2017 (6) TMI 1325

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..... r of CIT(A)-29, Mumbai, in appeal No. CIT(A)-29/IT-429/ITO-19(2)(4)/16-17 dated 19-01-2017. The Assessment was framed by ITO ward-19(2)(4), Mumbai for the A.Y. 201011 vide order dated 01-03-2016 u/s 143(3) read with section 147 of the Income Tax Act, 1961 (hereinafter 'the Act'). 2. The only issue in this appeal of assessee is against the order of CIT(A) confirming the action of the AO in applyin .....

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..... Investigation) Mumbai, who in turn received information from Sales Tax Department, Mumbai that the many of the suspicious dealers providing bogus invoices of purchase to various parties and providing accommodation entries in the form of issuing bogus sales/ purchase bills without supply of any goods. This fact was admitted by these suspicious dealers in their statements recorded / deposition / aff .....

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..... chase parties and proof of payment of consideration in the shape of relevant book entries from the bank statement making payment by cheque. But the assessee failed to produce these parties or when inquiry was made these parties were not found at their respective address. Now, before me, the learned counsel for the assessee only made request that the assessee's profit rate is 5% which has already b .....

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