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| The Tax Publishers2020 TaxPub(DT) 1930 (Mum-Trib) INCOME TAX ACT, 1961
Section 69
Since requirement of producing proprietor of purchasing concern was impossible, therefore, CIT(A) rightly directed AO to allow purchases, which were held bogus by AO.
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Income from undisclosed sources - Addition on account of bogus purchases - Assessee face requirement of producing proprietor of purchasing concern -
Revenue challenged order of CIT(A) deleting addition on account of bogus purchases without appreciating that onus was on assessee to establish genuineness of such purchases by providing documentary evidence before AO and assessee, failed to discharge its onus. Held: CIT(A) after considering submissions of assessee concluded that AO allowed purchases from parties in assessment order passed under section 143/147. Moreover requirement of producing proprietor of purchasing concern was impossible, accordingly CIT(A) allowed purchases from said parties.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE ITAT, MUMBAI BENCH
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