9911796707
TMI Blog2012 (4) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 for assessment year 2007- 08. The main ground of appeal is as under:- On the facts and in circumstances of the case, the Ld CIT(A) XXV, New Delhi has erred in deleting the addition of ₹ 14,40,936/- made by Assessing Officer on account of bogus purchases. 2. The Brief facts of the case are that the assessee is a sole proprietor and is doing business under the name style as M/s J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the following observations in the assessment order:- It is seen that the stock register has not been maintained individual item-wise (such as black oval, feroza, moni coral etc). Whereas the bills of Anshu Gems filed by the assessee gives descriptions like Feroza shap, Moni Black Oval, Feroza Incut etc. In these circumstances it is held that the assessee failed to establish to my satisfacti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer has not made any independent enquiry to find out any bogus purchases and the claim of purchase has been disallowed without any proper verification. iii) That sales cannot be made without the corresponding purchases and this fact has been ignored by the Assessing Officer. 4. On the basis of these submissions, the CIT(A) deleted the addition. The relevant para of CIT(A) s order is re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of bogus purchase and as such I find it difficult to sustain such addition without any corroborative evidence and accordingly, the appeal of the assessee is allowed and the addition is made by the Assessing Officer is deleted. 5. Aggrieved the Department is in appeal before the Tribunal. 6 The Ld DR pleaded that M/s Anshu Gems were surveyed And during the recording of statement the propri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of the report of DIT (Inv.), even though the monthly purchase bills pertaining to the purchases, nor the factum of payment through cheque did not stand disproved by anything brought by the Assessing Officer. Hence, the CIT(A) s order does not call for any interference and it is confirmed. 9. In the result, the appeal filed by the revenue is dismissed. 10. Order pronounced in the open c ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
