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2019 (3) TMI 727 - AT - Income TaxBogus purchases - Hawala transactions - addition @ 20% or 15% - proof of genuineness of the transactions by providing identity of the parties, PAN details, return of income as well as other detail - assessee submitted that addition to the extent 20% of bogus purchases should be made in conformity with the previous years - HELD THAT:- We find that various scenarios of bogus purchase issue was adjudicated in series of decisions by the Pune Benches of Tribunal with lead order in M/s. Chhabi Electricals Pvt. Ltd. Vs. DCIT [2017 (6) TMI 514 - ITAT PUNE] as upheld the addition of 10% of the bogus purchases over and above the GP shown by assessee. Thus we direct 10% of the bogus purchases over and above GP percentage shown by the assessee to be added as bogus purchases. Hence, grounds raised by the assessee are partly allowed.
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