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PR. COMMISSIONER OF INCOME TAX-2 Versus SHANKAR U JATWANI

2016 (8) TMI 108 - GUJARAT HIGH COURT

Addition on account of unverifiable and bogus liability - ITAT deleted the addition stating that the same can't be added u/s. 41(1) or Sec. 68- Held that:- As the entire issue is based on appreciation of evidence on record. CIT (Appeals) as well as the Tribunal both concurrently found that the assessee had produced sufficient material to establish the claim. The Assessing Officer had raised demands which were not possible to meet with. - Decided against revenue - TAX APPEAL NO. 583 of 2016 - Dat .....

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perverse particularly in view of the fact that AO disallowed this expenditure after he found it bogus after due inquiry? 2. We have perused the judgements on record with the assistance of learned counsel for the Revenue. We notice that the addition made by the Assessing Officer came to be deleted by the CIT (Appeals) observing that, out of the total liability of ₹ 1.87 crores (rounded off), ₹ 92.58 lacs for the earlier years which was accepted, the Assessing Officer had not disputed .....

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sters, vouchers etc. containing number of trucks, date, party to whom material was supplied and such similar details. The LR registers were maintained on day-to-day basis. This method was regularly followed by the assessee and accepted by the department in earlier years. The Assessing Officer was not justified in asking for confirmation from the individual truck owners or their PAN which would be impossible since the Truck owners would be scattered all over the country, the LRs were duly stamped .....

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h persons and the complete details. He has also given a finding that on the verification of the Lrs, he found them it to be duly stamped and acknowledged by the buyers of the materials transported by the Assessee and vouchers were maintained in respect of payment to respective truck owners. He has further given a finding that the addition could not have been made either u/s. 68 or Section 41(1) of the Act as the provisions of the Act as the provisions of those sections were not applicable to the .....

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