2016 (7) TMI 1507

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....inst the order of CIT(A)-Mumbai, for the assessment year 2011-2012. 2. In this appeal the assessee is aggrieved for addition sustained by CIT(A) with respect to the bogus purchases. 3. I have considered rival contentions and found that on the basis of information from the sales tax department the AO made an addition of Rs. 31,36,444/- on account of bogus purchases. 4. By the impugned orde....

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....see have not been disturbed nor books of accounts have been rejected. The GP rate disclosed by the assessee in the assessment year 2009-2010 was 4.73%, wherein assessment year 2010-11 was 3.72. However, there is increase of 33% in the sales amount during the year under consideration. The sales has increased from 16.62 crores to 21.83 crores during the year. Increase in sales reduces the net profit....