9911796707
TMI Blog2019 (10) TMI 1561X X X X Extracts X X X X X X X X Extracts X X X X ..... failed to place on record any relevant material/evidence to controvert the well reasoned findings of the revenue authorities. Hence, no infirmity in the findings of the revenue authorities and upheld the finding of the Ld. CIT(A) on the issue in dispute in sustaining the addition - Decided against assessee. - ITA No. 6583/DEL/2018 - - - Dated:- 23-10-2019 - SHRI H.S. SIDHU, JUDICIAL MEMBER For the Assessee : Sh. M.R. Sahu, A.R. For the Department : MS. Ekta Vishnoi, Sr. DR. ORDER This appeal filed by the Assessee is directed against the Order dated 23.08.2018 of the Ld. CIT(A)-7, New Delhi pertaining to assessment year 2010-11 on the following grounds:- l. That on the facts, and in the circumstances of the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here source of expenditure is not explained and not in respect of authenticity of such expenditure. c. That on the facts and in the circumstances of the case and in law, the appellant submits that the Ld.CIT{A} and the Ld.AO ought to have taken congnizance of the facts that source of such expenditure is duly reflected in the books of accounts and accordingly there is no case of unaccounted expenditure envisaged under section 69C. d. That on the facts and in the circumstances of the case and in law, the appellant submits that the Ld.CIT{A} and the Ld.AO have erred in facts and in law by ignoring various documentary evidences provided by the appellant in support of the genuineness of the said purchases. e. That on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prior jurisdictional conditions; 2. To hold Ld. AO wrongly made addition of Rs. 30,00,000/- under section 69C on merits; 3. Any other relief as deemed fit in circumstances of the case. That the above grounds are independent and without prejudice to each other. The Assessee craves the right to amend, add, delete, replace, all or any of the grounds of appeal either during the course of hearing or at any time before hearing of this appeal. 2. At the time of hearing, Ld. Counsel for the assessee has also filed additional ground of appeal with the Application dated 26.09.2019, contention of the same are reproduced as under:- Dated 26th Sept 2019 To Hon'ble Member Income Tax Appellate Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment year 2010-11 declaring income of Rs. 10,78,300/-. Subsequently, information was received from the office of the ADIT (Inv.-1), Faridabad vide letter dated 17.3.2017 stating therein that the assessee had obtained bogus purchases entries of Rs. 30,00,000/- from the Concern M/s Global Trade Corporation. The case of the assessee was reopened u/s. 147 of the Income Tax Act, 1961 (in short Act ) and notice u/s. 148 of the Act was issued on 31.3.2017 to the assessee. The AO completed the assessment u/s. 147/143(3) of the Act on 23.12.2017 and assessed the income at Rs. 40,78,300/- after addition of Rs. 30,00,000/- on account of unexplained investment. Aggrieved with the assessment order dated 23.12.2017, assessee appealed before the Ld. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 15 of the impugned order dated 23.08.2018, the Ld. CIT(A) has held that the party from whom the purchases were made by the assessee, were found to be bogus and that is the reason for which it was not produced during the assessment proceedings. During the course of assessment proceedings as well as appellate proceedings, the assessee could not produce the purchasers before the AO as well as Ld. CIT(A). Ld. Counsel for the assessee was further asked about the ground no. (f) raised by the assessee in the original ground of appeal that why the assessee has not filed the confirmations received on notices issued u/s. 133(6) of the Act and to the supplier and could not produce before the AO. In reply to this query, Ld. Counsel for the assessee co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry to evade the tax. Therefore, in my view, the AO as well as Ld. CIT(A) have rightly held that party from whom the purchases were made by the assessee, were found to be bogus and that is the reason for which it was not produced during the assessment proceedings. Not having doubted the consumption / sales, the motive behind obtaining bogus bills thus, appears to be inflation of purchase price so as to suppress true profits. Keeping in view of the facts and circumstances of the case and the arguments advanced by both the parties, I am of the considered view that Assessee has failed to place on record any relevant material/evidence to controvert the well reasoned findings of the revenue authorities. Hence, I do not find any infirmity in the f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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