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Bombay HC Upholds Addition on Unproved Purchases, Surprised AO Didn’t Make 100% Addition
Case Law Details
- Case Name
- Refrigerated Distributors Pvt Ltd Vs DCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All High Courts, Bombay High Court
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Refrigerated Distributors Pvt Ltd Vs DCIT (Bombay High Court)
The Bombay High Court dismissed appeals filed by Refrigerated Distributors Pvt Ltd against the Deputy Commissioner of Income Tax (DCIT) concerning assessment years 2007-08 to 2012-13. The central issue revolved around the Income Tax Appellate Tribunal’s (ITAT) decision to confirm a 10% addition to the gross profit margin on account of unproved purchases for the Assessment Year 2009-10. The appellant’s counsel argued that the rejection of their books of account and the subsequent addition were improper, contending that th...
