2024 (1) TMI 1546

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ndent : Shri Dharamveer D. Yadav, Sr. DR. ORDER PER VIKAS AWASTHY, J.M: This appeal has been filed by the assessee against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [ in short 'the CIT(A)'] dated 02/06/2023, for the Assessment Year 2011-12. 2. The solitary issue in appeal is addition of Rs. 15,65,241/- u/s. 69C of the Income Tax Act,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....us purchases less the G.P rate declared by the assessee. He placed on record copy of the order dated 21/12/2023 common for ITA No. 2509/Mum/2023, for Assessment Year 2009- 10 and ITA No. 2510/Mum/2023, for Assessment Year 2010-11. 4. Per contra, Shri Shri Dharamveer D. Yadav representing the Department vehemently defended the impugned order. The ld. Departmental Representative submitt....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....elow. The Tribunal in first round of litigation, while deciding the appeal of assessee in ITA No. 504/Mum/2016 vide order dated 16/05/2018 restored the issue back to the file of Assessing Officer to make fresh assessment after affording opportunity of cross examination to the assessee of the concerned parties. We find that in second round of assessment consequent to the order of Tribunal, the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... purchases that has to be brought to tax [ Re. PCIT vs. Paramshakhti Distributors Pvt. Ltd. in Income Tax Appeal No. 413 of 2017 decided on 15/07/2019 by Hon'ble Bombay High Court]. We find that in appeals for the preceding Assessment Years ITA No. 2509 & 2510/Mum/2023(supra), the Co-ordinate Bench in assessee's own case has estimated suppressed profit element on bogus purchases a....