2019 (2) TMI 729

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....ave returned unreasonable and perverse findings on merits. For Assessments Year 2006-07 & 2007-08 reassessment notices were issued to the assessee, on the ground that the latter had made bogus purchases. The assessee manufactured various kinds of automobile parts and electronic parts. The precise complaint was that the two concerns, M/s Om Industrial Corporation (OIC) and M/s Techno Enterprises were shown as sellers of raw material in respect of the substantial quantities. The Revenue alleged that the purchases reflected from these sources were bogus. The Revenue relied upon the survey proceedings under Section 133 as well as the statements made under Section 133A. It further relied upon the statement made allegedly by bogus entry providers....

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....abad / Haryana to Gurgaon, the seller party has to obtain advance D - 3 Vat Form from Faridabad VAT Deptt. This form is to be accompanied with the purchase invoice during transportation of goods from the seller to the buyer. The purchase invoice, D - 3 VAT form and the physical goods transported are inter - sea matched by the Vat Deptt. at the border. The VAT Deptt. after verification, put it's seal on the D - 3 form In this case, for all the 3 parties all such documents have been produced by the appellant. It undoubtedly shows the movement of goods from Haryana to Gurgaon. On receipt of goods, it receipt is entered in the gate entry register by the Security guard on the gate who after physical verification of the goods put a seal on th....

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....nies like Maruti, Mahindra, Tata etc., etc., wherein this item is being used as a motor part. In this case, complete documentary evidences have been filed before the AO wherein no discrepancy has been pointed out. The payment for purchases had been made through cheques. 3. On the basis of the above reasoning, the CIT set aside the final reassessment order which had disallowed the expenditure. The Revenue's appeal before ITAT was unsuccessful. On behalf of the Revenue, it is urged that the findings of the Appellate Commissioner and ITAT cannot be sustained because they did not give any credence to the statements recorded under Section 133A. It is further stated that mere deposit of amounts to D-3 challan, did not signify that the goods we....