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2021 (6) TMI 834 - AT - Income TaxRejection of books of accounts u/s 145(3) - GP estimation - bogus purchases - trading addition by disallowing 15% of the alleged unverifiable purchases made from 12 parties - HELD THAT:- CIT(A) has affirmed the rejection of books of accounts on account of non-genuine purchases which could not be verified during the course of assessment proceedings relying on the decision in case of Vimal Singhvi [2014 (12) TMI 66 - RAJASTHAN HIGH COURT]. No infirmity in the said findings of the ld CIT(A) and the same is hereby confirmed. Regarding disallowance of 25% of the alleged purchases, the ld CIT(A) has followed the Coordinate Bench decision in assessee’s own case for A.Y 2008-09 and has restricted the disallowance to 15% of alleged purchases. It is also noted from the assessee’s assessment history, for instance, A.Y 2010-11, where under similar facts and circumstances of the case, disallowance of 15% of unverifiable purchases were made by the CIT(A) which has been affirmed by the Coordinate Bench and similar disallowances have been made in other years - we donot see any infirmity in the findings of the ld CIT(A) in restricting the addition to 15% of unverified purchases. Appeal of the assessee is dismissed.
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