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2017 (12) TMI 1687 - AT - Income TaxBogus purchases - CIT(A) disallowing the total purchases at 25% thereby giving relief to the assessee in respect of 75% - HELD THAT:- An identical issue was considered by the Hon’ble jurisdictional High Court of Gujarat in the case of N.K. Industries Limited vs. DCIT [2016 (6) TMI 1139 - GUJARAT HIGH COURT] as observed that it would be just and proper to direct the Assessing Officer to restrict the addition in respect of the undisclosed income relating to the purchase to 25% of the total purchases - we decline to interfere with the findings of the CIT(A) in restricting the addition/disallowances to 25% of the bogus purchase. - Decided against revenue
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