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2017 (9) TMI 1401 - ITAT MUMBAIBogus purchases - quantitative details furnished by the assessee with regard to the purchases and sales - CIT(A) for restricting the addition to the extent of 5% - Held that:- As observed that when the purchases were not made from those parties, the assessee must have purchased from some other parties. Under this situation, adding entire amount of purchase to total income was not correct. After considering all vis-à-vis nature of business the assessee was involved, the CIT(A) concluded that addition to the extent of 5% on such purchase will serve the purpose of justice. The CIT(A) also found that in the immediately subsequent assessment year 2011-12, AO himself added 5% of value on such purchases made from the suspected party to take care of the margin earned by the assessee indulging in such activity. Appeal of the revenue is dismissed
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