THAKUR BUILDCON (P) LTD.,RAJSAMAND vs. ITO, WARD-1, RAJSAMAND

ITA 345/JODH/2019Status: DisposedITAT Jodhpur21 December 2020AY 2009-107 pages
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What did the Tribunal hold?

The Tribunal upheld the validity of the reassessment proceedings. However, it reduced the estimated addition for unverified purchases from 15% to 3% of the alleged bogus purchases, considering the assessee had reflected a GP rate and made payments through banking channels.

What were the facts?

The assessee company was subjected to reassessment proceedings for AY 2009-10 based on information from the VAT department regarding suspicious purchases. The Assessing Officer made peak additions of Rs. 216.77 Lacs on account of alleged bogus purchases.

What were the issues?

The primary issues were the validity of reassessment proceedings and the justification of additions made for alleged bogus purchases.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 148,Section 69

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Heard together (2 matters)

ITA No.345/Jodh/2019
ITA No.346/Jodh/2019

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1

ITA Nos.345-346/Jodh/2019 Thakur Buildcon Private Limited Assessment Year: 2009-10 आयकर अपीलीय अिधकरण "ायपीठ जोधपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH

माननीय "ी संद"प गोसांई, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI SANDEEP GOSAIN, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) आयकरअपील सं./ ITA No.345/Jodh/2019 ("नधा"रणवष" / Assessment Year: 2009-10) Thakur Buildcon (P) Ltd. Income Tax Officer-Ward-1 C/o. Rajendra Jain Advocate Rajsamand बनाम/ 106, Akshay Deep Complex, Rajasthan-313 324. Vs. 5th B Road, Sardarpura Jodhpur, Rajasthan-342 001. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCT-7930-M (अपीलाथ"/Appellant) (""यथ" / Respondent) : & आयकरअपील सं./ ITA No.346/Jodh/2019 ("नधा"रणवष" / Assessment Year: 2009-10) Income Tax Officer-Ward-1 Thakur Buildcon (P) Ltd. बनाम/ Rajsamand Thakurgarh N.H. 8 Rajasthan-313 324. Sevali, Rajsamand Vs. Rajasthan-313 324. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCT-7930-M (अपीलाथ"/Appellant) (""यथ" / Respondent) :

Assessee by : Shri Rajendra Jain (Advocate) & Ms.Raksha Birla (CA)-Ld. ARs. Revenue by : Shri A.S. Yadav - Ld. Sr. DR

सुनवाई क" तार"ख/ : 04

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