SNEHALATA AHNAND RANE,MUMBAI vs. INCOME TAX OFFICER-WARD 3(3), KALYAN

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ITA 1785/MUM/2018Status: DisposedITAT Mumbai11 October 2018AY 2009-1056 pages
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What did the Tribunal hold?

The Tribunal held that while the AO had a good starting point to investigate bogus purchases, the investigation was not carried to its logical end. The Tribunal found that there was evidence of goods movement and the FAA's finding that part of the goods formed closing stock was noted. The Tribunal distinguished the present case from a similar case where cash was immediately withdrawn by the supplier.

What were the facts?

The assessee's appeals were against the CIT(A)'s order upholding the Assessing Officer's action under section 147/148 and additions on account of disallowances under section 69C for bogus purchases. The assessee did not appear for the hearing, and the notices were returned unserved.

What were the issues?

The key issues were the validity of reopening the assessment under section 147/148 and whether the additions on account of bogus purchases were justified given the evidence of goods movement and the assessee's GP rates.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 69C,Section 143(3)

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Income Tax Appellate Tribunal, MUMBAI BENCHES “SMC”, MUMBAI

Before: Shri Joginder Singh,

For Respondent: Shri S.K. Bepari-DR
Hearing: 11/10/2018

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. आयकर आयु�त(अपील) / The CIT, Mumbai. 4. आयकर आयु�त / CIT(A)- , Mumbai 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, मुंबई / DR, ITAT, Mumbai 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER,

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