No substantial question of law under Section 260A where ITAT affirms bogus purchase additions as factual findings HC held that the ITAT's decision on addition for bogus purchases was purely factual and raised no substantial question of law. The addition was based on ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
No substantial question of law under Section 260A where ITAT affirms bogus purchase additions as factual findings
HC held that the ITAT's decision on addition for bogus purchases was purely factual and raised no substantial question of law. The addition was based on statements that the impugned transactions were mere accommodation entries without actual purchases or sales. The assessee had contended lack of opportunity to cross-examine the person whose statement was relied upon. HC found no legal infirmity in ITAT's appreciation of evidence and its conclusion on genuineness of purchases. Consequently, the appeal was dismissed.
The High Court of Bombay dismissed the appeal regarding deletion of addition on account of bogus purchases made by the assessee from M/s. Thakkar Agro Industrial Chem Supplies P. Ltd. The Tribunal's decision was upheld as the assessee was not given the opportunity to cross-examine the Director of M/s. Thakkar Agro Industrial Chem Supplies P. Ltd. whose statement was relied upon by the revenue.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
