SWAMY HOLAGUNDI,HUVINA HADAGALI vs. INCOME TAX OFFICER, WARD-1 & TPS, HOSPET

In the result, appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year : 2018-19 Swamy Holagundi Prop: Raviteja Traders 7C/10, 3Rd Ward Ito Bangarappanagar Vs. Ward-1 & Tps Karnataka 583 219 Hospet Pan: Dwjps7047P Appellant Respondent Appellant By : Sri V. Srinivasan, Advocate, A.R Respondent By : Sri Subramanian S., Jcit D.R. Date Of Hearing : 08.05.2025 Date Of Pronouncement : 05.08.2025 O R D E R Per Keshav Dubey: This Appeal At The Instance Of The Assessee Is Directed Against The Order Of The Ld. Cit(A)/Nfac Dated 19.07.2024Vide Din & Order No. Itba/Nfac/S/250/2-24-25/1066829871(1) Passed U/S.250 Of The Income Tax Act, 1961 (In Short “The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal: -

section 147 r.w.s. 144B of the Act dated 15.03.2023, the assessee preferred an appeal before the ld. CIT(A)/NFAC. 5. The Ld. CIT(A)/NFAC held that the finding of the AO that the purchases to the tune of Rs.8,07,30,850/- to be bogus