INCOME TAX OFFICER, WARD 26(2)(3), MUMBAI vs. MUBARAK HUSSAIN SHAIKH, MUMBAI

Rival contentions have been heard and record perused. Facts in brief are that the assessee is engaged in manufacturing of washers etc.. the A.O. got information from Sales Tax Department regarding the assessee taking bogus purchase bills. After reopening the assessment,

ITO Vs Shri Mubarak Hussain Shaikh the A.O. estimated profit @ 25% on the alleged bogus purchases and added the same in assessee’s income. By the impugned order, the ld. CIT(A) has restricted the addition to the extent of 12.5%.

The ld AR of the assessee placed on record the order of the Tribunal in assessee’s own case for the immediate preceding year 2010- 11 dated 23/05/2018 wherein the Tribunal have restricted the addition to the extent of 10%. It was the request of the ld AR that the facts and circumstances during the year under consideration are same as was decided by the Tribunal in A.Y. 2010-11. However, in this case, the assessee has not filed any appeal against the order of the ld. CIT(A) restricting addition to the extent of 12.5%, accordingly, I cannot give any further relief by reducing the G.P. below 12.5%. Accordingly, I uphold the order passed by the ld. CIT(A).

In the result, appeal of the revenue is dismissed.