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2020 (4) TMI 488 - ITAT MUMBAIBogus purchases - hawala purchases - CIT-A confirming addition of 12.5% - HELD THAT:- After reopening assessment, AO made detailed enquiry by issue of notice to the suppliers and found that assessee has taken accommodation bill of the purchases - considering the reply filed by AO, AO only added profit element in such alleged bogus purchases which works out at 12.5%. CIT(A) has observed that before the AO, assessee himself has conceded for addition of 12.5% of hawala purchases, therefore, assessee should not have any grievance at all to file appeal before him. CIT(A) has considered various judicial pronouncements on the issue and after applying the same to the facts of the case, confirmed the addition to the extent of 12.5% of the alleged bogus purchases. Nothing was placed before us so as to persuade us to deviate from the findings of the CIT(A). Accordingly, we do not find any reason to interfere in the order of CIT(A) for upholding addition of 12.5% of alleged bogus purchases. - Decided against assessee.
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