ANANT HALWAI P.LTD,THANE vs. ITO WD 1(1), MUMBAI

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ITA 1192/MUM/2016Status: DisposedITAT Mumbai12 September 2018AY 2009-103 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found that the purchases were supported by invoices, ledger accounts, and mostly paid through banking channels. While upholding the AO's action of disallowance, the Tribunal directed to restrict the disallowance to 15% of the alleged bogus purchases.

What were the facts?

The assessee, engaged in the business of sweets and milk products, had its assessment reopened based on information about bogus purchases. The Assessing Officer (AO) disallowed purchases of packing materials amounting to Rs. 3,03,713/-.

What were the issues?

The primary issues were the validity of reopening the assessment and the disallowance of purchases claimed as non-genuine.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A”, BENCH MUMBAI

Before: SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM

For Appellant: Shri Subodh Ratnaparkhi
For Respondent: Shri Chaitanya Anjaria
Hearing: 05/09/2018Pronounced: 12/09/2018

IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM (Assessment Year :2009-10) M/s. Anant Halwai Pvt. Ltd., Vs. ITO, Ward – 1(1) Matru Smruti, Kasarhat Bazarpeth, Kalyan 1st Floor, Mohan Plaza, Mahavir Prabhu Chowk, Kalyan (W) Wayale Nagar, Khadak Dist: Thane – 421301 Pada, Kalyan (W) – 421 301 PAN/GIR No.AADCA3392B Appellant) .. Respondent) Assessee by Shri Subodh Ratnaparkhi Revenue by Shri Chaitanya Anjaria Date of Hearing 05/09/2018 Date of Pronouncement 12/09/2018 आदेश / O R D E R PER R.C.SHARMA (A.M):

This is an appeal filed by the assessee against the order of CIT(A)- 2, Thane dated 15/01/2016 for A.Y.2009-10 in the matter of order passed u/s.143(3) r.w.s. 147 of the IT Act. 2. In this appeal, assessee is aggrieved for reopening of assessment as well as addition of Rs.3,03,713/- made on account of alleged non- genuine purchases of packing materials debited to the profit and loss account. 3. Rival contentions have been heard and record perused.

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