2025 (4) TMI 1080

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..... he aforesaid appeal has been filed by the Revenue against order dated 10/10/2024 passed by NFAC, Delhi for the quantum of assessment passed u/s.143(3) r.w.s. 147 for the A.Y.2011-12. 2. In the grounds of appeal Revenue has challenged the order of the ld. CIT(A) relating to bogus purchase of Rs.16,17,386/- which was added by the ld. AO and thereby, applying GP rate of 12.5%. 3. From the perusal o .....

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..... idhi Associates 682537   Total 1617386 4. In response to the show-cause notice assessee had submitted the details of purchases and the payment made through account payee cheques etc., However, the ld. AO rejected the same on the basis of information on the website of the Sales Tax department of Maharashtra that these parties were found to be hawala dealers and treated the entire bogus pu .....

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..... pplying GP rate of 12.5% on alleged bogus purchases, however, ld. AO has added the entire bogus purchases in the proceedings u/s.154 while computing book profit. The Tribunal had deleted the said addition on book profit stating that it is beyond the scope of u/s.115JB. In any case, application of GP rate on bogus purchases has now been upheld by the Hon'ble Bombay High Court in the case of Mohamma .....

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