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2024 (5) TMI 811 - ITAT MUMBAIEstimation of profit - Validity of order of CIT(A) in reducing the gross profit @ 7.89% as against the 100% addition made by the AO - Bogus purchases - non genuine parties to cover-up the purchases from grey market - addition u/s 69C - CIT(A), has erred in reducing gross profit @ 7.89% as against the 100% addition made by the AO - HELD THAT:- As in assessee's own case for assessment year 2007 – 08. [2019 (6) TMI 1722 - ITAT MUMBAI] and thereafter, determined that only the balance profit which was disclosed by the assessee in genuine trade and non genuine trade could be added to the total income of the assessee. The coordinate Bench in the appellate order found that gross profit of non genuine purchases 7.64% whereas the gross profit of the assessee from other purchases is 7.89%, and therefore, the difference of 0.25% was added to the total income of the assessee. Therefore, the issue has been decided on the merits of the case in the appeal of the assessee arising out of the same appellate order. Appeal filed by the AO is dismissed.
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