2021 (5) TMI 625

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....jay Kumar Menon, DR ORDER PER PAVAN KUMAR GADALE: The assessee has filed these appeals against the separate orders of Commissioner of Income Tax (Appeals)- 2, Pune for the Assessment Year (AY) 2009-10 passed u/s 144 r.w.s. 147 and 250 of the Income Tax Act and for the AY 2010-11 passed u/s 144 and 250 of the Income Tax Act. 2. At the time of hearing, none appeared on behalf of the asse....

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....he material on record. Since, boththe appeals have common and identical issues, they are clubbed and heard together and consolidated order is passed 3. For the sake of convenience. We shall take up ITA No. 203/Mum/2018 for AY 2009-10 and facts narrated therein. The assessee has only challenged the action of LdCIT(A) confirming addition of Rs. 6,04,182/-made on account of hawala Purchases. ....

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....ade the Best judgment assessment u/s 144 of the Act. Considering the facts and circumstances that the assessee has not produced evidence of genuineness of purchase transactions, hence made an addition of bogus purchases of Rs. 6,04,182 and assessed the total income of Rs. 15,61,082/- and passed order u/s 144 r.w.s. 147 of the Act dated 31.03.2014. 5. Aggrieved by the order, the assessee has fil....

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....ayment of tax. We considering the facts and circumstances and the series of Hon'ble Tribunal decisions in the similar cases and the precedence, where the income estimated @ 12.5% of the bogus purchase transaction were accepted. Accordingly, we restrict the addition to the extent of 12.5% of the bogus purchases and modify the Ld.CIT(A) order sustaining the addition to the extent of 12.5% and partly....