{"id":8114,"date":"2019-11-11T05:58:11","date_gmt":"2019-11-11T05:58:11","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-odeon-builders-pvt-ltd-scwww-itatonline-org\/"},"modified":"2019-12-24T05:43:02","modified_gmt":"2019-12-24T05:43:02","slug":"cit-v-odeon-builders-pvt-ltd-scwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-odeon-builders-pvt-ltd-scwww-itatonline-org\/","title":{"rendered":"CIT v. Odeon Builders Pvt.Ltd ( 2019) 418 ITR 315\/ 311 CTR 258\/ 183 DTR 25\/ 266 Taxman 463.(SC),www.itatonline.org"},"content":{"rendered":"<p><strong>Dismissing the review petition on merits the Court held that \u00a0disallowance cannot be made solely on third party information without subjecting it to further scrutiny. The assessee has prima facie discharged the initial burden of substantiating the purchases through various documentation including purchase bills, transportation bills, confirmed copy of accounts and the fact of payment through cheques, &amp; VAT Registration of the sellers &amp; their income -tax return. The AO has also not provided a copy of the statements to the assessee, thus denying it opportunity of cross examination. Review petition of revenue is dismissed \u00a0<\/strong>(RP No 22394 of 2019 in CA Nos . 9604-9605 of \u00a02018,dt. 21.08.2019)<\/p>\n<p>(SLP rejected\u00a0 \u00a0CIT v. Odeon Builders Pvt.Ltd ( 2018) 404 ITR 1 (St)\u00a0 . CIT v. Odeon Builders Pvt.Ltd ( 2019) 418 ITR 316 (HC) \u00a0( AY. 2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69 :Unexplained investments &#8211;  Review -Tax effect less than Rs .1 crore-Bogus purchases- Assessemnt &#8211; 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, &#038; VAT Registration of the sellers &#038; their income -tax return.  [ S.68, 143(3), 161, 268A  ]<\/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":[1],"tags":[],"class_list":["post-8114","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-26S","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8114","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=8114"}],"version-history":[{"count":6,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8114\/revisions"}],"predecessor-version":[{"id":8796,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8114\/revisions\/8796"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}