2017 (7) TMI 1265

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....s an appeal by the assessee wherein the assessee is aggrieved by the order of the learned CIT(A) wherein 3.34% disallowance on account of bogus purchase amounting to Rs. 9,70,076 was confirmed. 2. Brief facts of the case are as under:- 2.1 The assessee is engaged in the Business of trading Iron, Steel, Hardware, Electrical, Chemical- General Merchant and Commission Agent. The AO receiv....

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.... 13,44,125/-, Rckha Trading Co. Rs. 23,45,359/-; Leo Impex Rs. 4,01,335/-, Daksha Enterprises Rs. 4.69.498/-, Amar Enterprises Rs. 6,56,975/-, Harsh Corporation Rs. 1,80,910/-, M.R. Corporation Rs. 20,82,588/-, S.S. Enterprises Rs. 12,19,633/-, Big Trade Agency Rs. 16,81,620/-, Khushi Enterprises Rs. l,62,706/-, Samarlh Trading Company Rs. 1,87,829/-, R.J.Corporation Rs. 4,05.057/-, Mahavir Enterp....

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....modation bills from these parties. Keeping view in mind the decision of various courts mentioned in assessment order, the A.O. made addition @I2.5% on total alleged purchase amounting Rs. 2,90,44,200/- which resulted in an addition of Rs. 36,30,525/-. 2.2 Upon assessee's appeal, the learned CIT(A) confirmed the action of the Assessing Officer insofar as the finding that the purchases were....