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2017 (8) TMI 1124 - AT - Income TaxAddition made u/s. 69C - bogus purchases - Held that:- We are of the considered view that as the assessee before us had miserably failed to substantiate the genuineness of the purchase transactions. We thus in the totality of the facts involved in the case of the present assessee are thus of the considered view that the CIT(A) by restricting the addition to the extent of 5% of the aggregate value of the bogus purchases, had thus taken a liberal view and restricted the addition to the extent of ₹ 10,59,058/- We thus finding no infirmity in the order of the CIT(A), therefore uphold the same.
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