2023 (9) TMI 1169 - SCH - Income Tax

Bogus purchases - addition AO made has primarily relied upon some information received from the office of the Director General of Income Tax (Investigation), Mumbai - as decided by HC 2021 (12) TMI 21 - BOMBAY HIGH COURT respondent has discharged its onus by producing the books of accounts, stock register, stock tally and also filed various documentary evidences such as statements of banks and once respondent has discharged this burden, the onus shifts to the Revenue and the AO has not conducted any independent inquiry or further verification of the records produced before him - HELD THAT - No justifiable reason for condoning the delay. Hence, the Special Leave Petition is dismissed on the ground of delay.