2020 (9) TMI 1329

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....see : Shri Madhur Agarwal. For the Department : Shri Kumar Padmapani Bora. ORDER PER C.N. PRASAD (JM) 1. These two appeals are filed by the assessee against different orders of the Learned Commissioner of Income Tax (Appeals) -10, Mumbai [hereinafter in short "Ld. CIT(A)"] for the A.Y. 2011-12 & A.Y. 2012-13. 2. The only issue in these appeals is in respect of confirming the disallo....

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....Y. 2008-09, A.Y : 2009-10 and A.Y. 2010-11. Ld. Counsel for the assessee requested that the earlier order of the Tribunal may be followed. 4. Ld. DR vehemently supported the orders of the authorities below. 5. We have heard the rival submissions, perused the orders of the authorities below. Identical issue has come up in assessee's own case for the Assessment Years A.Y. 2008-09, A.Y: 2009-10....

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....ses said to be bogus when sales are not doubted. However in that case all the supplies were to government agency. In the present case the facts of the case indicate that assessee has made purchase from the grey market. Making purchases through the grey market gives the assessee savings on account of non-payment of tax and others at the expense of the exchequer. As regards the quantification of the....

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.... other genuine purchases. Needless to add the assessee should be granted adequate opportunity of being heard." 6. Following the same, we restore the issue in these appeals to the file of the Assessing Officer with a direction to apply the Gross Profit rate as shown by the assessee in respect of genuine purchases for the alleged bogus purchases after providing adequate opportunity of being heard....