Case Law Details
Case Name : Capacite Infra Projects Ltd Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2018-19
Courts :
All ITAT ITAT Mumbai
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Capacite Infra Projects Ltd Vs DCIT (ITAT Mumbai)
Introduction: The recent ruling by the Mumbai Income Tax Appellate Tribunal (ITAT) in the case of Capacite Infra Projects Ltd Vs DCIT has significant implications for tax assessments concerning non-genuine/Bogus purchases. Let’s delve into the details of the case and its outcome.
Detailed Analysis:
1. Disallowed Purchases: The Assessing Officer disallowed purchases worth Rs. 30,92,800/- by Capacite Infra Projects Ltd under section 37(1) of the Income Tax Act, 1961, citing them as unverified. The company contested this disallowance, arguin...
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Author Bio
with due respect ITAT Bombay Order is somewhat different. when it is found that Purchase of X rupees
is totally bogus then entire such amount of such bogus purchase should have been disallowed as
it is not a real expense at all so the question of application of Net Profit ratio does not arise.