12.5% disallowance out of the bogus purchases, done by the learned CIT(A) meets the end of justice

Last updated: 22 January 2021
Quick Summary
The Income Tax Appellate Tribunal reviewed appeals concerning bogus purchases made by M/s. Tristar Engineering & Chemical Company. The Assessing Officer had initially proposed additions based on information from the sales tax department. However, the Commissioner of Income Tax (Appeals) reduced the addition, sustaining only 12.5% of the disallowance for bogus purchases, a decision the Tribunal found to meet the ends of justice.

Court :
ITAT Mumbai

Brief :
These are appeals by the revenue wherein the revenue is aggrieved thatlearned Commissioner of Income Tax (Appeals) [in short learned CIT(A)] hasreduced the addition by sustaining only 12.5% of the disallowance for bogus purchases.

Citation :
ITA 1328/MUM/2019

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited Judgements Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

 
Comments

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Recent Judgments :

  1. Supreme Court to examine whether the six-month time limit for issuance of show cause notice under Section 74(2) of the CGST Act is mandatory or directory
  2. Advocates ought to be summoned only in rare and exceptional circumstances
  3. Unsigned Assessment Order in Form GST DRC-07 is Invalid as Absence of the Assessing Officer's Signature is an Incurable Jurisdictional Defect
  4. SC to examine whether an assessee can be relegated to the appellate remedy, when the challenge is to a binding Circular
  5. Mere Expiry of E-Way Bill Without Intent to Evade Tax Cannot Justify 200% Penalty
  6. No GST Levy on Assignment of Leasehold Rights of Industrial Plots as Supreme Court Dismisses Revenue's SLPs
  7. Supreme Court affirms the constitutional validity of Section 16(2)(c) of the CGST Act: No ITC to the recipient unless the supplier actually deposits tax to the Government
  8. No Addition under Income Tax Law on Bogus Purchases, Where Sales Are Accepted and Supplies Are Backed by GST Records and Banking Trail
  9. Voluntary Tax Payment Does Not Bar Proceedings Under Section 74 Where Suppression Allegation Remains Uncontested
  10. Appellate Authority Cannot Pass "Copy-Paste" Orders Without Independent Application of Mind

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Sunaram MarndiSunaram MarndiPro Member Narayan BeraNarayan BeraPro Member R NATARAJANR NATARAJANPro Member Akhila AjayanAkhila AjayanPro Member CA jignesh daiyaCA jignesh daiya
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
Featured 16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT, CA SemiQualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 July 2026
Article Assistants

R Shyam and Associates

New Delhi

CA Final

View Details
Company
31 July 2026
Senior Accountant - Bunia, Democratic Republic of Congo

AD GLOBAL LTD

Mumbai

B.Com

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 28 July 2026
Article/Intern/Semi-Qualified/Fresher B.Com

VNSS & Co

Mumbai

Others

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Follow