IN INCOME TAX APPELLATE TRIBUNAL C , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI PAWAN SINGH, JM Stay Application Nos.309 TO 311/Mum/2016 (Arising out of ITA No s.4040 to 4042/Mum/2016) (Assessment Years :2008-09 to 2010-11) M/S CJEX BIOCHEM PVT.LTD. Vs. ACIT-9(2)(2), Mumbai 415, Daulat Bhavan, 407, Kalbadevi Road, Mumbai 400002 .PAN/GIR No. : AACCC4524C (Appellant) .. ( Respondent) Assessee by : Shri. S.L.Jain, Revenue by : Shri Pradeep Shoury Arya Date of Hearing : 23/09/2016 Date of Pronouncement 23/09/2016 ORDER PER R.C.SHARMA (A.M): These Stay Applications arose in respect of ITA Nos. 4040, 4041 & 4042 /MUM/2016 filed with tribunal on 14/06/2016 for Assessment Year 2008-2009, 2009-2010 and 2010-2011. 2. Stay was sought on ground that CIT(A) has wrongly upheld addition of 12.5% profit in respect of alleged purchases on which assessee had already declared profit at 12.5%. Our attention was also invited to gross profit shown by Assessee in all years under consideration which is more than 12.5%. Our attention was also invited on following decisions of tribunal, wherein addition made on account of purchase was deleted after observing that assessee has sufficient GP on alleged purchases. 2 S.A No.309-311/2016 a. ACIT vs. Ramila Prvin Shah ITAT Mumbai D Bench Before B.R.Baskaran (AM) and Sanjay Garg(JM) ITA No. 5246/Mum/2013 Assessment Year :2010-11. Decide on : 5th March, 2015. b. DCIT 25(3) BKP v/s Raeev Kalanthi ITA No. 6277/Mum/2012 A.Y.2009-10 c. ITA No. 5427/MUM/2015 (Assessment Yer:2009-10) M/s. Imperial Imp & Exp. Building No.3, 10th Floor, Block No. 30, Navjeevan Society, Lamington Road, Mumbai 400 008. 3. On other hand learned DR opposed said applications. 4. We have gone through stay applications as well as orders of lower authorities and found that addition has been made by AO on account of alleged bogus purchases. CIT(A) has upheld addition by estimating GP @12.5% on these purchases but ignoring fact that assessee had already disclosed GP of 12.5% on all its purchases during years under consideration. Once assessee has declared GP on entire purchases including alleged purchases @ 12.5%, no separate addition is warranted unless it is proved that assessee had earned extra profit on sale of these purchases. Decisions of Tribunal cited above also supports case of assessee. However, without going much on merits of case, we fix case for hearing on 17/10/2016. Department is directed not to press for demand till disposal of appeal or for period of six months, whichever is earlier. We direct accordingly. 5. In result, stay applications of assessee are allowed. Order pronounced in open court on this 23/03/2016. Sd/- Sd/- (PAWAN SINGH) (R.C.SHARMA) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 23/09/2016 pkm, . PS 3 S.A No.309-311/2016 /Copy of Order forwarded to : 1. Appellant 2. Respondent. 3. CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai BY ORDER, 6. Guard file. //True Copy// (Asstt. Registrar) , ITAT, Mumbai M/s. CJEXBiochem Pvt. Ltd. v. ACIT-9(2)(2), Mumbai