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2017 (9) TMI 426 - ITAT MUMBAIAddition on account of unexplained expenditure - CIT(A) confirmed disallowance of 25% of the alleged bogus purchases -Information received from the Sales Tax Department and also from the office of the DGIT(Inv), Mumbai that assessee is beneficiary of accomodation entries from bogus hawala dealers - Held That:- the facts of the present case indicate that assessee has made purchase from the grey market which gives the assessee savings on account of non-payment of tax and others at the expenses of the exchequer. - a 12.5% disallowance out of the bogus purchases would meet the end of justice - Decision in the case of Simit P. Sheth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] followed - Decided partly in favor of assessee.
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