TMI Blog2016 (8) TMI 1476X X X X Extracts X X X X X X X X Extracts X X X X ..... bogus bills to the assessee, no evidence was brought on record to prove that the assessee had received cash back from the said parties. The assessee maintained books of accounts, which have been audited. The purchases made from these two parties have been duly entered in the stock record. The books of the said two suppliers have also been audited and the sales made to the assessee find place i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 265 of 2008 - - - Dated:- 1-8-2016 - Mr. KS Jhaveri and Mr. G.R.Udhwani, JJ. Mr Sudhir M Mehta, Advocate for the Appellant. Mr Darshan K. Patel For Mr. Rk Patel, Advocate For The Opponent. ORAL JUDGMENT Mr. KS Jhaveri, 1. The Revenue has filed this Tax Appeal under Section 260A of the Income Tax Act, 1961 against the order dated 18. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onus of proof to prove the purchase of diamond valued at ₹ 2,11,78,966/ ? 2. The facts in brief are that the respondent herein is a registered firm engaged in the business of export of Diamonds. The respondentassessee filed its return of income on 05.10.2001 for the A.Y. 2001 02 declaring total income at ₹ 33,04,304/ . At the end of assessment scrutiny, the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d issued bogus bills to the assessee, no evidence was brought on record to prove that the assessee had received cash back from the said parties. The assessee maintained books of accounts, which have been audited. The purchases made from these two parties have been duly entered in the stock record. The books of the said two suppliers have also been audited and the sales made to the assessee find pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. In view of the above discussion, we are of the opinion that the Tribunal was completely justified in confirming the order passed by CIT(A). We are in complete agreement with the concurrent findings recorded by the Tribunal and the CIT(A) and hence, find no reasons to entertain this appeal. The questions raised in this appeal are answered accordingly. 7. For the foregoing reasons, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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