9911796707
TMI Blog2017 (4) TMI 1622X X X X Extracts X X X X X X X X Extracts X X X X ..... as also relied upon a visit report of Asst. Commissioner, Sanjay S. Pawar, Mumbai in respect of one concern namely Jitendra Enterprises. However, the assessee has not purchased any goods from the said concern at all. As per record, the assessee has asked for the copies of statements of the different persons upon which the AO was relying upon as well as their cross examination.This observation in AO s order clearly indicates that ground No.3 taken by revenue is not correct. We direct the AO to restrict the addition to the extent of 2.5% of such alleged purchases. Addition u/s.69A - assessee was asked to explain sources of payment towards purchase of property - after giving effect to the housing loan taken from Reliance and payment fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ietary concern, M/s. Jatin International has debited purchases of Rs. 56040379.55. During the course of assessment proceedings vide notice under section 142 (1) of Act, the assessee was called upon to file the details of purchases, TIN and name addresses of parties from whom purchases was made. In reply, the assessee filed the details of the same alongwith documentary evidences. Meanwhile, information was received by AO from the Sales Tax Department, Mumbai which is also available on the official website of Sales Tax Department, Government of Maharashtra. www.mahawat.gov.in regarding suspicious parties who are only providing accommodation entries without doing any actual business. On going through the details submitted by the assessee, AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. The AO observed that the assessee has claimed total purchases of Rs. 4,27,80,407/- from the above ten parties and the TIN number provided by the assessee in the above mentioned cases are exactly same as in the information available with the office. 5. On the basis of information of Sales Tax Department, AO found that suppliers were bogus. The AO also issued notices u/s.133(6) to these parties but the same were returned with a remark not known , accordingly AO treated entire purchase as bogus and added the same in assessee s income. However, the corresponding sale made by the assessee was not denied by the AO. The entire purchases are supported by the bills issued by the above suppliers and the same have been paid for by account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 13,80,281 0.81% 4,05,330 0.24% 2008-09 22,61,71,179 12,20,517 0.54% 4,29,221 0.19% 2009-10 24,74,98,742 6,94,327 0.28% 4,99,176 0.20% 2010-11 5,68,03,899 12,18,504 2.15% 5,66,669 1.00% 6. From the record, we also found that even in the A.Y. 2011-12, purchases from suspicious dealers were found to the tune of Rs. 3,64,41,970/-, out of which AO has disallowed 2.24% i.e., Rs. 8,16,300/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . is Rs. 50,60,060/-, including stamp duty and registration charges of Rs. 2,22,900/- Rs. 31,160/- respectively. Accordingly after giving effect to the housing loan taken from Reliance at Rs. 43,96,936/- and payment form current account amounting to Rs. 1,00,000/-, the remaining amount of Rs. 5,63,224/- was treated by AO as unexplained and added to the total income of the assessee. 11. By the impugned order, CIT(A) confirmed the addition so made by the AO. 12. Learned AR has drawn our attention to the loan sanction letter in respect of loan taken from Reliance Home Finance amounting to Rs. 47,65,000/- which was taken by the AO at Rs. 43,96,936/-. Further, the AO has overlooked the debits for obtaining pay orders for Stamp Duty and R ..... X X X X Extracts X X X X X X X X Extracts X X X X
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