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2017 (5) TMI 1211 - AT - Income TaxBogus purchases - CIT(A) restricted the addition to the extent of 12.5% - Held that:- CIT(A) found that purchases themselves were not bogus but the purchase parties shown in the books were bogus, therefore entire purchases from these six parties cannot be added as bogus. Accordingly, he taxed the profit element embedded in such purchases. By following the order of Gujarat High Court in COMMISSIONER OF INCOME TAX - I Versus BHOLANATH POLY FAB PVT LTD.[2013 (10) TMI 933 - GUJARAT HIGH COURT] the CIT(A) upheld the addition to the extent of 12.5% of such purchases. The detailed finding so recorded by CIT(A) has not been controverted by learned DR by bringing any positive material on record. Accordingly we do not find any reason to interfere in the order of CIT(A) - Decided against revenue
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