2021 (2) TMI 1128

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....) Assessee by: Sh. Shashwat Bajpai, 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) ....

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.... Ltd. vs. ACIT, Central Circle-8, New Delhi in ITA No. 5034/Del/2016 (AY 2012-13) 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 d....

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....20 is reproduced as under:- "4.1 Coming to the alternative arguments of the 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 ....

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....mstances of the present case and the arguments advanced by the Ld. Counsel for the assessee 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....