Tribunal held that when the sales are not doubted . quantity tally was furnished and the CIT (A) had given a finding that only 20 per cent. of the purchases were disallowed on account of cash payment which was duly reflected in the books of account of the assessee. Accordingly the addition was not justified. Sanchita Marine Products vs. DCIT (2007) 15 SOT 290 (Mum) (Trib) Balaji Textile Industries Pvt. Ltd. v. ITO(1994) 49 ITD 177 (Mum)( Trib) ( AY.2011-12)
Dy. CIT v. Hind Industries Ltd. (2020)79 ITR 1/ (2021 ) 186 ITD 272 (Delhi) (Trib)
S. 69C : Unexplained expenditure -Bogus purchases – Sales not doubted – Quantitative tally of purchases of meat and exports furnished – Addition is held to be not justified .