CIT v. Nikunj Exim Enterprises Pvt. Ltd.

ACIT 25(3), Mumbai vs. Vishal P. Mehta, Mumbai

In the result, Revenue’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosain A C I T – 25(3) Shri Vishal P. Mehta 308, C—11, Bandra Kurla A/305, Sairaj Garden Vs. Complex, Bandra (E) Iraniwadi Road No. 3 Mumbai 400051 Kandivali (W), Mumbai -067 Pan – Afgpm0875G Appellant Respondent

…roduced are not genuine or doubtful; could not have made the additions ignoring the evidences placed before him. The learned CIT(A), inter alia, relying on the decision of the Hon'ble Bombay High Court in the case of CIT vs. Nikunj Eximp Enterprises Pvt. Ltd. 372 ITR 619 (Bom) deleted the addition of `3,75,87,293/- made by the AO under section 69C of the Act vide the impugned order dated 09.05.2013. 4 Shri Vishal P. Mehta 4.1 Aggrieved by the order of the CIT(A)-35, Mumbai dated 09.05.2013 for A.Y. 2010-11, Revenue has preferred this appeal raising the following grounds: - “(i) On the facts and in the circumstanc…

DCIT 25(1), Mumbai vs. Om Gagangiri Development Corporation, Mumbai

Accordingly, grounds raised by the Revenue are partly allowed for statistical purposes

Bench: S/Shri Rajendra & C.N. Prasadआयकर आयकर अपील अपील संसंसंसं./Ita/1322/Mum/2014,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2010-11 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit-25(1) M/S. Om Gagangiri Development Pratyakshakar Bhavan, Room Corporation, No.202, 2Nd Floor, Bandra Kurla Vs. B-102, Arlanta Building, Mitagar Road, Complex, Bandra (E), Dahisar (W), Mumbai-400 068. Mumbai-400 051. Pan:Aaafo 1526 B (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By : Shri Airija Jaikaran - Dr Assessee By : Shri Sandeep D. Ghelani-Ar सुनवाई क" तारीख / Date Of Hearing : 14.09.2016 घोषणा क" तारीख / Date Of Pronouncement: 21.09.2016 आयकर आयकर अिधिनयम आयकर आयकर अिधिनयम अिधिनयम,1961 क" अिधिनयम क" क" धारा क" धारा धारा 254(1)केकेकेके अ"तग"त धारा अ"तग"त अ"तग"त आदेश अ"तग"त आदेश आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार Per Rajendra, Am- अनुसार Challenging The Order Dated 02/12/2013 Of The Cit (A) – 35, Mumbai, The Assessing Officer (Ao) Has Filed The Present Appeal Raising Various Grounds. Assessee – Firm Is Engaged In The Business Of Builders & Developers. Return Of Income, Declaring Total Income At Rs. 1.83 Crores Was Filed On 03/09/2010. The Ao Completed The Assessment Under Section 143 (3) Of The Act On 30/01/2013 Determining The Income Of The Assessee At Rs. 2.20 Crores.

…ed that AO has not rejected the books of account of the assessee. The Revenue has not disputed use of the building material. The assessee further relied upon the decision of Hon’ble jurisdictional High Court in CIT vs. Nikunj Eximp Enterprises (P) Ltd. [2015] 372 ITR 619 (Bom) and the decision of Co-ordinate Bench in ITA No. 6727/Mum/2012 in DCIT vs. Rajeev G. Kalathil (which is authored by ld. AM). 4.We have considered the rival contention of the parties and perused the material available on record. The assessing officer during the assessment proceeding asked the assessee to furnish the list of the persons from…

Addl CIT RG 24(2), Mumbai vs. Saraswati Developers, Mumbai

In the result, the Revenue’s appeal is allowed for statistical purposes

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 8337/Mum/2010 ("नधा"रण वष" / Assessment Year: 2006-07) Dy. Cit-24(2), Saraswati Developers Room No. 601, 6Th Floor, 54/55, Rani Sati Marg, बनाम/ Pratyakshakar Bhavan, Malad (E), Mumbai-400 097 Bandra-Kurla Complex, Vs. Bandra (E), Mumbai-400 051 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaofs 5105 N (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Kailash Gaikwad ""यथ" क" ओर से/Respondent By : Shri Viraj Shah

