2012 (2) TMI 69

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... IRS, Commissioner of Income-tax   O R D E R   PER Dr.O.K.NARAYANAN, VICE-PRESIDENT:   This appeal is filed by the assessee. The relevant assessment year is 2004-05. The appeal is directed against the order of the Commissioner of Income-tax (Appeals)-V at Chennai dated 21.01.2010. The appeal arises out of the assessment completed under sec. 143(3) of the Income-tax Act, 196....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....an and purchases worth Rs. 3,73,129/- were made from one Mr. Kumaresan. The assessing authority has accepted both the above purchases as genuine. The assessee has made purchases worth Rs. 24,69,070/- from sundry parties which were disallowed by the assessing authority as bogus. The main reason for disallowance is that the majority of the invoices were selfmade vouchers. Many of the vehicles which ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... accepted by the assessing authority. If the entire purchase made from the sundry parties has to be disallowed, as done by the assessing authority, the quantum of purchase of firewood available with the assessee would be quite insufficient to meet its operational requirements. Secondly, in the matter of purchase of firewood etc., there is every chance for making local purchase off and on, for whic....