TaxTMI 
TaxTMI 
2023 (1) TMI 19
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....For the Department : Shri Toufel Tahir, Sr. D. R.; ORDER PER SAKTIJIT DEY , J. M. : 1. This is an appeal by the assessee against the order dated 1.08.2019 of learned Commissioner of Income Tax (Appeals)-10 [hereinafter referred to as CIT (Appeals)] New Delhi, for assessment year 2010-11. 2. Grounds raised by the assessee are as under:- "1. That having regard to the facts and circumstances of....
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....nfirming the action of Ld. AO in framing the impugned reassessment order u/s 143(3)/147, is bad in law and against the facts and circumstances of the case; 3. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in making aggregate addition of Rs.41,83,821/- u/s 69C on account of purchases made from parties men....
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....ever, at the time of hearing, Dr. Rakesh Gupta, ld. Counsel appearing for the assessee submitted that he will be arguing only on the merits of the addition of Rs.41,83,821/- made under section 69C of the Income Tax Act, 1961 (the Act) and not on other grounds. Accordingly, all other grounds except ground Nos. 3 & 4, are dismissed as not pressed. 4. As far as issue regarding ground Nos. 3 & 4 is c....
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.... (Appeals) however, he was un-successful. 5. Before me, learned Counsel appearing for the assessee submitted that in assessee's own case in some other assessment years, in respect of purchases made from some of the very same parties, the Assessing Officer had adopted profit rate of 5% and restricted the disallowance to that extent. He submitted, adopting similar approach disallowance can be restr....