ITO 27 (1)(5), Mumbai vs M/S GLUCK (INDIA) MANUFACTURING COMPANY , Mumbai

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Last updated: 28 November 2020
Quick Summary
This appeal concerns a decision by the Income Tax Appellate Tribunal regarding bogus purchases made by Gluck (India) Manufacturing Company. The Assessing Officer initially added the full amount of Rs. 3,76,530/- for these purchases. However, the Commissioner of Income Tax (Appeals) reduced this addition to 12.5%, noting that the sales had not been disputed.

Court :
ITAT Mumbai

Brief :
This is an appeal by the revenue wherein the revenue is aggrieved that Learned Commissioner of Income Tax (Appeals) [in short learned CIT(A)] has reduced the addition for bogus purchase of Rs. 3,76,530/- done @ 100% by Assessing Officer by sustaining only 12.5%.

Citation :
I.T.A. No. 1838/Mum/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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