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2021 (3) TMI 150 - AT - Income TaxEstimation of income - addition of bogus purchases - disallowance restricted @ 5% - HELD THAT:- We are of the considered view that no doubt the purchases made from the suspected parties are not genuine. However, the purchases itself cannot be doubted as rightly adjudicated by Ld. CIT(A) that AO has not doubted sales declared by the assessee, only he suspects the purchases. By respectfully following the decision 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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