Bholanath Polyfab (P) Ltd., (2013) 355 ITR 290 (Guj.); Nikunj Eximp Enterprises Pvt. Ltd. v. CIT

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER OF INCOME TAX, OF INCOME TAX, (2012) 346 I OF INCOME TAX, OF INCOME TAX, (2012) 346 I (2012) 346 ITR 78, (Bom) (2012) 346 I TR 78, (Bom) TR 78, (Bom) disallowance of purchases TR 78, (Bom) were made on the ground that in response to the notice issued by the A.O., the supplier parties did not appear and that in some cases the parties denied having business transactions with the assessee. It was held by the Hon’ble High Court that assessee having been…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER OF INCOME TAX, OF INCOME TAX, (2012) 346 I OF INCOME TAX, OF INCOME TAX, (2012) 346 I (2012) 346 ITR 78, (Bom) (2012) 346 I TR 78, (Bom) TR 78, (Bom) disallowance of purchases TR 78, (Bom) were made on the ground that in response to the notice issued by the A.O., the supplier parties did not appear and that in some cases the parties denied having business transactions with the assessee. It was held by the Hon’ble High Court that assessee having been…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…leting the addition made holding that since the impugned purchases have been sold and sales having been accepted, there was no rationale for disallowing the purchases. 7.4 In the case of NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER OF INCOME TAX, (2012) 346 ITR 78, (Bom) disallowance of purchases were made on the ground that in response to the notice issued by the A.O., the supplier parties did not appear and that in some cases the parties denied having business transactions with the assessee. It was held by the Hon'ble High Court that assessee having been copy of account of suppliers, copies of bank statem…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT CENTRAL CIRCLE -05 , DELHI

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

…COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER OF INCOME TAX, OF INCOME TAX, (2012) 346 I OF INCOME TAX, OF INCOME TAX, (2012) 346 I (2012) 346 ITR 78, (Bom) (2012) 346 I TR 78, (Bom) TR 78, (Bom) disallowance of purchases TR 78, (Bom) were made on the ground that in response to the notice issued by the A.O., the supplier parties did not appear and that in some cases the parties denied having business transactions with the assessee. It was held by the Hon’ble High Court that assessee having been…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

…leting the addition made holding that since the impugned purchases have been sold and sales having been accepted, there was no rationale for disallowing the purchases. 7.4 In the case of NIKUNJ EXIMP ENTERPRISES PVT LTD. vs. COMMISSIONER OF INCOME TAX, (2012) 346 ITR 78, (Bom) disallowance of purchases were made on the ground that in response to the notice issued by the A.O., the supplier parties did not appear and that in some cases the parties denied having business transactions with the assessee. It was held by the Hon'ble High Court that assessee having been copy of account of suppliers, copies of bank statem…

H S IMPEX PVT LTD,NEW DELHI vs. DCIT CIRCLE-11(2), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia

…towards accommodation entry has been negated in the case of CIT vs. J.M.D. Computer & Communication (P) Ltd. (Del) 2009] 180 Taxman 485 (Delhi); CIT vs. Bholanath Polyfab (P) Ltd., (2013) 355 ITR 290 (Guj.); Nikunj Eximp Enterprises Pvt. Ltd. vs. CIT, (2012) 346 ITR 78 (Bom) and plethora of other decisions. 19. In consonance with the view taken in ITA No.149/Del/2021 A.Y. 2009-10 (supra), we find force in the plea raised both on lack of jurisdiction as well as bona fides of transactions recorded in the books on merits. The order of the CIT(A) is thus set aside and the AO is directed to restore the position taken…

H S IMPEX PVT LTD,NEW DELHI vs. DCIT CIRCLE-11(2), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia

…towards accommodation entry has been negated in the case of CIT vs. J.M.D. Computer & Communication (P) Ltd. (Del) 2009] 180 Taxman 485 (Delhi); CIT vs. Bholanath Polyfab (P) Ltd., (2013) 355 ITR 290 (Guj.); Nikunj Eximp Enterprises Pvt. Ltd. vs. CIT, (2012) 346 ITR 78 (Bom) and plethora of other decisions. 19. In consonance with the view taken in ITA No.149/Del/2021 A.Y. 2009-10 (supra), we find force in the plea raised both on lack of jurisdiction as well as bona fides of transactions recorded in the books on merits. The order of the CIT(A) is thus set aside and the AO is directed to restore the position taken…