AKRUTI GEMS, MUMBAI V. ITO 32(1)(1), MUMBAI

ITA 5353/MUM/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 3334 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-11-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 17-09-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AKTHAR H ANSARI
• Keywords: Bogus purchase
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI R.C. SHARMA , ACCOUNTANT MEMBER ./ I.T.A. NO. 5353 / MUM /201 8 ( / ASSESSMENT YEAR S : 2012 - 13 ) AKRUTI GEMS 1303, A WING SONI TOWER, SIMPOLI ROAD, BORIVALI (W), MUMBAI. / VS. ITO 32(1)(1) BANDRA KURLA COMPLEX, BANDRA EAST MUMBAI. ./ ./ PAN/GIR NO. : AAMFA6914F ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : NONE / RESPONDENT BY : SHRI AKTHAR H ANSARI , DR / DATE OF HEARING 06 /11 /2019 / DATE OF PRONOUNCEMENT 13 /11 /2019 / O R D E R PER R.C. SHARMA (AM) : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) FOR THE A.Y 2012 - 13, IN THE MATTER OF ORDER PASSED U/S 143(3) R.W.S 147 OF THE IT ACT. IN THIS APPEAL THE ASSESSEE IS AGGRIEVED FOR UPHOLDING ADDITION OF 12.5% IN RESPECT OF BOGUS PURCHASES. ITA NO S . 5353 / /MUM/2018. AKRUTI GEMS , MUMBAI . - 2 - 2. NOBODY APPEARED ON BEHALF OF THE ASSESSEE NOR ANY ADJOURNMENT PETITION WAS FILED. FROM THE RECORD, I FOUND THAT EVEN ON EARLIER OCCASION , W HEN THE APPEAL WAS FIXED FOR HEARING ON 07.10.20 19 AND 09.10.2019, NOBODY APPEARED ON BEHALF OF THE ASSESSEE AND THE MATTER WAS ACCORDINGLY ADJOURNED. UNDER THESE FACTS AND CIRCUMSTANCES BENCH DECIDED TO DISPOSE THE APPEAL AFTER HEARING THE LD. DR AND CONSIDERING THE MATERIAL PLACED ON RECORD. 3. I HA VE GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOUND THAT THE ASSESSMENT WAS RE - O PENED ON FINDING THAT ASSESSEE W AS INVOLVED IN THE ENTERING INTO BOGUS PURCHASE TRANSACTION. AFTER GIVING DUE OPPORTUNITY THE A.O FOUND THAT ASSESSEE HAS TAKEN A BOG US PURCHASE BILL OF 2.50 CRORES AFTER MAKING FULL ENQUIRY THE A.O UPHE L D THE ADDITION TO THE EXTENT OF 8.16% OF NON - GENUINE PURCHASES. BY THE IMPUGNED ORDER THE CIT(A) CONFIRMED THE ACTION OF THE A.O AFTER RECORDING DETAIL ED FINDING AND CONSIDERING VARIOU S JUDICIAL PRONOUNCEMENTS. 4. I HAVE CAREFULLY GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW AND FOUND THAT A.O HAD MADE FULL ENQUIR Y AND THEREAFTER VERY REASONABLY UPHELD THE ADDITION ONLY TO THE EXTENT OF 8.16% OF NON - GENUINE PURCHASES. THE CIT(A) ITA NO S . 5353 / /MUM/2018. AKRUTI GEMS , MUMBAI . - 3 - HAS CONFIRMED THE ACTION OF THE A.O AFTER CONSIDERING VARIOUS JUDICIAL PRONOUNCEMENT ON THE ISSUE AND AFTER CONSIDERING THE DETAILED FACTS NOTED BY THE A.O. I DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER OF THE CIT(A). 5. IN THE RESULT THE APPEAL OF T HE ASSESSEE IS DISMISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON 13/ 11 /201 9 SD/ - ( R.C. SHARMA ) ACCOUNTANT MEMBER MUMBAI, DATED 13 /11 /20 1 9 KRK, PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) 4. ( ) / CONCERNED CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . / BY ORDER, //TRUE COPY// 1 . / ( ASST. REGISTRAR) , / ITAT, MUMBAI OTHER MEMBER 2 . DATE ON WHICH THE