2019 (3) TMI 1025

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....is is an appeal by the assessee wherein the assessee is aggrieved that the learned Commissioner of Income Tax (Appeals)-52, Mumbai ('ld.CIT(A) for short) dated 04.01.2018 has erred in sustaining 12.5% disallowance on account of bogus purchases amounting to Rs. 6,20,220/- for the assessment year (A.Y. 2009-10). 2. Brief facts of the case are that the assessee is engaged in the business of tradin....

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.... Steel & Alloys (Rs.6,05,090/-), M/s Malani Metal (India) (Rs.6,88,183/-), M/s Shree Yamuna Impex (Rs.4,20,498/-), M/s Padmavati Stoei & Alloys (Rs.1,85,120/-), M/s Hindustan Steel Impex (Rs.9,27,564/-) and Adhunik Steel Corporation (Rs .3,10,400/-) totally aggregating to Rs. 49,61,764/-, the assessment of the assessee was reopened by issue of notice u/s. 148. 3. To ascertain the genuineness of....

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....T(A) confirmed the same. 5. Against the above order, the assessee is in appeal before the ITAT. 6. We have heard both the counsel and perused the records. In support of his case, learned counsel of the assessee has placed reliance upon the decision of Hon'ble Gujarat High Court in the case of Pr CIT vs. T R Kapadia (in Tax Appeal no 691 of 2017). In this case, the Hon'ble High Court has conf....

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....onal High Court decision in the case of Nikunj Eximp Enterprises (in writ petition no 2860, order dt. 18.6.2014). In this case, the Hon'ble High Court has upheld 100% allowance for the purchases said to be bogus when sales are not doubted. However, in that case all the supplies were to the government agency. In the present case, the facts of the case indicate that assessee has made purchase from t....