CIT v. Leaders Valves (P) Ltd.

285 ITR 435High Court2006#4733 most cited

What is CIT v. Leaders Valves (P) Ltd. authority for?

Addition for alleged bogus purchases is deleted when the Revenue takes a contradictory stand by rejecting books of account and simultaneously making additions for purchases recorded in those books.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Leaders Valves (P) Ltd. · 285 ITR 435 · bogus purchases · rejection of books of account · contradictory stand · addition on sale figures · deletion of addition

Sections most often in play

Section 133(6)Section 133ASection 143(3)Section 69CSection 131Section 142(1)Section 41(1)Section 68

Issues it is cited on

onus of proofcancellation of registrationrejection of books of accountunexplained expenditureaddition under section 68section 145(3)section 69ccross objectionsection 145commissioner (appeals)section 133asection 131

Judgments citing CIT v. Leaders Valves (P) Ltd.

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

ITA 144/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…are made there cannot be corresponding sale" and, therefore, application of higher net profit rate of 5%, in a manner similar to section 44AF, could be justified. p. Reliance is also placed on the decision in the case of CIT v. Leader Valves (P.) Ltd. [2006] 285 ITR 435 (Punj. & Har.)Where Revenue took contradictory stand in as much as on one hand it rejected the books and further, it made addition for alleged bogus purchases recorded in those books ITA. No.139/LKW/2022 Page 106 of 158 on the basis of sale figures, the addition for bogus purchases was deleted by the Tribunal and the Hon'ble High Court held that…

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

ITA 139/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…are made there cannot be corresponding sale" and, therefore, application of higher net profit rate of 5%, in a manner similar to section 44AF, could be justified. p. Reliance is also placed on the decision in the case of CIT v. Leader Valves (P.) Ltd. [2006] 285 ITR 435 (Punj. & Har.)Where Revenue took contradictory stand in as much as on one hand it rejected the books and further, it made addition for alleged bogus purchases recorded in those books ITA. No.139/LKW/2022 Page 106 of 158 on the basis of sale figures, the addition for bogus purchases was deleted by the Tribunal and the Hon'ble High Court held that…

INCOME TAX OFFICER, MANDI GOBINDGARH vs. GAURAV SINGHI, PRAGATIE STEELS,

In the result, Revenue’s appeal is dismissed and Assessee’s appeal is allowed

ITA 955/CHANDI/2024[2021-22]Status: DisposedITAT Chandigarh07 Jul 2025AY 2021-22

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 133

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 889/Chd/ 2024 िनधा"रण वष" / Assessment Year : 2021-22 Gaurav Singhi बनाम The ITO Pragatie Steels, Near Sai Mandir Ward-2, Mandi Gobindgarh Road, Nasrali, Gobindgarh, Punjab Punjab -147301 "ायी लेखा सं./PAN NO: ALHPS6129G अपीलाथ"/Appellant ""थ"/Respondent & आयकर अपील सं./ ITA No. 955/Chd/ 2024 िनधा"रण वष" / Assessment Year : 2021-22 The ITO…

GAURAV SINGHI, PRAGATIE STEELS, NEAR SAI MANDIR ROAD, NASRALI,GOBINDGARH,PUNJAB vs. ASSESSMENT UNITS NFAC DELHI, JURISDITIONAL ASSESSING OFFICER IT0-WARD-2, MANDI GOBINDGARH, PUNJAB

In the result, Revenue’s appeal is dismissed and Assessee’s appeal is allowed

ITA 889/CHANDI/2024[2021-2022]Status: DisposedITAT Chandigarh07 Jul 2025AY 2021-2022

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 133

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 889/Chd/ 2024 िनधा"रण वष" / Assessment Year : 2021-22 Gaurav Singhi बनाम The ITO Pragatie Steels, Near Sai Mandir Ward-2, Mandi Gobindgarh Road, Nasrali, Gobindgarh, Punjab Punjab -147301 "ायी लेखा सं./PAN NO: ALHPS6129G अपीलाथ"/Appellant ""थ"/Respondent & आयकर अपील सं./ ITA No. 955/Chd/ 2024 िनधा"रण वष" / Assessment Year : 2021-22 The ITO…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. MALBROS INTERNATIONAL PVT LTD, FARIDKOT

