Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Angad Exports Versus ACIT, Central Circle-10, New Delhi

2017 (12) TMI 359 - ITAT DELHI

Addition of bogus purchases - scope of jurisdiction of Section 153A - Held that:- From the order of the Assessing Officer it can be clearly seen that no incriminating material is found during the search activities. In-fact the group is engaged in the business of manufacturing and started through flag ship concerned M/s Tegh International. In-fact, the assessment was long back concluded and the same was not disputed by the Revenue authorities. - Decided in favour of assessee. - ITA No. 1461/DEL/2 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

de by the Assessing Officer on account of alleged bogus purchase is beyond the jurisdiction of provisions of Section 153A of Income Tax Act, 1961 and Commissioner of Income Tax (Appeals) erred in not holding so. 2. On the facts and circumstances of the case and in law, the Commissioner of Income Tax (Appeals) erred in confirming the addition of ₹ 46,19,000/- made by the Assessing Officer on account of alleged bogus purchases. 3. The assessee firm is engaged in the business of manufacturing .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

6/4/2010 and simultaneously the appellant s business premises at 49, Udyog Vihar, Phae-IV, Gurgaon, Haryana, was also covered u/s 132(1) of the Income Tax Act, 1961. A notice u/s 153A of the IT Act, 1961 dated 13/4/2011 was issued and served upon the assessee. In response to which the assessee filed return on 2/5/2011 declaring a total income of ₹ 38,07,540/-. Subsequently, notices u/s 142(1) along with a detailed questionnaire and u/s 143(2) were issued and served upon the assessee. In re .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

00/- on account of bogus purchases made through accommodation entries. 4. The assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of the assessee whereby confirming the addition of ₹ 46,19,000/- on account of bogus purchases. 5. The Ld. AR submitted that search and seizure operation u/s 132 of the Income-tax Act, 1961 is carried out in the case of the assessee on 26/4/2010 while completing the assessment u/s 153A/143(3). The Assessing Officer made the addition on .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

sessment without there being any incriminating material found during the search. Infact, in the entire assessment order, the Assessing Officer has not referred any seized material or other material for the year under consideration, having found. Thus, the action of the Assessing Officer was based on conjecture and surmises. Therefore, the addition made by the Assessing Officer on account of bogus purchases is not sustainable. The Ld. AR relied upon the Delhi High Court decisions in case of CIT V .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

er it can be clearly seen that no incriminating material is found during the search activities. In-fact the group is engaged in the business of manufacturing and started through flag ship concerned M/s Tegh International. In-fact, the assessment was long back concluded and the same was not disputed by the Revenue authorities. The ITAT in case of M/s Tegh International (supra) has allowed the appeal of the assessee therein and by applying the ratio of the Hon ble Delhi High Court decision in case .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

during the course of search so as to doubt the purchases. It was noticed that as on the date of search i.e. 26.4.2010, no assessment proceedings were pending for the year under consideration and the AO was not justified in disturbing the concluded assessment without there being any incriminating material being found in search. In fact, in the entire assessment order, the AO has not referred to any seized material or other material for the year under consideration having being found during the co .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

No. 707,709 and 713/2014 wherein the Hon ble High Court of Delhi has held as under:- 37. On a conspectus of Section 153A(1) of the Act, read with the provisos thereto, and in the light of the law explained in the aforementioned ITA Nos. 707,709 and 713 of 2014 of decisions, the legal position that emerges is as under: i. Once a search takes place under Section 132 of the Act, notice under Section 153 A (1) will have to be mandatory issued to the person searched requiring him to file returns for .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s in separate assessment orders for each of the six years. In other words there will be only one assessment order in respect of each of the six AYs in which both the disclosed and the undisclosed icnoem would be brought to tax iv. Although Section 153A does not say that additions should be strictly made on the basis of evidence found in the course of the search, or other post-search material or information available with the AO which can be related to the evidence found, it does not mean that th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version