JCIT)OSD), CENTRAL CIRCLE-5(1), MUMBAI vs. HICON CONSTRUCTION , MUMBAI

In this appeal, the revenue is aggrieved by the order of the ld. CIT(A) for restricting addition on account of bogus purchases to the extent of 25% which was made by the A.O. at 100%.

JCIT(OSD) Vs M/s Hicons Construction 3. We have gone through the orders of the authorities below and found that the assessee is builder and developer. On getting information from the Sales Tax Department to the effect that the assessee has taken bogus purchase bills. The A.O. reopened the assessment and added 100% in assessee’s income. By the impugned order, the ld. CIT(A) has dealt with the issue threadbare and after considering all the facts and circumstances of the case and various judicial pronouncements restricted the addition to the extent of 25% of such bogus purchases. Nothing was pointed out by the ld DR so as to persuade us to deviate from the findings of the ld. CIT(A), accordingly we do not find any reason to interfere in the order of the ld. CIT(A) for restricting addition to the extent of 25% of bogus purchases keeping in view the facts and circumstances of the case. Hence, we uphold the same.

In the result, appeal of the revenue is dismissed.