CIT v. Vijay M. Mistry Construction Ltd.

Asst CIT Circle-11 (2)(1), Mumbai vs. M/S Shriji Kraft Decorators Pvt Ltd., Mumbai

In the result, appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 5.3.29 In the case of Vijay Proteins (supra), the Hon'ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties…

Asst CIT Circle-11 (2)(1), Mumbai vs. M/S Shriji Kraft Decorators Pvt Ltd., Mumbai

In the result, appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 5.3.29 In the case of Vijay Proteins (supra), the Hon'ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties…

ITO 8 (2)(1), Mumbai vs. Bhairav Steel Enterprises Pvt. Ltd., Mumbai

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4126/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2009-10) Ito 8(2)(1) बिधम/ Bhairav Steel Enterprises Room No.259/A,2Nd Floor, Pvt. Ltd. Vs. Aayakar Bhavan, M. K. 10, Kanti Nagar, A/30, Road, Mumbai-400020. Rajgruhi, Behind J. B. Nagar, Andheri Kurla Road, Andheri (E), Mumbai- 400059. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacb9118K (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Rajendra Joshi (Dr) Assessee By: Shri Rajiv Khandelwal सुनवाई की तारीख / Date Of Hearing: 03/12/2020 घोषणा की तारीख /Date Of Pronouncement: 01/03/2021 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 25.03.2019 Passed By The Commissioner Of Income Tax (Appeals) -16, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2009- 10. 2. The Revenue Has Raised The Following Grounds: -

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon’ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 6.2.23. In the case of Vijay Proteins (supra), the Hon’ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even 20 A.Y.2009-10 though payments were made to…

ITO 19(2)(3), Mumbai vs. Mr. Madhukar Yashwant Kutrekar, Mumbai

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

Bench: Shri C.N. Prasad, Hon'Bleincome Tax Officer – 19(2)(3) V. Shri Madhukar Yashwant Kutrekar 196K, Gaiwadi, Jss Road Room No. 218, 2Nd Floor Girgaon, Mumbai - 400004 Matru Mandir, Tardev Road Mumbai – 400 007 Pan: Aadpk8434B (Appellant) (Respondent) Chaitee Londhe Assessee By : Department By Shri Sanjay J. Sethi

…nly the profit element embedded in such purchases can be added to the income of the assessee. So much is clear by the decision of this court. In particular, the court has also taken a similar view in the case of CIT v. Vijay M. Mistry Construction Ltd. [2013] 355 ITR 498 (Guj) and in the case of CIT v. Bholanath Poly Fab (P.) Ltd. [2013] 355 ITR 290 (Guj). The view taken by the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [996] 58 ITD 428 (Ahd.) came to be approved. 8. If the entire purchases were wholly bogus and there was a finding of fact on record that no purchases were made at all, counsel for t…

ITO 21 (3)(1), Mumbai vs. Ramesh B Musale, Mumbai

In the result, the appeal is dismissed

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2010-11 Ito-21(3)(1), Ramesh B Musale, Room No. 207, 2Nd Floor, Vs. Room No.-382, Ground Floor, Piramal Chambers, Lalbaug, Adarsh Nagar, Building No. 23, Mumbai-400012. Prabhadevi, Mumbai-400025. Pan No. Ajtpm 0744 R Appellant Respondent Revenue By : Ms. Smita Verma, Dr Assessee By : None Date Of Hearing : 11/01/2021 Date Of Pronouncement : 18/01/2021

…position, not the entire purchase price but only the profit element embedded in such purchases can be added to the income of the assessee. The Hon’ble High Court referred to a similar view taken in the case of CIT vs. Vijay M. Mistry Construction Ltd. [2013] 355 ITR 498 (Guj) and CIT vs. Bholanath Poly Fab (P) Ltd. [2013] 355 ITR 290 (Guj). 5 Ramesh B Musale In view of the above factual scenario and position of law, we affirm the order of the Ld. CIT(A). 7. In the result, the appeal is dismissed. Order pronounced in the open Court on 18.01.2021. (C.N. PRASAD) ACCOUNTANT MEMBER Mumbai; Dated: 18.01.2021 Alindra,…

DCIT-7(2)(2), Mumbai vs. M/S. New Age Fire Protection Engineering Pvt. Ltd., Mumbai

In the result, appeal of the revenue is dismissed

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm Dcit – 7(2)(2) Vs. M/S. New Age Fire Protection Mumbai Engineering Pvt. Ltd., Room No.126B, First Floor 101/102, Champaklal Udyog Aayakar Bhavan Bhavan M.K.Road, Sion (E) Mumbai – 400 020 Mumbai – 400 022 Pan/Gir No.Aaccn9026C (Appellant) .. (Respondent)

