ITO,WARD- 3(4), KALYAN vs. SNEHAL RASIKLAL GANDHI, MUMBAI

ITA 6863/MUM/2018Status: DisposedITAT Mumbai17 December 2019AY 2011-124 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, stating that since the assessee's sales were not disputed, the entire purchase amount could not be added back. The Tribunal found the CIT(A)'s approach of restricting the addition to the difference in GP rates to be fair and reasonable.

What were the facts?

The Assessing Officer reopened the assessee's assessment and added Rs. 4,40,054/- for obtaining bogus purchase bills from hawala dealers. The CIT(A) restricted the addition to Rs. 2,58,013/-, based on the difference in GP rates.

What were the issues?

Whether the entire amount of alleged bogus purchases can be added back when the assessee's sales are not disputed. The appropriateness of restricting the addition to the difference in GP rates.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “SMC”, MUMBAI

Before: SHRI VIKAS AWASTHY

For Appellant: Shri D.C.Saboo, AR

For Respondent: Shri R.Bhoopathi, DR, Shri D.C.Saboo, AR

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent 3. आयकर आयु�त(अपील) / The CIT(A), Mumbai 4. आयकर आयु�त / CIT, Mumbai 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, मुंबई / DR, ITAT, Mumbai 6. गाड� फाईल / Guard file

आदेशानुसार/ BY ORDER, स�या�पत ��त //True Copy//

उप/सहायक पंजीकार (Dy./Asst. Registrar) आयकर अपील�य अ�धकरण, मुंबई / ITAT, Mumbai

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