…ken without the input goods and services, so that the purchases cannot be disallowed on that ground. A view that has found acceptance by the tribunal as well as by the Hon'ble jurisdictional High Court (refer: CIT vs. Nikunj Eximp Enterprises Pvt. Ltd. [2015] 372 ITR 619 (Bom) and Goolamally Hasanjee vs. ITO (in ITA Nos. 3740 & 3741/Mum/2012 dated 10.6.2014)). The purchase and the liability, i.e., on account of the purchases booked in accounts, is thus not necessarily linked, and the same may not represent that in respect of the actual purchases. If purchases are not shown as from the stated creditors, it cannot…

ITO 14(2)(3), Mumbai vs. Lachhmandas U Talreja (HUF), Mumbai

In the result, the assessee’s appeals are partly allowed for statistical purposes and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. Nos.7644 & 7645/Mum/2013 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Ito-14(2)-3, Lachhmandas U Talreja (Huf) बनाम/ Earnest House, R. No. 306, 3Rd Floor, 282, Kalbadevi Road, Vs. Nariman Point, Mumbai-400 021 Mumbai-400 002 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaahl 0990 E (राज"व/ Revenue) ("नधा"रती/Assessee) : आयकर अपील सं./I.T.A. Nos.6581 & 6582/Mum/2013 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Lachhmandas U Talreja (Huf) Ito-14(2)-3, बनाम/ Earnest House, R. No. 306, 3Rd Floor, 282, Kalbadevi Road, Vs. Mumbai-400 002 Nariman Point, Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaahl 0990 E ("नधा"रती/Assessee) (राज"व/ Revenue) : राज"व क" ओर से / Revenue By : Shri Jeevan Lal Lavidya "नधा"रती क" ओर से/Assessee By : Shri Deepak Tralshwala सुनवाई क" तार"ख / : 18.4.2016 Date Of Hearing घोषणा क" तार"ख / : 11.7.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is A Set Of Cross Appeals, I.E., By The Assessee & The Revenue, For Two Consecutive Years, Being Assessment Years (A.Ys.) 2004-05 & 2005-06, Preferred U/S. 253 Of The Income Tax Act, 1961 (‘The Act’ Hereinafter). The Issues Arising Being (A.Ys. 2004-05 & 2005-06) Lachhmandas U Talreja (Huf) Common, The Same Were Listed For Hearing & Were Accordingly Heard Together – The Facts & Circumstances As Well As The Respective Cases Of The Parties Being Also The Same & Are Being Disposed Of Vide A Common, Consolidated Order.

…ITO (in ITA Nos. 3740 & 3741/Mum/2012 dated 10.6.2014) and Dy. CIT vs. Rajeev G. Kalathil (in ITA No. 6727/Mum/2012 & CO No. 06/Mum/2014 dated 20.8.2014), as well as by the Hon'ble jurisdictional High Court in CIT vs. Nikunj Eximp Enterprises Pvt. Ltd. [2015] 372 ITR 619 (Bom). The tribunal had clarified that though suspicion could be a good starting point (of investigation), it cannot itself substitute evidence, and no disallowance could be made on that basis. The very fact that the sales had been made implies that the purchases – from whatever source – had also been made. The availability of stock reconciliatio…

Vision, Mumbai vs. ACIT 19(3), Mumbai

In the result, appeal of the assessee stands allowed

Bench: Shri Amit Shukla & Shri Ashwani Taneja

…the factual matrix of the assessee’s in the case on hand to be similar to the facts of the above mentioned cases and therefore respectfully following the decision of the Hon'ble Bombay High Court in the case of CIT vs. Nikunj Eximp Enterprises (P) Ltd. (2013) 372 ITR 619 (Bom) and of the Hon'ble Gujarat High Court in the case of CIT vs. Mundra Port and Sez Ltd. (2014) 45 taxmann.com 381 (Guj) we hold in favour of the assessee and direct the AO to delete the disallowance of Rs.48,49,624/- claimed by the assessee as payment for professional services rendered by Nova Corporate Services P. Ltd. and consequently allow…

