TaxTMI 
TaxTMI 
2021 (2) TMI 1128
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.... Advocate & Sh. Sharad Agarwal, Adv. ORDER PER H.S. SIDHU, JM: This appeal filed by the Revenue against the Order of Ld. CIT(A)-24, New Delhi for Assessment Year 2011-12 dated 23.09.2016 on the following grounds:- 1. The order of Ld. CITA() is not correct in law and on facts. 2. On the facts and circumstances of the case, the CIT(A) has erred in deleting the addition of Rs. 2,06,42,177/- ma....
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....012-13) vide order dated 24.12.2020. He further stated that the Judicial Member was the Author of this order. He further stated that in the said case the gross profit rate of assessee was @9.25% and the Bench has directed the Assessing Officer to retain the addition @9.25% of the bogus purchases. He requested that the same direction may be issued in the present case of the assessee also. To suppor....
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....Ld. AR that in the case of bogus purchases, if they are not written off or reduced from the closing stock then, necessarily in the sale price the same is included and therefore, only gross profit on the same can be added. We find that the above arguments also supported by relying on 356 ITR 451 in the case of CIT vs. Simit P. Sheth of the Hon'ble Gujarat High Court as well as the several judicial ....
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....ssee as well as order dated 24.12.2020 of the Tribunal as reproduced above, we are of the considered view that this Bench has decided the exactly similar issue in the case of M/s Becon Constructions Pvt. Ltd. vs. ACIT in ITA No. 5034/Del/22016 (AY 2012-13), hence, we are of the view that Assessing Officer should retain the addition @ 9.25% of Rs. 2,06,42,177/- which comes to Rs. 19,09,401/- and ba....