2022 (10) TMI 152

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..... challans, GR, stock register to show delivery of goods. At the same time The sales turnover and the closing stock declared by the assessee have not been disputed by the Revenue. Without inputs there cannot be manufacturing/sales, therefore, in such circumstances, it is only the profit element embedded in unproved purchases that can be brought to tax and the entire bogus purchases cannot be dis .....

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..... he facts germane to the issue raised in all these appeals are identical, these appeals are taken up together for adjudication and are decided by this common order. For the sake of convenience, facts are narrated from appeal of assessee in ITA No. 1431/Mum/2019. ITA No. 1431/Mum/2019 (A.Y 2009-10) : 2. The brief facts of the case as emanating from record are: The assessee is engaged in man .....

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..... r.w.s. 147 of the Income Tax Act, 1961 (in short the Act ), the assessee filed appeal before the CIT(A). The ld. CIT(A) after examining facts of the case upheld the findings of the Assessing Officer to the extent that assessee has failed to prove genuineness of the purchases and suppliers, however, the CIT(A) granted part relief to the assessee by restricting disallowance to 12.5% of the bogus p .....

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..... t evidence viz. delivery challans, GR, stock register to show delivery of goods. At the same time The sales turnover and the closing stock declared by the assessee have not been disputed by the Revenue. Without inputs there cannot be manufacturing/sales, therefore, in such circumstances, it is only the profit element embedded in unproved purchases that can be brought to tax and the entire bogus pu .....

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..... ts in the present set of appeals are pari materia to Assessment Year 2009-10, the findings given while adjudicating appeal of Revenue for Assessment Year 2009-10 would mutatis mutandis apply to the present set of appeals. Both the appeals of Revenue are dismissed for parity of reasons. 6. In the result, appeals by the Revenue for Assessment Years 2009-10 to 2011-12 are dismissed. Order prono .....

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