ACIT 25(1), Mumbai vs. Om Gangangiri Development Corporation, Mumbai

Accordingly, grounds raised by the Revenue are partly allowed for statistical purposes

Bench: S/Sh. Rajendra & Pawan Singhआयकर अपील सं/.Ita No.5687/Mum/2014,"नधा"रण वष"/Assessment Year-2011-12 Acit 25(1), M/S Om Gagangiri Development Pratyaksha Kar Bhavan, Corporation, 102-B, Atlanta Room No. 202, 2Nd Floor, Vs Building, Mithagar Road, Bkc, Bandra(East), Dahisar (W), Mumbai-400068. Mumbai-400051 Pan:Aaafo1526B

…ed that AO has not rejected the books of account of the assessee. The Revenue has not disputed use of the building material. The assessee further relied upon the decision of Hon’ble jurisdictional High Court in CIT vs. Nikunj Eximp Enterprises (P) Ltd. [2015] 372 ITR 619 (Bom) and the decision of Co-ordinate Bench 2 ITA No.5687/Mum//2014- M/s Om Gagangiri Development Corporation. in ITA No. 6727/Mum/2012 in DCIT vs. Rajeev G. Kalathil (which is authored by ld. AM). 4. We have considered the rival contention of the parties and perused the material available on record. The assessing officer during the assessmen…

Rasiklal Hiralal & Co. P.Ltd, Mumbai vs. ITO 4(3)(2), Mumbai

In the result, this appeal is partly allowed for statistical purposes in terms of our directions as discussed above

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2007-08 & Assessment Year: 2008-09 & Assessment Year: 2009-10 Rasiklal Hiralal & Co. P. Ltd., Ito 4(3)(2) Ec-4051 & 4053 Bharat Aayakar Bhavan बनाम/ Diamond Bourse, Bkc Mumbai- Vs. Bandra (E) Mumbai-400051 (Assessee) (Revenue) P.A. No.Aaacr1854J "नधा"रती क" ओर से / Assessee By Smt. Arti Visanji & Shri Vijay Kumar S. Biyani (Ar) Shri B.S. Bist (Sr. Dr) राज"व क" ओर से / Revenue By 16/06/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 29/06/2016

…GP rate shall shoot up to a very high and unreasonable figure. She alternatively submitted that in any case purchases cannot be disallowed in full. She relied upon the judgment of Honb’le Bombay High Court in the case of CIT v. Nikunj Exim Enterprises P. Ltd. 372 ITR 619 and judgment of the tribunal in the case of ACIT v. Say India Jewellers in ITA No.6735/Mum/2010 dated 08.08.2014 and Shri Jigar Shah (ITA NO.1223/Mum/2014 dated 22.01.2016. 9 Rasiklal Hiralal & Co. P. Ltd. 4.6. Per contra Ld. DR submitted that this is a case of bogus purchases. The disallowance was rightly made by the AO and confirmed by the Ld.…

Rasiklal Hiralal & Co. P.Ltd, Mumbai vs. ITO 4(3)(2), Mumbai

In the result, this appeal is partly allowed for statistical purposes in terms of our directions as discussed above

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2007-08 & Assessment Year: 2008-09 & Assessment Year: 2009-10 Rasiklal Hiralal & Co. P. Ltd., Ito 4(3)(2) Ec-4051 & 4053 Bharat Aayakar Bhavan बनाम/ Diamond Bourse, Bkc Mumbai- Vs. Bandra (E) Mumbai-400051 (Assessee) (Revenue) P.A. No.Aaacr1854J "नधा"रती क" ओर से / Assessee By Smt. Arti Visanji & Shri Vijay Kumar S. Biyani (Ar) Shri B.S. Bist (Sr. Dr) राज"व क" ओर से / Revenue By 16/06/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 29/06/2016

