Tribunal held that no ad hoc addition for bogus purchases should be made. The addition should be made to the extent of difference between the gross profit rate on genuine purchases and gross profit rate on hawala purchases. Since specific details were not available for facilitating the calculation of gross profit rates of genuine and hawala purchases the matter was remanded to the Assessing Officer. (AY. 2009-10)
Anil Jairam Goel v. ITO (2020) 80 ITR 47 (SN) (Pune)(Trib.)
S. 143(3) : Assessment-Bogus purchases-No ad hoc addition can be made-Only difference between gross profit rate on genuine purchases and hawala purchases can be made. [S. 37 (1)]