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M/s Greentex Exports India Versus Income Tax -Ward 14 (2) (4) , Mumbai.

2016 (7) TMI 640 - ITAT MUMBAI

Addition under section 69C - addition on the basis of the report provided by the State Sales Department and the statements of the parties, as recorded by the Sales Tax Department - Held that:- As find from the record that though the assessee has provided documentary evidences but these documents have not been considered by the authorities below and they made the addition only on the basis of third person evidence without giving any opportunity to the assessee. Therefore, as felt that if the asse .....

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te service of notice. However, finding that the matter can be proceeded with in the absence of the assessee, I am doing so. 3. The brief facts of the case are that the assessee filed a return of income on 26.09.2009, declaring a total income of ₹ 12,56,635/-. Information was received from the Investigation Wing, vide letter F.No.DGIT/(Inv)/Carr.Field /2012-13, dated 26.12.2012, communicated vide letter F No.CIT-14/Corr. Field /2012-13 dated 27.12.2012 of CIT-14, Mumbai Office of DGIT, that .....

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n Traders Pvt.Ltd.Rs.1,08,859/- and (3) M/s Jain Trading Corporation ₹ 1,06,875/- totaling to ₹ 2,97,374/-. The case was proceeded with u/s 147 and 148 of the Income Tax Act, 1961 and the statements were recorded from the above three parties. The AO issued notice u/s 148 to the assessee, calling for it to explain as to why these purchases should not be treated as bogus purchases and added to the total income of the assessee. In response, the assessee asked the AO to provide the copie .....

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whereas the notice issued to M/s Motion Traders Pvt Ltd returned unserved. Therefore, the AO was of the opinion that the assessee had failed to substantiate the claim and, accordingly, he made an addition of ₹ 2,97,374/-as unexplained expenditure u/s 69C of the Act and framed the assessment u/s 143 r.w.s.147 of the Act at an amount of ₹ 15,54,010/-.Aggrieved by the decision of the AO, the assessee preferred an appeal before the ld.CIT(A). The ld. CIT(A) confirmed the action of the A .....

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has been made by the appellant for the bogus bills obtained from these suppliers. Hence, the order of the AD is therefore upheld and this ground of appellant is dismissed. 4. The IInd ground of appeal is regarding addition of ₹ 1,06,875/- on account of Unexplained Expenditure in the case of Returned Goods. Regarding purchase of ₹ 1,06,87S/- from Jain Trading Co. the assessee has claimed that purchases debited in the accounts has been reversed in subsequent year since the goods have .....

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. The appellant has not shown the physical quantitative tally of the good so purchased with the statement of inventory as on 31.03.2009. Therefore, veracity of the claim is not verifiable. Moreover any payment for this purchase by account payee cheque is also not shown. Therefore, the addition made by the AO in this regard is hereby upheld. However, to avoid double taxation, if any, the assessee may undertake appropriate remedial measure in A. Y. 2010-11 Aggrieved by the order of ld.CIT(A), the .....

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hough the assessee has provided documentary evidences but these documents have not been considered by the authorities below and they made the addition only on the basis of third person evidence without giving any opportunity to the assessee. Therefore, in view of this legal and factual aspect, I feel that if the assessee be given opportunity before the AO to substantiate its case, it will meet the ends of justice and no prejudice would be caused to the revenue. It is seen that this Tribunal has .....

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certain dealers, who were alleged to have been providing accommodation entries without doing actual business. The AO noticed that the assessee made purchases to the tune of ₹ 38.69 lakhs from two parties named M/s Umiya Sales Agency Pvt Ltd and M/s Mercury Enterprises, whose names found place in the list provided by the Sales Tax Department. The AO placed full reliance on the enquiries conducted by Sales Tax Department in respect of the parties, referred above. Accordingly, the AO took th .....

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s of the Tribunal in the following cases : a) Ramesh Kumar and Co V/s ACIT in ITA No.2959/Mum/2014 (AY-2010-11) dated 28.11.2014; b) DCIT V/s Shri Rajeev G Kalathil in ITA No.6727/Mum/2012 (AY-2009-10) dated 20.8.2014; and c) Shri Ganpatraj A Sanghavi V/s ACIT in ITA No. 2826/Mum/2013 (AY-2009-10) dated 5.11.2014 In all the above said cases, the Co-ordinate Benches of the Tribunal has held that the AO was not justified in making the addition on the basis of statements given by the third parties .....

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