In the result, both the appeals and the Cross Objections\nare dismissed

ITA 993/CHANDI/2024[2016-17]Status: DisposedITAT Chandigarh25 Jun 2025AY 2016-17
For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 249Section 253Section 3Section 5

…le decision of the Hon'ble Amritsar Bench of the ITAT in the\ncase of Supertek Forging India Pvt. Ltd. in ITA No. 563/Asr/2018 where the similar\nissue of the bogus purchases was there, following the earlier judgment in the case of\nLeader Values reported in 285 ITR 435 had deleted the addition on account of the\nbogus purchases and besides that many other judgments of the Jurisdictional\nBenches of the Hon'ble Chandigarh ITAT and other coordinate benches cited during\nthe appellate proceedings, that no addition on account of bogus purchases can be\nmade.\nDECISION\n5.1.3 I have considered the reasoning given by…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. MALBROS INTERNATIONAL PVT LTD, FARIDKOT

In the result, both the appeals and the Cross Objections are dismissed

ITA 992/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh25 Jun 2025AY 2017-18

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Years: 2017-18, 2016-17 The Dcit, Vs Malbros International Pvt. Ltd., Central Circle-2, Village – Mansoorwal, Teh-Zira, Ludhiana. Head Offices Old Cantt. Road, Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent & C.O. Nos. 46 & 45/Chd/2024 In आयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Year: 2017-18, 2016-17 Malbros International Pvt. Ltd., The Dcit, Village – Mansoorwal, Teh-Zira, Vs Central Circle-2, Head Offices Old Cantt. Road, Ludhiana. Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Sudhir Sehgal, Advocate Revenue By : Smt. Kusum Bansal, Cit Dr Date Of Hearing : 14.05.2025 Date Of Pronouncement : 25.06.2025

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 249Section 253Section 3Section 5

…eld le decision of the Hon'ble Amritsar Bench of the ITAT in the case of Supertek Forging India Pvt. Ltd. in ITA No. 563/Asr/2018 where the similar issue of the bogus purchases was there, following the earlier judgment in the case of Leader Values reported in 285 ITR 435 had deleted the addition on account of the bogus purchases and besides that many other judgments of the Jurisdictional Benches of the Hon'ble Chandigarh ITAT and other coordinate benches cited during the appellate proceedings, that no addition on account of bogus purchases can be made. DECISION 5.1.3 I have considered the reasoning given by the…

DCIT, PATIALA vs. PRIME STEEL INDUSTRIES PRIVATE LIMITED, DIRBA

In the result, the appeal of the Assessee is allowed whereas, the appeal filed by the Revenue stands dismissed

ITA 500/CHANDI/2024[2021-22]Status: DisposedITAT Chandigarh20 Sept 2024AY 2021-22

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 275/Chd/2024 "नधा"रण वष" / Assessment Year : 2021-22 Prime Steel Industries Private Vs. The Dcit, बनाम Circle, Limited, Semi Industry, Patiala Plot No. 27, Anaj Mandi Dibra, Sangrur "थायी लेखा सं./Pan No: Aagca3988E अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita No. 500/Chd/2024 "नधा"रण वष" / Assessment Year : 2021-22 The Dcit, Vs. Prime Steel Industries Private बनाम Circle, Limited, Semi Industry, Patiala Plot No. 27, Anaj Mandi Dibra, Sangrur "थायी लेखा सं./Pan No: Aagca3988E अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate & Shri Viboore Garg, Ca राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 24.07.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 20.09.2024

For Appellant: Shri Sudhir Sehgal, Advocate and Shri Viboore Garg, CAFor Respondent: Smt. Kusum Bansal, CIT DR
Section 69C

…was not called for - Whether, on facts, SLP against said order was to be dismissed - Held, yes - In favour of assessee. 23. Our attention is also invited to the judgment of Punjab & Haryana High Court in the case of CIT Vs Leaders Valves (P) Ltd. reported in 285 ITR 435, in the said judgment, it has been held as under:- Held : "The analysis and conclusions drawn by the CIT(A) on the appreciation of material on record, have been concurred with by the Tribunal after taking notice of the fact that the trading results of the assessee had all along been accepted and the purchases of scrap from the seven parties could…

