TMI Blog2021 (10) TMI 261X X X X Extracts X X X X X X X X Extracts X X X X ..... the nature of business of the assessee and the fact that the assessee is making some local purchases without any transportation bills, lorry receipts etc, the possibility of making purchases in gray market on cash cannot be ruled out. Thus following the decision of the Hon'ble Gujarat High Court in the case of CIT v. Simit P. Seth[ 2013 (10) TMI 1028 - GUJARAT HIGH COURT] I direct the Assessi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was processed u/s. 143(1) of the Act. Subsequently, Assessing Officer received information from the DGIT(Inv.,), Mumbai about the accommodation entries provided by various dealers and assessee was also one of the beneficiary from those dealers. The assessment was reopened U/s. 147 of the Act based on the information received from DGIT (Inv.,), Mumbai, that the assessee has availed accommodation e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urned back with remark Not Known . Therefore, Assessing Officer treated purchases of ₹ 2,10,222/- as non-genuine and added to the income of the assessee. On appeal the Ld.CIT(A) sustained the addition made by the Assessing Officer. Against this order of the Ld.CIT(A) assessee is in appeal. 4. Inspite of issue of notice none appeared on behalf of the assessee nor any adjournment was sough ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of CIT v. Simit P. Seth [356 ITR 451]. Simply because the parties were not produced the entire purchases cannot be added as held by the Bombay High Court in the case of CIT v. Nikunj Eximp [216 Taxman.com 171]. However, at the same time keeping in view the nature of business of the assessee and the fact that the assessee is making some local purchases without any transportation bills, lorry ..... X X X X Extracts X X X X X X X X Extracts X X X X
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