Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s. Kalyani Medical Stores Versus Commissioner of Income Tax, Burdwan & Another

2016 (6) TMI 1032 - CALCUTTA HIGH COURT

Bogus purchases - whether the assessee failed to establish the genuineness of the purchases from JKDPL as claimed by it? - Held that:- We have enquired of Mr.Biswas and from his submission we understand that the purchase bills of less than ₹ 20,000/- were not produced. The payments, according to him, were made all in cash. The stock register was not produced. The absence of these documents go to suggest that the purchase from JKDPL may be a bogus purchase. In any event the view taken by th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ssee admits that the sale was for the aforesaid sum. What the assessee has done is that he tried to reduce the profit by showing artificial purchases. When the assessee was unable to show genuineness of those purchases the amount of profit is bound to be increased. - Decided against the assessee. - ITA No. 316 of 2009 - Dated:- 15-6-2016 - Girish Chandra Gupta And Asha Arora, JJ. For the Appellant : Mr. R. K. Biswas, Mr. Avra Mazumder For the Respondents : Mr. P. K. Bhowmick, Advocate ORDER The .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

had failed to prove the purchases to the extent of ₹ 9,23,142/-. He, therefore, added the aforesaid sum to the income of the assessee and in an appeal filed by the assessee, the CIT deleted the addition. In a further appeal filed by the revenue, the learned Tribunal by its order dated 10th May, 2006 restored the matter to the file of the assessing officer giving one more opportunity to the assessee to prove purchases worth ₹ 9,23,142/- from JKDPL. In spite of opportunity being grant .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rred by the assessee, the learned Tribunal confirmed the addition relying on the judgment of the Andhra Pradesh High Court in the case of CIT Vs. Transport Corporation of India and a judgment of the Supreme Court in the case of CIT Vs. Calcutta Agency Limited, where it was held that if the assessee failed to establish the fact necessary to support his claim for deduction, the claim was not admissible. It is against this order of the learned Tribunal that the present appeal has been preferred by .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

case the Tribunal is justified in law in confirming the addition of ₹ 8,70,641/- as bogus expenditure in absence of primary evidence after totally ignoring all the secondary evidence namely books of accounts, cash book, purchase ledger, profit and loss account and balance sheet etc. of the assessee firm produced by the appellant before the Tribunal in support of its claim when all the items of medicines deals with by the Appellant are M.R.P. (Maximum Retail Price) based products ? (ii) Wh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

m the judgment of the learned Tribunal our attention has not been drawn by Mr.Biswas to any discussion as regards any secondary piece of evidence to show that the aforesaid purchases were made. On the contrary, the finding recorded by the learned Tribunal in that regard is as follows:- the assessee failed to establish the genuineness of the purchases from JKDPL as claimed by it We have enquired of Mr.Biswas and from his submission we understand that the purchase bills of less than ₹ 20,000 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version