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TMI Blog2024 (5) TMI 1082X X X X Extracts X X X X X X X X Extracts X X X X ..... rd and disposed off together. It would have been duty of the Registry to tag the cross appeals and fixed them together for hearing. However, in this case as the issue is already decided by the co-ordinate Bench that assessee should have been earned the excess gross profit of only 1.58%, the appeal of the Revenue becomes infractuous. Accordingly, we dismiss the same. - Shri Prashant Maharishi, AM And Shri Sunil Kumar Singh, JM For the Assessee : Shri Bhupendra Shah, AR For the Revenue : Smt. Mahita Nair, DR ORDER PER PRASHANT MAHARISHI, AM: 01. ITA No. 3699/Mum/2023, is filed by the Income Tax Officer, Ward 19(1)(1), Mumbai, (the learned Assessing Officer) against the appellate order passed by the National Faceless Appeal Centre, Delhi [th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oviding the accommodation entry only with no real business? 3. Whether on the facts and circumstances of the case and in law, Ld. CIT(A) is right in presuming that purchases have been made during the year from the unknown parties, whereas bills have been received from Hawala dealer? 4. Whether on the facts and in the circumstances of the case and in law, Ld. CIT(A) was right in in applying 3 years Gross Profit @ 16.45% as against the 100% addition made u/s 68 of the Income-Tax Act, 1961, by the Assessing Officer on account of Bogus Purchases of Rs. 4,22,34,640/-without appreciating the fact the assessee could neither produce the delivery, challans or the transport bills/invoices nor could produce the alleged parties from whom purchases was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h February, 2019, wherein the total income of the assessee is assessed at ₹ 4,31,32,170/-. The addition of ₹ 4,22,34,640/-, was made to the total income of the assessee on account of accommodation bills for purchase of ₹ 4,22,34,640/- allegedly obtained by the assessee from M/s Mayank which is an entity operated by accommodation entry provider Mr. Rajendra Jain group. This is the issue for which the assessment was reopened and consequent addition of bogus purchases at the rate of 100% was made. 04. The assessee challenged the same before the learned CIT (A), who as per the appellate order dated 17th August, 2023, has partly allowed the appeal of the assessee by determining the amount of profit involved in the bogus purchas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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