Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (9) TMI 1287 - AT - Income TaxEstimation of income - bogus purchases - CIT-A sustaining addition only 12.5% - HELD THAT:- The facts of the present case indicate that assessee has made purchase from the grey market. Making purchases through the grey market gives the assessee savings on account of non-payment of tax and others at the expenses of exchequer - thus 12.5 % disallowance out of the bogus purchases done by the learned CIT(A) meets the end of justice. Accordingly uphold the order of learned CIT(A). Decided against revenue.
|