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TMI Blog2019 (3) TMI 1874X X X X Extracts X X X X X X X X Extracts X X X X ..... . CIT(A), the assessee must have incurred some expenditure in procuring accommodation bills which we estimate at 5% of the total purchases from Rajasthan metals which is ₹ 1.45 crores which means that the assessee must have incurred expenditure of ₹ 7 lakhs for procuring accommodation bills. Modifying the findings of the ld. CIT(A), we direct the Assessing Officer to restrict the addition to ₹ 13.43 lakhs. - Decided partly in favour of revenue allowed. - ITA No. 3673/DEL/2015 - - - Dated:- 11-3-2019 - SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER For the Appellant : Ms. Ashima Neb, Sr. DR For the Respondent : Shri P.K. Mishra, CA ORDER PER N. K. BILLAIYA, ACCOUNTANT MEMBER: This appeal by the Revenue is preferred against the order of the ld. CIT(A) 2, New Delhi dated 27.02.2015 pertaining to A.Y 2006-07. 2. The substantive grievances of the Revenue read as under : i) On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in restricting the addition to ₹ 6,43,466/- out of the total addition of ₹ 71,95,000/- on account of bogus purchases. ii) On the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .03.2006 800000 Ramji Traders - 752469 11.03.2006 300000 71,95,000 5. The assessee was asked to explain the transaction to establish the genuineness of the purchases by furnishing copy of accounts of the aforementioned parties with respect to confirmations. 6. In spite of the specific requisition, the assessee did not file the requisite details. The Assessing Officer was of the opinion that the assessee has nothing to say and treated the transaction of purchases of ₹ 71.95 lakhs as bogus and added back the same to the total income of the assessee. 7. The assessee strongly agitated the matter before the ld. CIT(A) and pointed out that the purchases made from Rajasthan Metals were to the tune of ₹ 1.45 crores and the Assessing Officer has doubted only purchases to the extent of ₹ 71.95 lakhs which means that the Assessing Officer has accepted the genuineness of the purchases from the same supplier for the balance amount. It was further contended that durin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ases and payments made to them and proof of identity. iii) comparable gross profit rate in the trade of the assessee. 6.5.5 The appellant vide its reply dated 23.02.2015 has submitted the required information. From perusal of the same it is seen that the appellant s G.P rate for the three years is as under: - Asstt Year 2006-07 3.83% Asstt Year 2007-08 1.37% Asstt Year 2008--09 2.84% 6.5.6 It is also seen that the appellant has made purchases from M/s. Rajasthan Metal and made payments to them as under: - Asstt. Year Purchases Payments made 2006-07 ₹ 1,45,23,400/- ₹ 10,00,000/- 2007-08 NIL ₹ 1,35,23,400/- 2008-09 NIL NIL 6.5.7 The appellant has furnished a letter from Delhi Stainless Re-rolling Association (Regd), a representative body of the manufacturers and traders in the line of trade of the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 02.11.2006 10,00,000/- 2006-07 2007-08 3. Ramji Traders 752468 01.11.2006 10,00,000/- 2006-07 2007-08 4. Rajasthan Metals 788804 03.06.2006 9,00,000/- 2006-07 2007-08 5. Ramji Traders 461888 03.11.2006 8,00,000/- 2006-07 2007-08 6. Rajasthan Metals 374774 03.04.2006 6,00,000/- 2006-07 2007-08 7. Shree Balaji Trading Co. 461891 04.11.2006 7,95,000/- 2006-07 2007-08 8. Ramji Traders 461890 04.11.2006 8,00,000/- 2006-07 2007-08 9. Ramj ..... X X X X Extracts X X X X X X X X Extracts X X X X
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