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2017 (11) TMI 180 - ITAT MUMBAIBogus purchases - estimating extra G.P. on bogus purchases - Held that:- No opportunity to cross examination was provided by the lower authorities inspite of asking by assessee. As the facts and circumstances in the instant case are parametria to the decision of Tribunal in case of Tristar Jewellery Exports Pvt. Ltd., (2015 (12) TMI 1366 - ITAT MUMBAI ), we do not find any merit for upholding addition of 3% G.P. on such purchases. It is also pertinent to mention here that entire profit of the assessee was eligible for exemption u/s. 10A in respect of unit situated at the SEZ, therefore, assessee was not going to have any gain by showing lower profit.
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