TaxTMI 
TaxTMI 
2021 (3) TMI 765
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....mber ( J ) 1. This appeal filed by the Assessee is directed against the order of the Commissioner of Income Tax ('hereinafter called CIT(A)') order No. CIT(A)-10/ITO, Ward-1(2)(1)/10731/2016-17 order dated 11/09/2018 arising out of assessment order dated 16/12/2016. Assessee has taken following grounds of appeal: 1. On the facts and circumstances of the case as well as law on the subjec....
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.... were involved in the operation of providing accommodation entries of bogus sale bills and have been given the same to the various parties including the assessee as per their requirement. The Maharashtra Sales Tax Department has provided a list of parties of beneficiaries who have taken accommodation entries of bogus sales bills and in the instant case, the assessee's name is one of them who h....
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....der of ITAT in the case of M/s. Vijay Proteins Ltd. reported in 55 TTJ 76 wherein it was held fair an reasonable to disallow 25% of the total unverifiable purchases as reasonable amount of disallowance. 4. Now assessee has come before us. Assessee has pressed ground No. 1 and when bench asked him that if assessee is ready for 8% of the addition of total purchases than matter can be heard. 5. On ....
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.... year, stock register was properly maintained and purchases in question were reflected in such stock register - Tribunal thus reduced addition to 5 per cent of amount - Whether when assessee could produce before authorities precise rate at which purchases were made from 'V' and other suppliers to demonstrate that purchases made on same day carried same price, it could not be said that purc....