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2023 (8) TMI 1064 - AT - Income TaxAdditions u/s 69C - bogus purchases - information received by AO from the sales-tax department - HELD THAT:- As in the present case, corresponding sales made by the assessee out of the disputed purchases have not been doubted by the Revenue. Thus, in the absence of purchases, the assessee could not have affected corresponding sales. Therefore, respectfully following the judicial precedent in the assessee’s own case [2017 (4) TMI 1622 - ITAT MUMBAI] we direct the AO to restrict the addition to 2.5% of the bogus purchases. Accordingly, grounds raised in the assessee’s appeal are partly allowed.
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