2022 (9) TMI 236

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....eal, out of which Grounds No. 2 & 3 are general ground, which do not call for recording off any finding. 3. In Ground No. 1, the assessee has submitted that the ld. CIT(Appeals) has erred in confirming the addition of Rs.26,74,050/-. In response to the notices of hearing, no one has come present on behalf of the assesese. A perusal of record would suggest that this appeal is on the Board since 23.11.2020. Time to time, notices were issued to the assessee through Registered Post and on the record copies of which are available alongwith the RPAD and every time remark of the Postal Authority is : "No such party is available in the address- LEFT". No other address has been communicated by the assessee to the Tribunal and, therefore, we....

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....d the assessee to file a confirmation and thereafter the ld. Assessing officer has carried out an exercise and held that these are the bogus purchases claimed by the assessee in the accounts. The finding of the ld. Assessing Officer reads as under:- "4. It is seen that the assessee's Firm purchased goods from various parties. Accordingly notices u/s 133(6) was issued to the parties for confirmation. One of the parties to whom notices were issued, M/s, Vijaypath Vincom Pvt. Ltd could not be traced out. The amount of purchase was Rs. 26,74,050/-. At the time of issue of Notice, the address of M/s, Vijaypath Vincom Pvt. Ltd shown as 3A, Pollock Street, Ground Floor, Kolkata-700 001. The assessee Firm In their letter dtd. 18.03.201....

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.... are said to have been made and whose whereabouts are not known, basically a question of fact is that whether transactions with the parties referred as above is genuine or not. If the transaction is genuine and if the parties have shifted somewhere else, their latest address should have been supplied and burden is on the assessee to prove the genuineness of transaction, when the assessee claimed that the purchases are genuine. As per discussion of above the bogus purchase amounting to Rs.2674Q50/- is added back to the total income of the Assessee Firm". Apart from the above, the ld. Assessing Officer has made an addition of Rs.15,08,049/- on account of disallowance of interest expenditure. 7. On appeal, the ld. CIT(Appeals) has confir....