TMI Blog2022 (12) TMI 1160X X X X Extracts X X X X X X X X Extracts X X X X ..... uld be considered for disallowance. Accordingly, we direct Assessing Officer to disallow @ 3.5% of the alleged bogus purchases. Appeal filed by the assessee is partly allowed. - ITA No. 766/MUM/2022 - - - Dated:- 28-11-2022 - SHRI ABY T. VARKEY , HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN , HON'BLE ACCOUNTANT MEMBER Assessee Represented by : Shri Mahaveer Jain Revenue Represented by : Smt. Mahita Nair ORDER Per S. Rifaur Rahman, AM 1. This appeal is filed by the assessee against order of Learned Commissioner of Income Tax (Appeals), Pune - 11 [hereinafter in short Ld. CIT(A) ] dated 25.02.2022 for the A.Y. 2011-12. 2. Assessee has raised following grounds in its appeal:- 1. On the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowed and not the entire purchases. Reliance is placed on the decision of the Hon'ble High Court of Bombay in the case of the Principal Commissioner of Income Tax-17 Vs. M/s. Mohommad Haji Adam Co. 2019 (2) TMI 1632 . 6. On the facts and circumstances of the case and in law, Ld. CIT(A) erred in confirming the action of the A.O. in treating the loose papers found in the business premises of the appellant firm as cash book for the period 01.03.2011 to 31.03.2011. 7. On the facts and circumstances of the case and in law, Ld. CIT(A) erred in confirming addition of Rs. 2,52,077/- on account of cessation of liability. 8. On the facts and circumstances of the case and in law, Ld. CIT(A) erred in confirming the addition of R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the learned counsel of the assessee before the Ld. CIT(A). But the same issue is agitated before us. This issue is setting aside to the Ld. CIT(A) for further adjudication. The learned counsel of the assessee filed a detailed document and ledger account to substantiate its claim related Ground No.-2 2.1. The assessee is directed to submit those details before the Ld. CIT(A) in support of the claim. The assessee should get a reasonable opportunity for redressal of his grievance. Related to disallowance of purchase in ground Nos. 3 4, the purchase was made for the financial year 2008-09 and sale was also made in same year. The learned counsel of the assessee submitted catena of judgment. Moreover, no such any specific finding in the order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Purchase parties before the undersigned along with various details, Name Address of Purchaser, VAT number, copy of return of income, Copy of Sales Tax Return, Copy of the Purchase Order, Details of Octroi, Details of mode of transport etc., to prove the genuineness of the creditors/Purchasers appearing in the books of accounts vide Show cause dated 04.03.13, the relevant portion of which is reproduced as under: On perusal of the return of income submitted for AY 2005-06 to AY 2011-12, it was noted that you have furnished the list of Sundry Creditors. Accordingly letters were issued to these Sundry Creditors for furnishing of information u/s. 133(6). However the letters were returned un-served as per the list enclosed herewith. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Coral Trading Co 27060224373V 91,58,325 3 Darshana Corporation 27020257763V 1,78,32,343 4 Gautarn Traders 27710403514V 14,87/200 5 Nisha Enterprises 27940256772V 56,64,464 6 Pra.ka.sh Enterprises 27840097650V 74,61,220 7 Raj Traders 27450262425V 95,80,729 8 M/s Marco Enterprises ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ification was made by the revenue authorities. The Ld. DR also did not make any strong objection against the assessee. The stock was exhausted by the assessee during the year through sales. The Ld. Counsel relied on the following judgments which are as follows:- 1. Nirmitee Constructions Designs Pvt. Ltd. Vs. ACIT 2017(9) TMI 717-ITAT Mumbai. 2. M/s. Lotus Construction vs. JCIT-32(2), Mumbai 2018 TMI 1749-ITAT Mumbai. 3. Commissioner of Income-tax-I vs. Simit P. Sheth- 2013 (10) TMI 1028-Gujarat High Court. 4. M/s. Excel Reality N Infra Ltd. Vs. DCIT-9(2)(2), Mumbai (Vice-Versa) 2021 (10) TMI 948-ITAT Mumbai. 5. Shri Pravin C. Bokadia vs. ITO-Circle 19(2)(5)-ITA No. 3552/Mum/2019 6. Shri Praveen Singh Chandan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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