2022 (7) TMI 630

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....d to as CIT(A)] qua the assessment year 2010-11 on the grounds inter alia that: "1. The Ld. National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as the "Ld. CIT(A)"] erred in passing the order dated 14.09.2021 without providing the Appellant an appropriate opportunity of being heard. Thus, the order passed by Ld. CIT(A) is against the principals of natural justice and the same may be quashed. 2. The Ld. CIT(A) erred in confirming the action of the Ld. A. O. in making the addition of Rs.7,91,289/- treating the same as bogus purchases without appreciating the fact that the purchases were duly accounted in the books of the appellant. Hence, treating the purchases as bogus and thereby making addition of Rs.7,....

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....ng Officer (AO) initiated the proceedings under section 148 of the Income Tax Act, 1961 (for short 'the Act') by way of issuance of notice under section 142(1) read with section 129 of the Act. AO issued notice under section 133(6) to the parties from whom assessee had made alleged purchases. On failure of the assessee to furnish any third party evidence to prove the genuineness of the purchases, the AO proceeded to make the disallowance @ 25% of the alleged purchases of Rs.31,65,157/- which comes to Rs.7,19,289/- and thereby framed the assessment under section 143(3) read with section 147 of the Act at the total income of Rs.32,21,860/-. 3. Assessee carried the matter before the Ld. CIT(A) by way of filing appeal who has confirmed the a....

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....ited as Pr. CIT vs. JK Surface Coatings Pvt. Ltd. in ITA No.1850 of 2017 order dated 28 October, 2021 and the decision rendered by the co-ordinate Bench of the Tribunal cited as M/s. Pavapuri Metals & Tubes vs. Income Tax Officer in ITA No.1148/M/2019 order dated 29.09.2020 and in the case of Ravindranathan Nair vs. Income Tax Officer in ITA No.2662/M/2018 order dated 31.12.2018. 7. In the identical facts and circumstances of the case where though the purchases found to be bogus by the Revenue Authorities but sales by the assessee have been accepted as genuine as against these bogus purchases, we are of the considered view that when sales have been accepted being genuine the entire purchases cannot be treated as non genuine to make addit....