2025 (9) TMI 1622

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nder:- ITA No. 1547/Ahd/2024 A.Y. 2018-19 "(i) Whether on the facts and in the circumstances of the case, the Ld Commissioner of Income-tax (Appeals) has erred in deleting the addition of Rs 58,50,000/- made u/s 69C of the IT Act, 1961. (ii) Whether on the facts and in the circumstances of the case, the Ld. Commissioner of Income-tax (Appeals) has erred in ignoring the information received from the GST department that M/s Bright Corporation does not have any genuine business activity and is merely passing on fraudulent Input Tax Credit while deleting the addition made by A.O.? (iii) The appellant craves leaves to add, modify, amend or alter any grounds of appeal at the time of, or before, the hearing of appeal.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ome tax Act with prior approval of the concerned authority. Notice u/s. 148 dated 31- 03-2022 was issued to the assessee which was duly served. In response to the notice u/s. 148, the assessee filed invalid return of income on 27-04-2022 as mentioned by the Assessing Officer in assessment order. Thereafter, the Assessing Officer noted that in absence of valid return u/s. 148, notices u/s. 143(2) could not be issued and therefore the notices u/s. 142(1) of the income Tax Act, 1961 was issued to the assessee. The assessee has not responded show cause notice u/s. 144 dated 21-12- 2022 but has replied show cause notice dated 28-01-2023 vide response dated 25-01-2023 and 27-01-2023. After taking into account the reply, the Assessing Officer obse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The Assessing Officer has not at all taken into account these evidences and simply observed that the assessee has not explained the expenditure of purchases. The ld. A.R. further submitted that the Assessing Officer accepted that the actual supply took place but has only on the presumption basis held that the assessee involved in fraudulent transfer of credit without further investigating the same and totally ignored the delivery challan on purchase made from Bright Corporation during financial year 2017-18. The ld. A.R. submitted that the assessee has also given the details regarding entry and exit vehicles relating to purchases made from Bright Corporation relevant lorry receipts and log book of warehouses. Thus, the ld. A.R. submitted th....