2018 (12) TMI 1446

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....the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-16, Mumbai dated 30.10.2017and it relates to A.Y. 2010-11. 2. The issue in dispute in the present appeal is restricted to addition of Rs. 3,35,062/- on account of non-genuine purchases. 3. Brief facts of the case are that the assessee, a company, is engaged in fabrication, engineering and trading in aluminium ....

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....s, the assessee could produce a few documentary evidences like purchase bills, bank statement showing payment towards purchases made, etc. However, the assessee neither could furnish transport details and delivery challans to prove the actual delivery of goods nor the assessee could produce concerned parties before the AO. Since, the notices issued under section 133(6) of the Act by the AO to the ....

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....sallowed but the profit element embedded in such purchases can be considered for addition. Accordingly, he directed the AO to restrict the disallowance to 12.5% of the purchases made from the hawala operators. 4. When the appeal was called for hearing no one was present for the assessee in spite of notice of hearing issued through registered post. In view of the aforesaid, I proceed to dispose of....