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ITO-25 (1) (3) , Mumbai Versus Shri Ashok H Sancheti

2017 (7) TMI 423 - ITAT MUMBAI

Unexplained expenditure u/s.69C - bogus purchase bills - G.P. determination - Held that:- AO has made addition in respect of bogus purchases and found that notices issued to all these bogus suppliers u/s.133 (6) were returned undelivered by postal authorities and assessee also failed to produce the parties before the AO. However, the CIT(A) has not dealt with this observation of AO and without controverting AO’s finding deleted entire addition made on account of bogus purchases. - From the r .....

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um/2014 - Dated:- 6-2-2017 - Shri R.C.Sharma, AM And Shri Ravish Sood, JM Revenue by : Shri A. Ramachandran Assessee by : Shri B.V.Jhaveri ORDER Per R. C. Sharma ( A. M ) This is an appeal filed by the revenue against the order of CIT(A)-35 dated 30.06.2014 for the assessment year 2010-11 in the matter of order passed u/s.143(3) of the IT Act wherein Revenue is aggrieved for deletion of addition of ₹ 2,61,77,677/- u/s. 69C of the IT Act. 2. Rival contentions have been heard and record peru .....

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stal authorities. AO further observed that on scrutiny of the details, it was noticed that these purchase parties are bogus purchase parties declared by the Sales Tax Department on their website as hawala bogus / suspicious parties. Therefore, the assessee vide office letter dated 8.2.2013 was asked to show cause as to why these purchases should not be treated as unexplained expenditure u/s.69C and assessee was asked to produce the above parties to substantiate his claim alongwith documentary ev .....

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s u/s.133(6) were returned unserved and thirdly, on the ground that the assessee was not able to produce the purchasers for verification even though he was given the opportunity to do so. The appellant on the other hand. Has submitted all the details of the purchase bills, the source of payment through bank account and the factum of the sales being made on the' basis of said purchases which has not been disputed by the AO. .The appellant has 'submitted therefore,' that these purchase .....

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. Ltd of the jurisdictional Hon'ble High Court is found to directly apply to the facts of the present case. In the light of the said decision the appeal is allowed. 5. Against the above order of CIT(A), revenue is in further appeal before us. It was argued by learned DR that the learned CIT(A) grossly erred in not appreciating the fact that the notices under 133(6) issued to the parties from whom alleged bills were received were returned undelivered by the postal authorities and the assessee .....

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