9911796707
TMI Blog2018 (6) TMI 740X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Act, 1961 (hereinafter referred to as 'the Act') dated 25.03.2013. 2. The grievances raised by the Revenue are as follows: "1. On the facts and circumstances of the case and in law, ld. CIT(A) has erred in deleting the addition of Rs. 2,76,18,000/- which is bogus purchase as it was confirmed by the seller party that no transaction were made during the relevant financial year. 2. The appellant craves leave to add, alter, amend or modify the grounds of appeal during the course of hearing proceedings of this case." 3. The facts of the case may be briefly stated. During the assessment year the assessee company was engaged in the business of computer education and software development. The assessing officer noted that the assessee c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s treated as bogus and added back to the total income of the assessee company. 4. Aggrieved by the stand of the Assessing Officer, assessee carried the matter in appeal before the CIT(A) with success. The Revenue is aggrieved and is in appeal before this Tribunal. Learned Departmental Representative did not have much to say but he nevertheless relied upon the order of assessing officer. On the other hand, the ld. Counsel for the assessee has defended the order passed by the ld. CIT(A) . 5. We have heard learned arguments on both sides, perused the records, and we proceed to record our view and opinion on the issue under consideration. It is elementary that without purchases there could not have been any sales. The AO has accepted the sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the respective parties in this F.Y. 2010-11. Drawing adverse inference on this count, the AO added back the above two amounts totaling Rs. 2,76,18,000/- as bogus purchase. We note that at the appellate stage the AR of the assessee filed written submission in this regard to the effect that the purchases were actually made in the F.Y 2009-10, while sales were booked by the respective parties in F.Y 2010-11. In support of such transactions, books of account together with supporting documents and evidences were produced before the AO during the course of the assessment proceedings as well as during the remand proceedings. That the sales relating to such purchases were also recorded in the books of the assessee during the relevant assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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