CIT v. Bholanath Poly Fab. Pvt. Ltd.

355 ITR 290High Court2013#73 most cited

What is CIT v. Bholanath Poly Fab. Pvt. Ltd. authority for?

If an assessee makes purchases from bogus parties, but the underlying goods are genuinely acquired and sold, only the profit margin embedded in such purchases, and not the entire value of the bogus purchases, should be added to the assessee's income.

712

judgments rely on this decision, according to BharatTax’s citation analysis of 371,887 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Bholanath Poly Fab · 355 ITR 290 · bogus purchases · accommodation entry · unexplained expenditure · profit margin · gross profit rate · section 37(1) · section 68 · section 153A · genuineness of purchases · entire purchases addition

Sections most often in play

Section 143(3)Section 148Section 147Section 37(1)Section 153ASection 132Section 133(6)Section 68

Issues it is cited on

section 292csection 44absection 69csection 131commissioner (appeals)section 132(4)accommodation entrysection 145section 37(1)section 133(6)escapement of incomeunexplained expenditure

Judgments citing CIT v. Bholanath Poly Fab. Pvt. Ltd.

Globus Agro Foods P.Ltd, Delhi vs. ACIT, New Delhi

In the result, the appeals are disposed of as follows:

ITA 714/DEL/2022[2015-16]Status: DisposedITAT Delhi30 May 2024AY 2015-16

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Kwality Techmech P.Ltd, Delhi vs. ACIT, New Delhi

In the result, the appeals are disposed of as follows:

ITA 713/DEL/2022[2018-19]Status: DisposedITAT Delhi30 May 2024AY 2018-19

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Kwality Techmech P.Ltd, Delhi vs. ACIT, New Delhi

In the result, the appeals are disposed of as follows:

ITA 712/DEL/2022[2017-18]Status: DisposedITAT Delhi30 May 2024AY 2017-18

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Kwality Techmech P.Ltd, Delhi vs. ACIT, New Delhi

In the result, the appeals are disposed of as follows:

ITA 711/DEL/2022[2016-17]Status: DisposedITAT Delhi30 May 2024AY 2016-17

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

DCIT, Central Circle-20, New Delhi vs. Globus Agro Foods Pvt Ltd, New Delhi

In the result, the appeals are disposed of as follows:

ITA 2420/DEL/2022[2018-19]Status: DisposedITAT Delhi30 May 2024AY 2018-19

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

DCIT, Central Circle-20, New Delhi vs. Globus Agro Foods Pvt Ltd, New Delhi

In the result, the appeals are disposed of as follows:

ITA 2419/DEL/2022[2017-18]Status: DisposedITAT Delhi30 May 2024AY 2017-18

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Globus Agrofoods Pvt. Ltd., Delhi vs. ACIT, Central Circle-20, New Delhi

In the result, the appeals are disposed of as follows:

ITA 1855/DEL/2022[2018-19]Status: DisposedITAT Delhi30 May 2024AY 2018-19

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Globus Agrofoods Pvt. Ltd., Delhi vs. ACIT, Central Circle-20, New Delhi

In the result, the appeals are disposed of as follows:

ITA 1854/DEL/2022[2017-18]Status: DisposedITAT Delhi30 May 2024AY 2017-18

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

DCIT, Central Circle-20, New Delhi vs. Parmanand and Sons Foods Products P.Ltd, Delhi

In the result, the appeals are disposed of as follows:

ITA 1330/DEL/2022[2018-19]Status: DisposedITAT Delhi30 May 2024AY 2018-19

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

DCIT, Central Circle-20, New Delhi vs. Parmanand and Sons Foods Products P.Ltd, Delhi

In the result, the appeals are disposed of as follows:

ITA 1329/DEL/2022[2017-18]Status: DisposedITAT Delhi30 May 2024AY 2017-18

Bench: Dr. B.R.R. Kumar & Sh. Yogesh Kumar Usita No. 711, 712 & 713/Del/2022 A.Y. 2016-17, 2017-18 & 2018-19 Kwality Techmech Pvt. Ltd. Vs. Dcit/Acit, B-20, Lawrence Road Cc-20, Industrial Area , Delhi Keshav Puram, North West Delhi, Delhi-110035 Pan : Aaeck1176E Appellant Respondent

Section 69B

…terial had not been taken into consideration. In the absence of any material to the contrary being pointed out on behalf of the Revenue, the order of the Tribunal could not be found fault with.” (ii) Further in the case of CIT Vs. Bholanath Poly Fab (P) Ltd. 355 ITR 290 the Hon’ble Gujarat High Court has held as under: “Held, dismissing the appeal, that whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus was essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchas…

Income Tax Officer, Kalyan vs. J D Electric Works, Kalyan

In the result, the appeal of the Revenue is dismissed

ITA 4521/MUM/2023[2009-10]Status: DisposedITAT Mumbai06 May 2024AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Narender Kumar Choudhry () Assessment Year: 2009-10

For Appellant: Mr. Shashank MehtaFor Respondent: Ms. Rajeshwari Menon, Sr. DR
Section 1Section 148