PRIME STEEL INDUSTRIES PRIVATE LIMITED, SEMI INDUSTRY PLOT NO.-27, ANAJ MANDI DIRBA, SANGRUR, PUNJAB,SANGRUR, PUNJAB vs. THE ASSESSING OFFICER NFAC, THE JURISDICTIONAL ASSESSING OFFICER, DCIT CIRCLE PATIALA, PATIALA, PUNJAB

In the result, the appeal of the Assessee is allowed whereas, the appeal filed by the Revenue stands dismissed

ITA 275/CHANDI/2024[2021-2022]Status: DisposedITAT Chandigarh20 Sept 2024AY 2021-2022

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 275/Chd/2024 "नधा"रण वष" / Assessment Year : 2021-22 Prime Steel Industries Private Vs. The Dcit, बनाम Circle, Limited, Semi Industry, Patiala Plot No. 27, Anaj Mandi Dibra, Sangrur "थायी लेखा सं./Pan No: Aagca3988E अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita No. 500/Chd/2024 "नधा"रण वष" / Assessment Year : 2021-22 The Dcit, Vs. Prime Steel Industries Private बनाम Circle, Limited, Semi Industry, Patiala Plot No. 27, Anaj Mandi Dibra, Sangrur "थायी लेखा सं./Pan No: Aagca3988E अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate & Shri Viboore Garg, Ca राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 24.07.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 20.09.2024

For Appellant: Shri Sudhir Sehgal, Advocate and Shri Viboore Garg, CAFor Respondent: Smt. Kusum Bansal, CIT DR
Section 69C

…was not called for - Whether, on facts, SLP against said order was to be dismissed - Held, yes - In favour of assessee. 23. Our attention is also invited to the judgment of Punjab & Haryana High Court in the case of CIT Vs Leaders Valves (P) Ltd. reported in 285 ITR 435, in the said judgment, it has been held as under:- Held : "The analysis and conclusions drawn by the CIT(A) on the appreciation of material on record, have been concurred with by the Tribunal after taking notice of the fact that the trading results of the assessee had all along been accepted and the purchases of scrap from the seven parties could…

BHANDARI GOLD AND JEWELLERS PRIVATE LIMITED,MUMBAI vs. CIT (APPEAL), NFAC - DELHI

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 1619/MUM/2022[2017-2018]Status: DisposedITAT Mumbai19 Jul 2023AY 2017-2018

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

Section 143(3)Section 68

…eev G. Kalathi ITA No.6727/Mum/20 12 7. ACIT Vs G.V. Sons & 2240/Mum/2012 8. ITO vs. Eagle Implex ITA No.5697/Mum/2010 9. Madhukant B. Gandhi vs ITO ITA No. 1950/Mum/2009 10. CIT vs. President Industries 258 ITR 654 (Guj-HC) 11. CIT Vs. Leaders Valves (P) Ltd 285 ITR 435 (P&H-HC) 12. Hiralal Chunilal Jain vs. ITO ITA No.4547/Mum/2014 dated 13.01.2016. 13. Ganpatraj A Sanghvi vs. ACIT ITA No.2826/Mum/2013 14. ITO vs. Shri Deepak Popatlal Gala ITA No.5920/Mum/2013 Page No. | 30 ITA NO. 1564& 1619/MUM/2022 (A.Y: 2017-18) M/s. Bandari Gold and Jewellers Pvt. Ltd., 15. Ramesh Kumar & Co vs. ACIT ITA No.2959/Mum/2014)…

CY. CIT 6(1) (2) , MUMBAI vs. M/S. BHANDARI GOLD & JEWELLERS PVT. LTD, MUMBAI

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 1564/MUM/2022[2017-18]Status: DisposedITAT Mumbai19 Jul 2023AY 2017-18

