M/s. Vishal Babulal Shah Vs ITO- 19(3)(5) Mumbai

Parties Involved

Facts Summary

The assessee, M/s. Vishal Babulal Shah, appealed against the order of the Commissioner of Income Tax (Appeals) pertaining to the Assessment Year 2010-11. The grievance was that the Commissioner of Income Tax (Appeals) erred in upholding the order of the Assessing Officer and disallowing the purchase to the extent of 12.5% of Rs.1,01,18,076/- amounting to Rs.12,64,759/- on account of bogus purchases. The assessee contended that the payments were made through account payee cheques and the sales were accepted. However, the contention was dismissed by the Assessing Officer. The assessee carried the matter before the Commissioner of Income Tax (Appeals) but without any success.…

Legal Issues

• 1. Disallowance of purchase on account of bogus purchases.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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