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2022 (9) TMI 1324 - HC - Income TaxEstimation of income - Bogus purchases - HELD THAT:- Bogus purchases made by the assessee to make addition of the entire purchases u/s 68 as income for the year under consideration. CIT(Appeals) and the Tribunal therefore, considering the possibility of bogus purchases on the basis of documentary evidence produced before the appellate authority have arrived at the concurrent findings of fact by holding that factum of said dealer already being engaged in bogus billing was not ruled out and therefore, sustained the addition by estimating 5% of alleged bogus proceedings i.e. 5% by the assessee for the year under consideration.
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