{"id":5201,"date":"2019-04-28T14:32:05","date_gmt":"2019-04-28T14:32:05","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-mohommad-haji-adam-bomhcwww-itatonline-org\/"},"modified":"2019-04-28T14:32:05","modified_gmt":"2019-04-28T14:32:05","slug":"pcit-v-mohommad-haji-adam-bomhcwww-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-mohommad-haji-adam-bomhcwww-itatonline-org\/","title":{"rendered":"PCIT v. Mohommad Haji Adam (Bom)(HC),www.itatonline.org"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ; e<strong>ven if the purchases are bogus, the entire purchase amount cannot be added. As the department had not disputed the assessee&#8217;s sales &amp; there was no discrepancy between the purchases and the sales, the purchases cannot be rejected without disturbing the sales in case of a trader. The addition has to be restricted to the extent of the G.P. rate on purchases at the same rate of other genuine purchases (N.K .Industries Ltd v. Dy.CIT ( 2016) 72 taxmann.com 289\/( 2017) \u00a0292 CTR 354 (Guj),(HC) \u00a0N. K. Proteins\u00a0v. Dy.CIT (2017) \u00a0250 Taxman\u00a0 22 (SC)\u00a0referred.<\/strong>( ITA 1004 of 2016, dt. 11.02.2019)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69C :Unexplained expenditure -Bogus purchases \u2013Trader in fabrics &#8211;  -Entire purchases cannot be added without disturbing the sales \u2013 Addition is to be restricted  to the extent of G.P rate .[ S.145 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5201","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1lT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=5201"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5201\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=5201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=5201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=5201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}