2017 (5) TMI 901

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.... a. On the facts and in the circumstances of the case, the Learned Commissioner of Income Tax (Appeals) has erred in law in confirming the addition @ 12.50% Rs. 3,20,927/- on the purchases of Rs. 25,67,420/- without appreciating the actual facts of the case. The appellant prays that the addition of Rs. 3,20,927/- be deleted. b. On the facts and in the circumstances of the case, the Learned Commissioner of Income Tax (Appeals) has erred in law, by ignoring the fact that the amount of Rs. 25,67,420/- includes machinery purchased of Rs. 11,47,500/-. The Learned Commissioner of Income Tax (Appeals) has ignored the facts that assessee has purchased machinery of Rs. 11,47,500/-, which is installed in factory and used by assessee....

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....he said dealers/parties. ii. Transport receipt is not provided. iii. The assessee company has stated in its submission that the company is assembling small parts & making products, therefore to maintain quantity details is not possible. iv. The assessee company is not keeping day-to-day stock register for raw materials, finished goods, manufacturing a/c. It is also evident from the Tax Audit Report, the Auditor has mentioned as 'as company has not (item-wide) maintained stock record, it is not possible to give quantitative details'. Hence it is not possible to identify, match & co-relate the corresponding consumption/sales of the items purchased from the said tainted dealers. 3.1 In view of the above, the AO ma....

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.... vs. Shri Rajeev G. Kalathil (ITA No. 6727/Mum/2012) - ITAT 'D' Bench, Mumbai; Shri Ganpatraj A. Sanghavi vs. ACIT (ITA No. 2826/Mum/2013) - ITAT 'G' Bench, Mumbai; Ramesh Kumar & Co. vs. ACIT (ITA No. 2959/Mum/2014) - ITAT 'D' Bench Mumbai; ITO vs. Shri Deepak Popotlal Gala (ITA No. 5920/Mum/2013) - ITAT 'D' Bench, Mumbai; ACIT vs. Shri Ramila Pravin Shah (ITA No. 5246/Mum/2013) - ITAT 'D' Bench, Mumbai; ACIT vs. Tarla S. Shah (ITA No. 5295/Mum/2013) - ITAT 'E' Bench, Mumbai; Shri Hiralal Chunilal Jain vs. ITO (ITA No. 4547/Mum/2014) - ITAT 'H' Bench, Mumbai; M/s. Imperial Imp & Exp vs. ITO (ITA No. 5427/Mum/2015) - ITAT 'I' Bench, Mumbai; ITO vs. Shri Paresh Arvind Gandhi (ITA No. 5706/Mum/2013) - ITAT 'C' Bench, Mumbai; DCIT vs. Shiv San....