TMI Blog2013 (9) TMI 1235X X X X Extracts X X X X X X X X Extracts X X X X ..... Appeal No. 801 of 2013 is arising out of the impugned common judgment and order passed by the learned ITAT dated 4.1.2013 passed in ITA No.3147/Ahd/2008 (assessee appeal) and ITA No.3248/Ahd/2008 ( revenue appeal) with respect to assessment year 200506, by which, the learned Tribunal has partly allowed the appeal preferred by the assessee and dismissed the appeal preferred by the revenue. 2.1. Tax Appeal No. 803 of 2013 preferred by the revenue is arising out of the impugned common judgment and order passed by the learned ITAT dated 4.1.2013 passed in ITA No.3273/Ahd/2009 (assessee appeal) and ITA No.3460/Ahd/2009 ( revenue appeal) with respect to assessment year 200607, by which, the learned Tribunal has partly allowed the appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on account of purchases from M/s. R.R. Patel Trading Corporation and consequently confirmed the addition of ₹ 11,91,458/being 30% purchases and total purchases from M/s. R.R. Patel Trading Corporation. The learned CIT(A) also deleted addition of ₹ 2,74,000/. 3.2. Feeling aggrieved and dissatisfied with the order passed by the learned CIT(A) both the assessee and the revenue preferred appeals before the learned CIT(A). The assessee preferred appeal against the order passed by the learned CIT(A) confirming the addition of ₹ 11,91,458/and revenue preferred cross appeals against the order passed by the learned CIT(A) confirming the addition to the extent of ₹ 11,91,458/only and deleting the rest of the additio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the course of assessment, it was found that the assessee made the bogus bills to the tune of ₹ 39,75,571/from one M/s. R.R. Patel Trading Corporation and payment of ₹ 2,74,000/made to M/s. R.R. Patel Trading Corporation by way of issuing cheque. Therefore, Assessing Officer treated an amount of ₹ 9,83,580/as bogus purchases and the amount to be paid to M/s. R.R. Patel Trading Corporation as unexplained money and while passing the assessment order, the Assessing Officer made the addition of aforesaid amount of ₹ 9,83,580/to the total income of the assessee. 4.1. Feeling aggrieved and dissatisfied with the order of assessment passed by the Assessing Officer, the assessee preferred appeal before the learned C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n account of proven bogus purchases to be @20% without assigning any basis? 5.0. Heard Shri K.M. Parikh, learned advocate appearing on behalf of the revenue. It appears that on appreciation of evidence and in exercise of discretion vested in it, the learned ITAT has reduced the addition to the extent of 20% of the purchases booked in the name of R.R. Patel Trading Corporation. It is required to be noted that so far as the Assessing Officer is concerned, while passing the assessment order the Assessing Officer added the entire amount of the purchases booked in the name of R.R. Patel Trading Corporation and considered the same as the income of the assessee. However, in appeal, CIT(A) reduced the addition to the extent of 30% of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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