ACIT, NEW DELHI vs. M/S. KARAM CHAND RUBBER INDUSTRIES (P) LTD., NEW DELHI
In the result, the appeal filed by the Revenue is dismissed
ITA 6599/DEL/2014[2011-12]Status: DisposedITAT Delhi12 Dec 2018AY 2011-12
Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2011-12 Acit, Vs. Karam Chand Rubber Industries Central Circle-7, (P) Ltd., New Delhi. R/O D-1039, New Friends Colony, New Delhi. Pan: Aaack4889J (Appellant) (Respondent) Assessee By : Shri P.C. Yadav, Advocate Revenue By : Shri Vijay Verma, Cit, Dr Date Of Hearing : 04.10.2018 Date Of Pronouncement : 12.12.2018 Order Per R.K. Panda, Am: This Appeal By The Revenue Is Directed Against The Order Dated 30Th September, 2014 Of The Cit(A)-31, New Delhi Relating To Assessment Year 2011-12. 2. The Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Manufacturing Of Cycle/Rickshaw Rims. A Search U/S 132 Of The It Act Was Carried Out At M/S Dhirani Group Of Cases On 28Th July, 2011 During Which The Business Premises Of The Assessee Was Also Covered. In Response To Notice U/S 153A Of The It Act Dated 21St May, 2012, The Assessee Filed Its Return Of Income On 13Th June, 2012
For Appellant: Shri P.C. Yadav, AdvocateFor Respondent: Shri Vijay Verma, CIT, DR
Section 131Section 132Section 142(1)Section 153ASection 40A(2)(b)
…ly, submitted that merely because the payments have been made through banking channel the same does not establish the genuineness of purchases. 12. Referring to the decision of the Hon'ble Supreme Court in the case of N.K. Proteins Ltd. vs. DCIT, reported in 83 TTJ 904 (Ahmedabad) he submitted that the SLP filed by the assessee was dismissed and the decision of the Hon'ble Gujarat High Court was confirmed and the entire undisclosed income generated out of bogus transaction was added to the total income. He also relied on the decision of the Ahmedabad Bench of the Tribunal in the case of Vijay Proteins Ltd. vs.…
