made payments in cash to 24 parties. However, the Ld. CIT (A) noted that the opening balance of most of the parties remained unchanged as on 01.04.2012 and 31.03.2013, which shows that no payments were made by the assessee. Hence, we do not find any infirmity in the order of the Ld. CIT(A). We accordingly uphold the findings of the Ld. CIT (A) and dismiss this ground of appeal of the revenue.
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