2019 (6) TMI 1381

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....rises out of the order passed by the CIT(A)-2, Aurangabad on 27-08-2018 in relation to the assessment year 2010-11. 2. The only issue raised in this appeal is against the confirmation of addition on account of hawala purchases. 3. Briefly stated, the facts of the case are that the assessee was found to have recorded purchases from hawala dealer to the tune of Rs. 76,20,165/-. On being called....

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....ad hoc addition at the rate of 10% of bogus purchases is warranted. Rather the addition should be made to the extent of difference between the gross profit rate on genuine purchases and gross profit rate of hawala purchases. Such details are not readily available with the ld. AR as well to facilitate the calculation of gross profit rates of genuine and hawala purchases. Under these circumstances, ....