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2019 (10) TMI 1561 - ITAT DELHIReopening of assessment u/s 147 - unexplained investment - HELD THAT:- AO has issued notice u/s. 133(6) of the Act to the purchaser but no response was received, meaning thereby that assessee has taken the bogus entry to evade the tax. Therefore,AO as well as Ld. CIT(A) have rightly held that party from whom the purchases were made by the assessee, were found to be bogus and that is the reason for which it was not produced during the assessment proceedings. Not having doubted the consumption / sales, the motive behind obtaining bogus bills thus, appears to be inflation of purchase price so as to suppress true profits. Assessee has failed to place on record any relevant material/evidence to controvert the well reasoned findings of the revenue authorities. Hence, no infirmity in the findings of the revenue authorities and upheld the finding of the Ld. CIT(A) on the issue in dispute in sustaining the addition - Decided against assessee.
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