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TMI Blog2018 (12) TMI 1446X X X X Extracts X X X X X X X X Extracts X X X X ..... ness of the purchases made from the concentrated parties through proper documentary evidences. Further, even before me also the assessee has not produced any material to prove the genuineness of the purchases made. However, as rightly observed by the CIT(A), the AO has not doubted the sales effected by the assessee. Therefore, as a natural corollary it has to be assumed that in the absence of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 30.10.2017and it relates to A.Y. 2010-11. 2. The issue in dispute in the present appeal is restricted to addition of ₹ 3,35,062/- on account of non-genuine purchases. 3. Brief facts of the case are that the assessee, a company, is engaged in fabrication, engineering and trading in aluminium products. For the assessment year under dispute the assessee filed its return of income on 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statement showing payment towards purchases made, etc. However, the assessee neither could furnish transport details and delivery challans to prove the actual delivery of goods nor the assessee could produce concerned parties before the AO. Since, the notices issued under section 133(6) of the Act by the AO to the concerned parties returned unserved by the postal authorities, the AO observed that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition. Accordingly, he directed the AO to restrict the disallowance to 12.5% of the purchases made from the hawala operators. 4. When the appeal was called for hearing no one was present for the assessee in spite of notice of hearing issued through registered post. In view of the aforesaid, I proceed to dispose of the appeal ex-parte qua the assessee after hearing the learned Departmental R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o prevent leakage of revenue. Admittedly, the learned CIT(A) has restricted the addition made to the profit element embedded in the bogus purchase by estimating the same at 12.5%. The estimation of profit at 12.5% as made by the CIT(A), in my view, being reasonable needs no interference. Accordingly, the grounds raised are dismissed. 6. In the result, the appeal filed by the assessee is dismiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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