Flexsin Technologies (P) Ltd. v. ITO

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The Tax Publishers2024 TaxPub(DT) 1179 (Del-Trib) IN THE ITAT, DELHI BENCH B.R.R. KUMAR, A.M. & ANUBHAV SHARMA, J.M. Flexsin Technologies (P) Ltd. v. ITO ITA No. 3003/DEL/2015 4 March, 2024 Assessee by: C.S. Anand, C.A. Revenue by: Shyam M. Singh, Sr. D.R. ORDER *B.R.R. Kumar, A.M.* The present appeal has been filed by the assessee against the order of learned Commissioner (Appeals)-I, Noida dated 5-2-2015. 2. Following grounds have been raised by the assessee: 1. On the facts and in the circumstances of the case and in law the Commissioner (Appeals) erred in passing the order without appreciating the submissions of the assessee. 2. The appellant prays that the addition of Rs. 42,90,805 made by the assessing officer on account of bogus purchases be deleted. 3. The assessee is engaged in the business of export of I.T. & I.T. enabled services. The assessee filed return of income on 14-10-2010 declaring income of Rs. 7,91,720. The return was processed under section 143(1) and thereafter the case was selected for scrutiny and statutory notice under section 143(2) dated 27-9-2011 was issued and duly served upon the assessee. During the assessment proceeding, the assessing officer found that the assessee had made huge amount of purchase totaling Rs. 42,90,585 from two parties at the fag end of the financial year as per details given below: SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2024 TaxPub(DT) 1179 (Del-Trib)

IN THE ITAT, DELHI BENCH

B.R.R. KUMAR, A.M. & ANUBHAV SHARMA, J.M.

Flexsin Technologies (P) Ltd. v. ITO

ITA No. 3003/DEL/2015

4 March, 2024

Assessee by: C.S. Anand, C.A.

Revenue by: Shyam M. Singh, Sr. D.R.

ORDER

B.R.R. Kumar, A.M.

The present appeal has been filed by the assessee against the order of learned Commissioner (Appeals)-I, Noida dated 5-2-2015.

2. Following grounds have been raised by the assessee:

1. On the facts and in the circumstances of the case and in law the Commissioner (Appeals) erred in passing the order without appreciating the submissions of the assessee.

2. The appellant prays that the addition of Rs. 42,90,805 made by the assessing officer on account of bogus purchases be deleted.

3. The assessee is engaged in the business of export of I.T. & I.T. enabled services. The assessee filed return of income on 14-10-2010 declaring income of Rs. 7,91,720. The return was processed under section 143(1) and thereafter the case was selected for scrutiny and statutory notice under section 143(2) dated 27-9-2011 was issued and duly served upon the assessee. During the assessment proceeding, the assessing officer found that the assessee had made huge amount of purchase totaling Rs. 42,90,585 from two parties at the fag end of the financial year as per details given below: