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Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI
Before: SHRI C.N. PRASAD, HONBLE & SHRI RAJESH KUMAR, HONBLE
Date of Hearing : 25.06.2018 Date of Pronouncement : 12.09.2018 O R D E R PER C.N. PRASAD (JM)
This appeal is filed by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals)-2, Thane dated 26.10.2016 for the Assessment Year 2011-12.
The only grievance of the Revenue in its appeal is that the Ld.CIT(A) estimated the net profit on the purchases disallowed by the Assessing Officer @14.52% & 13.70% for the Assessment Years 2010-11 &
2 ITA.NO.16/MUM/2017 (A.Y: 2011-12) Shri T.A. George Kutty 2011-12 after disallowing the purchases of ₹.5,29,058/- and ₹.12,75,236/- respectively.
Ld. DR at the outset submitted that for the Assessment Year 2010-11 the Tribunal in ITA.No. 15/MUM/2017 dated 11.10.2017 sustained the order of the Ld.CIT(A) in disallowing ₹.5,29,058/-. Ld. DR submitted that for the Assessment Year 2011-12 the Ld.CIT(A) disallowed ₹.12,75,236/-, the order for the Assessment Year 2010-11 of the Tribunal may be followed.
Inspite of issue of notice none appeared on behalf of the assessee.
We have heard the Ld. DR and perused the order of the Tribunal and find that in the Assessment Year 2010-11 the disallowance of purchases as made by the Ld.CIT(A) was sustained by the Tribunal as it is in order. Respectfully following the said decision, we uphold the order of the Ld.CIT(A) and dismiss the appeal of the Revenue.
In the result, appeal of the Revenue is dismissed.
Order pronounced in the open court on the 12th September, 2018.