2023 (7) TMI 748

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....e Respondent : Sh. Vivek Kumar Upadhyay, SR DR ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-27, New Delhi dated 25.09.2018 pertaining to A.Y. 2010-11. 2. The grievance of the assessee read as under : 1. That on the facts and circumstances of the case and in law, the order passed by CIT (A)-27, New Delhi (hereinafter ref....

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....hat on the facts and circumstances of the case and in law the CIT(A) was not justified in sustaining the addition made by AO on account of alleged bogus purchase from M/s Kothari Impex and M/s Khushi Gems Pvt Ltd . 5. That on the facts and circumstances of the case and in law, the CIT (A) was not justified and has erred in sustaining addition of Rs 2,78,435/- on the presumption that commi....

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.... Wing the AO came to the conclusion that there was no actual business of trading in diamonds carried out by Khushi Gem and Kothari Impex but these concerns were indulged in paper transactions only giving accommodation entries by issuing sale bills without affecting any sales. 5. The AO completed the assessment by treating the purchases made from Kothari Impex and Khushi Gem Pvt. Ltd. as bogus p....

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.... the appeal of Vinod Karsanbhai Patel who happens to be a Director of the assessee company and in that case also purchases were made which have been treated as bogus purchases and the coordinate Bench has made the addition only of gross profit. 10. Per contra the DR strongly supported the findings of the AO but could not bring any distinguishing decision in favour of the revenue. 11. We have....