INCOME TAX OFFICER, WARD-5(1)(2), NOIDA, NOIDA vs. BHAVYA PIPE INDUSTRY, GREATER NOIDA

In the result, the appeal of the Revenue and Cross Objection of the assessee are dismissed

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwalincome Tax Officer, Bhavya Pipe Industry Ward-5(1)(2), Plot No. F-39, Site- C, Noida. Vs. Upsidc, Industrial Area, Surajpur ,Gautam Buddha Nagar, Gr. Noida-201306 Uttar Pradesh. Pan-Aatfb2209D (Appellant) (Respondent)

bogus purchases and restricted the addition to a mere 5.66% which was the gross profit of the assessee. The findings of the Hon'ble Gujarat High Court as upheld by the Hon'ble Supreme Court are as under- 2. "8. So far as the question regarding addition of Rs. 3,70,78,125/- as gross profit on sales of Rs.37.08

KUMAR BROTHERS CO. ,NEW DELHI vs. ACIT CENTRAL CIRCLE-26, NEW DELHI

In the result, the appeals of the Revenue are dismissed and the appeals of the assessee are partly allowed