2026 (7) TMI 422

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....h. Vivek Vardhan (Addl. CIT) - Ld. Sr. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2017-18 arises out of an order of learned Commissioner of Income Tax (Appeals)-3, Gurgaon [CIT(A)] dated 11-11-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 143(3) of the Act on 26-12-2019. The assessee's grievance....

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....he same. The daily cash register revealed that assessee had cash balance as on 01-04- 2016 for Rs. 1,93,850/- whereas the cash balance as on 08-11-2016 was at exorbitantly high figures of Rs. 55,33,377/- despite the fact that cash deposits were made on daily basis out of daily cash sales. Therefore, the cash balance was not accepted by Ld. AO. It was also computed by Ld. AO that the assessee made ....

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....ore, these purchases were doubted by Ld. AO. To confirm the transaction, a notice u/s 133(6) was issued by Ld. AO to the supplier. In the absence of any reply, these purchases were held to be bogus purchases and added to the income of the assessee. The Ld. CIT(A) confirmed both the additions against which the assessee is in further appeal before us. Our findings and Adjudication 4. So far as....

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....ted and therefore, the impugned addition is liable to be deleted. We order so. 5. So far as the purchase from M/s Yamuna Beverages (P) Ltd. is concerned, it could be seen that the assessee has duly filed ledger of the said party, confirmation of the supplier, copies of invoices etc. in support of its claim. The assessee apparently has made purchases of less than Rs. 50 Lacs and therefore, no ob....