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31-10-2019, Deepak Kumar Gupta, Section 148, 147, Tribunal Delhi

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1 week 4 days ago #11281 by amit
Section - 148, 147
Order Date - 31-10.2019
Favouring - Revenue
Court - Tribunal Delhi
Appellant - Deepak Kumar Gupta & Sons (HUF)
Respondent - ITO
Justice - H.S. SIDHU JM
Citation - 1119Taxpundit22
Appeal No. - ITA No. 1236/Del/2018
Asstt. Year - 2009-10



This appeal filed by the assessee against the impugned order dated 19.01.2018 passed by the Ld. CIT(Appeals)-20, New Delhi in relation to assessment year 2009-10 on the following grounds:

1. “Addition of Rs. 17,63,065/- on account of bogus purchases:

The Hon’ble CIT(A) has simply ratified the decision of the Ld. ITO without analyzing the genuine supporting evidence produced by the assessee. The order passed by the Hon’ble CIT(A) is without analysis and is against the complete facts.

Therefore, the addition on account of bogus purchases is prayed to be deleted.

2. The assessee company craves mercy to add/amend any grounds of appeal at the time of hearing.”

2. I have heard the both parties and have perused the orders passed by the Revenue Authorities along with the Paper Book filed by the Ld. Counsel for the assessee in which the assessee has attached various documentary evidences for substantiating the claim of assessee. I have also perused the case law summary filed by the Ld. Counsel for the assessee to support the claim of assessee.

3. Ld. DR also filed written submission. I have also gone through the same.

4. I find that assessee filed its return of income declaring income of Rs. 4,16,170/- on 25.09.2009 which was processed by the Assessing Officer u/s 143(1) of the Income Tax Act, 1961 (hereinafter called the ‘Act’). On 16.07.2010 the case of the assessee was selected for scrutiny u/s 148/147 of the Act after recording the reasons and issuance of notice u/s 148, dated 31.03.2016. Subsequently, notice u/s 142(1) along with detailed questionnaire dated 01.06.2016 was also issued to the assessee in compliance of the same, Authorized Representative of the assessee appeared and filed books of accounts and other necessary evidence before the Assessing Officer which was discussed by the AO and test checked on random basis.

5. The assessee is engaged in manufacturing and trading of gold and silver ornaments, etc. in the name and style of M/s Deepak Kumar Gupta & Sons (HUF). In this case, a report against TEP received in the office of Assessing Officer on 29.03.2016 with some allegations, which the AO has reproduced at page no. 2 of theassessment order and after taking the necessary approval, summons were issued and served upon Shri Deepak Kumar Gupta Prop. of M/s Deepak Kumar Gupta & Sons and Shri Pooran Chand Prop. of M/s Hariram Pooran Chand. In response to the same, AR of the assessee appeared from time to time and filed requisite details along with documentary evidence.

6. The Assessing Officer narrated the facts for taking the action in the case of assessee at page no. 3 as under:

1. “The issue of the instant assessee has emanated as an outcome of the search conducted by the DRI at the premises of M/s Kamud Drugs Pvt. Ltd. at Kolhapur, Mumbai, Ahmadabad, Kupwar & Sangli etc. which is found to be involved in the International Drug trafficking. Sh. Abhijeet Konduskar is the CMD of the M/s Kamud Drugs Pvt. Ltd.

2. The transactions of Mr. Abhijeet Konduskar, regarding the sale of old gold ornaments to Delhi based jewelers viz. M/s hariram Pooran Chand Jewellers & M/s
Deepak Kumr Gupta & Sons during the FY 2008-09 relevant to the AY 2009-10 appears to be unrealistic on the ground that Mr. Abhijeet Konduskar could have sold his old gold ornaments to the nearby places like Pune, Mumbai etc. but instead he had travelled all the way to Delhi on 14 different occasions to sell his old gold ornaments which creates suspicion & doubt regarding the authenticity of the sale purchase of the gold ornaments as discussed. This suspicion gets further

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