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2017 (10) TMI 1462 - HC - Income TaxBogus purchases - disallowance of 15% of the purchases made from SKS - books of accounts of the appellant were not rejected u/s 145 - HELD THAT:- Looking at the entirety of facts and circumstances i.e. the books of accounts being not rejected & consumption of cotton having comparatively decreased, we are inclined to follow our judgment in the case of Anuj Kumar Varshney [2015 (4) TMI 533 - ITAT JAIPUR] and direct to restrict the disallowance to 15% of purchases from SKS. Thus assessee’s appeals are partly allowed - We are of the opinion that the 15% disallowance restricted by the tribunal is just and proper. No interference is called for. -Decided against assessee.
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