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2021 (7) TMI 484 - AT - Income TaxEstimation of income - Bogus purchases - CIT-A restricted the disallowance to 12.5% of alleged non genuine purchases - HELD THAT:- CIT (Appeals) has estimated the profit element embedded in the alleged non genuine purchases at 12.5% and accordingly granted partial relief to the assessee in assessment year 2009-10. Whereas, profit element estimated at 12.5% in assessment years 2010-11 and 2011-12 being more than the disallowance made by the assessing officer, he has confirmed the same. Decision of learned Commissioner of Income-tax (Appeals) is in consonance with the view expressed by the Tribunal in similar nature of disputes. No infirmity in the aforesaid decision of learned Commissioner of Income-tax (Appeals).
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