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TMI Blog2021 (9) TMI 252X X X X Extracts X X X X X X X X Extracts X X X X ..... grieved by confirmation of certain addition of alleged bogus purchases of Rs. 14.66 Lacs for Assessment Year 2012-13, the assessee is in further appeal before us. The assessment was framed u/s. 143(3) r.w.s. 147 on 26/03/2015 which was confirmed by Ld. CIT(A)-26, Mumbai vide impugned order dated 28/06/2019. The assessee being resident individual is stated to be engaged in the business of printing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made suspicious purchase in A.Ys. 2010-11 & 2011-12 which ultimately culminated into certain additions in the hands of the assessee. These additions have been accepted by the assessee. On the basis of said information, Ld. AO formed an opinion that the assessee would have taken bogus bills in A.Y. 2012-13 also to suppress profits. Another reason of reopening was that there was difference in TDS f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. At the stage of issue of notice, the only question to be considered was whether there was relevant material on which a reasonable person could have formed a requisite belief that income has escaped assessment. Based on precise information as received from DGIT (Inv.), Ld. AO had this belief and reopened the case. Therefore, the same was perfectly valid in the eyes of law. On merits, the quantum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds, thus raised, stand dismissed. 5. Regarding quantum of additions, Ld. AR has submitted that similar issue arose in A.Ys. 2010-11 & 2011-12 wherein Ld. AO estimated addition of 15% in set-aside proceedings. Since the same has been accepted by both the sides, similar estimation may be made in this year. Concurring with the same and adopting consistent approach in the matter, we direct Ld. AO to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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