2016 (5) TMI 1275

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....see is directed against the order dated 19.3.2013 passed by learned CIT(A)-26, Mumbai and it relates to A.Y. 2009-10. 2. The assessee is aggrieved by the decision of learned CIT(A) in partially confirming the addition made u/s. 68 of the Act and also confirming the addition made u/s. 40(a)(ia) of the Act. 3. We have heard the parties and perused the record. The assessee is engaged in the bus....

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....t of balance outstanding in the name of Ascent Enterprises, learned CIT(A) confirmed the same, since the its name appeared in the list of hawala operators prepared by the Sales Tax Department. 5. Before us, the Ld A.R submitted that the assessee has sold the goods and the same is not possible without making corresponding purchases. He further submitted that the assessee has purchased goods from....

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....pment P Ltd (ITA No.4065/Mum/2014 dated 1.1.2016) (d) ITO Vs. Shri Rajkumar Agarwal (ITA No.5233/Mum/2013 dated 10.4.2015) (e) Ramesh Kumar & Co. Vs. ACIT (ITA No.2959/Mum/2014 dated 28.11.2014) 6. On the contrary, the Ld D.R strongly supported the order passed by Ld CIT(A). 7. We have heard the parties and perused the record. In the instant case, the assessing officer has ....

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....s have been accepted by the AO. The addition towards bogus purchases cannot also be sustained, since parts of the purchases have been accepted and further no enquiry has been conducted to prove the bogus nature of purchases. Accordingly, we set aside the order of Ld CIT(A) and direct the AO to delete this addition. 7. The next issue relates to the addition made u/s 40(a)(ia) of the Act. The Ld ....