…GP rate shall shoot up to a very high and unreasonable figure. She alternatively submitted that in any case purchases cannot be disallowed in full. She relied upon the judgment of Honb’le Bombay High Court in the case of CIT v. Nikunj Exim Enterprises P. Ltd. 372 ITR 619 and judgment of the tribunal in the case of ACIT v. Say India Jewellers in ITA No.6735/Mum/2010 dated 08.08.2014 and Shri Jigar Shah (ITA NO.1223/Mum/2014 dated 22.01.2016. 9 Rasiklal Hiralal & Co. P. Ltd. 4.6. Per contra Ld. DR submitted that this is a case of bogus purchases. The disallowance was rightly made by the AO and confirmed by the Ld.…

Rasiklal Hiralal & Co. P.Ltd, Mumbai vs. ITO 4(3)(2), Mumbai

In the result, this appeal is partly allowed for statistical purposes in terms of our directions as discussed above

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2007-08 & Assessment Year: 2008-09 & Assessment Year: 2009-10 Rasiklal Hiralal & Co. P. Ltd., Ito 4(3)(2) Ec-4051 & 4053 Bharat Aayakar Bhavan बनाम/ Diamond Bourse, Bkc Mumbai- Vs. Bandra (E) Mumbai-400051 (Assessee) (Revenue) P.A. No.Aaacr1854J "नधा"रती क" ओर से / Assessee By Smt. Arti Visanji & Shri Vijay Kumar S. Biyani (Ar) Shri B.S. Bist (Sr. Dr) राज"व क" ओर से / Revenue By 16/06/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 29/06/2016

…GP rate shall shoot up to a very high and unreasonable figure. She alternatively submitted that in any case purchases cannot be disallowed in full. She relied upon the judgment of Honb’le Bombay High Court in the case of CIT v. Nikunj Exim Enterprises P. Ltd. 372 ITR 619 and judgment of the tribunal in the case of ACIT v. Say India Jewellers in ITA No.6735/Mum/2010 dated 08.08.2014 and Shri Jigar Shah (ITA NO.1223/Mum/2014 dated 22.01.2016. 9 Rasiklal Hiralal & Co. P. Ltd. 4.6. Per contra Ld. DR submitted that this is a case of bogus purchases. The disallowance was rightly made by the AO and confirmed by the Ld.…

G.L. Constructions P.Ltd, Mumbai vs. DCIT 8(1) Or DCIT City 8, Mumbai

In the result, appeal of assessee is allowed in part, in terms indicated hereinabove

…was information with the sales tax authority regarding supplier being non- genuine. Reliance was placed by ld. AR on the decision of Hon’ble Delhi High Court in the case of Sunrise Tolling Pvt. Ltd., 361 ITR 206, Bombay High Court in the case of Nikunj Exim, 372 ITR 619 and Babulal Borana, 282 ITR 251 (Bom HC), Gujarat High Court in the case of Atma Prakash Batra, 340 ITR 177 and Sumit P Sheth, 356 ITR 451. It was further contended that no material was found during survey with regard to any bogus purchases nor books of account was rejected, therefore, when the AO has accepted the corresponding sales/utilisation…

Pravina Ruparel, Mumbai vs. ITO 7(3)(3), Mumbai

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh, Assessment Year: 2010-11

…from Sales Tax Department. 2. During hearing of this appeal, Shri D. C. Jain, ld. counsel for the assessee, contended that the impugned issue is covered by the decision from Hon’ble Bombay High Court in the case of CIT vs Nikunji/Exim Enterprises Pvt. Ltd. (372 ITR 619)(Bom.). However, the ld. DR, Shri Om Prakash Meena, contended that facts in the case before Hon’ble High Court are different, therefore, the ration laid down therein is not applicable to the facts of the present assessee. In reply, the ld. counsel for the assessee, contended that considering the facts of the present appeal, some reasonable disall…

