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2021 (6) TMI 267 - AT - Income TaxEstimation of income - bogus purchases - CIT-A restricted addition to 12.5% of the bogus purchase - HELD THAT:- CIT(A) has decided the matter of controversy on the basis of the decision of Bholanath Poly Fab Pvt. Ltd. [2013 (10) TMI 933 - GUJARAT HIGH COURT] & CIT Vs. Simit P. Sheth[2013 (10) TMI 1028 - GUJARAT HIGH COURT] In the instant case, sale is not doubted, therefore, the CIT(A) has restricted the addition to the extent of 12.5% of the bogus purchase we are of the view that CIT(A) has decided the matter of controversy judiciously and correctly which is not liable to be interfere with at this appellate stage. Accordingly, we upheld the finding of the CIT(A) on this issue and decide this issue in favour of the assessee against the revenue.
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