2005 (7) TMI 677

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....at Rs. 2,800 each from M/s. Puja Gases Ltd. for a total consideration of Rs. 14,14,000. These gas cylinders were said to have been leased out to M/s. Hotz Industries (P.) Ltd., a sister concern of the Respondent and in its return the Respondent claimed 100 per cent depreciation on these gas cylinders. 3. The Assessing Officer came to the conclusion that M/s. Puja Gases Ltd. was not in existence since the address furnished by the Respondent was a fake address. The statement of one Mr. A.S. Chowdhry, the proprietor of M/s. Puja Gases Ltd. was recorded by the Assessing Officer which, according to him, also established that the entire transaction was a bogus one. The Assessing Officer, therefore, disallowed the claim of the Respondent of dep....

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.... not aware of the business transactions being carried out by M/s. Puja Gases Ltd., which company was being run and managed exclusively by his son. 8. The Tribunal was also of the view that the buyer (the Respondent) is really concerned with receipt of his goods and not so much about the existence of the seller. The Respondent had received the goods for which he had made payment by a cheque which was in fact encashed by M/s. Puja Gases Ltd. Whether this organisation gave a correct address to the Respondent or not or paid its taxes such as sales tax etc. was not strictly the concern of the Respondent. It was noted that as soon as the Respondent was put to notice about the fake address of M/s. Puja Gases Ltd., efforts were made by the Respo....