9911796707
TMI Blog2021 (1) TMI 1295X X X X Extracts X X X X X X X X Extracts X X X X ..... we not inclined to interfere with the decision of learned Commissioner (Appeals) on the issue. Validity of issuance of notice u/s 148 - As it is very much clear, initially the returns of income filed by the assessee were not subjected to scrutiny but were only processed u/s 143(1) - Subsequently, AO had received specific information indicating that certain purchases made by the assessee are non-genuine. Therefore, tangible material was available with the Assessing Officer to reopen the assessments u/s 147 of the Act. That being the case, there cannot be any question regarding assumption of jurisdiction u/s 147 of the Act. - Decided against assessee. - ITA No. 3749/MUM/2019, ITA No. 3750/MUM/2019 - - - Dated:- 18-1-2021 - SHRI SAKT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r called upon the assessee to prove the genuineness of the purchases through supporting evidences such as current address of the sellers, transportation details, goods dispatch/receipt note etc. The Assessing Officer also called upon the assessee to furnish the qualitative details of purchasers and sellers along with stock register. As observed by Assessing Officer, though, the assessee furnished few details, it could not link purchases with corresponding sales and books of accounts were also not produced. The Assessing Officer further observed that the assessee through submission /order sheet noting dated 16.02.2018 requested to complete the assessment after making reasonable addition. Thus, on the basis of submissions made by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee could not link the purchases with corresponding sales and books of accounts were also not produced for verification. He has also observed that the assessee had requested to complete the assessment after making reasonable additions. Considering these facts the Assessing Officer had disallowed 12.5% of the alleged non-genuine purchases which has been sustained by the learned Commissioner (Appeals). The fact that the assessee failed to prove the genuineness of purchases before the Departmental Authorities is very much evident. Even, before the Tribunal the assessee had not filed any evidence to prove that purchases, indeed, were made from the declared source. In such circumstances the disallowance made by the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