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

Section 143(3)Section 68

…eev G. Kalathi ITA No.6727/Mum/20 12 7. ACIT Vs G.V. Sons & 2240/Mum/2012 8. ITO vs. Eagle Implex ITA No.5697/Mum/2010 9. Madhukant B. Gandhi vs ITO ITA No. 1950/Mum/2009 10. CIT vs. President Industries 258 ITR 654 (Guj-HC) 11. CIT Vs. Leaders Valves (P) Ltd 285 ITR 435 (P&H-HC) 12. Hiralal Chunilal Jain vs. ITO ITA No.4547/Mum/2014 dated 13.01.2016. 13. Ganpatraj A Sanghvi vs. ACIT ITA No.2826/Mum/2013 14. ITO vs. Shri Deepak Popatlal Gala ITA No.5920/Mum/2013 Page No. | 30 ITA NO. 1564& 1619/MUM/2022 (A.Y: 2017-18) M/s. Bandari Gold and Jewellers Pvt. Ltd., 15. Ramesh Kumar & Co vs. ACIT ITA No.2959/Mum/2014)…

MEASAGE BHAI INDUSTRIES PRIVATE LIMITED,MOGA vs. INCOME TAX OFFICER WARD-1, MOGA

Appeal of the assessee is allowed

ITA 358/ASR/2019[2011-12]Status: DisposedITAT Amritsar11 Aug 2022AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Sudhir SehgalFor Respondent: Sh. S. M. Surendranath, Sr. DR
Section 143(1)Section 147Section 148Section 44A

…binding 3 Bhai Industries Pvt. Ltd. v. ITO judgment of the Hon'ble Supreme Court in the case of the Pr. CIT Vs. Tejua Rohit kumar Kapadi as reported in 94 taxmann.com 325 and the jurisdictional Hon'ble High Court in the case of Leaders Valves as reported in 285 ITR 435. 8. That the appellant craves leave to add or amend the grounds of appeal before the appeal is finally heard or disposed off.” 2. Briefly, the facts as per record are that the assessee is into the business of flour mill where the basic raw material is wheat converted into the end-products such as Atta, Maida and Suji; that the assessee is mainta…

INCOME TAX OFFICER, WARD-1(1) , HYDERABAD vs. AMR GLOBAL INDUSTRIES LIMITED , HYDERABAD

Appeal is dismissed

ITA 41/HYD/2020[2011-12]Status: DisposedITAT Hyderabad14 Dec 2021AY 2011-12

Bench: Shri A.M. Alankamony & Shri S.S. Godaraassessment Year: 2011-12

For Appellant: Adv. Hema KatariaFor Respondent: Sri Rajendra Kumar, CIT(DR)
Section 143(3)

…without purchases. Similarly, no disallowance is called for when the purchases are reflected as closing stock, since there cannot be any closing stock without corresponding purchases. Reliance is placed on the following decisions: CIT Vs Leaders Valves P Ltd 285 ITR 435 (P & H): CIT Vs Kashiram Textile Mills P. Ltd. 284ITR 61 (Guj) CIT Vs Nangalia Fabrics P Ltd (Tax Appeal No. 689 of 2010) (Guj HC) The Hyderabad Bench of Hon'ble ITAT held, vide its order in ITA No 2016 of 2017 dt.22.0S.2018 in the case of Meena Jewellers P Ltd, that there cannot be any disallowance of the purchases if it is found that the respe…

THE ASSTT. COMMISSIONER OF INCOME-TAX, AMRITSAR. vs. M/S. BISHAN STEEL INDUSTRIES, AMRITSAR.

In the result the appeal of the revenue as well as CO of the

ITA 589/ASR/2014[2010-11]Status: DisposedITAT Amritsar24 Aug 2021AY 2010-11

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

Section 250(6)

…ng, Mumbai subject to maintenance of same paint quality a+icn clearly proves that M/s. Asian Tube Trading, Mumbai was part of M/s. Nyka Steels Pvt. Ltd. In similar circumstances Jurisdictional High Court has held in the case of CIT vs. Leaders Valves Pvt. Ltd 285 ITR 435 that as consumption stood fully proved the existence of parties can not be denied. In this case it was also held that if purchases are treated as bogus it would be impossible to manufacture the goods shown to have been manufactured. Similarly in the present case it would be impossible to have such quantitative sale and profits in absence of such…

