Sanket Ramniklal Joisar vs. Income Tax Officer
Parties Involved
Facts Summary
The present appeal was filed by the assessee, Sanket Ramniklal Joisar, against the order of the Commissioner of Income Tax (Appeals) dated 13.01.2025. The appeal pertains to the Assessment Year 2021-22. The assessee contested the order of the Assessing Officer (AO) and the First Appellate Authority, which rejected the books of accounts and estimated the profits earned from his business based on the allegation of bogus purchases. The assessee provided complete details of purchases made during the year and submitted supporting documents, but the AO rejected the books of accounts. The assessee argued that the AO and the First Appellate Authority erred in rejecting the books of accounts and estimating the income without proper basis.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the Assessing Officer and the First Appellate Authority erred in rejecting the books of accounts and estimating the income based on the allegation of bogus purchases.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
2 precedents cited in this judgement.
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