2023 (10) TMI 1020

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....e appeals preferred by the assessee against the order of Learned Commissioner of Income-tax (Appeals)-NFAC, Delhi [hereinafter referred to Ld. 'CIT(A)'] dated 18.07.2023 & 21.06.2023 for the Assessment Years (in short 'AY') 2013-14 & 2014-15, respectively. First, we take ITA No. 828/KOL/2023 for AY 2014-15. 2. The issue raised in ground no. 3 is against the confirmation of addition of Rs. 1,32,87....

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....ssessee furnished before the AO from time to time details/evidences as called for by the AO. However, the AO, by relying on the report of the investigation wing to the effect directors of M/s. Gajgamini Sales Pvt. Ltd. and M/s. Raipur Trading Pvt. Ltd. having admitted to be involved in providing accommodation entries, treated the purchases made from these entities as bogus and called upon the asse....

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....ed a gross profit rate of 7.99% on the purchases thereby making an addition Rs. 1,32,877/- to the income of the assessee u/s 69C of the Act in the assessment framed. 4. In the appellate proceedings, Ld. CIT(A) simply confirmed the order of the AO on the same reasoning without considering the contentions and arguments of the assessee. 5. After hearing the rival contentions and perusing the materi....