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TMI Blog2024 (3) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed?". (ii) "Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in not confirming the addition made on account of bogus purchase @ 100% of total bogus purchase ignoring the fact that during the search proceeding in the case of Rajendra Jain Group, it was held that the parties declared as hawala traders were involved in providing accommodation entry of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee 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 (Investigation), Mumbai that the assessee is a beneficiary of accommodation entries by way of bogus purchases from the entities, which are controlled by Rajendra Jain Gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee. 5. In the appeal before the learned CIT(A), the assessee challenged the addition made by the AO. However, the assessee failed to respond to various notices issued by the learned CIT(A). The learned CIT(A), vide ex-parte order, granted partial relief to the assessee and directed the AO to restrict the disallowance to gross profit ratio of the genuine purchases, following the decision o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment years 2011-12 and 2014-15, the Tribunal vide order dated 28/06/2019, following the aforesaid decision of Hon'ble jurisdictional High Court, directed the AO to restrict the addition as regards the bogus purchases by bringing the gross profit rate on such bogus purchases at the same rate as that of the other genuine purchases. Thus, in view of the above, we find no infirmity in the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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