2018 (2) TMI 1876

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.... (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 20.04.2017 raising following question for our consideration: "Whether, on the facts and in the circumstances of the case and in laws, the Hon'ble ITAT is justified in holding the decision of the Ld Commissioner of Income tax (Appeal) is restricting the disallo....

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.... addition of the entire amount. "7.5 It may be mentioned here that assessee might have purchased the goods in cash using his unaccounted money and, only with a view to coverup the purchases corresponding to the sales, bogus bills might have been procured thereby creating the unproven credits in balance sheet. This is proved beyond doubt that such trade credits and creditor expenses are not genui....