2022 (2) TMI 1482 - HC - Income Tax

Bogus purchases - bogus accommodation bills - hawala transactions from certain parties who were only providing accommodation sale bills - HELD THAT - All these appeals are covered by an order passed in M/S. PARAMSHAKTI DISTRIBUTORS PVT. LTD. 2019 (7) TMI 838 - BOMBAY HIGH COURT and M/S MOHOMMAD HAJI ADAM CO. 2019 (2) TMI 1632 - BOMBAY HIGH COURT wherein held that purchases cannot be rejected without disturbing the sales in case of a trader and additions limited to the extent of bringing the G.P. rate on purchases at the same rate of other genuine purchases.

Summary

The High Court of Bombay disposed of multiple Income Tax Appeals stating that they are covered by previous court orders, and nothing further remains in the appeals. The appellants and respondents were listed in the judgment.