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TMI Blog2018 (11) TMI 1898X X X X Extracts X X X X X X X X Extracts X X X X ..... eshwer [ 2018 (2) TMI 1785 - ITAT MUMBAI ] that the Tribunal in group concerns restricted the addition to 3% of the total such purchases. We, therefore, respectfully following the said orders of the co-ordinate bench of the Tribunal direct the AO to make the addition at the rate of 3% of such bogus purchases. Appeals of the assessee are partly allowed - ITA No. 4349/M/2017 And ITA No. 4348/M/2017 - - - Dated:- 28-11-2018 - Shri Mahavir Singh, Judicial Member And Shri Rajesh Kumar, Accountant Member For the Assessee : Shri Mani Jain, A.R. For the Revenue : Ms. Sunita Billa, D.R. ORDER Per Rajesh Kumar, Accountant Member : The present appeal has been preferred by the assessee against the order dated 27.03.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entities during the course of search and seizure under section 132. Finally, the assessment was framed under section 143(3) read with section 153B(1)(b) vide order dated 18.10.10 making an addition of ₹ 28,81,637 for A.Y. 2011-12 and ₹ 5,24,948/- for A.Y. 2012-13. 4. In the appellate proceedings the Ld. CIT(A) partly allowed the appeal of the assessee by sustaining the addition to the tune of 25% of the total bogus purchases. 5. The Ld. A.R. vehemently submitted before us that the assessee has purchased the goods from these dealers and duly entered the same in the books of accounts which were used in the construction of buildings and development of properties and thus the AO has not disputed the consumption of material at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he goods from the grey market and under these circumstances it is only the percentage of the total such purchases has to be brought to tax. The Ld. CIT(A) sustained the addition at 25% which is quite unreasonable and on the higher side. Moreover, we find from the perusal of the orders of co-ordinate bench of the Tribunal in the case of Adeshwer Enterprise vs. DCIT in ITA No.4335 to 4338/M/2017 A.Y. 2008-09 to 2011-12 and ACIT, Central Circle-1 vs. M/s. Abhinandan Buildtech Pvt. Ltd. vs. DCIT in ITA No.4065, 4066 4067/M/2017 A.Y. 2008-09, 2011-12 2012- 13 that the Tribunal in group concerns restricted the addition to 3% of the total such purchases. We, therefore, respectfully following the said orders of the co-ordinate bench of the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X
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