2020 (1) TMI 1649

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....the Revenue is aggrieved that the learned CIT-A has deleted the addition of Rs. 12,80,172/- by sustaining only 12.5% disallowance on account of bogus purchases, vide order dated 27.04.2018 pertaining to Assessment Year 2010-11. 2. The assessee in this case is engaged into manufacturing business. 3. The assessment was reopened upon information from sales tax department that assessee has made purc....

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....#39;ble Jurisdictional High Court decision in the case of Nikunj Eximp Enterprises (in writ petition no 2860, order dt 18.6.2014). In this case the Hon'ble High Court has upheld hundred percent allowances for the purchases said to be bogus when sales are not doubted. However the facts of the present case indicate that assessee has made purchase from the grey market. Making purchases through th....