Tribunal held that merely because the transactions had been done by account payee cheques that would not suffice when the forensic expert\u2019s report clearly proved that the account was operated in the handwriting of the assessee and all deposits and withdrawals were made in the handwriting of the assessee. Tribunal also held that\u00a0 the assessee chose not to respond and take the opportunity to cross-examine . Tribunal also held that \u00a0the addition was confirmed on account of bogus purchases to the extent of Rs. 173 crores. Any addition out of the sales made out of the purchases would result in double addition. Therefore, there was no merit in the addition of debit entry and it was to be deleted.( AY.2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.68: Cash credits \u2014 Bogus purchases from bogus firm \u2014 Forensic Expert\u2019s report showing that account of firm operated in handwriting of assessee and all deposits and withdrawals made in handwriting of assessee \u2014Not availing of opportunity to cross-examine forensic expert \u2014Addition is held to be justified \u2014 Addition on account of bogus sales out of bogus purchases will result in double addition \u2014 Addition on debit entry to be deleted . [ S.145 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14192","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3GU","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14192"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14192\/revisions"}],"predecessor-version":[{"id":19768,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14192\/revisions\/19768"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}