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TMI Blog2023 (9) TMI 844X X X X Extracts X X X X X X X X Extracts X X X X ..... piece of evidence concerning the production of the ledger account of the sellers which appears in petitioner s books of account. Petitioner placed on record documents to demonstrate that the transactions have been made through a banking channel. For example, in its reply the petitioner attached bank statements demonstrating payment made to the concerned parties. It appears that the petitioner has also placed on record the tax invoices and e-way bills. Despite these documents having been placed by the petitioner/assessee before the AO, the AO concluded that the petitioner had nothing to submit by way of a proper explanation regarding the transactions in issue. If AO had material to demonstrate that the sellers were dubious or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and orders: (i) Notice dated 07.03.2023 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, Act ]. (ii) Order dated 28.03.2023 passed under Section 148A(d) of the Act. (iii) Notice dated 04.07.2023 intimating to the petitioner that the assessment will be completed, in accordance with procedure prescribed under Section 144B of Act. 5. A perusal of the record shows that the allegation against the petitioner/assessee is that it has taken benefit of bogus purchase entries. 5.1 In this regard, the respondent/revenue has referred to four individuals, the details concerning the same are found in paragraph 2 of the order dated 28.03.2023, passed under Section 148A(d) of the Act. 6. The cumulative amou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k statement to substantiate its claim that it was genuine transaction. But it missed the point that, it was never alleged that transactions were done outside banking channel. In fact bogus purchases were made through banking channel and such amount was claimed as expense. Also tax invoices will not prove assessee's case, as information available is that bogus GST refund/ITC claims are being made through such transactions. Moreover these entities did not respond to the summons issued by the office making enquiries or the summons were returned undelivered. 5.1 Further e-way bills submitted by assessee were also perused. In the said bills vehicle number is provided, which allegedly has transported the goods to assessee, after purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n record documents to demonstrate that the transactions have been made through a banking channel. For example, in its reply dated 27.03.2023, the petitioner attached bank statements demonstrating payment made to the concerned parties. 12.2 Furthermore, it appears that the petitioner has also placed on record the tax invoices and e-way bills. 13. Despite these documents having been placed by the petitioner/assessee before the AO, the AO concluded that the petitioner had nothing to submit by way of a proper explanation regarding the transactions in issue. 14. In our view, if AO had material to demonstrate that the sellers were dubious or non-existent, that material/information should have been put to the petitioner. 15. Having ..... X X X X Extracts X X X X X X X X Extracts X X X X
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