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2021 (3) TMI 314 - AT - Income TaxEstimation of income - Bogus purchases - disallowance @ 12.5% restricted by CIT-A - HELD THAT:- We find that the Ld. CIT(A) considered this aspect of the matter elaborately with reference to the submissions of the assessee and the averments in the Assessment Order and following in the case of CIT v. Simit P. Sheth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] restricted the disallowance to 12.5% of the non-genuine purchases. No infirmity in the order passed by the Ld. CIT(A) in restricting the addition/disallowance to the extent of 12.5% of the purchases. - Decided in favour of assessee.
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