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2018 (1) TMI 581 - AT - Income TaxReopening of assessment - addition of 6% of the bogus purchases - Held that:- After making detailed enquiries the AO reached to the conclusion that out of the total purchases 87.5% of the alleged purchases are genuine whereas purchase to the tune of 12.5% was bogus. Accordingly he added only 12.5% of such alleged bogus purchases. After considering various judicial pronouncements the CIT(A) has further restricted the addition to the extent of 6%. The CIT(A) has relied on various judicial pronouncements as well has taken into account the margin earned by the assessee, vat rate of 4%, etc. Thus no infirmity in the order of the CIT(A) in so far as he has considered all aspects and accordingly further reduced the addition to 6%.- Decided against assessee.
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