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TMI Blog2022 (11) TMI 620X X X X Extracts X X X X X X X X Extracts X X X X ..... a ORDER PER M. BALAGANESH (A.M): These appeals in ITA Nos.1499/Mum/2020 to 1501/Mum/2020 for A.Yrs.2010-11, 2011-12 & 2013-14 respectively to arise out of the order by the ld. Commissioner of Income Tax (Appeals)-59, Mumbai in appeal No.CIT(A)-59,Mumbai/10723/2017-18, CIT(A)-59,Mumbai/10874/2017-18 & CIT(A)-59, Mumbai/10724/2017-18 dated 31/01/2020 (ld. CIT(A) in short) against the order of ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot pressed by the ld. AR at the time of hearing. The same is reckoned as a statement made from the Bar and hence, dismissed as not pressed. 4. The only surviving issue that needs to be adjudicated is as to whether the ld. CIT(A) was justified in confirming the disallowance made on account of non-genuine purchases by estimating the profit element at 3% thereon as against 5% estimated by the ld. AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest of justice. Accordingly, the ld. AO estimated the profit element embedded in the value of such disputed purchases at 5% which was reduced to 3% by the ld. CIT(A). 4.2. The only issue that arises before us is as to whether the estimation on profit element made by the ld. CIT(A) at 3% is just and fair. It is pertinent to note that against the order of the ld. CIT(A), the Revenue had not pref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stimating the profit percentage at 3% on which we do not deem it fit to interfere. In other words, the estimation of profit percentage at 3% by the ld. CIT(A) is just and fair and does not require any interference. Accordingly, the ground No.2 raised by the assessee is dismissed. 6. In the result, appeal of the assessee for A.Y.2010-11 is dismissed. ITA No.1500/Mum/2020 (A.Y.2011-12) 7. The fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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