…it element was estimated at 25% and accordingly, the ld. AO made an addition of Rs.8,98,003/- in the assessment. The ld. CIT(A) by placing reliance on the decision of the Hon’ble Gujarat High Court in the case of Vijay M Mistry Constructions Ltd., reported in 355 ITR 498 and yet another decision of Hon’ble Gujarat High Court in the case of CIT vs. 3 M/s. New Age Fire Protection Engineering Pvt. Ltd., Simit P Sheth reported in 38 taxmann.com 385 determined the profit element embedded in the value of said disputed purchases to be at 12.5% and granted relief accordingly to the assessee. 4. Aggrieved by this order…

DCIT Cirlce-3, Thane vs. Shri. Shreekumar Janardan Unnithan, Thane

In the result these appeals filed by the revenue stand dismissed

…ntire purchases but only the profit 3 Shri Sreekumar Janardhan Unnithan element embedded in such purchases can be added to the income of the assessee. Similar view has been taken by the Gujarat High Court in the cases of Vijay M Mistry Construction Pvt Ltd (355 ITR 498), Bholanath Polyfab (P) Ltd (355 ITR 290) and Vijay Proteins Ltd (58 taxmann 44). Considering the facts of case and in view of various decisions as discussed above, it is held that only profit element of 18.47% embedded in the bogus purchases of Rs 3,71,540/-, that is Rs 68,623/- is to be added to the income of the appellant. Accordingly the disa…

ACIT - 32 (3), Mumbai vs. Rajiv R. Ahuja, Mumbai

In the result, this appeal filed by the Revenue stands dismissed

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'bie Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj.) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 6.2.30 In the case of Vijay Proteins (supra), the Hon’ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties…

ITO Ward 1 (5), Thane vs. Shri. Deju Gudda Bolar, Thane

In the result, appeal filed by the revenue for assessment year 2009-10,

Bench: Shri M Balaganesh (Am) & Shri Ram Lal Negi (Jm)

…ince the AO had estimated the profits on such transactions by following the ratio laid down by the Hon’ble Gujarat High Court in the case of CIT vs. Simit P Seth, 356 ITR 290, M/s Bholenath Poly Fab Pvt. Ltd., 355 ITR 290 and Vijay M. Mistry Construction Ltd. 355 ITR 498 and the decision of the Ahmadabad Bench of the ITAT in the case of Vijay Proteins, 58 ITD 482, the Ld CIT(A) ought to have confirmed the penalties levied by the AO. 5. On the other hand the Ld counsel for the assessee supporting the order passed by the Ld. CIT(A) submitted that since the AO had made addition on estimation, the Ld CIT(A) has right…

ACIT 24 (2), Mumbai vs. Juneja Global, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

Bench: Shri Amarjit Singh, Jm & Shri N. K. Pradhan, Am आयकर अपील सं/ I.T.A. No.5502/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) Acit-24(2) बिधम/ M/S. Juneja Global A/36, Midc, 2Nd Street, Income Tax-24(2), Room Vs. No. 413, Piramal Chambers, Andheri (E), Mumbai- Lalbaug, Parel, Mumbai- 400093. 400012. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaafj1087C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Choudhary Arunkumar Singh (Dr) Assessee By: Shri Bipin B. Shah (Ar) सुनवाई की तारीख / Date Of Hearing: 30/01/2020 घोषणा की तारीख /Date Of Pronouncement: 09/07/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 31.05.2018 Passed By The Commissioner Of Income Tax (Appeals) -36, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2011- 12. 2. The Revenue Has Raised The Following Grounds: -

…income of the assessee. So much is clear by the decision of 7In particular, the court has also taken a similar view in the case ofCIT v Vijay M Construction Ltd. Vide order dated January 10,2011 passed in Tax Appeal No. 1090 of 2009 - since reported in [2013] 355 ITR 498(Guj) and in the case ofCIT v Bholanath Poly Fab P Ltd, vide order dated October 23, 2012, passed in Tax Appeal No. 63 of 2012 - since reported in [2013] 355 ITR 290 (Guj). The view taken by the Tribunal in the case of Vijay Proteins Ltd v. Asstt. CIT[1996] 58 JTD 428 (Ahd) came to be approved. If the entire purchases were wholly bogus and there w…

M/S Hbd Machines Manufacturing Corpn., Mumbai vs. ITO Ward 18(1)(5), Mumbai

In the result, appeal filed by the assessee is partly allowed

Bench: Shri G. Manjunatha & Shri Ravish Soodhbd Machines Manfacturing Vs. Ito,Ward-18(1)(5) Corpn. Room No.619 & 634 G2/G3, Fort Chamber, Aaykar Bhawan Ambalal Doshi Marg M.K.Road Homi Mody Cross Lane No.2 Mumbai-400 020 Fort, Mumbai-400 001 Pan/Gir No.Aacfh0879A Appellant) .. Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H”, BENCH MUMBAI BEFORE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER & SHRI RAVISH SOOD, JUDICIAL MEMBER HBD Machines Manfacturing Vs. ITO,Ward-18(1)(5) Corpn. Room No.619 & 634 G2/G3, Fort Chamber, Aaykar Bhawan Ambalal Doshi Marg M.K.Road Homi Mody Cross Lane No.2 Mumbai-400 020 Fort, Mumbai-400 001 PAN/GIR No.AACFH0879A Appellant) .. Respondent) Assessee by Ms. Arti Sathe, AR Revenue by Shri R.Bhoopathi, DR Date of Hearing 05/03/2020 Date of Pronouncement 20/05/2020 आदेश आदेश / O R D E R आदेश आदेश PER G.MANJUNATHA (A.M): This appeal filed by the assessee is directed against…

