WARYAM STEEL CASTINGS PRIVATE LIMITED,LUDHIANA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA
In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed
ITA 715/CHANDI/2024[2019-20]Status: DisposedITAT Chandigarh14 May 2025AY 2019-20
Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)
For Appellant: Shri Ashwani Kumar, C.A and Ms. Muskan Garg, C.AFor Respondent: Shri Ved Parkash Kalia, Sr. DR
Section 115JSection 148Section 250
xvi) In absence of any direct evidence showing non - genuineness of purchases, addition made on account of bogus purchases by merely relying on statements of third parties recorded under survey proceedings, was not sustainable.
Cannon Industries (P.) Ltd. v. Deputy Commissioner of Income-tax
[2015] 59 taxmann.com 65 (Mumbai - Trib.)
5.6.2. On careful perusal of the impugned order
