Tribunal restricted addition to 25 per cent of value of alleged purchases as against 100% of disallowances made by the Assessing Officer . On appeal by the revenue following question of law is admitted “ Whether the Appellate Tribunal has erred in law and on facts of the case in restricting the addition to 25% of the value of alleged purchases after categorically finding it to be bogus “ (AY.2007 -08)
CIT v. Aashadeep Industries. (2018) 256 Taxman 440 (Guj) (HC)
S.260A:Appeal -High Court- Bogus purchases – Tribunal restricted addition to 25 per cent of value of alleged purchases as against 100% of disallowances made by the Assessing Officer – On appeal by the revenue following question of law is admitted “ Whether the Appellate Tribunal has erred in law and on facts of the case in restricting the addition to 25% of the value of alleged purchases after categorically finding it to be bogus “ [ S.37(1)]