2018 (12) TMI 1995

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....ORDER PER SAKTIJIT DEY, J.M. This appeal by the assessee is against order dated 09.01.2018 of the learned Commissioner of Income Tax (Appeals)-41, Mumbai for the Assessment Year 2009-10. 2. The only issue arising for consideration in this appeal relates to addition made of Rs. 12,95,407 on account of bogus purchases. 3. Briefly the facts are, the assessee, an individual, is engaged in ....

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....Officer, the assessee was unable to furnish any authentic evidence to prove the genuineness of purchases. Further, the notices issued under section 133 (6) of the Act also returned unserved due to unavailability of the parties in the given addresses. In view of the aforesaid facts, the assessing officer proceeded to estimate the profit at the rate of 10% of the bogus purchases, which worked out to....

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....l on record. As could be seen from the facts on record, in course of proceedings before the departmental authorities the assessee could not prove the genuineness of purchases claimed to have been made from the parties who have been identified as hawala operators by the Sales Tax Department, Government of Maharashtra. However, the Assessing Officer has not disbelieved the fact that purchases were m....