If Assessee Denies Transaction, onus shifts to AO to prove allegation with positive evidence

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 &

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