9911796707
TMI Blog2024 (3) TMI 1074X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition on account of entire purchases which is wholly unjustified, because once the source of purchases have been debited in the books of accounts and corresponding quantity of material purchased had been recorded in the books and corresponding quantity of sales has also been accepted then, it cannot be held that purchases are outside books. At the most, it could be the case of purchases made fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue has challenged the action of the ld. CIT(A) in restricting the disallowance to 12.5% of the purchases instead of addition made by the ld. AO for the entire purchases of Rs. 14,90,401/-. 3. None appeared on behalf of the assessee. 4. The facts in brief are that assessee had filed his return of income on 13/10/2010 declaring total income of Rs. 6,96,151/- and the said return was processed u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we find that AO has made addition on account of entire purchases which is wholly unjustified, because once the source of purchases have been debited in the books of accounts and corresponding quantity of material purchased had been recorded in the books and corresponding quantity of sales has also been accepted then, it cannot be held that purchases are outside books. 7. At the most, it could be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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