TaxTMI 
TaxTMI 
2017 (10) TMI 1451
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....e order dated 29.3.2017 passed by the learned CIT(A)-50, Mumbai and it relates to A.Y. 2007-08. The assessee is aggrieved by the decision of the learned CIT(A) in enhancing the addition of bogus purchases to 100%. 2. I heard the parties and perused the record. The assessee is engaged in the business of trading in steel. The Revenue carried out survey operation u/s. 133A of the Act and it was not....
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....T(A) also noticed that the assessee has furnished copy of only two purchase invoices. The learned CIT(A) noticed that the quantity details given in tax audit report did not contain details relating to "MS pipe", which item was purchased from M/s. Siddhivinayak Steel. Even though the assessee submitted that the details relating to MS pipe have been included under the heading ""Seamless Pipes", the ....
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....the assessee could not furnish copies of other invoices. He submitted that the Tax audit report contains quantity details, which has been collated from stock register. Hence non-production of stock register should not have been considered by Ld CIT(A) as an issue to take adverse decision. On the contrary, the Ld D.R supported the order passed by Ld CIT(A). 5. Having heard rival submissions, I am....