Bombay HC Dismissed Revenue Appeal as It Did Not Challenge CIT(A)’s Order

PCIT Vs Jain Dalichand Gosalia (Bombay High Court) The Bombay High Court dismissed the Revenue’s appeal under Section 260A of the Income-tax Act, 1961, arising from an ITAT order for AY 2009-10 concerning an addition for alleged bogus purchases under Section 69C. The Assessing Officer had originally made an addition of Rs. 38,13,697 as unexplained expenditure. On appeal, the Commissioner (Appeals) restricted the addition to 12.5% of the alleged bogus purchases, reducing it to Rs. 11,03,894. The Revenue did not challenge this order. The assessee thereafter appealed before the ITAT, which ...