TaxTMI 
TaxTMI 
2020 (1) TMI 1314
X X X X Extracts X X X X
X X X X Extracts X X X X
.... - Ld. DR ORDER Manoj Kumar Aggarwal (Accountant Member) 1.1 Aforesaid appeals are recalled matter since the appeals were initially disposed-off ex-parte qua the assessee vide common order dated 26/07/2018. However, upon assessee's miscellaneous applications, the said order has been recalled vide MA Nos.343- 345/Mum/2019 common order dated 20/08/2019. Accordingly, the appeals have come up for f....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ip concern namely M/s Citizen Steel Corporation was assessed for year under consideration u/s 143(3) r.w.s. 147 on 27/03/2014 wherein the income of the assessee was determined at Rs. 221.20 Lacs after sole addition of alleged bogus purchases of Rs. 218.12 Lacs as against returned income of Rs. 3.07 Lacs filed by the assessee on 24/09/2008 which was processed u/s 143(1). 2.2 Pursuant to rece....
X X X X Extracts X X X X
X X X X Extracts X X X X
....bills without actually purchasing the material. 2.4 Although the assessee defended the purchases but failed to produce any of the suppliers to confirm the transactions. The field inquiries established that none of the parties was existing at the given addresses. Finally, not satisfied with assessee's submissions / explanations, the stated purchases were disallowed and added back to the income of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rnover achieved by the assessee has not been disputed by the revenue. The books of accounts were subject to audit. However, at the same time, the assessee miserably failed to substantiate the purchases and could not produce any of the suppliers to confirm the transactions and field inquiries indicated that none of the suppliers was existing at the given addresses. Therefore, the onus casted upon a....