SC upheld HC order on deletion of addition for Bogus Purchase

Supreme Court has in the case of PCIT Vs. Tejua Rohitkumar Kapadia  upheld the Gujarat high Court Order and dismissed the special leave petition filed by Department on the issue of  deletion of Addition for Bogus Purchases.  Text of the High Court Judgment  in TAX APPEAL NO. 691 of 2017 dated: 18 September, 2017 is as follows:- 1. The Revenue is in appeal against the judgment of Income Tax Appellate Tribunal dated 16.1.2017 raising the following question for our consideration: “Whether on the facts and circumstances of case and in laws the Appellate Tribunal was justified in treating the...