Held, dismissing the appeal the Court held that the sales having been accepted it was not necessary that the entire amount should be added to the income of the assessee. The Tribunal was right in upholding the order of the Commissioner (Appeals) directing the Assessing Officer to delete the disallowance made by the Assessing Officer on account of bogus purchases. (AY. 2011-12)
PCIT v. Batliboi Environmental Engineering Ltd. (2022) 446 ITR 238 (Bom.)(HC)
S. 143(3) : Assessment-Bogus purchases-No rule that entire purchases should be added-Sales accepted-Disallowance of 12.5 Per Cent. of purchases held to be proper. [S. 37(1)]