TMI Blog2020 (1) TMI 1144X X X X Extracts X X X X X X X X Extracts X X X X ..... We should not interfere with the impugned order passed by the Tribunal as the view taken by the Tribunal is quite reasonable. - R/TAX APPEAL NO. 888 of 2019 - - - Dated:- 20-1-2020 - HONOURABLE MR. JUSTICE J.B. PARDIWALA AND HONOURABLE MR. JUSTICE BHARGAV D. KARIA Mr M.R. Shah, Ld. Sr. Adv. for Mrs Mauna M Bhatt for the Appellant ORAL ORDER PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA 1. This Tax Appeal, under Section 260A of the Income-tax Act, 1961 (for short the Act, 1961 ), is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, B Bench, Ahmedabad dated 15.07.2019, in the ITA No.2248/Ahd/2017 for the A.Y.2010-11. 2. The substantial question of l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se/sales transaction with any person. 6. Ultimately, the Assessing Officer took a view that the parties concerned had provided only bogus entries/bills and no actual delivery of goods had taken place. The Assessing Officer has also noticed that the assessee had shown total purchases during the year at ₹ 2,72,72,367/-. The assessee had entered into bogus purchases transactions to the tune of ₹ 63,44,326/- with various parties and therefore, out of total purchases shown by the assessee, the transaction worth ₹ 63,44,326/- were evidently bogus. 7. Being aggrieved and dis-satisfied with the order passed by the Assessing officer, the assessee preferred an Appeal before Appellate Tribunal. The Appellate Tribunal placed r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontextually, the assessee had declared 7.31% towards profit on such alleged bogus purchases. As stated, the relevant documents including invoice, payment through banking channel, quantity tally were made available to the Revenue authorities. The cross examination of the suppliers was not provided despite requests. In these circumstances, we find considerable merit in the case of the assessee in the light of the decision of the Hon ble Gujarat High Court in Gujarat Ambuja Exports (Supra); CIT Vs. Bholanath Poly Fab Pvt. Ltd. 355 ITR 290 (Guj) and the decision of the Hon ble Supreme Court in the case of PCIT Vs. Tejua Rohitkumar Kapadia arising out of the decision of the Hon ble Gujarat High Court in Tax Appeal No.691 of 2017, judgment dated ..... X X X X Extracts X X X X X X X X Extracts X X X X
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