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1 result for “bogus purchases”+ Rectification u/s 154clear

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Key Topics

Section 15410

SEEMA JAIN,HYDERABAD vs. ITO., WARD-8(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

ITA 1112/HYD/2024[2017-18]Status: DisposedITAT Hyderabad30 Dec 2024AY 2017-18

Bench: Shri Manjunatha G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1112/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2017-18) Seema Jain Vs. Ito, Ward-8(1) Hyderabad Hyderabad [Pan : Afnpj4732N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.Venkateswarlu, Ar रधजस् व द्वधरध/Revenue By:: Shri R.Kumaran, Dr सुिवधई की तधरीख/Date Of Hearing: 18/12/2024 घोर्णध की तधरीख/Date Of 30/12/2024 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: This Appeal Filed By The Assessee Is Directed Against The Order Dated 27.08.2024 Of The Learned Commissioner Of Income Tax (Appeals) [Ld.Cit(A)], National Faceless Appeal Centre, Delhi, Pertaining To A.Y.2017-18. 2. The Brief Facts Of The Case Are That The Assessee Is Carrying On The Business Of Trading In Jewellery & Also Job Work For Her Customers, Filed Her Return Of Income For The A.Y.2017-18 On 12.09.2017, Declaring Total Income Of Rs.13,09,720/- The Assessment Has Been Completed U/S 143(3) Of The Income Tax

For Appellant: Shri S.Venkateswarlu, ARFor Respondent: : Shri R.Kumaran, DR
Section 143(3)Section 154Section 250Section 40Section 69A

rectification involves a simple arithmetic and therefore the rejection of the assessee’s plea that it is not a mistake apparent from record is unjustified. The Ld.CIT(A) further observed that when the purported sales were treated as bogus, it has to be necessarily reduced from the gross turnover reported by the assessee in the financials for the year