2025 (3) TMI 1157

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....-19. 2. Since common issues are involved in the captioned appeals, they were heard together and are disposed off by way of this common order for the sake of convenience and brevity. 3. Ground No. 1 was not pressed and the same is dismissed as not pressed. Other surviving grounds relate to the disallowance of the claim of depreciation and additional depreciation claimed on alleged bogus purchases from M/s. B.N. Trading Company and to the addition on account of VAT incurred on the impugned bogus purchase from BNTC. 4. Representatives were heard at length, case records carefully perused and the relevant documentary evidence brought on record, duly considered in the light of Rule 18(6) of the ITAT Rules, 1963. 5. Briefly stated, the....

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....ssee had made bogus purchases which were recorded in its books of accounts, the Inspector of Investigation Unit, Nashik, was deputed for physical enquiry who submitted the following report:- 6. The AO further made enquiries from the Goods & Services Tax Department, Govt. of Maharashtra which revealed that M/s. B.N. Trading Company is reseller/retailer in commodities, namely, hair clips & hair pins, handloom gamchas, handloom goods clothes. The screenshot of the enquiry is as under:- 7. On the basis of the evidence collected mentioned hereinabove, the AO concluded by holding that M/s. B.N. Trading Company is not in the trading business of copper conductors, PVC cables etc., as claimed from the invoices. As the said purchase is not clai....

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....in the findings of the ld. CIT(A) and dismiss the captioned appeals of the assessee. 11. In the result, all the appeals of the assessee are dismissed. Order pronounced in the Court on 19th March, 2025 at Mumbai. ============= Document 1 18.01.2018 To, The DDIT(Inv.)-I, Nashik. Sir, Sub: - Spot inquiry report in the case of M/s B.N.Traders-reg. *** *** As per the instructions received I had gone for spot verification of M/s B.N.Traders, Shop No 111-115, Dadiseth Agiary Lanc Mumbai-02. On reaching the premises it was noticed that there was a different signboard at the said location. The sign board read " Miracle Cards ". On inquiry with person available at the shop it was learnt that the owner was one Shri Agrawal and the sho....