ANJALI ARVIND MITHSAGAR,PUNE vs. INCOME-TAX OFFICER, WARD - 3 (4), PUNE

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ITA 1841/PUN/2019Status: DisposedITAT Pune29 October 2020AY 2011-125 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 AO reopened the assessment based on information that the assessee received bogus bills from hawala operators. The AO made an addition of 100% of the purchases, which was confirmed by the CIT(A).

What were the issues?

Whether the addition of 100% of bogus purchases is justified. What is the correct method for calculating the addition on account of bogus purchases.

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 S.P.Walimbe

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)-3, Pune 4. The Pr. CIT-2, Pune ि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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