TMI Blog2015 (7) TMI 1190X X X X Extracts X X X X X X X X Extracts X X X X ..... e towards purchases are duly reflected in the bank statements of the assessee which are exhibited at pages 71 to 80 of the paper book. Considering all these facts in the light of the decision of the Hon’ble Jurisdictional High Court in the case of CIT Vs M/s. Nikunj Eximp Enterprises Pvt. Ltd [2013 (1) TMI 88 - BOMBAY HIGH COURT ] which has been considered and relied upon by the Ld. CIT(A), we do not find any reason to interfere with the findings of the Ld. CIT(A) n delting addition - Decided in favour of assessee. - I.T.A. No. 5248/Mum/2013 - - - Dated:- 16-7-2015 - A. D. Jain (Judicial Member) And N. K. Billaiya (Accountant Member) For the Appellant : C.W. Angolkar For the Respondent : Ajay R. Singh ORDER N. K. Bill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t that M/s. Kripa Multi Trade Pvt. Ltd., is a hawala dealer is never known to it. The AO dismissed the claim of the assessee and added ₹ 1,27,54,500/- as unexplained expenditure u/s. 69C of the Act. 3. Aggrieved by this, the assessee carried the matter before the Ld. CIT(A) and reiterated its contention. After considering the facts and the submissions, the Ld. CIT(A) held as under: I have considered the stand of the A.O. as well as factual and legal submissions of the appellant. I have carefully gone through the assessment order, the relevant details and reports received from the Sales-tax Department and also the submissions and the case laws filed, by the Appellant. In this case it is seen that all the purchase made are recor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ul consideration to the orders of the authorities below. We have also considered the judicial decisions relied upon by the Ld. CIT(A) (supra). It is an undisputed fact that no adverse finding has been given in so far as sales are concerned. It is a settled proposition that without purchases, there cannot be any sales. It is also an undisputed fact that no adverse inferences have been drawn in so far as the purchase invoice of M/s. Kripa Multi Trade Pvt. Ltd is concerned. We find that the assessee has filed complete details of purchases above ₹ 2, 00,000/- made during the year under consideration. The details are exhibited at pages 22 23 of the paper book. We also find that the payments made by the assessee towards purchases are duly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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