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2018 (9) TMI 1681 - AT - Income TaxBogus purchases - The case of the Assessing Officer is that on examination of the issue of purchases of jowar; he finds and holds that these purchases amounting to ₹ 10,00,538 are to be disallowed as they are not verifiable and also not debited to the assessee's profit and loss account. Held that:- If, as held by the Assessing Officer that, these purchases are both unverifiable and not debited to the assessee’s profit and loss account, then the same could not be disallowed as no claim for such debit has been claimed by the assessee in the profit and loss account. In this factual view of the matter, as per the peculiar facts and circumstances of the case on hand, we delete the aforesaid disallowance of ₹ 10,00,538 made by the Assessing Officer. - Decided in favour of assessee
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