DY CIT CC 7 (2), MUMBAI vs. M/S MAN GLOBAL LTD., MUMBAI

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ITA 7440/MUM/2019Status: DisposedITAT Mumbai25 November 2021AY 2011-1288 pages
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What did the Tribunal hold?

The Tribunal held that while purchases were bogus, they were likely made from the grey market and used in production. Therefore, only the profit margin on such purchases, not the entire amount, could be added to the income.

What were the facts?

The Revenue challenged the deletion of additions on account of bogus purchases, while the assessee challenged the jurisdiction and merits of additions made without incriminating material. The assessee had purchased raw materials treated as bogus by the AO.

What were the issues?

Whether additions on account of bogus purchases are justified when the material was used in production and whether the entire amount or only profit margin should be added.

Which sections of the Income-tax Act were involved?

Section 153A,Section 14A

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Cases cited in this judgment(26)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

For Appellant: Shri Nirav Mehta, AR
Hearing: 15.11.2021Pronounced: 25.11.2021

Heard together (28 matters)

ITA No. 7440/Mum/2019
ITA No. 7533/Mum/2019
ITA No. 7534/Mum/2019
ITA No. 7535/Mum/2019
ITA No. 7536/Mum/2019
CO No.81/Mum/2021
CO No.82/Mum/2021
CO No.83/Mum/2021
CO No.84/Mum/2021
CO No.85/Mum/2021
ITA No. 7482/Mum/2019
ITA No. 7438/Mum/2019
ITA No. 7439/Mum/2019
ITA No. 7532/Mum/2019
CO No.86/Mum/2021
CO No.87/Mum/2021
CO No.88/Mum/2021
CO No.89/Mum/2021
ITA No. 7526/Mum/2019
CO No.90/Mum/2021
ITA No. 7527/Mum/2019
CO No.91/Mum/2021
ITA No. 7528/Mum/2019
CO No.92/Mum/2021
ITA No. 7530/Mum/2019
ITA No.7409/Mum/2019
ITA No. 7529/Mum/2019
ITA No. 7531/Mum/2019

Read from the judgment's own cause title. This page is filed under one of them.

आदेश आदेश क� आदेश आदेश क� क� �ितिलिप क� �ितिलिप �ितिलिप अ�ेिषत �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order forwarded to : अ�ेिषत अपीलाथ� / The Appellant 1. ��यथ� / The Respondent. 2. आयकर आयु�(अपील) / The CIT(A) 3. आयकर आयु� / CIT 4. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, मुंबई / DR, ITAT, Mumbai 5. गाड� फाईल / Guard file 6.

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