MESERS SUPERTECH FORGINGS(INDIA) PVT.LTD.,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE IV, JALANDHAR

In the result, the appeal of the Assessee is allowed

ITA 563/ASR/2018[2010-11]Status: DisposedITAT Amritsar02 Aug 2021AY 2010-11
Section 143(3)Section 147

…ispute. Therefore, even,on this premise, the assessee has a strong case to succeed in its appeal for the year under consideration” 9. He also relied upon the decision in the case of Punjab and Haryana High Court in the matter of Leader Valves (P.) Ltd [2006] 285 ITR 435 (PUNJ. & HAR.) wherein it was held as regards question No. (i) Shri Patwalia, learned counsel for the Revenue, has vehemently argued that the findings of the Tribunal pertaining to deletion of the addition of Rs. 1,48,93,286 in the income of the assessee on account of bogus purchases, are totally perverse. We are, however, unable to persuade ours…

ACIT-4(2)(1), MUMBAI vs. M/S.VGC DIAMOND PRIVATE LIMITED, MUMBAI

The appeal of the assessee is allowed, and appeal of the Assessing Officer is dismissed

ITA 7004/MUM/2017[2014-15]Status: DisposedITAT Mumbai08 Jul 2020AY 2014-15

Bench: Shri Pawan Singh, Jm& Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 7004/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2014-15)

For Appellant: Mrs. SamathaFor Respondent: Shri Vimal Punamiya, AR
Section 133(6)Section 143(2)Section 143(3)Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JM& SHRI S. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No. 7004/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2014-15) M/s VGC Diamond Pvt. ACIT 4(2)(1) Ltd. 6th floor, Room no. 642, बिधम/ 308/382, 1st floor, NNS Aayakar Bhavan, M. K. Building, Chira Bazar, Vs. Road, Mumbai-400 020 Kalabadevi, Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./PAN No. AACCV5319C (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Mrs. Samatha Mullamudi,DR by प्रत्यथीकीओरसे/Respondentby : Shri Vimal Punamiya, AR सुनवाईकीतारीख/ : 20.02.2020 Date of Hea…

M/S G. D. ENTERPRISE,KOLKATA vs. ACIT, CIR-40, KOLKATA, KOLKATA

In the result, we dismiss both the appeal of the assessee as well of Revenue

ITA 585/KOL/2016[2012-2013]Status: DisposedITAT Kolkata15 Mar 2019AY 2012-2013

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 M/S G.D. Enterprise V/S. Acit, Circle-40 1/H/1, Raja Janmenjoy 3, Government Place Road, Kolkata-700010 (West), Kolkat- [Pan No.Aacfg 4533 A] 700001 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri J.M. Thard, Advocate अपीलाथ" क" ओर से/By Appellant Shri Sourav Kumar, Addl. Cit-Sr-Dr ""यथ" क" ओर से/By Respondent 14-01-2019 सुनवाई क" तार"ख/Date Of Hearing 15-03-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-13, Kolkata’S Order Dated 31.12.2015, Passed In Case No.1046/Cit(A)-13/Kol/Cir-45/2014-15, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties Case File Perused. 2. The Assessee’S Sole Substantive Ground Seeks To Reverse Both The Lower Authorities’ Action Treating Its Purchases Amounting To ₹3,39,04,027/- As Bogus In Assessment As Affirmed In Lower Appellate Proceedings. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- “5. Decision 5.1 Appellant'S Submission & Facts Available On Record Is Carefully Considered. The Assessee Has Argued That It Had Made All Payments Through Account Payee Cheque & From Your Petitioner Site There Is No Mistake As Per Law & Income Tax Act. So The Disallowance Of Purchase Against Payment Through Account Payee Cheque Would Not Be False & It May Be Accepted

Section 143(3)

…uj-HC) ii) CIT vs. Bholanath Poly Fab Pvt Ltd 355 ITR 290 (Guj-HC) iii) CIT vs. President Industries 258 ITR 654 (Guj-HC) iv) CIT vs. Balchand Ajit Kumer 263 ITR 610 (MP-HC) v) Man Mohan Sadani vs. CIT 304 ITR 152 (MP-HC) vi) CIT vs. Leaders valves (P) Ltd 285 ITR 435 (P&H-HC) Merely non appearance of suppliers would not conclude the purchase as ingenuine i) CIT vs. Nikunj Eximp Enterprises (P) Ltd 35 Taxmann.com 384 (Bom-HC) In view of the above, a humble prayer is made :-. a) To delete the addition u/s 69C of Rs 1,31,88,227/- or alternatively, b) To adopt the concept of real income and restrict the addition…

