Case Law Details
Case Name : Mukesh Ashmal Bokadia Vs ITO (ITAT Ahmadabad)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Ahmedabad
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Brief of the Case
ITAT Ahmadabad held In the case of Mukesh Ashmal Bokadia vs. ITO that AO is not justified to make addition on account of purchases as this is not the situation because books of account have not been fully rejected, none of the parties has previously been proved as bogus, part of payments made towards the purchases have already been allowed by the Assessing Officer and no specific working has been made by the Assessing Officer to treat a particular purchase from a supplier as bogus purchase. Further the outstanding purchases at the end of the year have been subsequently paid b...
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Very good and sensible decision by ITAT, Ahmedabad. All Legal costs + harassment + interest @ 24% pa on deposit of tax by assessee if any must be recovered from AO.Even CIT (A) is no hope. when officers deem purchase to be Bogus then how assessee sold the material. did he manufacture goods out of Bogus Bill paper?. If purchases are rejected then sales must also be done away. AO must have applied mind as doing such a harm to business confidence was uncalled for. No Business can make > 300% profit when turnover is in crores. The assessee was not selling vegetables.Such officers exist in Mumbai also who without applying mind make illegitimate additions. NAMO government must check such officers and make them responsible if there are frequent negative orders.