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TMI Blog2019 (7) TMI 995X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 This Tax Appeal under Section 260A of the Income Tax Act, 1961 [for short, "the Act, 1961"] is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad dated 1st November 2018 in the ITA No.3260/AHD/2015 for the assessment year 2011-12. 2 The Revenue has proposed the following question of law: "whether the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar, total purchases of the appellant is Rs. 1,44,80,582/, out of which, the AO considered purchases of Rs. 66,76,237/as nongenuine. This is about 47% of the total purchases. If 47% purchases are nongenuine, how the appellant made sales is an important fact to be considered. ii) The appellant submitted stock register, which shows monthwise purchase and sales in terms of quantity. The AO did not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, being dissatisfied with the order passed by the CIT(A), preferred appeal before the Appellate Tribunal. The Appellate Tribunal took into consideration three judgments: (1) C.I.T. vs. M.K. Bros. : 163 ITR 249 (2) Diagnostics vs. C.I.T. : 334 ITR 111 (3) C.I.T. vs. Nikuni Exismp : 372 ITR 619 6 The Tribunal, while concurring with the finding recorded by the CIT(A), ultimately, held as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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