DCIT, NEW DELHI vs. M/S. PADMINI VNA MECHATRONICS PVT. LTD., NEW DELHI

In the result, Departmental Appeal for A

ITA 1809/DEL/2014[2008-09]Status: DisposedITAT Delhi01 Aug 2018AY 2008-09

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Rajkumar Gupta, CA &For Respondent: Sh. S.R. Senpati, Sr.DR
Section 133Section 143Section 147Section 148

…y form ST-38 issued by Excise and Trade department. Nothing adverse has been found in this behalf. In the absence of any allegation about insufficiency of trading results such addition has been rightly deleted by CIT (A).” (3) CIT vs. Leaders Valves (P) Ltd. 285 ITR 435 ( P & H), in which Punjab & Haryana High Court held as under:- “Tribunal having upheld the conclusion of the CIT (A) that the purchases made by the assessee from seven scrap dealers could not be treated as bogus as the consumption stood fully proved and the trading results of the assessee have been accepted all along and the purchases from thes…

DCIT, NEW DELHI vs. M/S. PADMINI VNA MECHATRONICS PVT. LTD., NEW DELHI

In the result, Departmental Appeal for A

ITA 1808/DEL/2014[2007-08]Status: DisposedITAT Delhi01 Aug 2018AY 2007-08

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Rajkumar Gupta, CA &For Respondent: Sh. S.R. Senpati, Sr.DR
Section 133Section 143Section 147Section 148

…y form ST-38 issued by Excise and Trade department. Nothing adverse has been found in this behalf. In the absence of any allegation about insufficiency of trading results such addition has been rightly deleted by CIT (A).” (3) CIT vs. Leaders Valves (P) Ltd. 285 ITR 435 ( P & H), in which Punjab & Haryana High Court held as under:- “Tribunal having upheld the conclusion of the CIT (A) that the purchases made by the assessee from seven scrap dealers could not be treated as bogus as the consumption stood fully proved and the trading results of the assessee have been accepted all along and the purchases from thes…

DCIT, NEW DELHI vs. M/S. PADMINI VNA MECHATRONICS PVT. LTD., NEW DELHI

In the result, Departmental Appeal for A

ITA 1807/DEL/2014[2006-07]Status: DisposedITAT Delhi01 Aug 2018AY 2006-07

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Rajkumar Gupta, CA &For Respondent: Sh. S.R. Senpati, Sr.DR
Section 133Section 143Section 147Section 148

…y form ST-38 issued by Excise and Trade department. Nothing adverse has been found in this behalf. In the absence of any allegation about insufficiency of trading results such addition has been rightly deleted by CIT (A).” (3) CIT vs. Leaders Valves (P) Ltd. 285 ITR 435 ( P & H), in which Punjab & Haryana High Court held as under:- “Tribunal having upheld the conclusion of the CIT (A) that the purchases made by the assessee from seven scrap dealers could not be treated as bogus as the consumption stood fully proved and the trading results of the assessee have been accepted all along and the purchases from thes…

SHANKAR JHALANI,JAIPUR vs. ITO, JAIPUR

In the result, appeal of the assessee is dismissed

ITA 1053/JPR/2016[2011-12]Status: DisposedITAT Jaipur19 Feb 2018AY 2011-12

Bench: The Itat By Taking Following

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri R.A. Verma (Addl.CIT)
Section 144Section 40

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh Hkkxpan] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, AM vk;dj vihy la-@ITA No. 1053/JP/2016 fu/kZkj.k o"kZ@Assessment Year : 2011-12 cuke Shankar Jhalani, Income Tax Officer, Vs. B-3, Lalji Ka Bagh, Moti Lal Atal Ward 3(2), Road, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABTPJ 9902 E vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri P.C. Parwal (CA) jktLo dh vksj ls@ Revenue by : Shri R.A. Verma (Addl.CI…

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