Search Results Page

Search Results

1 - 2 of 2 (0.21 seconds)
Documents citing The Ito, Ward-4(1)(2), Ahmedabad vs Sun Automate Controls Pvt. Ltd, ... on 8 December, 2021

Simit P.Sheth L/H Of Late Pankaj ... vs Assessee

In support of this contention he referred to the decision of the Tribunal in the case of ITO Vs. Sun Steel 92 TTJ (Ahd) 1126 wherein the Tribunal has sustained the addition of Rs.50,000/-on account of bogus purchases. However, we find that the facts in the above case were different. In the above case, the assessee has shown purchases of Rs.27,39,410/-, sale of Rs.28,17,207/- and GP at Rs.94,740/-. The Assessing Officer made the addition of Rs.27,39,407/- for bogus purchases. If the above sum is added to the GP, the GP works out Rs.28,34,1247/- which was more than the sale itself. The Tribunal held that6 it is impossible that the GP is more than the sale itself.
Income Tax Appellate Tribunal - Ahmedabad Cites 3 - Cited by 0 - Full Document
1