S. 69 :Unexplained investments – Review -Tax effect less than Rs .1 crore-Bogus purchases- Assessemnt – Addition cannot be made without providing a copy of the statements and opportunity of cross examination- Initial burden is discharged by the assessee by producing various documentation including purchase bills, transportation bills, confirmed copy of accounts and the fact of payment through cheques, & VAT Registration of the sellers & their income -tax return. [ S.68, 143(3), 161, 268A ]
CIT v. Odeon Builders Pvt.Ltd ( 2019) 418 ITR 315/ 311 CTR 258/ 183 DTR 25/ 266 Taxman 463.(SC),www.itatonline.org