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2017 (10) TMI 1309 - AT - Income TaxAddition of 12.5% in respect of bogus purchase - Held that:- We found that Tribunal have confirmed the addition of 12.5% in respect of bogus purchase after observing that there was failure on the part of the assessee to produce such bogus parties for examination to the AO. CIT(A) in his order has categorically noted that the said three vendors not only appeared before the AO during the remand proceedings but also confirmed that they indeed entered into the transaction with the assessee. This finding of CIT(A) is recorded at page 4 of the CIT(A) order dated 23/04/2014. In view of this finding of CIT(A), the observation made by the Tribunal and confirming the addition of 12.5% of bogus purchase amounts to mistake apparent from record.
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