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TMI Blog2019 (8) TMI 1846X X X X Extracts X X X X X X X X Extracts X X X X ..... of identical set of facts and circumstances, therefore, as a matter of convenience, these appeals were heard together and are being disposed off by way of this consolidated order. 3. Brief facts are, the assessee, an individual, is carrying on business of trading in paper through his proprietorship concern Namrata Paper Agencies. For the assessment year under dispute, the assessee had filed his return of income in regular course declaring income of Rs. 8,41,990, and Rs. 6,72,160, for the assessment years 2008-09 and 2009-10 respectively. On the basis of information received from the Sales Tax Department, Government of Maharashtra and the DGIT (Inv.), Mumbai, that certain purchases shown by the assessee in these years are not genuine as the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee has made payment through cheques and there is nothing on record to show that the assessee has received back the amount in cash from the suppliers. Thus, applying the ratio laid down by the Hon'ble Jurisdictional High Court in Nikunj Eximp Enterprises vs. CIT, and the decision of Hon'ble Gujarat High Court in CIT vs. Simit P. Sheth, 356 ITR 451 (Guj.), learned Commissioner (Appeals) ultimately restricted the addition to 12.5% of non-genuine purchases in both the years. Being aggrieved with the aforesaid decision of learned Commissioner (Appeals), both the parties are in appeal before us. 6. The learned Authorised Representative reiterating the stand taken before the Departmental Authorities submitted, since the purchases m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Maharashtra, indicating that the assessee is a beneficiary of accommodation entries provided by certain hawala operators by way of bogus purchase bills. On the basis of such information available on record, the Assessing Officer has re-opened the assessments under section 147 of the Act. Thus, it is evident, on the basis of tangible material available on record, the Assessing Officer has formed belief that income chargeable to tax has escaped assessment requiring re-opening of assessment under section 147 of the Act. In view of the aforesaid, we hold that re-opening of assessment under section 147 of the Act in the facts of the present case are valid. 9. Having held so, now we propose to deal with the merits of the additions made by the As ..... X X X X Extracts X X X X X X X X Extracts X X X X
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