2018 (2) TMI 1749

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....as been filed by the assessee against the order of the CIT(A)-44, Mumbai dated 12.06.2015 for A.Y. 2011-12. 2. The issue raised in this appeal is against confirmation of Rs. 3,20,060/- being 8% of alleged bogus purchases as against 100% addition of bogus purchases made by the AO of Rs. 40,00,753/-. 3. The assessee is in the business of builder and developer. During the course of assessment proce....

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....the appellate proceedings the learned CIT(A) partly allowed the appeal of the assessee by sustaining the addition equal to 8% of the total bogus purchase which works out to Rs. 3,20,060/- by relying on the decision of the Hon'ble Gujarat High Court in the case of CIT vs. Simit P. Sheth 38 taxmann.com 385 wherein the Hon'ble High Court has held that where the sale is accepted by the AO then....