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If Assessee Denies Transaction, onus shifts to AO to prove allegation with positive evidence
Case Law Details
- Case Name
- Saksham Industries Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
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Saksham Industries Vs ITO (ITAT Pune)
AO made addition u/sec.40A(3) alleging that assessee had made cash purchases in a day of Rs.3,36,551/- from M/s.M M Pvt. Ltd. Assessee contended that they have not made any purchases during the year from M/s.M M Pvt. Ltd. Assessee had asked AO to provide copy of the information received by AO, on the basis of which notice u/s.148 was issued. Assrssee contended that till date, no such information has been provided and that the AO was not having any information and notice u/sec.148 is bad in law.
CIT(A) confirmed that addition & on further appeal...
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