2018 (12) TMI 1861

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....KTIJIT DEY, J. Aforesaid appeals by the assessee are directed against two separate orders, both dated 04.01.2018, of learned Commissioner of Income Tax (Appeals)-53, Mumbai, pertaining to Assessment Years 2009-10 and 2010-11. 2. The only common issue arising for consideration in both the appeals relate to addition made on account of bogus purchases. 3. Briefly the facts are, the assessee,....

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....is of information received from the DGIT (Investigation), Mumbai as well as Sales-tax Department, Government of Maharashtra that purchases worth Rs. 22,57,631 in assessment year 2009-10 and Rs. 78,49,678 in assessment years 2010-11 are not genuine as they were made from concerns / parties who have been identified as hawala operators by the Sales tax Department, Govt. of Maharashtra, the assessing ....

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....sessee and proceeded to estimate the profit at the rate of 12.5% of the bogus purchases in both the assessment years under appeal. This resulted in addition of Rs. 2,82,204 in assessment year 2009-10 and Rs. 9,81,210 in assessment year 2010-11. Being aggrieved with the aforesaid additions, though, the assessee preferred appeals before the learned Commissioner (Appeals), however, he also sustained ....

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....rs are not genuine. It is also evident, the assessee could not conclusively prove that the purchases claimed to have been made from the declared source are genuine. However, the departmental authorities have not disputed the sales effected by the assessee, meaning thereby, the assessee might have purchased the goods from some unknown parties/source. For this reason alone the assessing officer has ....