TMI Blog2021 (2) TMI 355X X X X Extracts X X X X X X X X Extracts X X X X ..... id not disallow the entire purchase but has restricted the disallowance to 15% of the alleged non-genuine purchases indicates that the Assessing Officer also believes that the assessee had purchased the goods, though, may not be from the declared source. Therefore, he has proceeded to add the profit element embedded in such purchases. Considering the nature of business carried on by the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9-10. 2. When the appeal was called for hearing, no one was present on behalf of the respondent assessee to represent the case. There is no application seeking adjournment either. Considering the nature of dispute, I proceed to dispose off the appeal ex-parte qua the assessee after hearing the learned Departmental Representative and on the basis of material available on record. 3. The disput ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are non-genuine as the concerned parties were identified as hawala operators, the Assessing Officer re-opened the assessment under section 147 of the Act. During the assessment proceedings, the Assessing Officer called upon the assessee to prove the genuineness of such purchases through supporting evidence. Further, to independently verify the genuineness of such purchases, the Assessing Officer i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed Departmental Representative and perused the material on record. It is evident, the doubt regarding the genuineness of the disputed purchases was on the basis of information received from the Sales Tax Department, Government of Maharashtra. However, the Assessing Officer has accepted the fact that the assessee has produced some supporting evidence to prove the genuineness of purchases. The only ..... X X X X Extracts X X X X X X X X Extracts X X X X
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