2016 (8) TMI 1519

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....the addition made on account of bogus purchase. 3. Rival contentions have been heard and record perused. As the facts and circumstances in all the years under consideration are same, as a lead cease, we shall take the appeal for the assessment year 2007-08. Facts in brief are that The assessee is a partnership firm engaged in the business of ship chandlers, general merchants and suppliers of marine stores since 1978. The firm was managed by two families namely Gilitwalas and Tehsildars. The assessee has been supplying stores products varying in the range of 1500 products useC\in the Marine Industry and major customers are PSUs namely Shipping Corporation of India Ltd. (SCI), ONGC, Mazgaon Docks Ltd and Coast Guards Region (West), which c....

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....o upheld the validity of reopening. However, after discussing the issue in great detail and applying various proposition of law to the facts of the instant case, upheld the addition of 6% of alleged bogus purchases. Against the above order of CIT(A), revenue is not in appeal before us. However, assessee has approached us for balance addition of Rs. 6% as upheld by the CIT(A). 5. We have considered rival contentions and found from record that after examining in great detail, the CIT(A) has upheld the addition of 6% on the said disputed purchases. 6. It was contended by ld. AR that all the documents were submitted in support of the disputed purchases before the AO which include partywise sales summary, product wise sales summary, par....