ITO WARD- 3 (4), )KALYAN vs. SUNIL Y. BHIWANDIKAR, MUMBAI

ITA 6862/MUM/2018Status: DisposedITAT Mumbai16 December 2019AY 2009-104 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 order of the CIT(A) which sustained an addition of 25% of the alleged bogus purchases. The Tribunal reasoned that since the sales were not disputed, the entire purchase amount could not be added back, implying purchases were made from the grey market and bills were obtained from hawala operators.

What were the facts?

The Assessing Officer (AO) re-opened the assessment of the assessee, engaged in manufacturing, based on information from the Sales Tax Department. The AO held that the assessee obtained bogus purchase bills from hawala dealers and made an addition of the entire purchase amount.

What were the issues?

Whether the entire amount of alleged bogus purchases can be added back to the income when sales are not disputed. The fairness of sustaining an addition of 25% of the alleged bogus purchases.

AI-generated summary — verify with the full judgment below

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

Before: SHRI VIKAS AWASTHY

For Respondent: Shri R.Bhoopathi, DR

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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