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TMI Blog2021 (4) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... e bills were shown to the partner, the partner admitted that these bills have been signed by himself. Shri Lodha also explained the mode of payment received from the assessee. Since the purchases with M/s Parvati exports have been duly verified, we do not find any reason why addition should have been made in this respect. We, accordingly, direct the Assessing Officer to delete the addition on account of purchases made from M/s Parvati Exports. In so far as purchases made from Mukti exports is concerned, we find that the appellant has submitted flight/air tickets copy from Delhi to Surat. We also find that sales made out of purchases have been duly accepted by the Assessing Officer. Notice issued u/s 133(6) of the Act was fully served and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 51,23,787/-. Since both the appeals relate to same set of facts, we deem it fit to consider the facts for disposal of the captioned appeals. 3. Briefly stated, the facts on record show that search and seizure action u/s 132 of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'] was conducted in the case of Shri Bhanwarlal Jain on 03.10.2013 by the Investigation Wing, Mumbai. During the course of search action, it came to notice that Shri Bhanwarlal Jain, alongwith his sons Shri Rajesh Bhanwarlal and Shri Manish Bhanwarlal, were operating and managing large number of benami concerns in the name of their employees through which they provided accommodation entries for bogus purchases to various beneficiaries. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee has failed to provide any proof whatsoever regarding the receipt of such purchases. According to the Assessing Officer, no documentary evidence like train/travel tickets and bills for hotels etc have been produced to prove that the employee had actually travelled from Delhi to Surat. The Assessing Officer concluded the assessment proceedings by making an addition of ₹ 2,04,95,150/-. 8. The assessee assailed the assessment order before the ld. CIT(A) and reiterated its contention that all the purchases were genuine and duly recorded in its books of account which were subject to audit. No adverse inference has been drawn in so far as sales made out of alleged bogus purchases is concerned. 9. During the course of appellate pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further find that vide letter dated 23.02.2015, Income Tax Officer, Ward 2(3)(8) Surat addressed to the ACIT, Circle 53(1), New Delhi has categorically stated that M/s Parvati Exports might have shifted somewhere else and further that due to centralization of search cases, Parvarti Exports case has been transferred to ACIT, Circle 1(3), Mumbai. This letter is exhibited at page 161 of the paper book. 14. There is no denying that before the first appellate authority on 21.102016, the partner of Parvati Exports appeared and whose statement has been recorded by the first appellate authority. A perusal of the statement clearly shows that the partner has categorically admitted the transaction with M/s Jain Jewellery. When the bills were shown ..... X X X X Extracts X X X X X X X X Extracts X X X X
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