2017 (10) TMI 1462

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....he appellant has assailed the judgment and order of the tribunal whereby tribunal has partly allowed the appeal preferred by the assessee. 3. This court while admitting the appeals framed following substantial question of law:- Appeals No.189/2015 & 190/2015 admitted on 28.9.2016 "(i) Whether in sustaining the disallowance of 15% of the purchases made from SKS, the finding of the Tribunal is erroneous and perverse in having relied alone on the oral statement recorded during search operation over and above the documentary evidence proving such purchases made after payment through banking channel having paid requisite VAT followed by delivery of goods? (ii) Whether the Tribunal was justified in sustaining the trading a....

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....rder of AO as well as CIT(A) and contended that the view taken by the AO on the basis which CIT(A) has partly allowed the appeal is required to be confirmed. 7. However, the tribunal while considering the matter observed as under:- "3.9 We have heard the rival contentions and peruse the material available on record. First we shall take up the assessee's appeals which raise the sole issue of addition on account of unverifiable purchase. Authorities below have relied on the statements of MD, Accountant and prop. of SKS Shri Jayant Khandelwal. Statement of Shri Khandelwal was neither supplied nor the cross examination was given to the assessee, consequently the statement of Shri Khandelwal may not be held as reliable evidence again....