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2021 (6) TMI 318 - AT - Income TaxEstimation of income - bogus purchases - HELD THAT:- We find that the Sales Turnover was not in doubt and the assessee was in possession of primary purchase documents. The payment to the suppliers was through banking channels. There could be no sale without actual purchase of material keeping in view the assessee's nature of business. The facts of the case made it a fit case to estimate the profit element embedded in these transactions - CIT(A), after due consideration of assessee's submissions as well as material on record, estimated the additions @25% which is more than enough to take care of the leakage of revenue. Therefore, the estimation could not be termed as unjustified, in any manner.- Appeal stands dismissed.
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