2023 (3) TMI 1500

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.... 2. Since, the issues raised in both the appeals germinate from same set of facts and identical grounds (except for amounts) are raised by the assessee, these appeals are taken up together for adjudication and are decided by this common order. 3. For the sake of convenience, the facts are narrated from appeal for assessment year 2010-11 in ITA No. 112/Mum/2023. 4. Shri Tejas Shah appearing on behalf of the assessee submitted that the assessee is engaged in the business of trading in ferrous and non-ferrous metals. The assessee had filed his original return of income declaring total income of Rs. 2,98,850/- on 18/09/2010. The return of the assessee was processed u/s. 143(1) of the Income Tax Act, 1961 [ in short 'the Act' ]. The assess....

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....IT(A). The assessee has failed to discharge his onus in proving genuineness of the purchases made from suspicious dealers. The assessee has obtained accommodation entries from declared hawala operators. The CIT(A) has been quite considerate in restricting the disallowance @12.5% on unproved purchases. The ld. Departmental Representative prayed for upholding the findings of the CIT(A). 6. Both sides heard, orders of the authorities below examined. Undisputedly, the assessee failed to furnish documentary evidence to prove genuineness of unproved purchases made from alleged hawala entry providers. In fact, the assessee has neither appeared before the Assessing Officer nor the CIT(A) to discharge his onus in proving genuineness of the suspic....