TMI Blog2012 (10) TMI 517X X X X Extracts X X X X X X X X Extracts X X X X ..... the fact that all the sales made by the assessee stood recorded in the assessee’s books of account, which included the sales and purchase vouchers and stock registers maintained by the assessee on a day-to-day basis. These books of account were duly produced before the AO who examined them, on examination, no negative observation thereagainst was recorded. Most of the customers were assessed to income-tax. Sales were made against the opening stock. The purchases made during the year and the sales were but conversion of stock. The profit therefrom had already been taxed. The sale transactions were got confirmed by the Assessing Officer on a test check basis but more inquiries were made - Thus source of the expenditure incurred in purchases i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owances of purchases u/s 69C of the Act. The Ld. CIT (A) placed reliance on the decision of the Hon ble Delhi High Court in the case of CIT vs. M/s Radhika Creation , rendered in ITA No.692/2009. These observations were made by the Ld. CIT (A) after calling for a remand report from the Assessing Officer and considering the same and the assessee s rejoinder thereto. 6. Before us, the ld. counsel of the assessee contended that the matter is covered in favour of the assessee by the case of Anupama Links Pvt. Ltd. , heard on 04.10.2012. 7. The Ld. DR, on the other hand, has placed strong reliance on the impugned order. 8. Having considered the written submissions filed on behalf of the assessee and the contentions of the Ld. DR, it is s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing Officer on a test check basis. No more inquiries were made by the Assessing Officer thereafter. The assessee s books of account were audited books of account. The tax audit report was on record. The auditors had not made any negative observation therein. All these facts were duly taken into consideration by the Ld. CIT (A) and it was thereupon that the issue was decided in favour of the assessee. 9. So far as it regards Anupama Links Pvt. Ltd. , (supra), under similar facts and circumstances, the Tribunal, following CIT vs. M/s Radhika Creation , a judgement dated 30.04.2010, rendered by the Hon ble Delhi High Court, held the provisions of Section 69-C of the Act to be not applicable. Further, the matter is also covered by Babu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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