2022 (3) TMI 1405

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..... dh Ratnaparkhi. ORDER Per Pramod Kumar, VP : 1. By way of this appeal, the Assessing Officer has challenged the correctness of the order dated 31st August 2018, passed by the learned CIT(A) in the matter of assessment u/s. 143(3) of the Income Tax Act, 1961 for the assessment year 2014-15. 2. Grievances raised by the Assessing Officer are as follows: (1) "On the facts and in the circumsta .....

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..... as in similar facts and circumstances inter alia, observed as follows: 4. In support of his case Ld. counsel of the assessee has placed reliance upon the decision of Hon'ble Gujarat High Court in the case of Pr. CIT Vs. T.R. Kapadia in Tax Appeal No.691 of 2017. 5. In this case the Hon'ble High Court has confirmed the deletion of disallowance on account of alleged bogus purchase as necessary .....

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..... tition no. 2860, order dt. 18.06.2014. In this case the Hon'ble High Court has upheld hundred percent allowance for the purchases said to be bogus when sales are not doubted. However, in that case all the suppliers were government agency. In the present case the facts of the case indicate that assessee has made purchase from the grey market. Making purchases through the grey market gives the asses .....

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