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2020 (4) TMI 223 - ITAT MUMBAIBogus purchases - addition to the extent of 12.5% by AO - CIT(A) directed to restrict the addition to the extent of 6.5% of alleged bogus purchases - HELD THAT:- In case of bogus purchases where sales are accepted, quantitative details of purchases, sales and stock was filed with copy of delivery challans, the addition is required to be made only to the extent of lower GP declared by the assessee on bogus purchases as compared to G.P. on normal purchases. As per the G.P. statement chart placed on record we found that the GROSS PROFIT declared by assessee in respect of alleged bogus purchases was more than the GROSS PROFIT declared in the normal purchases. Under these facts circumstances, applying the judicial pronouncement laid down by Hon’ble Jurisdictional High Court in M/S MOHOMMAD HAJI ADAM & CO. [2019 (2) TMI 1632 - BOMBAY HIGH COURT]we do not find any merits for the addition so upheld by CIT(A).- Decided in favour of assessee
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