2018 (9) TMI 1982

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....ted 7th November 2017, passed by the learned Commissioner (Appeals)29, Mumbai, for the assessment year 201112. 2. Grounds no.1 to 4 are not pressed, hence, dismissed. 3. In ground no.5, the assessee has challenged addition of Rs. 1,15,990 on account of bogus purchases. 4. Brief facts are, the assessee, a partnership firm, is a dealer in ferrous and nonferrous metals. For the assessment year und....

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....mmodation bill provided by the said party. He, therefore, called upon the assessee to prove the genuineness of purchases made from the said party. Though, the assessee claimed the purchases to be genuine by producing the purchase invoice, ledger account copy and bank statement, however, the Assessing Officer was not convinced with the submission of the assessee. Accordingly, he treated the purchas....

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....n if the profit element on the alleged bogus purchases is estimated at 12.5% but the VAT amount paid by the assessee should be reduced from such profit. 7. The learned Departmental Representative relied upon the decision of the learned Commissioner (Appeals). 8. Having considered rival submissions, I am of the view that the assessee should get the benefit of VAT paid on the purchases held to be ....