{"id":8245,"date":"2019-11-16T13:34:51","date_gmt":"2019-11-16T13:34:51","guid":{"rendered":"http:\/\/itatonline.org\/digest\/agson-global-pvt-ltd-v-acit-delhitribwww-itatonline-org-2\/"},"modified":"2020-03-16T10:26:42","modified_gmt":"2020-03-16T10:26:42","slug":"agson-global-pvt-ltd-v-acit-delhitribwww-itatonline-org-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/agson-global-pvt-ltd-v-acit-delhitribwww-itatonline-org-2\/","title":{"rendered":"Agson Global Pvt. Ltd. v. ACIT ( 2019) 76 ITR 504 (Delhi)(Trib),www.itatonline.org"},"content":{"rendered":"<p><strong>Tribunal held that\u00a0 AO cannot blow hot &amp; cold by disallowing the purchases from a party as bogus while treating sales to same party as genuine. \u00a0Addition is held to be not justified . Percentage of addition to gross profit is held to be \u00a0Considered\u00a0 NK Proteins Ltd v CIT (2017 TIOL l 23 \u2013SC-IT), nk Industries Ltd v DCIT ( 2016) 72 taxann.com\u00a0 628 (Delhi) CIT v .La Medica ( 2001) 117 Taxman\u00a0 628 (Delhi )(HC) Ganesh Rice Mills\u00a0 v CIT ( 2007) 294\u00a0 ITR316 (All) (HC), Vijay Proteines Ltd v. ACIT (2015) 58 taxmann.com 44 (Guj) (HC) Sanjay Oil cake Industries Ltd v.ACIT (2009) 316 ITR 274 (Guj) (HC)\u00a0 \u00a0\u00a0<\/strong>( ITA No. 3741to 3746\/Del\/2019 (assessee) ITA No. 5264 to 5269\/Del\/2019 (Revenue) , dt.\u00a0 31.10.2019) (AY. 2012-13 to 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69C : Unexplained expenditure \u2013 Bogus purchases &#8211; AO cannot blow hot &#038; cold by disallowing the purchases from a party as bogus while treating sales to same party as genuine-Entire purchases cannot be disallowed \u2013  Percentage of addition  to gross profit is held to be justified.<\/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-8245","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-28Z","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8245","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=8245"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8245\/revisions"}],"predecessor-version":[{"id":10470,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8245\/revisions\/10470"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}