2024 (8) TMI 489

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....e present appeal has been filed by the Revenue challenging the impugned order dated 05/03/2024 passed under section 250 of the Income Tax Act, 1961 ("the Act") by the learned Addl./Joint Commissioner of Income Tax (Appeals), Thiruvanantpuram, ["learned Addl./Joint CIT(A)"], for the assessment year 2009-10. 2. In this appeal, the Revenue has raised the following grounds: - 1. "On the facts and i....

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....2024. 4. The appellant craves leave to amend or alter or add a new ground which may be necessary." 3. The only grievance of the Revenue, in the present appeal, is against restricting the disallowance on account of bogus purchases to the gross profit rate declared by the assessee. 4. The brief facts of the case pertaining to this issue, as emanating from the record, are: The assessee is an indi....

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.... to why the aforesaid transaction should not be taken as non-genuine and accordingly disallowed. Barring the ledger account and cheque payments, no other documents such as lorry receipts, transportation details, etc., were produced by the assessee during the assessment proceedings. Further, it was also noted that the Sales Tax Department has found that the concerns from whom the assessee has avail....

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.... considered 12.5% of the total amount of INR 60,60,302, which comes to INR 7,57,537, as unproved/non-genuine purchases, and added the same to the total income of the assessee. 5. The learned Addl./Joint CIT(A), vide impugned order, by following the decision rendered in assessee's own case by the coordinate bench of the Tribunal restricted the disallowance to 12.5% of the bogus purchases as reduce....