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TMI Blog2016 (12) TMI 550X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of assessee for A.Y. 2008-09 [2015 (4) TMI 533 - ITAT JAIPUR ] has decided this issue in the case of assessee by applying NP rate @ 15% on unverifiable purchases and had not found applicable average GP rate applied by the ld Assessing Officer. Thus, we do not find any reason to intervene in the order of the ld CIT(A). Accordingly, we confirm the order of the ld CIT(A). - Decided against rev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt restricting the trading addition to ₹ 7,85,442/- on bogus purchases as against the trading addition of ₹ 57,28,311/- on the basis of GP rate applied by the ld Assessing Officer @ 8.32% on total sale. The ld Assessing Officer observed that the assessment for the A.Y. was completed U/s 143(3) of the Income Tax Act, 1961 (in short the Act) on total income of ₹ 14,06,070 vide orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d GP worked out is correct. It is also stated that this being a calculation mistake, provisions of Section 154 are applicable to the facts of the case. Accordingly, he calculated GP rate @ 8.32% as against 6.06% worked out while framing the assessment. This calculation mistake is hereby rectified U/s 154 of the Act and addition on account of GP was made at ₹ 57,28,311/- as against ₹ 13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the last five years was more than the disallowance of 25% out of unverifiable purchases. Therefore, the ld Assessing Officer made addition of ₹ 13,50,711/-.. The ld Assessing Officer U/s 154 has worked out GP rate on the basis of addition confirmed by the ld CIT(A) @ 8.32% as against 6.06% worked out, in the order U/s 143(3). The Hon ble ITAT, Jaipur Bench, Jaipur in ITA No. 241/JP/2012 ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h, Jaipur had decided 15% of NP rate on unverifiable purchases, not average GP applied by the Assessing Officer. Therefore, he prayed to uphold the order of the ld CIT(A). 6. We have heard the rival contentions of both the parties and perused the material available on the record. The Coordinate Bench has decided this issue in the case of assessee by applying NP rate @ 15% on unverifiable purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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