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TMI Blog2024 (10) TMI 1476X X X X Extracts X X X X X X X X Extracts X X X X ..... B.R. BASKARAN, A.M : The assessee has filed this appeal challenging the order dated 15-12-2023 passed by Ld CIT(A), NFAC, Delhi and it relates to the assessment year 2012-13. The assessee is aggrieved by the decision of Ld CIT(A) in confirming the addition of Gross profit on alleged bogus purchases. 2. The original assessment of AY 2012-13 was completed by the AO in the hands of the assessee on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l income. The Ld CIT(A) also confirmed the same. 3. The Ld A.R submitted that the assessee has furnished all details relating to the purchases made from the above said party. The assessee had purchased Aluminium products from the above said party. It furnished the Stock register showing receipt and sale of materials. He submitted that the AO has merely placed reliance on the report given by the i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing officer has only estimated the profit from the alleged bogus purchases @ 12.50%, meaning thereby, the AO did not doubt the receipt and sale of materials. It is the contention of the assessee that it has furnished the details relating to purchases, payments made to the supplier, confirmation from the supplier and also the details of sale of products to various persons. The relevant stock r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 05-2018), wherein the Hon'ble upheld the deletion of addition relating to alleged bogus purchases with the following observations:- "3. It can thus be seen that the appellate authority as well as the Tribunal came to the concurrent conclusion that the purchases already made by the assessee from Raj Impex were duly supported by bills and payments were made by Account Payee cheque. Raj Impex also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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