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TMI Blog2016 (5) TMI 1275X X X X Extracts X X X X X X X X Extracts X X X X ..... tion made u/s 68 is liable to deleted, since part of the transactions have been accepted by the AO. The addition towards bogus purchases cannot also be sustained, since parts of the purchases have been accepted and further no enquiry has been conducted to prove the bogus nature of purchases. Accordingly, we set aside the order of Ld CIT(A) and direct the AO to delete this addition. - Decided in favour of assessee Addition made u/s 40(a)(ia) - retrospectivity - Held that:- We set aside the order passed by Ld CIT(A) on this issue and restore the same to the file of the AO with the direction to examine the same afresh in the light of decision in the case of CIT Vs. Ansal Land Mark Township P Ltd [2015 (9) TMI 79 - DELHI HIGH COURT] and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Officer thereon. Based on the remand report, the learned CIT(A) deleted the addition relating to Theme Inc. In respect of balance outstanding in the name of Ascent Enterprises, learned CIT(A) confirmed the same, since the its name appeared in the list of hawala operators prepared by the Sales Tax Department. 5. Before us, the Ld A.R submitted that the assessee has sold the goods and the same is not possible without making corresponding purchases. He further submitted that the assessee has purchased goods from M/s Ascent Enterprises to the tune of ₹ 24,23,285/- during the year under consideration and has made payment to the tune of ₹ 12,24,010/- leaving a balance of ₹ 11,99,275/-. The tax authorities have made the add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me of M/s Ascent Enterprises finds place in the list of Hawala traders. The ingredients for making addition u/s 68 are different from the ingredient for making addition towards bogus purchases. However, the addition made u/s 68 is liable to deleted, since part of the transactions have been accepted by the AO. The addition towards bogus purchases cannot also be sustained, since parts of the purchases have been accepted and further no enquiry has been conducted to prove the bogus nature of purchases. Accordingly, we set aside the order of Ld CIT(A) and direct the AO to delete this addition. 7. The next issue relates to the addition made u/s 40(a)(ia) of the Act. The Ld A.R., by placing reliance on the decision dated 26-08-2015 rendered by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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