9911796707
TMI Blog2019 (12) TMI 1222X X X X Extracts X X X X X X X X Extracts X X X X ..... of the I T Act 1961 in the absence of any defect being pointed out, when the required detailed information was submitted by the Appellant and Form 3CD Audit Tax Report was also filed. B. The Ld. Commissioner (Appeals) has erred in holding that the onus was not discharged by the Appellant and has failed to appreciate and no justification is given to reject the explanation/clarification given by the Appellant when all the necessary supporting documents were submitted by the Appellant. C. The Ld Commissioner (Appeals) has failed to consider and appreciate the purchase of RS.737291/- as genuine purchase from M/s. Swastik Enterprises, in the light of the fact that vide letters dtd.27.6.2016, 31.5.2016 and 24.5.2016, the Appellants had file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 09 (5.20%) non hawala years, which would be 4.90% and therefore the suppressed profit would come to 0.17% (4.90% (-) 4.73% which works out to Rs. 2,22,452/- (13,08,53,927 x 0.17/100). G. The Appellant craves leave of this Hon'ble Tribunal to add, delete, amend or modify any of the above grounds if necessary before the Appeal is finally decided. 2. Brief facts of the case are that the assessee is engaged in the business of yarn processing & dyeing, filed his return of income on 31.08.2009 declaring total income of Rs. 8,99,460/- for Assessment Year 2009-10. The return of income was processed under section 143(1). The case was selected for scrutiny and assessment was completed under section 143(3) on 31.03.2011 assessing total income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 44,200/- Total 9,68,691/- 3. The assessee was asked to substantiate the purchases and to furnish the name of dealers, Bills &, Vouchers, description of goods purchased, quantity, rate and amount, the date of dispatch of goods and the name of place along with mode of transportation by road or other mode, Vehicle Number, and payment details. The assessee was also asked to furnish the corresponding sales of goods. The Assessing Officer noted that the purchases reflected in the books of account of the alleged hawala parties, were not properly supported with the relevant document like transportation bills, delivery challan, goods receiving note and octroi receipt. The Assessing Officer on the basis of material available before him and o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5. We have heard the submission of Authorized Representative (AR) of the assessee and ld. Departmental Representative (DR) for the revenue and perused the material available on record. The ld. AR of the assessee submits that the ld. CIT(A) while restricting the addition as mechanically made the disallowance of Rs. 6,15,013/-, which is excessive. The ld. AR of the assessee further submits that the assessee made purchases of Dyes and Chemical. The assessee furnished complete details in the form of ledger accounts, purchase invoices, delivery challans showing goods received by the assessee. The payments were made through cheques/banking channel. The purchases were duly entered in the books of account and purchase register. Entire purchases ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affair was observing Jain Parushan from 29th August 2016 to 5th September 2016 and thereafter attended pilgrimage at Pali Thana Jain Temple and return to Mumbai on 13.09.2016 and the appeal was filed immediately after proper consultation with Advocate on 27.09.2016. The delay is neither intentional nor deliberate and the Bench may take a lenient view in condoning the delay as the assessee has good case on merit. 7. On the other hand, the ld. DR for the revenue on the issue of condonation of delay submits that the bench may take appropriate decision as per their discretion. 8. On merit, the ld. Departmental Representative (DR) for the revenue supported the order of lower authorities. The ld. DR further submits that Investigation Wing of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ised as many as seven grounds of appeals. Ground No.1 relates to rejection of books of accounts, we noted that the ld AR for the assessee has not argued in support of this ground, therefore, this ground is treated as not pressed and dismissed. Rest of the grounds of appeal are related to the disallowance of bogus purchases. The assessing officer made the additions/ disallowance by taking view that the assessee has shown purchases from the parties which are identified as hawala dealers by Sales Tax department of the State Government. The list of such hawala dealers was forwarded by the sales tax department to the investigation wing of Income -tax authorities and the assessee was shown as one of the beneficiary. And that during the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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