2026 (2) TMI 640

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.... MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by revenue for Assessment Year (AY) 2018-19 arises out of an order of learned Commissioner of Income Tax (Appeals), NFAC dated 18-06-2024 in the matter of an assessment framed by Ld. AO u/s 143(3) on 21-04-2021. At the time of hearing, none appeared for assessee. The perusal of order sheet entries would establish that none is appeari....

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....documents to Ld. AO which includes PAN / GST details of suppliers, ledger extracts, assessee's GST return, audited financial statements etc. The payments to the suppliers were through banking channels. The assessee also furnished month-wise purchase and sales details - both quantity wise and value wise. The quantitative details of opening and closing stock were also furnished. The copies of freigh....

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....ecting sales, there has to be purchase of goods. The assessee furnished confirmed copy of statement of accounts of the suppliers. However, there were many deficiencies in the supporting documents as pointed out by Ld. AO in the remand report. None of the suppliers produced transportation documents. It was clear that AO was not justified in disallowing entire purchases and at the same time, the ass....