TMI Blog2020 (7) TMI 792X X X X Extracts X X X X X X X X Extracts X X X X ..... 1992 (9) TMI 1 - SUPREME COURT] . In the decision of Shorteline Hotels Pvt. Ltd. [ 2018 (9) TMI 1248 - BOMBAY HIGH COURT] considered was in context of the order passed by learned CIT(A) under section 263 of the income tax act, wherein the ITAT had upheld the order of the learned CIT, invoking his jurisdiction u/s. 263. The issue was expenditure incurred in the maintenance by a hotel. In contrast the present case is a case where the assessee is a dealer in steel and disallowance has been done by the Assessing Officer on a finding that the assessee has made purchases through grey market. In our considered opinion by no stretch of imagination it can be said that there is any similarity in the facts upon which the honourable jurisdictional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... make the disallowance in accordance with the ratio of the decision of M.Haji Adam Co. Appeal by the assessee is partly allowed. - I.T.A. No. 3552/Mum/2019 - - - Dated:- 17-7-2020 - SHRI A.D. JAIN (VP) AND SHRI SHAMIM YAHYA (AM) For the Assessee : Shri Vimal Punmiya For the Department : Shri V. Vinod Kumar ORDER Per Shamim Yahya (AM) :- This is an appeal by the assessee wherein the assessee is aggrieved by the addition of account of bogus purchase. The assessee further agitates that the learned CIT-A has erred in enhancing the disallowance on account of bogus purchases to 100% as against 12.5% disallowance done by the assessing officer pertaining to assessment year 2009-10 vide order dated 30.4.2019. 2. Br ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that purchase to sale cannot be tallied item wise 4. Against the above order assessee is in appeal before the ITAT. We have heard both the counsel and perused the records. The learned counsel of the assessee prayed that the decision of honourable jurisdictional High Court in the case of M.Haji Adam Co. (ITA no 1004 of 20016 dt. 11/2/2019) should be followed. Hence, he requested that the matter should be remitted to the file of assessing officer. 5. Per contra learned departmental representative relied upon the orders of the learned CIT appeals. He sought to distinguish the decision of honourable jurisdictional High Court in the case of M.Haji Adam Co. (supra) from the facts of the present case. 6. Upon careful consideration we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d CIT, invoking his jurisdiction u/s. 263. The issue was expenditure incurred in the maintenance by a hotel. In contrast the present case is a case where the assessee is a dealer in steel and disallowance has been done by the Assessing Officer on a finding that the assessee has made purchases through grey market. 8. In our considered opinion by no stretch of imagination it can be said that there is any similarity in the facts upon which the honourable jurisdictional High Court has rendered the above said decision and the facts of the present case. 9. Furthermore Id CIT has observed that assessee was asked to furnish stock register and item to item tally of purchase and sales. She further noted that assessee submitted that no stock reg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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