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TMI Blog2019 (6) TMI 1381X X X X Extracts X X X X X X X X Extracts X X X X ..... addition should be made to the extent of difference between the gross profit rate on genuine purchases and gross profit rate of hawala purchases. Such details are not readily available with the AR as well to facilitate the calculation of gross profit rates of genuine and hawala purchases. Set-aside the impugned and remit the matter to the file of AO for applying the ratio laid down by the Hon b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound to have recorded purchases from hawala dealer to the tune of ₹ 76,20,165/-. On being called upon to substantiate the genuineness of the transaction, the assessee filed certain details. The Assessing Officer (AO) got convinced to the extent of the quantity actually received against such hawala purchases. He, however, made an addition of ₹ 8,46,685/- @12.5% on account of excess purc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to facilitate the calculation of gross profit rates of genuine and hawala purchases. Under these circumstances, I set-aside the impugned and remit the matter to the file of AO for applying the ratio laid down by the Hon ble Jurisdictional High Court in the above noted case and recompute the amount of addition, if any, after allowing a reasonable opportunity of hearing to the assessee. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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