ITAT Mumbai on 16th March 2020 held that In case of bogus bill found where actual purchases were made by cash, method of peak credit as adopted by AO would not be a suitable method rather an adhoc estimated addition would meet cause of justice
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433 total views MANUBHAI GEMS PRIVATE LTD. vs. DEPUTY COMMISSIONER OF INCOME TAX ITAT BOMBAY BENCH ‘E’ AMARJIT SINGH, JM & MANOJ KUMAR AGGARWAL, AM. ITA No. 7301/Mum/2019 Mar 16, 2020 Section 69C, 143(1) AY 2010-11 Decision in favour of: Assessee Cases…
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