2021 (4) TMI 235

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....by the assessee against the order dated 28.05.2019 of learned Commissioner of Income Tax (Appeals)-30, Mumbai for the assessment year 2010-11. 2. The dispute in the present appeal is confined to the addition/disallowance made on account of non genuine purchases. 3. Briefly the facts are, the assessee an individual is stated to be engaged in the business of trading in ferrous and non-ferrous ....

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....dation bills. Therefore, he called upon the assessee to prove the genuineness of the purchases. In response to the query raised by the Assessing Officer, though, the assessee furnished some documentary evidences such as copies of ledger accounts, purchase invoices, bank statement, documentary evidence, payment made through cheque to the selling dealers, sale invoices etc, however, the Assessing Of....

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....nhancement and submitted that no addition/disallowance should be made on account of non genuine purchases, however, learned Commissioner (Appeals) rejecting the submissions of the assessee proceeded to enhance the income of the assessee by disallowing the entire purchases of Rs. 1,05,57,140/-. 4. The learned counsel for the assessee submitted, while deciding identical issue in assessee's own ca....

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....esis of the present disallowance is the information received from sales tax department indicating that certain entities from whom assessee claimed to have purchased goods have been identified as accommodation entry providers. However, the Assessing Officer has acknowledged the fact that the assessee has effected the corresponding sales and has also offered to tax the profit on such sales. In such ....