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TMI Blog2021 (6) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... reas GP percentage of bogus purchases comes to 10%, then 2% of bogus purchases can be added to the income of the assessee. Reverting to the facts of the present case and taking guidance from the said judgment of the Hon'ble Bombay High Court in the case of Pr.CIT Vs. Mohommad Haji Adam (supra.), we set aside the order of the Ld. CIT(Appeal) and restore the matter back to the file of the Assessing Officer for undertaking this exercise and finding out the excess gross profit rate earned from bogus purchases and then making the addition accordingly after allowing reasonable opportunity of hearing to the assessee. - ITA No. 40/PUN/2017, ITA No. 81/PUN/2017 - - - Dated:- 10-5-2021 - Shri R.S.Syal, VP And Shri Partha Sarathi Chaudhury ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id concern is not in existences. Further, banks have given in some of the cases their bank account which categorically indicates that, the monies have been deposited by cheque against the sales and withdrawn by self cheques in cash on the same date for returning to the purchaser by charging certain commission. In view of this situation, the assessee indulged into purchase of material unaccountedly in cash from undisclosed sources in contravention to the provisions of section 40A(3) and 69C of the IT Act,1961 from some other parties and obtained only the bills from the hawala dealers without movement of goods including circumstantial evidences in the form of transportation, weightment slips and debiting the expenses into the cash book for su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... V 229.895 9764313 390572 10154885 2. Shivam Trading Company 27490600351V 82.680 2387071 95483 2482554 3. Rashmi Enterprises 27580657871V 99.250 4155148 166206 4321354 Total 411.825 163,06,532 6,52,261 1,69,58,793 5. During the First Appellate Proceedings, the Ld. CIT(Appeals) c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Haji Adam (supra.), we set aside the order of the Ld. CIT(Appeal) and restore the matter back to the file of the Assessing Officer for undertaking this exercise and finding out the excess gross profit rate earned from bogus purchases and then making the addition accordingly after allowing reasonable opportunity of hearing to the assessee. 8. In the result, appeal of the Revenue in ITA No.40/PUN/2017 is allowed for statistical purposes. ITA No.81/PUN/2017 ( By Assessee) A.Y. 2009-10 9. In ITA No.81/PUN/2017, the assessee has raised following grounds of appeal: 1.CIT(A) has erred both on facts and in law in estimating and adding additional 10% gross profit on alleging unverifiable purchase bills from differe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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