TMI Blog2018 (6) TMI 1799X X X X Extracts X X X X X X X X Extracts X X X X ..... 013 (9) TMI 198 - ITAT AHMEDABAD] we think it fit to modify the order passed by the Ld. CIT(A) by disallowing 5% from 12.5% as made. Appeal of assessee is partly allowed. - I.T.A. No.593/Ahd/2016 And CO No.57/Ahd/2016 - - - Dated:- 18-6-2018 - SHRI PRAMOD KUMAR ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER For the Appellant : Shri V.K. Singh, Sr.DR For the Respondent : Shri Vartik Chokshi, AR ORDER PER Ms. MADHUMITA ROY - JM: The instant appeal and the Cross Objection preferred by the Revenue and the Assessee respectively are against the order passed by the Commissioner of Income Tax (Appeals)-10, Ahmedabad [Ld. CIT(A) in short] dated 07/01/2016 for Assessment Year (AY) 2011-12 arising out of the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e banks the Ld. CIT(A) has agreed as regards the existence of those parties. The Ld. CIT(A) further observed that the disallowance made by the AO of 57.35% as bogus purchase out of total building material of ₹ 2.85 crores purchased by the assessee during the period commencing from 01.04.2009 to 31.03.2014 is impractical since the income from sale of constructed flats has not been controverted by the AO which was supported by Certificate of Engineer. In effect, the AO disallowed 100% of purchase made from the parties on doubtful identity. However, the Ld. CIT(A) considering some of the parties have not filed return of income, some of them were not available at the given address, thought it reasonable to restrict disallowance of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the basis of the content of the remand report, other evidences and specially on the bank statement of the suppliers which was, in fact, obtained by the AO himself and we thus declined to interfere with the same. The appeal preferred by the Revenue on this ground is dismissed. 5.1. In respect of the cross objection of the assessee, we have also gone through the order passed by the Ld. Tribunal in the matter of Gujarat Ambuja Exports Ltd.(supra) as relied upon by the Ld.AR. The reason for disallowance of only 5% out of total purchase has been justified in the following manner by the Co-ordinate Bench of this Tribunal. Having considered all the judgments cited by both sides, we feel that in the facts of the present case, some token disa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The relevant ground of the revenue is rejected and that of the assessee is partly allowed. 5.2 We find that the facts of the case in hand is identical to that of the assessee dealt in the aforesaid judgement and therefore, the case of the assessee is squarely covered by the aforesaid decision. Taking into consideration the entire aspects of the matter and the ratio of the judgement, we think it fit to modify the order passed by the Ld. CIT(A) by disallowing 5% from 12.5% as made by him in effect ₹ 8,16,362/- out of the total purchase. 6. In the result, the appeal of the Revenue is dismissed and Cross Objection filed by the assessee is partly allowed. This Order pronounced in Open Court on 18/ 06/2018 - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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