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2019 (10) TMI 384

..... he postal authorities with the remarks “not known”. The assessee failed to produce the parties before the AO for examination. Though the assessee was not able to produce the above parties before the AO for examination, it is a fact on record that the AO has not doubted the sales. Thus it is logical that without corresponding purchases, the assessee could not have made the sales. Such being the facts, the case of the present assessee is distinguishable from the case laws relied on by the Ld. DR. Considering the entirety of facts and circumstances of the case, we find that the Ld. CIT(A) has rightly restricted the disallowance to the peak of purchases of ₹ 31,50,000/- taken as an alternate ground by the assessee. Thus we con .....

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..... de in the Assessment order may kindly be restored as the Hon'ble Supreme Court in the case of N.K. Proteins Ltd. Vs DCIT has upheld the Hon'ble Gujarat High Court order which held that 'addition on the basis of undisclosed income could not be restricted to certain percentage when the entire transaction was found as bogus'. 3. Briefly stated, the facts are that the assessee filed his return of income for the assessment year (AY) 2011-12 on 30.09.2011 declaring total income of ₹ 5,07,610/-. The assessee is engaged in trading in computer system, assembled systems and peripherals etc. in the name and style of his proprietary concern M/s Infocom Technologies/S.N. Enterprises. During the course of assessment proceedings, the .....

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..... ales are genuine. Relying on the statements and findings of the Sales Tax Department, Government of Maharashtra coupled with the fact that the notices issued by him u/s 133(6) to the said two parties were returned un-served by the postal authorities, the AO made an addition of ₹ 85,08,600/- u/s 69C of the Act. 4. Aggrieved by the order of the AO, the assessee filed an appeal before the Ld. CIT(A). In the order dated 31.01.2018, the Ld. CIT(A) held as under : 4.7 Assessee in its submission before the AO vide letter dated 07.03.2014 at point (g) submitted that without prejudice to his arguments that his gross profit is 1.66% addition at GP of 9% may be made as additional income. However, the appellant has taken an alternate ground as un .....

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..... ourt ITA No. 220/2019 & CM No. 10774/2019 dated 08.03.2019, Pr. CIT (Central)-1 v. NRA Iron & Steel Pvt. Ltd. Civil Appeal No. of 2019 (Arising out of SLP (Civil No. 29855 of 2018) Supreme Court recent decision dated 05th March 2019, Pr. CIT-6, New Delhi v. NDR Promoters Pvt. Ltd. ITA 49/2018 of Hon ble Delhi High Court dated 17.01.2019 and Jansampark Advertising & Marketing Pvt. Ltd. (2015) 231 Taxman384 (Delhi). Relying on the above decisions, the Ld. DR submits that the addition of ₹ 85,08,600/- by the AO be confirmed. 6. We have heard the Ld. DR and perused the relevant materials on record. In the instant case the notices issued by the AO u/s 133(6) were returned un-served by the postal authorities with the remarks not .....

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