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TMI Blog2019 (9) TMI 1509X X X X Extracts X X X X X X X X Extracts X X X X ..... hing on record support the legal grounds raised by assessee before us. Therefore, these grounds stand dismissed. Estimation of additions of bogus purchases - There could be no sale without actual purchase of material keeping in view the assessee s nature of business. The assessee was in possession of primary purchase documents and the payments to the supplier was through banking channels. The sales turnover reflected by the assessee was not disputed / disturbed by Ld.AO. However, at the same time, the assessee miserably failed to substantiate the purchases during assessment proceedings. Notices issued u/s 133(6) remained unresponded to in all the cases. Under such circumstances, the additions which could be sustained, was to account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal: - The ground or grounds of appeal are without prejudice to one another. 1.On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in confirming the action of the AO in re-opening of the assessment u/s. 147 of the Income Tax Act, 1961 as the prescribed conditions therein are not satisfied. 2.a) On the facts and in the circumstances of the case and in law, the ld. CIT(A) erred in confirming the addition of ₹ 11,62,434/- made by the AO to the income of the Appellant on account of possible profit element @ 12.5% embedded in purchases made through alleged non-genuine parties on the basis of information of the Sales Tax Department about suspicious dealers. b) The ld. CIT(A) failed to appreciate that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AY u/s. 143(3) r.w.s. 147 on 29/02/2016 wherein the income of the assessee was determined at ₹ 17.31 Lacs after sole addition of alleged bogus purchases for ₹ 11.62 Lacs as against returned income of ₹ 5.68 Lacs filed by the assessee on 27/09/2011 which was processed u/s.143(1). 2.2 Pursuant to receipt of certain information from investigation wing / Sales tax Department, Govt. of Maharashtra, it transpired that the assessee stood beneficiary of alleged bogus purchases to the tune of ₹ 92.99 Lacs from 4 entities, the details of which have already been tabulated at para-5.1 of the quantum assessment order. Accordingly, as per due process of law, re-assessment proceedings were initiated against the assessee u/s 147 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... angible material in the shape of information from investigation wing / Sales Tax Department which, primafacie, suggested possible escapement of income in the hands of the assessee. Nothing more was required at this stage. Therefore, the reassessment proceedings were perfectly valid. Nothing on record support the legal grounds raised by assessee before us. Therefore, these grounds stand dismissed. 4. So far as the estimation of additions are concerned, we are of the considered opinion there could be no sale without actual purchase of material keeping in view the assessee s nature of business. The assessee was in possession of primary purchase documents and the payments to the supplier was through banking channels. The sales turnover refle ..... X X X X Extracts X X X X X X X X Extracts X X X X
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