2020 (4) TMI 889

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..... hout actual purchases. This proposition is supported from decision in the case of Nikunj eximp enterprises [ 2014 (7) TMI 559 - BOMBAY HIGH COURT] In this case the honourable High Court has upheld hundred percent allowance for the purchases said to be bogus when sales are not doubted. However, the facts of the present case indicate that assessee has made purchase from the grey market. Making p .....

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..... wance on account of bogus purchases, vide order dated 19.09.2018 pertaining to A.Y.2011-12. 2. The assessee in this case is engaged into business of ferrous non-ferrous metals. 3. The assessment was reopened upon information from swales tax department that assessee has made purchases from bogus dealers. 4. The AO in this case has made 12.5% addition on account of bogus purchase amountin .....

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..... es. This proposition is supported from honourable jurisdictional High Court decision in the case of Nikunj eximp enterprises (in writ petition no 2860, order dt 18.6.2014). In this case the honourable High Court has upheld hundred percent allowance for the purchases said to be bogus when sales are not doubted. However, the facts of the present case indicate that assessee has made purchase from the .....

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