TaxTMI 
TaxTMI 
2025 (12) TMI 1170
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....sessment year 2014-15. 2. Brief facts of the case are that the assessee-company is engaged in the business of cold storage and the assessee filed its return of income for the A.Y 2014-15 on 25.09.2014 declaring total loss of Rs. 3,31,35,426/-. The Assessing Officer received information that the assessee has received bogus bills amounting to Rs. 19,92,301/- and Rs. 25,08,661/- totalling to Rs. 45,00,962/- during the F.Y 2013-14 from M/s. NKR Enterprises and M/s. Sourav Enterprises and a survey operation u/s. 133A of the Act was conducted at the premises of Shri Sanjay Dhanuka & Shri Sunil Dhanuka at Kolkata, in connection with Search & Seizure operation of Anjali group. During the course of survey proceedings, a statement was recorded fro....
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.... material for putting up the 3rd chamber and the construction of the third chamber was proved and also accepted by the Assessing Officer, hence there was no justification to make the addition when all the evidences were filed. moreover, the AO has not disproved the said evidences. The ld. AR further submits that the Assessing Officer did not consider the evidences filed by the assessee rather simply relied on the information of the aforesaid two parties who deposed that they issued bogus bills during the course of survey. The ld. AR also submits that the assessee purchased the material from the two parties and the said material was used for construction of 3rd chamber in the cold storage for which permission was taken from the Government. H....
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....nuka wherein he admitted that they were engaged in providing bogus purchase bills and Assessing Officer relying on the above information made the above addition. It is pertinent to note that the assessee constructed third storage chamber using materials which was procured from various suppliers, including purchases of TMT Bars from M/s. Saurav Enterprises worth of Rs. 25,08,001/- and Rs. 10,02,901/- of Cement from Mis. NKR Enterprises and the aforesaid purchases and other related materials used for construction which were duly capitalized in the books of accounts to the extent of Rs. 3,77,76,749/-. We note that the expansion of the third unit of chamber was duly approved by the Director of Agricultural Marketing, Government of West Bengal a....
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.... "However, as regards the payments made to M/s. Selvas Photographics are concerned amounting to Rs.3,12,302/-, we find that those have been made by account payee cheques and those have been encashed through the bankers of M/s. Selvas Photographics. It appears that according to the appellant, at the time of assessment, the appellant had no business transaction with M/s. Selvas Photographics and consequently, the said party did not co-operate with the Assessing Officer. However, the transaction having taken place through account payee cheques, we are unable to accept the contention of Mr. Agarwal, the learned advocate appearing for the Revenue that the transaction was a nonexistent one. If an assessee took care to purchase materials for ....