2017 (7) TMI 1082

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.... ORDER Per RAJESH KUMAR, Accountant Member: This is an appeal filed by the revenue and is directed against the order of the Ld. CIT(A)-30, Mumbai dated 10.11.2015 pertaining to A.Y.2009-10.   2. Only ground taken by the revenue is with regard to part sustaining the net addition at 7.5% of the total bogus purchases as against the total disallowance on account of bogus purchases....

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....remark of postal authorities "not known /Left" and that the assessee failed to produce the correct addresses  of the parties.  The AO came to the conclusion that purchases made by the assessee from the hawala parties out of unaccounted money of the assessee and therefore calculated peak balance and added the same to the total income of the assessee u/s 69C of the  Act vide assessmen....