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2019 (9) TMI 1073 - AT - Income TaxBogus purchases u/s 69C - addition of 12.5% of such purchases - AO added the entire amount of purchases in assessee’s income - HELD THAT:- CIT(A) had also called a remand report and after considering the remand report, restricted the addition to the extent of 12.5% less the G.P already declared by assessee, after recording a detailed finding which has not been controverted by the ld DR by bringing any positive material on record. CIT(A) upheld additions of 12.5% and also given further credit of G.P. already declared by assessee. The order passed by CIT(A) after considering the remand report is very reasoned order. Accordingly, we do not find any reason to interfere with the order of CIT(A) upholding the addition on account of bogus purchases to the extent of 12.5% less G.P. already declared by the assessee in the last purchase.
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