Assessee having provided relevant and necessary evidences to the AO to establish the genuineness of the purchases made by it and the owners of the transport agencies having confirmed the fact that goods were transported by them to the assessee and that the payments for the same were made by the suppliers,\u00a0 addition made by the AO by treating the purchases as bogus by relying on some oral statements recorded behind the back of the assessee is not sustainable; when the genuineness of all purchases is acceptable, addition of profit embedded in such purchases cannot be sustained. Tribunal also held that an addition could not be made on account of sales outside the books on the basis of documents which pertain to an entity other than the assessee and which were not found in the control and possession of the assessee. (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153A: Assessment-Search-Undisclosed income-Purchases cannot be disallowed as bogus by relying on some oral statements recorded behind the back of the assessee-No addition could be made on the basis of such documents which were not found in the control and possession of the assessee-Addition deleted.[S. 69]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61575","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g19","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61575","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=61575"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61575\/revisions"}],"predecessor-version":[{"id":61576,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61575\/revisions\/61576"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}