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2016 (2) TMI 498 - AT - Income TaxBogus purchases - Held that:- AO has not pointed out any defects in the books of accounts, therefore, the ld. CIT(A) was fully justified in deleting the addition made by the AO on account of alleged bogus purchases particularly when the GP rate declared by the assessee was progressive and was accepted by the AO. The observations made by the assessing officer when analyzed, it can be safely concluded that it is certainly not the case of assessing officer that what is stated by Sh. Surendra Kumar Sharma alone is absolutely correct and consequently, it cannot be used in the case of the assessee till it is established beyond doubt that what is stated by him is true and correct. Whatever findings are recorded in the case of Sh. Surendra Kumar Sharma, it is simply a reflection of his system of working, presentations and conduct which cannot be generalized and imported to the case of the assessee. - Decided in favour of assessee
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