2017 (6) TMI 1337

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..... mer, was found to be making undisclosed sales. For the assessment year 2007-08, therefore, the Assessing Officer added a sum of ₹ 1.13 crores to the total income of the assessee by way of suppressed sale which was treated as unaccounted for undisclosed income of the assessee. In the appeal, the CIT(A) reduced the addition on the premise that not the entire unaccounted sale but only the pr .....

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..... gement of the Income Tax Appellate Tribunal dated 17.10.2016 raising following questions for our consideration: A. Whether the Appellate Tribunal was justified in clubbing the net profit declared by Swastic Polymers in its profit and loss account with income of assessee, while the profit declared is resultant of proven bogus purchases? B. Decision of the Appellate Tribunal is perverse, as i .....

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