ITA No.647/Mum/2017. Case: Ms. Ashok Industrial Corporation Vs ITO 19(2)(1). ITAT (Income Tax Appellate Tribunal)
| Case Number | ITA No.647/Mum/2017 |
| Counsel | For Appellant: Shri Sashank Dundu and Shri Rahul R.Sarda, Advs. and For Respondents: Shri A.K.Kardam, Advs. |
| Judges | Shri R.C.Sharma, AM |
| Issue | Income tax Act - Section 143 |
| Judgement Date | Friday May 12, 2017 |
| Court | ITAT (Income Tax Appellate Tribunal) |
Order:
Shri R.C.Sharma, AM
This is an appeal filed by the assessee against the order of CIT(A)-30, Mumbai dated 25/11/2016 for the A.Y.2009-10 in the matter of order passed u/s.143(3) r.w.s.147 of the IT Act.
The following grounds have been taken by the assessee:-
The CIT (A) failed to appreciate that all purchases of the Appellant were genuine and duly supported by evidence. Therefore, the addition sustained at the rate of6.5% of purchases is bad in law.
The CIT (A) failed to appreciate that the AO did not carry out any independent enquiry himself and did not point out any defect in the evidence furnished by the Appellant. Therefore, the addition is liable to be deleted.
The CIT (A) failed to appreciate that the AO had not provided the Appellant any material on which he placed reliance in making the impugned addition thereby violating the principles of natural justice. The CIT (A) ought to have provided such material to the Appellant before adjudicating on the impugned addition. Therefore, the addition is not justified.
It was argued by learned AR Mr. Shashank Dundu that merely on the information received from DGIT(Inv.), regarding the Sales Tax Department finding Hawala dealers involved in bogus transactions, AO made an addition of Rs.23,64,585.6/- @12.5% of the total alleged Bogus Purchases amounting to...
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