9911796707
TMI Blog2024 (6) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... addition @ 6% of bogus purchases. Since the issue herein is same therefore, following decision and to maintain consistency, we confirm the addition @ 6% of bogus purchases. Hence, we partly allow the appeal of the assessee. - Shri Pawan Singh, Judicial Member And Shri Bijayananda Pruseth, Accountant Member For the Appellant : Ms Himali Mistry, CA For the Respondent : Shri Vinod Kumar, Sr. DR OR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be sales without purchases. 3. The appellant craves leave to add, alter or vary any of the grounds of appeal. 3. The facts of the case in brief are that the assessee engaged in the business of import, export, trading in all kinds of diamonds in the name of M/s Prarthana Gems. The assessee filed its return of income for AY. 2014-15 declaring total income of Rs. Nil on 24.09.2014. The case wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... concern is nothing but accommodation entry. Hence, the accommodation entry received from totalling to the tune of Rs. 1,31,21,120/- was treated as bogus purchases and added to the total income of the assessee. Penalty proceedings u/s 271(1)(c) of the Act was also initiated by the Assessing Officer. 4. Aggrieved by the order of Assessing Officer, the assessee went in appeal before the Ld. CIT(A). T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts, therefore, assessee has discharged his onus to prove the genuineness of the purchases. Besides, the assessee`s sales were not doubted by the Assessing Officer; hence, entire addition made by the Assessing Officer should be deleted. The assessee s case is related to Bhanwarlal Jain Group cases and the ITAT, Surat has been consistently taking decision to sustain the addition at the rate of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 27.09.2021 wherein the Tribunal has sustained the addition @ 6% of bogus purchases. Since the issue is squarely covered by the decision of Pankaj K. Choudhary (supra) and since there is no change in facts; therefore, following decision and to maintain consistency, we confirm the addition @ 6% of bogus purchases. Hence, we partly allow the appeal of the assessee. 9. In the result, appeal of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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