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Amar Mining Company, Baroda vs The Acit.,Circle-5,, Baroda on 18 May, 2017 cites

C.I.T., Ahmedabad vs Gujarat Ambuja Exports Ltd. on 26 October, 2015

The Ld.AR next relied upon the decision rendered in the case of CIT vs. Gujarat Ambuja Export Ltd. (2014) 43 taxmann.com 244 (Guj.) wherein 25% of the alleged bogus purchases were endorsed by the Hon'ble Gujarat High Court. The Ld.AR accordingly submitted that a fair estimate having regard to the facts and circumstances of the case is at best called for and the entire amount towards bogus purchases is not sustainable in law. The Ld.AR contended that the assessee has effected purchase of certain quantities of rubble from various parties as noted in the order of the CIT(A) and payment to these parties were made by crossed account payee cheque only. The parties could not be located due to long time gap. The Ld.AR thereafter adverted our attention to the averments made by the CIT(A) in para No.4.2 of its order to the effect that there is a case for illegal excavation by the assessee of certain quantity claimed to have been purchased by the assessee.
Supreme Court - Daily Orders Cites 0 - Cited by 5 - S K Singh - Full Document
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