2017 (6) TMI 435

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....en Gupta, Ld. DR ORDER Per Manoj Kumar Aggarwal (Accountant Member) 1. The captioned appeals by assessee for Assessment Years [AY] 2009-10 & 2011-12 assails the common order of Ld. Commissioner of Income tax (Appeals)-24 [CIT(A)], Mumbai dated 29/05/2015 qua confirmation of certain additions with respect to bogus purchases. Since, common issue is involved in both the appeals and the same ....

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....n the basis of information received from the investigation wing of the Income Tax Department that the assessee has obtained bogus purchase bills amounting to Rs. 39,18,195/- from various parties who were listed as Hawala bill providers. In support of his claim, the assessee filed copies of invoices and ledger extracts of the alleged bogus suppliers. However, not convinced, AO treated the purchases....

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....the revenue, the purchase thereof could not be treated as bogus. Further, the accounts of the assessee were duly audited u/s 44AB and the assessee was in possession of purchase invoices and all payments were through banking channels and therefore, the deletion deserves to the deleted. The Ld. AR, placing on record copy of quantitative reconciliation, further contended that the assessee purchased C....

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....he impugned purchases particularly when the assessee was in possession of invoices, payments were though banking channels, quantitative details were available on record and sales turnover were not doubted by the revenue. The Tribunal, invariably, in all such cases, have taken a stand that even if presuming that all purchases were bogus, entire addition thereof was not warranted for particularly wh....