9911796707
TMI Blog2021 (6) TMI 971X X X X Extracts X X X X X X X X Extracts X X X X ..... peal has been filed by the Revenue challenging the impugned order dated 23rd August 2019, passed by the learned Commissioner (Appeals)-2, Nashik, for the assessment year 2011-12. 2. The grounds of appeal raised by the Revenue are as reproduced below:- 1. On the facts and in the circumstances of the case, and in law, the Ld. CIT(A) has erred in not appreciating the fact that the assessee could n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stock register, etc. to restrict the addition to 25% of bogus purchases from the non-existent vendors. 4. On the facts and in the circumstances of the case, and in law, the Ld. CIT(A) has erred in not appreciating the law correctly that once the purchases are unverifiable/not genuine/bogus, the same should have been disallowed in entirety, particularly in view of the ratio of the decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome of Rs. 1,09,78,070. Subsequently, information has been received from the Sales Tax Department that the assessee has claimed expenses towards purchase during the financial year 2010-11 from M/s. Harish Metal & Tubes of Rs. 32,80,369 and from M/s. Triveni Metal India of Rs. 69,31,546. Hence, the Assessing Officer issued notice under section 133(6) of the Act to these parties to confirm the tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the two parties which are hawala entry provider and accordingly total expenses claimed of Rs. 1,02,11,915, was added to the total income of the assessee. Aggrieved by the addition made by the Assessing Officer, the assessee carried the matter in appeal before the first appellate authority. 4. The learned Commissioner (Appeals) after considering the submissions of the assessee in the context ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the decisions of the Tribunal in identical nature of cases, the decision of learned Commissioner (Appeals) to restrict the disallowance to 25% of the non-genuine purchase is fair and reasonable warranting no interference at the instance of the Revenue. Accordingly, we uphold the order of learned Commissioner (Appeals) by dismissing the grounds raised by the Revenue. 6. In the result, Revenue' ..... X X X X Extracts X X X X X X X X Extracts X X X X
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