2023 (7) TMI 1514

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t these were genuinely purchased and received at its business premises. AO, on the basis of such evidences, got satisfied and also discussed the issue in the assessment order. AO recorded that the assessee was called upon to produce books of accounts, bills/vouchers of purchases and sales. The same were produced by the assessee and duly verified on test check basis. AO, further recorded that the a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... claim. As manifest that the assessment order cannot be construed as erroneous much less prejudicial to the interest of the Revenue. We, therefore, overturn the impugned order. - Shri R.S. Syal, Vice President And Shri S.S. Viswanethra Ravi, Judicial Member For the Assessee : Shri K.P. Dewani. For the Revenue : Shri Maurya Pratap. ORDER PER R.S. SYAL, VP: This appeal by the assessee is directed .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rial on record, it is seen that undoubtedly the AO initiated reassessment proceedings on the ground that the assessee recorded Hawala purchases from the following parties: Name Amount (in Rs. ) 1. Jai Enterprises 49,12,689/- 2. Pink Lotus Trade India Pvt. Ltd. 39,76,939/- 3. Salibhadra Multi Trade (I) Pvt. Ltd. 39,76,939/- 4. Shreyanjali Multi Trade Pvt. Ltd. 39,76,939/- 5. Classic Enterprises 39, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... urchases to show that these were genuinely purchased and received at its business premises. The AO, on the basis of such evidences, got satisfied and also discussed the issue in the assessment order. In para 3 of his order, the AO recorded that the assessee was called upon to produce books of accounts, bills/vouchers of purchases and sales. The same were produced by the assessee and duly verified .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... who recorded this fact in the assessment order and also the correctness of the assessee s claim. In this backdrop of the facts of the case, it is manifest that the assessment order cannot be construed as erroneous much less prejudicial to the interest of the Revenue. We, therefore, overturn the impugned order. 5. In the result, the appeal is allowed. Order pronounced in the Open Court on 27th Jul .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X