9911796707
TMI Blog2017 (8) TMI 1426X X X X Extracts X X X X X X X X Extracts X X X X ..... the name of their firms M/s. Om Sai Enterprises, M/s. Om Shiv Enterprises, M/s. Mahadev Enterprises and M/s. Nisha Enterprises and that the payments were received by them in the individual capacity as the bank accounts were in their names and in the name of one of the firm M/s. Nisha Enterprises.The Assessing Officer is not correct in holding that the aforesaid purchases were bogus inasmuch as th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned counsel for the respondent. This appeal has been preferred by the revenue against the order of the Income Tax Appellate Tribunal dated 21.02.2017. The first and foremost question sought to be raised in this appeal is:- Whether the purchases of rice bran by the respondent -assessee are bogus in nature under the facts and circumstances of the case. The submission of Shri Praveen Kum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nisha Enterprises.The Assessing Officer is not correct in holding that the aforesaid purchases were bogus inasmuch as the supplies were made by Party (A) and payments were made to Party (B). In fact the supply and payment were made to the same parties but with different names. The findings of CIT (A) have been accepted by the tribunal and it has been held that the purchases are not bogus at al ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
