TMI Blog2017 (7) TMI 423X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee was only 6.09% which is much lower than the GP shown in the earlier year. However, no reasons were assigned for decline of GP during the year under consideration. Thus we restrict the addition to the extent of 5% of the bogus purchase so as to fulfill the leakage in revenue - Decided partly in favour of revenue. - ITA No. 5685/Mum/2014 - - - Dated:- 6-2-2017 - Shri R.C.Sharma, AM And Shri Ravish Sood, JM Revenue by : Shri A. Ramachandran Assessee by : Shri B.V.Jhaveri ORDER Per R. C. Sharma ( A. M ) This is an appeal filed by the revenue against the order of CIT(A)-35 dated 30.06.2014 for the assessment year 2010-11 in the matter of order passed u/s.143(3) of the IT Act wherein Revenue is aggrieved for d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowing the said purchases is on the basis of list 'published by the Sales Tax Department and on the basis' that the notices u/s.133(6) were returned unserved and thirdly, on the ground that the assessee was not able to produce the purchasers for verification even though he was given the opportunity to do so. The appellant on the other hand. Has submitted all the details of the purchase bills, the source of payment through bank account and the factum of the sales being made on the' basis of said purchases which has not been disputed by the AO. .The appellant has 'submitted therefore,' that these purchases cannot be doubted and treated as bogus. Keeping in mind the facts of the present case. where the appellant has duly d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,61,77,677/-. 7. We have considered rival contentions and carefully gone through the orders of the authorities below. We had also deliberated on the judicial pronouncements referred by lower authorities in their respective orders and found that AO has made addition in respect of bogus purchases and found that notices issued to all these bogus suppliers u/s.133 (6) were returned undelivered by postal authorities and assessee also failed to produce the parties before the AO. However, the CIT(A) has not dealt with this observation of AO and without controverting AO s finding deleted entire addition made on account of bogus purchases. 8. From the record, we found that assessee had shown GP in the A.Y.2008-09 at 7.53% and in A.Y.2009-10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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