Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (7) TMI 130 - AT - Income TaxDisallowance of 12.5 % of bogus purchase - Held that:- It will not be appropriate to consider and take away the relief already granted by the ld. CIT(A) to the assessee as held in CIT JAIPUR VERSUS M/S SHRUTI GEMS [2017 (5) TMI 1485 - RAJASTHAN HIGH COURT] when sales are not doubted 100% disallowance for bogus purchase is not disallowable. Hence, we confirm the order of ld. CIT(A) in arriving at a disallowance by adopting a Gross Profit ratio of 12.50% on alleged bogus purchases
|