2025 (1) TMI 1527

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....easons as stated in the condonation petition duly supported with affidavit, the bench considered the delay to be attributable to the reasons which were cogent, bonafide and genuine. Accordingly, the delay for 81 days is condoned and appeal is taken for adjudication. 03. The only issue raised in the various ground of appeal is against the deletion of addition of Rs.2, 45, 59, 316/- by the ld. CIT (A) as made by the ld. AO u/s 68 of the Act in respect of bogus purchases. 04. The facts in brief are that the assessee has filed the return of income, declaring total income at Rs.15, 43, 88, 000/-, which was processed u/s 143(1) of the Act. The case of the assessee was selected for complete scrutiny and accordingly, statutory notices were duly i....

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....entary evidences and made an addition of Rs.2, 45, 59, 316/- thereby adding the entire purchases. 05. In the appellate proceedings, the ld. CIT (A) after taking into account the submissions and the contentions of the assessee allowed the appeal of the assessee by holding that the ld. AO has not considered the documents and information furnished by the assessee regarding identity, genuineness and creditworthiness of the creditors, whereas the assessee had duly discharged its onus cast upon him u/s 68 of the Act. The ld. CIT (A) after considering the submissions of the assessee which is reproduced from page no.4 to 23, observed that the assessee furnished all the information and evidences before the ld. AO and the ld. AO has not carried out ....