TMI Blog2016 (12) TMI 1631X X X X Extracts X X X X X X X X Extracts X X X X ..... , the issue and the assessment year, i.e. AY 2009-10, in question in respect of supply of waste-paper to paper-mills of Vapi are same. Therefore, following the judgment in the case of Prakash F. Singh (2016 (12) TMI 1630 - ITAT AHMEDABAD), the order of the ld. CIT(A) is upheld and the Revenue’s appeal as well as assessee’s appeal is dismissed. Commissioner of Income-tax (Appeals) has not erred in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowance of ₹ 23,20,713/- made @ 15% of total purchase. 3. The solitary ground taken by the assessee reads as under:- On appreciation of the facts and circumstances of the case and interpretation of law, the Learned Commissioner of Income-tax (Appeals) has erred in directing the Learned Assessing Officer to adopt Net Profit at the rate of 2% of the turnover for determining the taxable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any instance of bogus or inflated purchase and has also not doubted the sales figure disclosed by the assessee. He has further given a finding that Paper Mill Association had fixed the price for purchases of waste-paper from the traders and, therefore, the scope of manipulated sales price was not established and there was no evidence to conclude that waster-paper supplier have higher gross margin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, this ground of Revenue is dismissed. Since the issue in question is same, the view adopted in the case of Prakash F. Singh may be adopted. 5. The ld. Departmental Representative is heard who supported the order of the ld. Assessing Officer. 6. We have heard the rival contentions, perused the material available on record and gone through the orders of the authorities below. In our cons ..... X X X X Extracts X X X X X X X X Extracts X X X X
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