2021 (7) TMI 1465

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..... propriate to restore this issue back to the file of AO to decided the same afresh in line with the decision of Mohommad Haji Adam Co. [ 2019 (2) TMI 1632 - BOMBAY HIGH COURT] . Needless to say that the Assessing Officer shall grant reasonable opportunity of hearing to the assessee before re-adjudicating the issue in accordance with law. Appeal by the assessee is partly allowed for statistical purp .....

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..... rofit margin of 8% on bogus purchases and made addition of Rs. 1,90,247/-. Against the assessment order dated 28/07/2016 the assessee filed appeal before the CIT(A). The CIT(A) rejected the contentions of assessee and confirmed the addition made by Assessing Officer. Hence, the present appeal by assessee. 4. Ms. Smita Verma representing the Department submitted that the assessee is one of the bene .....

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..... l Representative heard, orders of authorities below examined. The assessee has allegedly obtained bogus purchase bills from M/s. Prime Star a firm belonging to Bhanwarlal Jain Group. Undisputedly, the assessee failed to discharge its onus in conclusively proving genuineness of alleged bogus purchases. However, at the same time the Assessing Officer has accepted the sales turnover declared by the a .....

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