2017 (12) TMI 1071

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....E R Per Manoj Kumar Aggarwal (Accountant Member) 1. The captioned appeal by revenue for Assessment Year [AY] 2010- 11 assails the order of Ld. Commissioner of Income tax (Appeals)-35 [CIT(A)], Mumbai dated 16/01/2014 qua restricting certain addition of bogus purchases to the extent of 15% as against full disallowance thereof of Rs. 1,94,89,015/- made by AO. 2. Briefly stated, the assessee....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ee parties at the given address and two of parties did not respond to the said notice, despite being served with notice. The assessee, in support of his claims, furnished invoice copies, ledger extract and bank statements and contended that the purchases were genuine. However, after perusing the statement recorded by the Sales Tax Department from the representative of alleged bogus supplier, AO re....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....genuine. Reliance was placed on various judicial pronouncements. Finally, Ld. CIT(A) after considering the factual matrix of the case and perusal of various judicial pronouncement, estimated the impugned additions to 15% of total purchases which came to Rs. 29,23,352/- as against Rs. 1,94,89,015/- made by the AO. 4. Aggrieved by the stand of Ld. CIT(A), the revenue is in appeal before us. The L....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... before AO, the purchases made by assessee could not be doubted. Further, the magnitude of project work undertaken by assessee could not have been possible without actual consumption of material. 5. We have heard the rival contentions and perused the relevant material on record. After analyzing the various contentions of respective representatives coupled with observation / findings of Ld. CIT(....