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2015 (9) TMI 912 - GUJARAT HIGH COURT

2015 (9) TMI 912 - GUJARAT HIGH COURT - TMI - Additions made on account of bogus purchases - ITAT confirming the order passed by CIT(A) restricting the additions - Held that:- Perused the orders passed by the CIT (Appeals) as the the ITAT and the ratio laid down by the division bench of this Court in case of Vijay Proteins Ltd. V. Commissioner of Income-tax (2015 (1) TMI 828 - GUJARAT HIGH COURT) to held that the assessee would be liable to pay the income tax only to the ratio of 20% of the amou .....

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60A of the Income-tax Act, 1961, the revenue has challenged the order dated 30.01.2004 passed by the Commissioner of Income Tax (Appeals)VII, Ahmedabad (herein after referred to as 'the CIT (Appeals)' for short) in CIT Appeal No. CIT(A)VII/ Wd.3(4)/49/032004 as well as the order dated 30.01.2009 passed by the Income Tax Appellate Tribunal, Ahmedabad, (herein after referred to as 'the ITAT' for short) by which the appeal preferred by the revenue challenging the order of the CIT (A .....

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as liable to pay the tax accordingly. The said decision was challenged by the assessee by filing CIT (Appeals) and contended that the assessee made payment by way of cheques and therefore there is no question of making false entries in the books of account with regard to the purchase. The CIT (Appeals), by relying upon the decision in case of Vijay Proteins Ltd. V. Commissioner of Incometax reported in [2015] 58 taxman.com 44(Gujarat), held that the assessee would be liable to pay the income tax .....

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