9911796707
TMI Blog2024 (7) TMI 1285X X X X Extracts X X X X X X X X Extracts X X X X ..... JAUHRI [A.M.] :- These appeals are filed by the assessee against the consolidated order of the Learned Commissioner of Income-tax (Appeals), Mumbai-30 /National faceless Appeal Centre, Delhi [hereinafter referred to as "CIT(A)"] dated 25.06.2018 passed u/s. 250 of the Income-tax Act, 1961 [hereinafter referred to as "Act"] for Assessment Years [A.Y.] 2010-11 & 2011-12. 2. Appeals have been file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led despite the fact that appeal fee of 10,000/- was paid on 07.03.2020 i.e. a fortnight before the onset of Covid. The assessee has furnished proof of deposit of Rs. 10,000/- as fee for appeal and also message received regarding condolence meeting of Shri Navratnamal Ji Surana CA in support of his contentions. 3. In view of the facts submitted by the Ld. AR, we hereby condone the delay in filing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act. Subsequently, information was received from the DGIT Investigation Wing, Mumbai about a scam unearthed by Sales Tax Department regarding issue of hawala bills/accommodation entries by several parties in Mumbai. The assessee allegedly made purchases of Rs. 1,04,34,421/- from the some of the non-existent parties detected by the sales tax department. Accordingly, based on this information, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such bogus purchases is reasonable or not. 8. The assessee is engaged in trading in Ferrous and Non-ferrous Metals. Since, the assessee failed to discharge onus of proving the genuineness of the transactions in question, the AO has rightly proceeded to make the addition of profit element embedded in the total bogus purchases. Considering the nature of business of the assessee and other relevant f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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