Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI
Before: SHRI D. KARUNAKARA RAOSmt. Kiran Navin Doshi,
अऩीराथी की ओय से / Appellant by : Ms. Beena Santosh, DR प्रत्मथी की ओय से/ Respondent by : None सुनवाई की तायीख / Date of Hearing : 20.03.2017 घोषणा की तायीख /Date of Pronouncement : 12.04.2017 आदेश / O R D E R
PER D. KARUNAKARA RAO, AM:
This appeal filed by the Revenue on 5.5.2016 is against the order of the CIT (A)-40, Mumbai dated 10.02.2016 for the assessment year 2009-2010.
The only issue raised in this appeal relates to the CIT (A)’s decision in restricting the addition u/s 69C of the Act to Rs. 5,15,377/-. Briefly stated relevant facts of the case are that the AO made addition of Rs. 41,23,015/- u/s 69C of the Act on account of bogus purchases. These purchases are said to be from the parties whose names are appeared in the official website of the Sales Tax Department. Matter travelled to the first appellate authority. 3. During the proceedings before the first appellate authority, CIT (A) restricted the addition to 12.5% of the said bogus purchases. Aggrieved with the same, Revenue is in appeal before the Tribunal. 4. During the proceedings before the Tribunal, none appeared to represent the case of the assessee. However, Ld DR for the Revenue mentioned that this is a case where the CIT (A) restricted the addition to net GP of 12.5%. Ld DR relied on the order of the AO dutifully.