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2015 (11) TMI 281 - DELHI HIGH COURT

2015 (11) TMI 281 - DELHI HIGH COURT - TMI - Commission for issuing the DDs and POs - CIT deleted the additions made in the hands of the Assessee only on the ground that in Ravinder Yadav's hand they have already been taxed - revenue contented that all the sales shown in the books were in fact bogus sales - Held that:- The CIT (A) in its order pointed out that as far as the Assessee is concerned it has in fact accounted all the receipts from the sales made to the different parties by producing a .....

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ve factual findings of the CIT (A) and the ITAT warranting interference. - Decided against revenue. - ITA 365/2015, ITA 417/2015, ITA 522/2015 - Dated:- 21-8-2015 - DR. S.MURALIDHAR AND MR. VIBHU BAKHRU, JJ. For The Appellant : Ms.Suruchi Aggarwal, Senior Standing counsel with Ms. Lakshami Gurung, Junior Standing counsel. For The Respondent : Mr. Ved Jain, Advocate with Mr. Pranjal Srivastava, Advocate. ORDER 1. These three appeals by the Revenue under Section 260A of the Income Tax Act, 1961 ( .....

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der Section 153A (1) of the Act, the Assessee filed returns of income identical to the ones already filed for the AYs. 3. The information available with the intelligence wing preceding the search was that there were certain high volume cash transactions in the bank account of one Mr. Ravinder Yadav, maintained by him in the name of M/s Ravinder & Co. There were debits and the credits to the tune of ₹ 677.28 lakhs and ₹ 677.14 lakhs respectively for the financial year 2006-07. In .....

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see was concerned the AO noted that for the AY 2006- 07, an amount of ₹ 1,17,12,111 was received by the Assessee from the bank account of Mr. Ravinder Yadav. In response to the a query raised by the AO as regards the genuineness of the sales purportedly made by the Assessee, a reply was filed by it on 10th December 2010, inter alia, stating that as a policy matter the Assessee did not sell goods against cash and insisted that the customers should make payments through banking channels only .....

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made against C Form from Jindal Polymers Ltd. as well as the goods covered under VAT charged by it. The copies of the sales tax returns were also filed to substantiate that details of the sales made were duly furnished to the Sales Tax Department. 5. The AO, however, was of the view that the Assessee had been unable to furnish proof to establish the physical sales of the goods to the parties concerned as no details regarding the transportation, delivery challans were filed. It was observed that .....

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