2012 (1) TMI 219 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Jaipur allowed the appeal by the assessee against the order of ld. CIT (A) for assessment year 2006-07. The Tribunal confirmed the addition of Rs. 68,422 by disallowing 25% of unverifiable purchases. The Tribunal considered past GP rates and current circumstances, and sustained a trading addition of Rs. 10,000 to meet the ends of justice. The appeal of the assessee was allowed in part. The order was pronounced on 09.01.2012.