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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 ..... urnment application was filed by the assesse. Therefore, the submissions of the Ld. DR were recorded and cases were heard on merits. First, we would take up Revenue's appeal in ITA No.40/PUN/2017 for the assessment year 2009-10 for adjudication. ITA No.40/PUN/2017 ( By Revenue) A.Y.2009-10 3. In ITA No.40/PUN/2017, the Revenue has raised following grounds of appeal: "1. Whether on the facts and in the circumstances of the case the CIT(A) was justified in to restrict the addition to Rs. 16,95,879/- (10% of Rs. 1,69,58,793/-) though AO noticed that assessee shown purchases in the books of accounts and whereas no material against the purchase bills had been received in reality. 2. Whether the CIT(A) was justified in not appreciating th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing more than 1935 Hawala Operators who have issued fake purchase bills to more than 37000 business entities including the assesse was received from the Sales Tax Department, the assesse was one of the beneficiary claimed to have been purchased the goods to the extent of Rs. 1,69,58,793/- from a hawala operator and shown in the books of account and whereas, no material against the purchase bills had been received in reality. The Assessing Officer had alleged that the assesse company had purchased 411.825 MT of goods from parties declared by Sales Tax as hawala parties and, accordingly, he made addition of Rs. 1,69,58,793/- on account of following alleged hawala/inflated purchases : Sr. No. Party Name & Address VAT TIN Quantity Basic V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if the GP percentage of genuine purchases comes to 8% whereas GP percentage of bogus purchases comes to 10%, then 2% of bogus purchases can be added to the income of the assessee. 7. 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. 8. In the result, appeal of the Revenue in ITA No.40/PUN/2017 is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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