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2020 (10) TMI 707 - AT - Income TaxEstimation of income - Bogus purchases - disallowance @ 12.5% reduced by CIT-A - HELD THAT:- No doubt the purchases made from the suspected parties are not genuine. Purchases itself cannot be doubted as rightly adjudicated by Ld. CIT(A) that AO has not doubted sales declared by the assessee, only he suspected the purchases. Considering the facts of this case, by respectfully following the decision of Hon’ble Gujarat High Court in the case of CIT vrs. Smith P. Sheth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] we are inclined to agree with the findings of Ld. CIT(A). Therefore, grounds raised by the revenue are dismissed.
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