M/S MIDWEST GRANITES PRIVATE LIMITED,HYDERABAD vs. ACIT,CENTRAL CIRCLE - 7, HYDERABAD
In the result, all the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are dismissed
ITA 616/HYD/2014[2003-04]Status: DisposedITAT Hyderabad24 Feb 2020AY 2003-04
Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony
For Appellant: Sri Murali Mohan RaoFor Respondent: Smt. Nivedita Biswas, DR
Section 132Section 143(3)Section 153ASection 234ASection 250(6)Section 37(1)
10B are not available which creates a doubt that the assessee has been claiming bogus expenditure in order to avoid tax liability.
(v)
Filing of return of income by including such bogus receipts and paying tax thereon alone cannot establish the genuineness of the transaction.
21. Having observed so, the Ld. CIT (A) further opined that activities such as cutting
