2021 (7) TMI 41

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.... to attend the hearing nor any application for adjournment was filed. Therefore, we are deciding the issue after hearing the Ld. D.R. on merits. 3. First we would like to decide the issue raised by the revenue in the ground no. 2. The issue in ground No.2 is against the order of Ld. CIT(A) quashing the order passed under section 154 of the Act as passed by the AO to rectify the mistake which has crept in the order framed under section 143(3) read with section 147 of the Act. 4. The facts in brief are that the assessment u/s.143(3) r.w.s. 147 of the IT Act was framed on 25.03.2015 determining the total income at Rs. 29,00,555/- after making an addition of Rs. 6,70,531/- being @12.5% on alleged bogus purchases of Rs. 53,64,255/-. The AO on ....

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....the Id. Assessing Officer on 22/04/2014 along with copy of computation of income filed u/s. 139, Acknowledgement of filing Return of Income, Annual Accounts for year ended 31.03.2009 and Tax Audit Report for AY 09-10. The Assessing Officer was informed to treat the original return of income filed u/s. 139 as return filed in response to Notice u/s.148. The case was discussed and the Order u/s. 143(3) r.w.s 147 of the Act was issued on 25/03/2015 wherein following additions were made: Issue Amount (in Rs) 12.5% addition on alleged bogus purchases 6,70,531/- Total 6,70,53V- 4.1.2 However, the assessee filed an appeal before the Hon'ble CIT(A) on 24.04.2015 against the order issued by the Assessing Officer in regards to 12.5% disall....