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TMI Blog2024 (9) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... Mitra ] Member ( Technical ) And [ Arun Baroka ] Member ( Technical ) For the Appellant : Ms. Kanishk Kejriwal and Ms. Soumya Dutta, Advocates For the Respondent : Mr. Rishav Banerjee, Mr. Patita Paban Bishwal and Ms. Suranjana Chatterjee, Advocates ORDER ( Hybrid Mode ) Heard Learned Counsel for the Appellant as well as Learned Counsel appearing for the Respondent. This appeal has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der. In Para 12.2. of the Assessment order dated 30.12.2022, mentions as under: "12.2. From the above incident reports, it was ample clear that the entities against which incident reports have been generated by the DGGI, Kolkata were in bogus billing and since M/s APL Metals Limited was found reporting purchases from these entities, the same are also bogus." 24. Even for the Financial Year o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an application, we feel it appropriate to impose a penalty by invoking the provisions of Section 65 of the Code, of Rs. One Lakh upon the Applicant herein." Adjudicating Authority has held that no reliance can be placed on the invoices, which has been relied by the Operational Creditor since the Income Tax Authority has found the invoices as bogus. Learned Counsel for the Appellant challenging ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Debtor also. Hence, the submission of the Appellant that reliance of the Assessment order by the Adjudicating Authority was misplaced, cannot be accepted. We have considered submission of Counsel for the parties and perused the record. The Adjudicating Authority has returned categorical finding that the Income Tax Department has found the invoices bogus, hence, the application was rejected, under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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