9911796707
TMI Blog2025 (4) TMI 1559X X X X Extracts X X X X X X X X Extracts X X X X ..... DR.) ORDER PER ANIKESH BANERJEE (JM): The instant appeal of the revenue was filed against the order of the Ld. Commissioner of Income-tax (Appeals) / Addl / JCIT(A)-2, Siliguri, [in short, 'Ld.CIT(A)']passed under section 250 of the Income-tax Act, 1961 (in short, 'the Act')for A.Y. 2008-09, date of order 20/01/2025. The impugned order was emanated from the order of the Ld. Income-tax Officer- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase was selected for scrutiny, and the assessment was completed under section 143(3) of the Act. Thereafter, notice under section 148 of the Act was issued based on information received from the Investigation Wing of the Income Tax Department regarding alleged bogus purchase transactions undertaken by the assessee during the relevant assessment year. The assessee is engaged in the business of trad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ying upon the said decision, the Ld. CIT(A) applied a gross profit rate of 0.2% on the bogus purchase amount of Rs. 2,69,78,490/-, which resulted in a revised addition of Rs. 53,957/-. Consequently, the assessee was granted a relief of Rs. 2,99,461/-, and the addition was sustained only to the extent of Rs. 53,957/-. Being aggrieved by the relief granted, the Revenue has preferred the present app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... serve the interest of justice in the instant case because facts and circumstances of both the years are almost identical. Even otherwise, if the quantum of GP of 1.31% which was applied for making addition during scrutiny assessment is left alone, it would give rise to double calculation of GP on the quantum of bogus purchases. It is therefore found quite rational to follow the spirit of the judg ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
