ITO 28(1)(1), MUMBAI Vs SHRI AHMED MOHMED VASTA, MUMBAI

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Last updated: 30 October 2020
Quick Summary
This Income Tax Appellate Tribunal case involves an appeal by the Revenue against a decision by the CIT(A). The Assessing Officer had made a 100% addition for bogus purchases amounting to Rs. 4,24,081. However, the CIT(A) reduced this addition to 12.5%, noting that the assessee's sales were not in doubt and relying on case law. The Revenue is now appealing this reduced addition.

Court :
ITAT Mumbai

Brief :
This is an appeal by the Revenue wherein the Revenue is aggrieved that the learned Commissioner of Income Tax (Appeals)-26, Mumbai (‘ld.CIT(A) for short) dated 29.03.2019 has reduced the addition for bogus purchase of Rs.4,24,081/- done by the Assessing Officer @ 100% by sustaining only 12.5%.

Citation :
ITA No. 3558/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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