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2016 (1) TMI 1113 - ITAT MUMBAI

2016 (1) TMI 1113 - ITAT MUMBAI - TMI - Bogus sales transactions - accommodation bills - denial of natural justice - Held that:- We find that the AO received certain pieces of information from the STD,that as per the information JE was supplying bogus bills,that the AO did not supply the copy of the statement of JE to the assessee and neither made him available for cross examination,that the assessee had filed all the details from placing of order to the receipt of final bills before the AO duri .....

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Court in the case of Nikunj Eximp Enterprises Ltd.(2013 (1) TMI 88 - BOMBAY HIGH COURT ) has held that if the AO accepts the sales as genuine,there cannot be any justification in rejecting the purchases.Information received from STD was a good starting point for further investigation.But,the AO stopped at that point itself and did not bring on record anything that could rebut the documentary evidence produced by the assessee.In our opinion,addition made by the AO was justifiably deleted by the .....

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₹ 5.28Crores.The AO completed the assessment on 15.02.2013,u/s.143(3) of the Act determining the income of the assessee at ₹ 5.51 Crores. 2.Effective ground of appeal is about deleting the addition made by the AO,amounting to ₹ 25.58 lakhs.During the assessment proceedings,the AO found that the assessee had made purchases of certain material from Jay Enterprise(JE).He had received certain information from the Sales Tax Department(STD)that JE was providing accommodation bills o .....

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ences.The FAA called for a remand report (RR)from the AO.The assessee argued before the FAA that it had furnished copies of delivery challans, invoices, store register,details of cheque payment and bank statements in connection with its dealing with JE,that purchases had been made nearly four years ago,that there was no further transaction with JE,that the AO had relied upon the information received from STD,that onus was on the AO that the purchases were bogus.After considering the submissions .....

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