2019 (7) TMI 995

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....: HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1 This Tax Appeal under Section 260A of the Income Tax Act, 1961 [for short, "the Act, 1961"] is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad dated 1st November 2018 in the ITA No.3260/AHD/2015 for the assessment year 2011-12. 2 The Revenue has proposed the follo....

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....ading in ferroous and non ferrous metal. During the year, total purchases of the appellant is Rs. 1,44,80,582/, out of which, the AO considered purchases of Rs. 66,76,237/as nongenuine. This is about 47% of the total purchases. If 47% purchases are nongenuine, how the appellant made sales is an important fact to be considered. ii) The appellant submitted stock register, which shows monthw....

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....und to be justified, and hence, they were ordered to be deleted. 5 The Revenue, being dissatisfied with the order passed by the CIT(A), preferred appeal before the Appellate Tribunal. The Appellate Tribunal took into consideration three judgments: (1) C.I.T. vs. M.K. Bros. : 163 ITR 249 (2) Diagnostics vs. C.I.T. : 334 ITR 111 (3) C.I.T. vs. Nikuni Exismp : 372 ITR 61....