2015 (9) TMI 911

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.... 1. By way of the present appeal filed under Section 260A of the Incometax Act, 1961, the revenue has challenged the order dated 10.09.2004 passed by the Commissioner of Income Tax (Appeals)VII, Ahmedabad (herein after referred to as 'the CIT (Appeals)' for short) in CIT Appeal No. CIT(A)VII/ Wd.3(4)/60/042005 as well as the order dated 30.01.2009 passed by the Income Tax Appellate Trib....

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....by way of cheques and therefore there is no question of making false entries in the books of account with regard to the purchase. The CIT (Appeals), by relying upon the decision in case of Vijay Proteins Ltd. V. Commissioner of Incometax reported in [2015] 58 taxman.com 44(Gujarat), held that the assessee would be liable to pay the income tax only to the ratio of 25% of the amount of purchase valu....