2025 (7) TMI 1853

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.... For the Respondent : Sh. Dayainder Singh Sidhu, CI T-DR ORDER PER AVDHESH KUMAR MISHRA, AM This appeal of the assessee for the Assessment Year ('AY') 2021-22 is directed against the order dated 12.12.2024 of the Commissioner of Income Tax (Appeal)-30, New Delhi ['CIT(A)']. 2. The grounds of appeal are not well drafted. However, sole issue raised by the assessee emerged therefrom is th....

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....ed, the assessee filed appeal before the Ld. CIT(A), who restricted the disallowance/addition at Rs. 8,63,289/-; i.e. @ 20% of the bogus purchases of Rs. 43,16,444/- as under: - "8. The evidence, including statements of Sanjay Jain and Nikhil Sachar, and the seized Tally data, unequivocally establishes that the purchases were accommodation entries. The absence of corresponding delivery ch....

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.... rate and the inherent costs in accommodation entry operations for cement, a GP addition of 20% is more appropriate. This approach aligns with the principle that the addition must reflect a fair estimate of the profit element. In light of the above findings, the appeal is partially allowed. The addition of Rs.43,16,444/- is modified, and 20% of the disputed purchases, amounting to Rs.8,63,289/-, i....

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....e heard both parties and have considered the material available on record. The Ld. CIT(A) has applied the rate of 20% keeping in view the entire facts of the case, GST rate and the cost of accommodation entries. However, the Ld. CIT(A) has not given details in this in the impugned order. Keeping in view the facts in totality, material available on the record and in the interest of justice, we are ....