TaxTMI 
TaxTMI 
2017 (12) TMI 116
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....lls for travel. In support of his contention that purchased items were re-sold to same parties at a discount of 3%; assessee could not/ did not brought any evidence in the form of confirmation from supplier that they have returned many after 3% discount. No ledger a/c's of these suppliers were also filed. From the credit cards statements, it is seen that total withdrawals and cash deposits amount to Rs. 18,20,260.60 and Rs. 16,43,763.60 respectively. Accordingly, assessee was not able to prove his contention of revolving credits through 4 cards and the scheme of discount @3% , no supporting documents were filed to support his contention. For the sake of clarity, details of purchases and cash deposits are compiled and given as under: S.No. Date Card No. ICICI Transaction Details Invoice No. Amount 1 04-07-08 No.4132894032081000 Krishna Jewellers No.0000000040 34900 2 04-09-08 No. 4132894032081000 Mahesh Gems No. 0000000034 15900 3 24/04/2008 No.4132894032081000 Cash Deposit ....
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..../2008 No.4132894032081001 Reliance Infocomm Jaipur 1033 24 25/8/2008 No.4132894032081001 Service Station Jaipur No.0000005237 210 25 26/08/2008 No.4132894032081001 HPCLSurcharge 10 26 27/08/2008 No.4132894032081001 HPCL Fuel E- voucher Credit 200 27 09-02-08 No.4132894032081001 Service Station Jaipur No.0000005595 210 28 09-03-08 No.4132894032081001 HPCLSurcharge 10 29 09-04-08 No.4132894032081001 HPCL Fuel E- voucher Credit 100 30 09-06-08 No.4132894032081001 Radhika Sarre and Maching No. 0000000010 19800 31 09-07-08 No.4132894032081001 Rishab Textiles No.0000000138 11100 32 16/09/2008 No.4132894032081001 Ashoka Service Station Jaipur No. 0000....
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....nbsp; 30000 62 03-06-09 No.4132894032081001 RK Handicrafts and Art No.0000000395 29800 63 03-08-09 No.4132894032081001 SS Gems Jaipur No.0000000645 3400 64 25/03/2009 No.4132894032081001 Infinity payment received 2500 65 04-04-09 No.4132894032081001 Infinity payment received 43000 66 19/03/2008 No.5177194479420009 1/12 EMI Interest ICICI Lombard Health 85.85 67 19/03/2008 No.5177194479420009 Service Tax 10.6 68 19/03/2008 No.5177194479420009 1/12 EMI Interest ICICI Lombard Health 819.69 69 27/03/2008 No. 5177194479420009 Bharti Hexacom Ltd Jaipur No.0000006537 885 70 04-05-08 No.5177194479420009 Indra Switch No. 0000000162 11712 71 04-07-08 No.5177194479420009 ICVBP Reliance Infocomm Mumbai No. 0000000066 54 72 19/04/2008 No. 517719447....
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....9/09/2008 No.5177194479420009 7/12 EMI Interest ICICI Lombard Health 43.99 95 19/09/2008 No.5177194479420009 7/12 EMI Principal ICICI Lombard health 861.55 96 10-07-08 No. 5177194479420009 ICVBP Reliance Infocomm Mumbai No.0000010099 15000 97 14/10/2008 No.5474670505759007 Service station, Jaipur No. 0000006197 160 98 10-12-08 No.5474670505759007 RK Handicrafts and Art No. 0000000340 21500 99 19/10/2008 No.5177194479420009 8/12 EMI Interest ICICI Lombard Health 36.81 100 19/10/2008 No.5177194479420009 8/12 EMI Principal ICICI Lombard health 868.73 101 11-10-08 No.5177194479420009 ICVBP Reliance Infocomm Mumbai No.0000000066 18 102 19/11/2008 No.5177194479420009 9/12 EMI Interest ICICI Lombard health 29.57 103 19/11/2008 No.5177194479420009 9/12 EMI Principal ICICI Lombard health 875.97 104 12-08-08 ....
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....e Infocomm Jaipur No.74332748107 787 125 18/04/2008 No.4054510045547002 Vishal Retail Ltd. No.74327078110 560 126 05-02-08 No.4054510045547002 KS Gems Jeweliers No. 74477488123 25650 127 05-03-08 No.4054510045547002 JKJ And Sons Jewellers No.74332748125 5200 128 05-11-08 No.4054510045547002 Mahesh Gems No.74477488132 21540 129 05-12-08 No.4054510045547002 ATM Cash Deposit No. JPR-11745 17550 130 13/05/2008 No.4054510045547002 Soni Gems & Jewellers No. 74477488134 10100 131 16/05/2008 No.4054510045547002 Reliance Infocomm Jaipur No. 74332748138 791 132 24/05/2008 No.4054510045547002 Rajkumar Gems & Jewellers No.74477488146 36400 133 14/06/2008 No.4054510045547002 Reliance Infocomm Jaipur No. 74332748167 913 134 24/06/2008 No.4054510045547002 Mahesh Gems No.74477488176 26000 135 30/06/2008 No.40545....
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.... Radhika Sarre and Maching No. 74477488326 8500 155 22/11/2008 No. 4054510045547002 Personal Draft service charges No.4011384814 5850 156 12-02-08 No.4054510045547002 Yadav and Company No. 7245 150 157 20/12/2008 No.4054510045547002 Enhanced Paylite EMI 12 EMI- 1/1 No. 2540772 28226 158 20/12/2008 No.4054510045547002 Sanskar Gems No.74477488356 48500 159 21/12/2008 No. 4054510045547002 Krishna Photos NO. 74477488356 23750 160 20/01/2009 No.4054510045547002 Enhanced Paylite EMI 12 EMI- 2/1 No. 2540772 28659 161 20/01/2009 No.4054510045547002 KK Gems No.74056639021 56300 162 21/01/2009 No.4054510045547002 Laxmi Jewellers No.74477489021 15400 163 19/02/2008 No.4054510045547002 Enhanced Paylite EMI -12 EMI3/1....
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....t items, shoe, payment to tours/travel agents, fuel refilling at HP station, ICICI Lombard Hearth Insurance premium, photo items etc. In the remand report, AO has specifically mentioned that despite giving ample opportunity, assessee did not file any supporting evidence to prove his contention. Nobody is disputing the purchases made through these 4 credit cards but issues regarding re-sale these purchased items at a discount of 3% to the seller on spot are disputed as no confirmation or supporting evidences were produced to prove his contention. It is noted here that purchased items varied from sarees, furniture, jewellery & handicraft items and fuel refill at HP fuel station, personal draft (DD) purchase. Many times, purchases were made from same seller e.g. Laxmi Jeweller, Jain Furniture, KK Gems, Krishna Photo, RK Handicrafts, SS Gems, Radhika Sarees & making centre, Vijay Light House, etc. In absence of any credible evidence, assessee's contention of re-selling products at a discount @ 3% to same vendor cannot be accepted as true. It is pertinent to note that assessee deals in gift items and most of items purchased were jewellery, handicrafts, textile items, etc so is the case ....