SMT. RAMIBAI HARISH ROHIDA,KOLHAPUR vs. INCOME-TAX OFFICER, WARD - 1 (1), KOLHAPUR

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ITA 1737/PUN/2019Status: DisposedITAT Pune29 October 2020AY 2009-105 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that a 100% addition on account of bogus purchases is not warranted. The addition should be limited to the difference in the gross profit rate between genuine and 'hawala' purchases.

What were the facts?

The assessee made purchases from a 'hawala' dealer amounting to Rs. 2,62,080/-. The Assessing Officer made an addition of 100% of these purchases as bogus, which was confirmed by the CIT(A).

What were the issues?

Whether a 100% addition on account of alleged bogus purchases is justified when the purchases were accounted for and goods were consumed or in stock.

Which sections of the Income-tax Act were involved?

Section 148

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL

For Appellant: Shri M.K. Kulkarni
For Respondent: Shri B.Y. Chavan

आदेश क� क� क� �ितिलिप क� �ितिलिप �ितिलिप अ�ेिषत �ितिलिप अ�ेिषत अ�ेिषत / Copy of the Order is forwarded to : अ�ेिषत आदेश आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / 3. The CIT (Appeals)-1, Kolhapur 4. The Pr. CIT-1, Kolhapur िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे “SMC” / 5. DR ‘SMC’, ITAT, Pune; गाड� फाईल / Guard file. 6. // True copy // आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 29-10-2020 Sr.PS 2. Draft placed before author 29-10-2020 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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