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Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI
Before: SHRI R.C. SHARMA
O R D E R PER R.C. SHARMA, ACCOUNTANT MEMBER
This is an appeal filed by the revenue against the order of CIT(A)— 6, Mumbai dated 30/11/2018 for A.Y.2010-11 in the matter of order passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961.
In this appeal revenue is aggrieved for restricting the addition on account of bogus purchases to the extent of 12.5%.
I had gone through the orders of the authorities below and found that addition made on account of bogus purchases was restricted by CIT(A) to the extent of 12.5% after threadbare dealing with the observation and finding of the AO. The CIT(A) has applied the judicial pronouncements as laid down by Gujarat High Court in case of Simit P Sheth 356 ITR 451 and after considering the entire material on records and the facts of the case, restricted the addition to the extent of 12.5%. Nothing was produced before me to persuade me to deviate from the findings recorded by CIT(A) at para 4.3 to 4.3.6. Accordingly, I do not find any reason to interfere in the order of CIT(A).
In the result, appeal of the revenue is dismissed.
Order pronounced in the open court on this 27/01/2020