2021 (4) TMI 1398

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....t the order of Commissioner of Income Tax (Appeals)-18, Mumbai [in short 'the CIT(A)] dated 26/04/2019 for the assessment year 2011-12. 2. Shri Sanjay J. Sethi representing the department submitted that during the period relevant to assessment year under appeal, the assessee has obtained bogus purchase bills amounting to Rs. 67,11,021/- from M/s. Arun Paper & Iron Traders a declared hawala....

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....on of Hon'ble Supreme Court of India in the case of N.K. Proteins Ltd. vs DCIT, 250 Taxman 22(SC). 3. The submissions made by ld. Departmental Representative heard and orders of authorities below examined. The assessee is engaged in trading of craft paper. During the period relevant to assessment year under appeal, the assessee furnished various documents including confirmation from the supplie....