…d. [2013) 355 ITR 498 (Guj) and in the case of CIT v. Construction Ltd. [2013) 355 ITR 498 (Guj) and in the case of CIT v. Construction Ltd. [2013) 355 ITR 498 (Guj) and in the case of CIT v. Bholanath Poly Fab (P.)Ltd. [201 Bholanath Poly Fab (P.)Ltd. [2013] 355 ITR 290 (Guj. The view taken by 3] 355 ITR 290 (Guj. The view taken by the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [1996] 58 ITD the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [1996] 58 ITD the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [1996] 58 ITD 428 (Ahd.) came to be approved. 428 (Ahd.) came to be app…

Income Tax Officer, Ward-11(1), Hyderabad, Kondapur Hyderabad vs. Sangam Wires, Kalaburagi

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 371/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…it out of purchases made through non-genuine only parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted”. 18. Similarly, in the case of CIT vs. Bholanath Poly Fab (P) Ltd (355 ITR 290 (Guj.), the Hon'ble High Court has observed as under: (Held Portion) “The assessee, for the assessment year 2005-06, was engaged in the business of trading in finished fabrics. The Assessing Officer held that purchases worth Rs. 40,69,546 were unexplained and disallowed the expenditure claimed by the assessee and computed the total income of Rs.…

Sangam Wires, Hyderabad vs. ITO., Ward-11(1), Hyderabad

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 356/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…it out of purchases made through non-genuine only parties. The estimation of rate of profit return must necessarily vary with the nature of business and no uniform yardstick could be adopted”. 18. Similarly, in the case of CIT vs. Bholanath Poly Fab (P) Ltd (355 ITR 290 (Guj.), the Hon'ble High Court has observed as under: (Held Portion) “The assessee, for the assessment year 2005-06, was engaged in the business of trading in finished fabrics. The Assessing Officer held that purchases worth Rs. 40,69,546 were unexplained and disallowed the expenditure claimed by the assessee and computed the total income of Rs.…

Ipca Laboratories Ltd., Mumbai vs. Dy CIT CC-5(2), Mumbai

ITA 883/MUM/2021[2014-15]Status: DisposedITAT Mumbai08 Apr 2024AY 2014-15

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. बिधम/ Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) 2

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon'ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this 39 ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation…

Ipca Laboratories Ltd., Mumbai vs. Dy CIT CC-5(2), Mumbai

ITA 882/MUM/2021[2011-12]Status: DisposedITAT Mumbai08 Apr 2024AY 2011-12

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. बिधम/ Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15)

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon’ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this 40 ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation…

Ipca Laboratories Ltd., Mumbai vs. Dy CIT -CC-5(2), Mumbai

In the result, both the appeals of the assessee as well as the revenue for AYs 2009-10, 2010-11, 2011-12, 2012-13 & 2014-15 are partly allowed

ITA 881/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15)

For Appellant: Shri Madhur Agrawal (Adv)For Respondent: Shri K. C Selvamani (DR)
Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon’ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation, this Tribunal was of the o…

Ipca Laboratories Ltd., Mumbai vs. Dy CIT -CC-5(2), Mumbai

In the result, both the appeals of the assessee as well as the

ITA 880/MUM/2021[2009-10]Status: DisposedITAT Mumbai08 Apr 2024AY 2009-10

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15)

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon'ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this 40 ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation…

Dy.CIT CC -5(2) Cent. RG. -5, Mumbai vs. M/S. Ipca Laboratories Ltd, Mumbai

In the result, both the appeals of the assessee as well as the

ITA 2571/MUM/2021[2014-15]Status: DisposedITAT Mumbai08 Apr 2024AY 2014-15

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. बिधम/ Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15)

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon’ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd 39 Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation…

DCIT- CC5(2), Mumbai vs. Ipca Laboratories Ltd., Mumbai

In the result, both the appeals of the assessee as well as the

ITA 2569/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. बिधम/ Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15)

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…hases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon'ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd 40 Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situat…

CIT -CC5(2) Central RG., -5, Mumbai vs. M/S. Ipca Laboratories Ltd, Mumbai

ITA 2567/MUM/2021[2011-12]Status: DisposedITAT Mumbai08 Apr 2024AY 2011-12

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15) Ipca Laboratories Ltd 48 Kandivli Industries Estate, Charkop Kandivli West, Mumbai-400067. Vs. Dcit, Central Circle-5(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 2563/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 2565/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 2567/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 2569/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 2571/Mum/2021 (निर्धारण वर्ा/ Assessment Year: 2014-15)

Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…purchases were indeed made, but the parties, who the assessee claims to have supplied these purchases, are not genuine. In this regard, we may gainfully refer to the decision of the Hon’ble Gujarat High Court in the case of CIT Vs Bholanath Polyfab (P.) Ltd. (355 ITR 290) wherein similar issue was involved. In that case also, it is noted that this 40 ITA No.879 to 883/M/2021 & Others (Assessee & Revenue) A.Y Nos. 2009-10 to AY. 14-15 IPCA Laboratories Ltd Tribunal was of the opinion that the purchases might have been made from bogus parties but the purchases themselves were not bogus. Considering such a situation…