2019 (7) TMI 838

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....t of the Income Tax Appellate Tribunal ("the Tribunal" for short). The following questions are presented for our consideration : (i) Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was justified in reducing the addition from Rs. 23.16 Lakhs to Rs. 2,21,600/- under Section 68 of the Income Tax Act in respect of the purchases made from M/s. Chevron Metal ....

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....m of Rs. 2,21,600/-. The Tribunal recorded that the Assessing Officer has not rejected either the purchases or the sales made out of the said purchases. The Tribunal therefore, was of the opinion that the addition should be restricted to 10% of the total purchases. The Revenue strongly disputes this proposition. 3. Without elaboration, what the Tribunal by the impugned Judgment held is that the D....