2017 (10) TMI 523

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dition of Rs. 71,58,777/- for A.Y.2009-10 and Rs. 81,64,848/- for A.Y.2011-12. The additions were made upon information received that assessee was obtaining bogus purchase bills. AO has made his own enquiries as well. No response was given to the enquiries. Upon assessee's appeal, learned CIT-A confirmed the finding of the AO that purchases are bogus, however, he granted substantial relief by observing as under. For A.Y. 2009-10, learned CIT-A has held as under:- By booking alleged bogus purchases, as compared to the A.Y. 2007-08, the appellant has suppressed its profit by Rs. 8,10,8347- ( 87,56,313x 9.26%). In compliance, the Ld. AR could not offer any valid reasons for fall in the GP rate. Considering the facts in entirety / t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ested by the Ld. AR and balance amount of Rs. 68,15,027/- (Rs 81,64,849/- Less Rs. 13,49,822/-), is hereby deleted. 3. Against the above order of learned CIT(A) revenue and assessee are in cross appeal. 4. We have heard both the counsel and perused the records. 5. We find that in this case overwhelming evidence have been brought on record that the concerned purchase are bogus. Cogent information has been received from the Maharashtra sales tax Department that the suppliers have admitted that they were supplying bogus bills. The assessing officer also has also made enquiries. No response to his notices came from the suppliers, Learned CIT-A in his appellate order has also found that the purchases are bogus. 6. Up on careful consi....