9911796707
TMI Blog2024 (3) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... the impugned order passed by the learned CIT(A) granting partial relief to the assessee - Decided against revenue. - Shri Br Baskaran, Accountant Member And Shri Sandeep Singh Karhail, Judicial Member For the Assessee : None For the Revenue : Shri Manoj Kumar Singh ORDER PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been filed by the Revenue challenging the impugned order dated 16/05/2023 passed under section 250 of the Income Tax Act, 1961 ( the Act ) by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [ learned CIT(A) ], for the assessment year 2012-13. 2. When this appeal was called for hearing neither anyone appeared on behalf of the assessee nor was any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the parties, in spite of opportunity provided by the Assessing Officer. (iv) Whether on the facts and in circumstances of the case and in law, the Ld. CIT(A) has erred in restricting the addition even after acknowledging that appellant made cash purchase indicating the suspicious nature of transactions . (V) The appellant craves leave to amend to alter any grounds or add a new ground which may be necessary? 4. The brief facts of the case are that for the year under consideration, the assessee filed its return of income on 31/10/2012 declaring a total income of INR 32,21,510. The return filed by the assessee was processed under section 143(1) of the Act. Subsequently, on the basis of information received from DGIT (In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is in appeal before us. 6. We have considered the submissions of the learned DR and perused the material available on record. In the present case, the AO as well as the learned CIT(A) both came to the conclusion that the impugned purchases are bogus in nature. The AO made the addition of the entire bogus purchases of Rs. 9,88,30,860, while the learned CIT(A) restricted the addition to the gross profit ratio of the genuine purchases, following the decision of Hon ble jurisdictional High Court in Mohommad Haji Adam Co. (supra). We find that while deciding similar issue in assessee s own case in Smaru Gems v/s ITO, in ITAs No. 3622 and 3633/Mum./2018, for the assessment years 2011-12 and 2014-15, the Tribunal vide order dated 28/06/2019 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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