2016 (6) TMI 1032

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....its trading account shown purchase of Rs. 1,12,81,262/- whereas sale was shown at Rs. 1,18,82,877/-. The assessing officer was of the opinion that the assessee had failed to prove the purchases to the extent of Rs. 9,23,142/-. He, therefore, added the aforesaid sum to the income of the assessee and in an appeal filed by the assessee, the CIT deleted the addition. In a further appeal filed by the revenue, the learned Tribunal by its order dated 10th May, 2006 restored the matter to the file of the assessing officer giving one more opportunity to the assessee to prove purchases worth Rs. 9,23,142/- from JKDPL. In spite of opportunity being granted, the assessee was unable to adduce satisfactory evidence as regards the aforesaid purchases fro....

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....f primary evidence after totally ignoring all the secondary evidence namely books of accounts, cash book, purchase ledger, profit and loss account and balance sheet etc. of the assessee firm produced by the appellant before the Tribunal in support of its claim when all the items of medicines deals with by the Appellant are M.R.P. (Maximum Retail Price) based products ? (ii) Whether on the facts and circumstances of the case the Tribunal is justified in law in accepting the amount of total sale at Rs. 1,18,82,877/- as disclosed by the Appellant in his books of account but at the same time confirmed the rejection of purchase amounting to Rs. 8,70,641/- as bogus purchase out of the total purchase price at Rs. 1,12,81,262/- as disclosed by t....