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TMI Blog2017 (7) TMI 1082X X X X Extracts X X X X X X X X Extracts X X X X ..... es, we are of the opinion that the addition sustained by the ld.CIT(A) at the rate of 7.5% which was calculated at the rate of 12.5% (-) GP already declared which is 5% is most reasonable and justified and therefore the same is affirmed. Accordingly, the appeal of the revenue is dismissed. - I.T.A. No.558/Mum/2016 ( Assessment Year :2009-10) - - - Dated:- 4-7-2017 - JOGINDER SINGH (JM), AND ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er dated 21.12.2011 assessing the total income at ₹ 9,35,130/-. The case of the assessee was reopened under section 147 and notice u/s 148 of the Act was issued to the assessee on 5.3.2012, after the AO received the information that the assessee has taken some accommodation entries of bogus purchase. Accordingly, the AO issued notice u/s 133(6) of the Act to various parties which we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7.5% on the same over and above the regular profit declared by the assessee. Aggrieved by the order of ld.CIT(A), the assessee is in appeal before us. 4. We have heard the rival parties and perused the material placed before us. The undisputed facts are that the assessee has made transactions with hawala operators who were not traceable on the addressed given by the assessee and even notice is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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