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TMI Blog2024 (7) TMI 1285X X X X Extracts X X X X X X X X Extracts X X X X ..... onouncements, we deem it reasonable to estimate the profit @5% of the total non-genuine purchases. Addition to the extent of 5% which works out is sustained. Thus, appeal of the assessee is partly allowed. - Shri Narender Kumar Choudhry, Judicial Member And Smt. Renu Jauhri, Accountant Member For the Appellant : Mr. Nikhil Joshi For the Respondent : Shri Nagnath Pasale ORDER PER RENU JAUHRI [A.M.] :- These appeals are filed by the assessee against the consolidated order of the Learned Commissioner of Income-tax (Appeals), Mumbai-30 /National faceless Appeal Centre, Delhi [hereinafter referred to as CIT(A) ] dated 25.06.2018 passed u/s. 250 of the Income-tax Act, 1961 [hereinafter referred to as Act ] for Assessment Years [A.Y.] 2010-11 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has raised following ground of appeal for AY 2010-11: 1. The Ld. Commissioner of Income-tax (Appeals) (hereinafter referred to as Ld.CIT(A) ] has erred in upholding the order of the Ld. Assessing Officer and disallowing the purchase to the extent of 12.5% of Rs. 1,04,34,421/- amounting to Rs. 13,04,303/- on account of purchase from non-genuine purchase parties. 6. Brief facts for AY 2010-11 are as under: a. Return declaring income of Rs. 3,67,899/- was filed on 29.09.2010 and was processed u/s 143(1) of the Act. Subsequently, information was received from the DGIT Investigation Wing, Mumbai about a scam unearthed by Sales Tax Department regarding issue of hawala bills/accommodation entries by several parties in Mumbai. The assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 1,04,34,421/-. Thus, the addition to the extent of 5% which works out 5,21,721/- is sustained. Thus, appeal of the assessee is partly allowed. ITA No. 4591/Mum/2023 for AY 2011-12 9. The assessee has raised following ground of appeal for AY 2011-12: a. The Ld. Commissioner of Income-tax (Appeals) [hereinafter referred to as Ld.CIT(A) ] has erred in upholding the order of the Ld. Assessing Officer and disallowing the purchase to the extent of 12.5% of Rs. 1,23,04,442 /- amounting to Rs. 15,38,055/- on account of purchase from non-genuine purchase parties. 10. There is no change in the facts in AY 2011-12. In this year, the AO has made addition of Rs. 15,48,055/- @ 12.5% of the total non-genuine purchases of Rs. 1,23,04,442/. As discussed a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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