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TMI Blog2017 (6) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... the present case it would be fair and reasonable if the addition is restricted and sustained to 10% of the total purchases in order to cover the leakages of revenue. - Decided partly in favour of assessee. - ITA No. 3394/Mum/2016 - - - Dated:- 12-5-2017 - Shri Mahavir Singh, JM And Shri Rajesh Kumar, AM Assessee by : Ms.Rutuja N Pawar Revenue by : Shri M C Omi Ningshan ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t traceable. The relevant papers found only after the work was completed which took almost 2 months time. The ld. AR tried to explain the delay in filing of the appeal by filing affidavit dated 12.5.2016. 4. The ld. DR, on the other hand, objected to the admission of the appeal by stating that the reasons stated for condonation of delay in filing the appeal were cogent, convincing and reasonabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that of the assessee s appeal decided by the Co-ordinate Bench of the Tribunal in ITA No.3108/Mum/2015(AY-2010-11) dated 8.7.2016 wherein the appeal is decided in favour of the assessee. Therefore, the ld.AR prayed that the appeal of the assessee should be decided by following the ratio laid down by the Co-ordinate Bench of the Tribunal in assessee s own case. 7. The ld. DR, on the other hand, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal in assessee s own case (Supra) by applying GP rate on the amount of bogus purchases. For the sake of convenience, we reproduce the operative part of the Tribunal decision as under : 4. I have considered rival contentions and found that merely on the basis of information from sales tax department, the AO has treated the purchases as bogus without making any independent enquiry. I also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that it would be reasonable and proper if the addition is sustained to the extent of 10% of the bogus purchase as the purchases were made in cash totally and the there were lot discrepancies in the books of account of the assessee and therefore, in the present case it would be fair and reasonable if the addition is restricted and sustained to 10% of the total purchases in order to cover the leaka ..... X X X X Extracts X X X X X X X X Extracts X X X X
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