Itta/606/2013 Of The Commissioner Of Income Tax-Iv v. M/S New Meena Bazar Internationlal (P) Limited

IN THE HIGH COURT OF JUDICATURE, ANDHRAPRADESH AT HYDERABAD THRUSDAY, THE NINETEENTH DAY OFDECEMBERTWO THOUSAND AND THIRTEEN PRESENT THE HON’BLE THE CHIEF JUSTICESRI KALYAN JYOTI SEN GUPTA AND THE HON'BLE SRI JUSTICE SANJAY KUMAR I.T.T.A. No.606 OF 2013 Between: The Commissioner of Income Tax-IV,Hyderabad. ..... Appellant AND M/s. New Meena Bazar International (P) Limited,4-1-873, Plot No. 114, Business Towers,Tilak Road, Abids, Hyderabad .....Respondent The Court made the following : JUDGMENT:(per the Hon’ble the Chief Justice Sri K.J. Sengupta) This appeal is sought to be preferred against thejudgment and order of the learned Tribunal dated11.01.2013 in relation to the assessment year 2007-2008on the following suggested questions of law: 1.Whether on the facts and circumstances of the case, theHon’ble ITAT was justified in confirming the order of theCIT(A) deleting the additions made by the AO on account ofbogus purchases, without appreciating the facts stated inthe relevant assessment order that in the statementsrecorded by the Income Tax Officer at Mumbai, theconcerned parties had accepted that they were issuingaccommodation bills and returning back the cash afterdiscounting their commission.?Hon’ble ITAT was justified in confirming the order of theCIT(A) deleting the additions made by the AO on account ofbogus purchases, without appreciating the facts stated inthe relevant assessment order that in the statementsrecorded by the Income Tax Officer at Mumbai, theconcerned parties had accepted that they were issuingaccommodation bills and returning back the cash afterdiscounting their commission.? 2.Whether in the facts and circumstances of the case, theHon’ble ITAT as the final fact finding authority, was justifiedin upholding the CIT (Appeals)’s order, without appreciatingthat the CIT(Appeals), an authority whose powers are co-terminus with that of AO, had failed to cause necessaryenquiries to be made, before arriving at his findings?Hon’ble ITAT as the final fact finding authority, was justifiedin upholding the CIT (Appeals)’s order, without appreciatingthat the CIT(Appeals), an authority whose powers are co-terminus with that of AO, had failed to cause necessaryenquiries to be made, before arriving at his findings? We have heard Mr. J.V. Prasad, learned counsel forthe appellant and gone through the impugned judgment andorder of the learned Tribunal. Learned Tribunal acceptingthe fact finding of the Commissioner of Income Tax(Appeals) regarding genuineness of the sale transactions.When the transactions are accepted by both the authoritiesbelow, this Court cannot do anything as no element of law isinvolved in this law. Accordingly, we dismiss the appeal. Nocosts. As a sequel to the dismissal of the appeal, all thepending interim applications shall stand closed. ______________________ Kalyan Jyoti Sengupta, CJ. ______________ Sanjay Kumar, J.