Adamji & Co., Mumbai vs. ITO WD 20(1)(1), Mumbai

In the result, assessee’s appeal is allowed

Bench: Shri Saktijit Dey & Shri Ramit Kochar

…./2017, dated 20th August 2014; ii) ITO v/s Ashok Talreja, ITA no.4629/Mum./2014 & Ors, dated 17th March 2016; 6 Adamji & Company iii) ACIT v/s Ramila Pravinshah, ITA no.524/Mum./2013, dated 5th March 2015; and iv) CIT v/s Nikunj Exim Enterprises Pvt. Ltd., 372 ITR 619. 7. Learned Departmental Representative on the other hand relying upon the observations of the learned Commissioner (Appeals) submitted, since on the basis of information obtained from Sales Tax Department, it was found that the concerned parties from whom the assessee claimed to have purchased goods are only providing accommodation bills and hav…

Vision, Mumbai vs. ACIT 19(3), Mumbai

In the result, the assessee’s for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainm/S. Vision A C I T, Circle 19(3) 49/2358, 1St Floor, Bandra Mumbai Saikrupa Co-Op Housing Vs. Society Ltd., Bandra (E) Mumbai 400051 Pan - Aaefv5389H Appellant Respondent

…the factual matrix of the assessee’s in the case on hand to be similar to the facts of the above mentioned cases and therefore respectfully following the decision of the Hon'ble Bombay High Court in the case of CIT vs. Nikunj Eximp Enterprises (P) Ltd. (2013) 372 ITR 619 (Bom) and of the Hon'ble Gujarat High Court in the case of CIT vs. Mundra Port and Sez Ltd. (2014) 45 taxmann.com 381 (Guj) we hold in favour of the assessee and direct the AO to delete the disallowance of `48,49,624/- claimed by the assessee as payment for professional services rendered by Nova Corporate Services P. Ltd. and consequently allow t…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…

ACIT Cen Cir 13, Mumbai vs. Asian Star Company Ltd, Mumbai

In the result, all appeals of the revenue as well as cross objections of the assessee are dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita Nos.4404 To 4410/Mum/2014 (नििाारण वषा / Assessment Years :2005-06 To 2011-2012) Acit, Central Circle-13, Room Vs. M/S Asian Star Company No.1103, 11Th Floor Old Cgo Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Building (Annex.) M.K.Road, Mumbai-400020 Nariman Point, Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection Nos.196, 198 To 201/Mum/2015 (Arising Out Of Ita Nos.4404,4408,4406,4405&4407/M/2014) (नििाारण वषा / Assessment Years :2005-06, 2006-07 & 2008-09) M/S Asian Star Company Vs. Acit, Central Circle-13, Room No.1103, 11Th Floor Old Limited, 114/116, Mittal Court, C-Wing, 11Th Floor, Cgo Building (Annex.) Nariman Point, Mumbai- M.K.Road, Mumbai-400020 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaaca 4856 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri B.Pruseth ननधाारयती की ओर से /Assessee By : Shri Rakesh Joshi सुनवाई की तायीख / Date Of Hearing : 30/12/2015 घोषणा की तायीख/Date Of Pronouncement /2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue & Cross Objection By The Assessee Against The Order Of Cit(A), Mumbai, For The Assessment Years 2005-06 To 2011-12. 2

…ppear and also with respect to part of the expenses incurred on processing charges. 14. With regard to the decline of purchases as bogus, ld. AR relied on the decision of Hon’ble Bombay High Court in the case of CIT Vs. M/s Nikunj Eximp Enterprises Pvt. Ltd., 372 ITR 619 and Hon’ble Gujarat High Court in the case of CIT Vs. M.K.Brothers, 30 taxman 547. It was further contended that purchases cannot be held to be bogus merely on the plea that non-appearing of the suppliers before the AO and for this purpose reliance was placed on decision of the coordinate bench in the case of Shri Ganpatraj A. Sanghavi Vs. ACIT,…