2017 (6) TMI 1293

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....e present appeal has been preferred by the assessee against the order dated 10.01.2017 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2009-10. 2. The only effective ground is relating to addition of Rs. 19,27,910/- on account of bogus purchases. The short facts of the case are as under: The assessee is in the business of trading i....

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.... Shiv Industries 16,63,854/- 15. Rupani & Co. 17,54,429/- 3. The AO wanted to verify the genuineness of purchases from the above parties. The AO has received the information from the office of DIT(E), Mumbai and from the Sales Tax Department, Mumbai regarding suspicious parties who are only providing accommodation entries without doing actual business. Therefore, assessee was aske....

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....rtly allowed the same. 5. During the course of hearing, the assessee did not remain present. Therefore, matter is decided on the evidence on record. I find that the Ld. CIT(A) has passed the order considering all the documents and all the facts which he narrated in paras 5 & 5.1 in his order which read as under: 5. The second addition is where the AO has not added the whole purchases b....

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....ons. 5.1 The appellant has substantially made the same argument which it is made in respect of the bogus purchases which have been discussed as above in this addi tion. The appel lant has rather argued that i f the sales were to be enhanced by these amounts the GP rate would be in such realm which is impossible in this line of trade. While agreeing with what the appellant has said it can ....