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2017 (7) TMI 1265 - AT - Income TaxBogus purchases - Held that:- There is no evidence of the actual movement of the goods under dispute. In these circumstances learned Departmental Representative has referred to decision in the case of of N K Industries vs Dy CIT [2016 (6) TMI 1139 - GUJARAT HIGH COURT] wherein 100% of the bogus purchases will held to be added in the hands of the assessee and tribunals restriction of the addition to 25% of the bogus purchases was set aside. The Special Leave Petition against this order along with others has been dismissed by the Hon’ble Apex Court. Despite the above precedence, find that this is not an appeal by the Revenue and assessee cannot be denied the benefit already granted by the learned CIT(A). Hence uphold the order of the learned CIT(A).
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