9911796707
TMI Blog2014 (6) TMI 602X X X X Extracts X X X X X X X X Extracts X X X X ..... sed Products. Assessee electronically filed his return of income for A.Y. 2010-2011 on 12.10.2010 declaring total income of Rs. 64,56,11,410/- which was later revised on 30.09.2011 by revising the total income to Rs. 64,10,35,960/-. The case was selected for scrutiny and thereafter the assessment was framed u/s. 143(3) vide order dated 18.03.2013 and the total income was determined at Rs. 73,60,50,933/-. Aggrieved by the order of A.O, Assessee carried the matter before CIT(A). CIT(A) vide order dated 15.07.2013 granted substantial relief to the Assessee. Aggrieved by the order of CIT(A), the Revenue is now in appeal before us and has raised the following effective ground:- The ld. CIT(A) has erred in law and on facts in deleting the additi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d dealers). Aggrieved by the order of A.O, Assessee carried the matter before CIT(A). CIT(A) deleted the addition by holding as under:- 2.4 Decision: I have carefully considered the facts of the case, the assessment order and various written submission made by the appellant. The assessing officer has made the addition of Rs. 9,31,09,522/- on account of certain purchases made from M/s. Amber Trading Co by treating the same as bogus purchases as it were made from an unregistered dealer by Amber Trading Co. The assessing officer has held that similar additions were made for assessment year 2008- 09 and assessment year 2009-10 and the appellant did not give any new evidence to prove the purchases and therefore, the same were treated as unexpl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther hand ld. A.R. submitted that on identical facts for assessment year 07-08 to 09-10 the Hon'ble Tribunal decided the issue in favour of Assessee. He further submitted that against the order of Tribunal, Revenue had preferred appeal before Hon'ble Gujarat High Court and the Hon'ble Gujarat High Court confirmed the order of Tribunal. He placed on record the copies of the aforesaid orders of High Court and Tribunal. He therefore submitted that since the issue under appeal are identical to that of earlier years and since in earlier years, the issue has been decided in favour of Assessee no addition was called for. He thus supported the order of CIT(A). 7. We have heard the rival submissions and perused the material on record. We find that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... supported the assessment order whereas ld. A.R. supported the order of CIT(A). 3.9 We have considered the rival submissions, perused the material on record and have gone through the orders of authorities below. We find that the disallowance in respect of purchases from Amber Trading Company was made by the A.O. on this basis that out of total purchases claimed by the assessee from Amber Trading Co. of Rs.4123.10 lacs, total un registered dealers (URD) purchases made by Amber Trading Co. in assessment year 2008-09 is Rs.2119.45 lacs. The A.O. was of the view that the URD purchases of Amber Trading Co. is bogus and as a consequence, the purchases of the assessee company from company from Amber Trading Co. is also to be held as bogus to the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that in the case of the assessment of M/s. Amber Trading Companyitself, such purchases were accepted and found genuine. That being the situation, the Tribunal in our opinion correctly did not accept the Revenue's appeal, making following observations:- 9. Before us, it is admitted by both the parties that the facts of the case in the year under appeal are identical to that of earlier years. Even CIT(A) while deciding the appeal has held that the facts of the case in the year under appeal are identical to the facts for A.y. 08-09 and 2009-10. CIT(A) while deleting the addition has also noted that A.O did not issue any summons u/s. 131 of the Act to Amber Trading Company and Assessee was also not informed about non production or non attend ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
