The Commissioner Of Income Tax v. M/S.weldon Spares Corporation

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.109 OF 2008 The Commissioner of Income Tax..Appellant Vs. M/s.Weldon Spares Corporation....Respondent Mrs.S.M.Shah, for the Appellant. CORAM: F.I.REBELLO&K.U.CHANDIWAL, JJ.DATED: 30TH JUNE, 2008 CORAM: F.I. K.U.CHANDIWAL, JJ. DATED: 30TH JUNE, 2008 P.C.: P.C.: . The A.O. has made certain additions on the ground that there were bogus entries. The C.I.T. after considering the record reversed the said finding on the ground that the assessee had been able to show that the items have been purchased and the sale proceeds are accounted for. The learned I.T.A.T. after going through the record and considering the evidence of the assessee observed that the assessee had paid sales tax over the items sold and the copy of the sales tax assessment order dated 16th October, 2000 for the relevant assessment year along with the relevant documents and that the sales have been accepted by the sales tax and income tax authorities as genuine. The learned Tribunal concurred with the finding of C.I.T. Appeals that there cannot be any sales without the previous purchases and noted that the assessee is a 100% supplier to Government concerns. On all the evidence on record the I.T.A.T. held that there is no evidence much less negative evidence to prove that the purchases were bogus. These are two concurrent findings of fact. The question of law as framed would not arise and consequently Appeal dismissed. (K.U.CHANDIWAL, J.) (F.I.REBELLO, J.) (K.U.CHANDIWAL, J.) (F.I.REBELLO, J.) (K.U.CHANDIWAL, J.) (F.I.REBELLO, J.)