2026 (4) TMI 1625

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... PER : S. RIFAUR RAHMAN, ACCOUNTANT MEMBER: The Revenue has filed this appeal against the order of the learned Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 23.12.2025 for the Assessment Year 2020-21. 2. Brief facts of the case are that the assessee is carrying the business of trading of scrap of Zinc & Brass metal from last 8 years. During the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... based on the detailed information received from Investigation Wing. After considering the various information available on record the Assessing Officer proceeded to disallow the purchases made by the assessee from M/s Viswanath Trading Co. u/s 37(1) of the Act and also disallowed 2% of the total purchase value of as commission to obtain the same u/s 69C of the Act. 3. Aggrieved with the above ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....as erred on facts and law in restricting the addition to 2% out of total addition of Rs. 26,48,066/ made by the Assessing Officer treating this amount as bogus purchase, by observing that the sales has not been disturbed. As per the order of the CIT(A), NFAC, it appears that of Rs. 26,48,066/ has been considered as transaction in the hands of the Assessee, Shri Mustak Ahamad, as addition of Rs. 52....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....gation wing prepared on the verification made by the bank officials after visiting the premises of Shri Vishwanath Singh, it was observed that no stock/goods or any staff were found at the time of verification at the premises of Shri Vishwanath Singh. 3. That the appellant craves leave to add or delete or alter or modify any one or more ground(s) of appeal during the appellate proceedings....