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TMI Blog2014 (11) TMI 1293X X X X Extracts X X X X X X X X Extracts X X X X ..... K PATEL, ADVOCATE For the Respondent : MR SN DIVATIA, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR. JUSTICE KS JHAVERI) 1. By of these appeals, the appellant of Tax Appeal No. 616/2005 has challenged the judgment and order dated 21.8.2003 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'B' in ITA No. 1186/Ahd/2001 for A.Y. 1997-98 and the appellant of Tax Appeal No. 627/2005 has ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amounting to Rs. 16,04,032/- ?" 3. The facts of the present case are that the return of income was filed by the assessee on 29.10.197 declaring a total income of Rs. 2,38,321/- which was accepted u/s. 143(1)(a) on 26.3.98. The tax payable was determined at Rs. NIL after considering prepaid taxes of Rs. 63,776/-. The assessee is the proprietor of M/s. Jyoti Electricals which is engaged in the trad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d argued for enhancement of disallowance on account of bogus purchase. In our view, in fact, the Tribunal has rightly assessed the disallowance at the rate of 15%. The Tribunal has observed as under in paragraph-5: "The ld. AR submitted that 25% disallowance taken in the said decision of the Tribunal is excessive looking to the nature and business activities of the assessee. The assessee is deal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ordingly, an addition of Rs. 2,40,605/- is confirmed out of the addition of Rs. 13,63,427/- is deleted. In the light of above discussion, we modify the orders of authorities below accordingly. The first common ground of both the appeals is disposed of accordingly." 5. The decision of this Court in the case of Sanjay Oil Cake Industries vs. Commissioner of Income Tax, reported in (2009) 316 ITR 27 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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