2018 (3) TMI 1467

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..... d necessary details of all transactions and persons with whom such transactions were made. Wherever there was lack of response from these persons during the assessment, the Commissioner of Income Tax (Appeals) believed the genuineness of the transactions on the basis of the remand report called for during the appellate proceedings. The issues are thus, purely factual in nature. Commissioner of Inc .....

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..... transactions as required u/s. 68 of the Act, because the creditors did not respond to the notices issued u/s. 133(6) by the AO and none appeared before any authority ? [B] Whether the Tribunal is justified in law in deleting the addition on account of Advances received from customers of ₹ 74,88,382/made by the AO though the assessee did not fulfill the requirement of proving the genui .....

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..... Appeals). Such deletions were confirmed by the Tribunal. 3. Having heard learned counsel for the parties and having perused the documents on record, we notice that Commissioner of Income Tax (Appeals) as well as the Tribunal concurrently held that the assessee had at the outset, contrary to what was observed by the Assessing Officer, supplied necessary details of all transactions and persons wi .....

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