9911796707
TMI Blog2024 (12) TMI 1519X X X X Extracts X X X X X X X X Extracts X X X X ..... ds of appeal, however, the Assessee's Representative argued that an identical assessment order came to be passed u/s 143(3) of the Act for Assessment Years 2008-09 and 2014- 15 in the case of Kamal Trading Company which were upheld by the Ld. CIT(A) and the orders of the CIT(A) was subject to challenge before the Tribunal in ITA No. 3400/Del/2023 (A.Y 2008-09) and 3402/Del/2023 (A.Y 2014-15) and the Co-ordinate Bench of the Tribunal has deleted the addition on its merit, therefore, relying on the order of the Co-ordinate Bench dated 24/10/2024, sought for allowing the above captioned Appeals. 3. Per contra, the Ld. Departmental Representative relied on the orders of the Lower Authorities and sought for dismissal of the appeal filed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ale/purchase as discussed. In view of the discussion above I am satisfied that the books are not reliable and are hereby rejected u/s 145(3) of the Act, therefore, I hold the purchases/sale claimed to have been made by M/s Kamal Trading Company amounting to Rs. 54,14,14,119/- as bogus. The assessee has adopted GP rate of 0.24% in this year, therefore, applying the said GP rate of 0.24%, an addition of Rs. 12,86,416/- (541414119 x 0.24% is made to the total income of the assessee. The assessee had not disclosed this income suo-moto and without the search operation, this income would not have been unearthed had there been no search on the premises of the assessee. Hence, I am satisfied that the assessee has concealed income or filed inaccurat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the basis of statement recorded without giving assessee to cross examine the same. In support of his contention learned counsel also placed reliance on following judgments: - ITAT Delhi in the case of Mis. Maple Destinations And Dreambuild Pvt. Ltd. Versus DCIT, Circle - 16 (1), New Delhi, 2024 (3) TMI 1071, dated:21-3-2024 - ITAT Delhi in the case of M/S. Rswn Ltd. Versus DCIT, Central Circle-31, New Delhi, 2024 (2) TMI 278, dated: 31-1-2024 - ITAT Delhi in the case of Divya Exim Pvt. Ltd. C/O. Kapil Goel, Adv., Renu Jain C/O. Kapil Goel, Adv., Nisha Jain C/O.Kapil Goel, Adv. Versus DCIT Central Circle 25 New Delhi 2024 (1) TMI 750, dated:-15-1-2024 9.5 On the other hand, learned DR supported the orders of authorities belo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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