TMI Blog2017 (7) TMI 1265X X X X Extracts X X X X X X X X Extracts X X X X ..... 00% of the bogus purchases will held to be added in the hands of the assessee and tribunals restriction of the addition to 25% of the bogus purchases was set aside. The Special Leave Petition against this order along with others has been dismissed by the Hon’ble Apex Court. Despite the above precedence, find that this is not an appeal by the Revenue and assessee cannot be denied the benefit alr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h 22 parties totaling to ₹ 2,90,44,200/-. The assessment was reopened by the A.O. after recording reasons for reopening and notice u/s. 148 was issued which was duly served on the assessee. During the assessment proceedings, the A.O. issued notice u/s 142(1) to the appellant requiring him to produce details of purchases and supporting evidences made from these 22 parties. The appellant is al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ises ₹ 12,09,865/- Shivam Trading Co. ₹ 12,81,458/- totaling to ₹ 2,90,44.200/-. To verify the genuineness of transaction the A.O. issued notice u/s 133(6) to all parties which was returned back as unserved by the postal authorities. The assessee remain failed to produce the parties before the A.O. to verify claim of purchase made from them. The assessee produced only the copy of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, he disallowed only 3.34% of the bogus purchases. Thus disallowance of ₹ 9,70,076 was confirmed against the total addition of ₹ 36,30,525. 2.3 Against this order, assessee has filed appeal before the ITAT. 3. I have heard both the learned Counsel and perused the records. 4. Up on careful consideration of the facts of the case, I find that overwhelming evidence have been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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