TaxTMI 
TaxTMI 
2020 (8) TMI 115
X X X X Extracts X X X X
X X X X Extracts X X X X
....n various grounds; addition of Rs. 1,93,066/- on account of bogus purchases and levy of interest u/s.234B and 234C. 2. The facts in brief are that the assessee's case was reopened u/s.148 on the basis of information received from the Investigation Wing, New Delhi, wherein it was mentioned that Maharashtra VAT Department has forwarded the details of non-genuine/bogus bill availed by the assessee during the year. The Investigation Wing had forwarded the copies of statements of concerned bogus billers (Hawala dealers) along with their TIN and PAN details of beneficiaries, wherein the assessee was also found to be one of the beneficiaries mentioned in the information. In the information, it was mentioned that assessee has taken bogus bill of R....
X X X X Extracts X X X X
X X X X Extracts X X X X
....at TIN Number is 27500257887V dated 20.01.2009. However, Assessing Officer observed that as per the information provided by the DGIT (Inv.), Mumbai, M/s. Supreme Enterprises was also having the same TIN 27500257887V. Again, the Assessing Officer asked the assessee as to why the purchase of Rs. 1,93,066/- made from M/s. Supreme Enterprises be not treated as bogus. The assessee submitted and stated as under:- "Please refer to Annexure-III, the assessee firm has no transaction with M/s Supreme Enterprises it appears that the reopening is purely based on information of Investigate Wing. Such a re-opening is bad in law as per the above cited Tribunal Order. We humbly submit that an order of a superior authority (in this case, Tribunal) is to b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n legal issue or on merits. 6. Before us, the ld. counsel for the assessee submitted that assessee is a manufacturer of cycle parts and has maintained regular books of account which is subjected to audit. As per the information received, it was stated that assessee has made purchases from M/s. Supreme Enterprises, whereas no such purchase was made from the said party. In fact, it was made from M/s. Krupa Trading Co and the purchases of Rs. 1,93,066/- has been duly disclosed in the books of account and corresponding sales and gross profit has been accepted, therefore, there was no occasion to treat the purchases of Rs. 1,93,066/- as bogus. In any case and without prejudice, he submitted that, at the best, only profit element on such purchas....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n received from the Investigation Wing which was based on information forwarded by Maharashtra VAT Department that the assessee has availed Hawala entry of bogus bill purchases of Rs. 1,93,066/- in the financial year 2010-11. Based on this information, reopening has been done u/s.148. However, before the authorities below assessee's contention has been that, firstly, assessee has not made any purchases from M/s. Supreme Enterprises albeit it has made purchases from M/s. Krupa Trading Co. for the same tax invoice dated 19.07.2010 for sale of CRCA coil for Rs. 1,93,066/-; secondly, the said purchases have been duly debited in the books of account. The adverse inference has been drawn by the Assessing Officer on the ground that both M/s. Sup....