Held that in the course of excess cash was found and books of account was not complete. As regards bogus purchases Tribunal-Restricted the disallowance to 6% of bogus purchases as against 12.5% estimated by the CIT(A). (AY. 2010-11)
Bhimsen Darbarilal Arora Through L/H Rajat Bhimsen Arora v.ACIT (2023) 224 TTJ 487 /150 taxmann.com 68 (Surat)(Trib)
S. 145 : Method of accounting-Unaccounted stock-Cash found during survey-Books of account was not complete-Justified in rejecting the books of account-Bogus purchases-Restricted the disallowance to 6% of bogus purchases as against 12.5% estimated by the CIT(A). [S. 133A, 145 (3)]