Revision u/s 263 - estimation of income on bogus purchases - ...

Dispute Over Bogus Purchases: Pr. CIT Challenges AO's 1.6% Income Addition u/s 263, Suggests Higher Rate.

July 30, 2021

Case Laws Income Tax AT

Revision u/s 263 - estimation of income on bogus purchases - Keeping in view the applicable VAT rate, Ld. AO estimated a further addition of 1.6% against these purchases. - Merely because Ld. Pr. CIT held a view that the estimation should have been at higher rates or entire purchase should have been disallowed, the same would not make the order erroneous - AT

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Revision u/s 263 - estimation of income on bogus purchases - ...

Dispute Over Bogus Purchases: Pr. CIT Challenges AO's 1.6% Income Addition u/s 263, Suggests Higher Rate.

July 30, 2021

Case Laws Income Tax AT

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