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2018 (2) TMI 1876 - GUJARAT HIGH COURTDisallowances of 25% of total unverifiable sundry Creditors - bogus creditors - HELD THAT:- This is a case where the Commissioner of Income Tax (Appeals) and the Tribunal correctly limited the additions to 25% following the judgment of this Court in case of Vijay Proteins Ltd vs Commissioner Of Income Tax reported in [2015 (1) TMI 828 - GUJARAT HIGH COURT] Counsel for the Revenue however submitted that in case of N.K. Industries Ltd. v. Dy. C.I.T. [2016 (6) TMI 1139 - GUJARAT HIGH COURT], this Court had confirmed the addition of the entire amount. This was however a case where the entire purchases were found to be bogus which would have the effect of increasing the profit of the assessee by corresponding figure - Tax Appeal is dismissed.
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