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2023 (6) TMI 1122 - AT - Income TaxEstimation of income - bogus purchase - CIT(A) restricted the disallowance by estimating at 10% - HELD THAT:- As decided in case of Simit Sheth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] held that since the purchases were not bogus, but were made from parties other than those mentioned in books of accounts, only the profit element embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation While arriving at the above conclusion, also relied on the decision in the case of Vijay M. Mistry Construction Ltd [2011 (1) TMI 1164 - GUJARAT HIGH COURT] and further approved the decision of Vijay Proteins [1996 (1) TMI 144 - ITAT AHMEDABAD-C] Also in the case of CIT-II vs Gujarat Ambuja Exports Ltd. [2014 (3) TMI 147 - GUJARAT HIGH COURT] wherein, the addition of 5% of the bogus purchase confirmed by the Tribunal was upheld. No hesitation in confirming the addition to the extent of 10% on account of alleged bogus purchase. Thus the grounds raised by the Revenue is devoid of merit and the same is hereby dismissed
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