Shobhagadevi, Mumbai vs. ITO-19(3)(3), Mumbai

In the result, appeal of the assessee is partly allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blesmt Shobhagadevi Amritlal Jain V. Income Tax Officer – 19(3)(3) 56/72, Room No. 6 Room No. 224, Matru Mandir Durgadevi Street, Asma Building Tardev Road, Mumbai – 400 007 Mumbai-400 004 Pan: Adlpj7969H (Appellant) (Respondent) Assessee By : Shri Dhaval Shah Department By : Shri Udaya B. Jakke

…nly the profit element embedded in such purchases can be added to the income of the assessee. So much is clear by the decision of this court. In particular, the court has also taken a similar view in the case of CIT v. Vijay M. Mistry Construction Ltd. [2013] 355 ITR 498 (Guj) and in the case of CIT v. Bholanath Poly Fab (P.) Ltd. [2013] 355 ITR 290 (Guj). The view taken by the Tribunal in the case of Vijay Proteins Ltd. v. Asstt. CIT [1996] 58 ITD 428 (Ahd.) came to be approved. If the entire purchases were wholly bogus and there was a finding of fact on record that no purchases were made at all, 7 Smt Shobhaga…

Greenfield India Heavy Fabricators Pvt. Ltd., Dombivali vs. ACIT -Circle- 1, Kalyan

In the result, the appeal is partly allowed

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2012-13

…position, not the entire purchase price but only the profit element embedded in such purchases can be added to the income of the assessee. The Hon’ble High Court referred to a similar view taken in the case of CIT vs. Vijay M. Mistry Construction Ltd. [2013] 355 ITR 498 (Guj) and CIT vs. Bholanath Poly Fab (P) Ltd. [2013] 355 ITR 290 (Guj). Having regard to the facts and circumstances of the case, we set aside the order of the Ld. CIT(A) and direct the AO to estimate the profit @ 12.5% on the disputed amount of Rs.1,08,732/- and bring to tax Rs.13,590/- only. Thus the 2nd to 6th ground of appeals are partly all…

DCIT Cirlce-2, Thane vs. Shir Pahadsingh L Rajput, Thane

In the result, appeal filed by the Revenue stands dismissed and cross-objections filed by the assessee stands dismissed as withdrawn

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH MUMBAI BEFORE SHRI RAJESH KUMAR, AM & SHRI AMARJIT SINGH, JM ITA Nos.368 & 369/Mum/2019 (Assessment Year. 2010-11) DCIT, Circle-2 Vs. Shri Pahadsingh L. Rajput Room No.27, 6th Floor, B- D-8, Sujata Shoping Centre Wing, Wagle Industrial Navghar Road, Bhayander (E), Estate, Thane(W)-400604. Thane-401104. Cross Objection Nos.08 & 09/Mum/2020 (Arising out of ITA Nos.368 & 369/Mum/2019) (Assessment Year.2010-11) Shri Pahadsingh L. Rajput Vs. DCIT, Circle-2 Room No.27, 6th Floor, B- D-8, Sujata Shoping Centre Navghar Road, Bhayander (E), Wing, Wagle Industrial Thane-40110…

ITO 32(1)(5), Mumbai vs. Smt. Hina Arvind Shah, Mumbai

In the result, appeal of the revenue is dismissed

Bench: Shri R.C.Sharmai.T.O.-32(1)(5), Vs. Smt. Hina Arvind Shah, Room No. 203, 2Nd Floor, B-14, Rajdeep Co-Op Hsg C-11, Pratyakshkar Society, Carter Road No. 01, Bhavan, Bandra Kurla Boriwali (E), Mumbai- Complex, Bandra (E), 400066. Mumbai-400051. Pan/Gir No. Bfdps 6261 J (Appellant) .. (Respondent)

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 Guj.) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 6.1.31 In the case of Vijay Proteins (supra), the Hon'ble ITAT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties…

ITO-8(2)(4), Mumbai vs. Sunbeam Monochem Pvt Ltd, Mumbai

In the result, appeal of the revenue is dismissed

Bench: Shri R.C.Sharmai.T.O.-8(2)(4), Vs. M/S Sunbeam Monochem Room No. 618, 6Th Floor, Pvt. Ltd., Aayakar Bhawan, M.K. 201/B, Runwal & Omkar Road, Mumbai-400020. Esquare, Opp. Sion Chunabhatti Signal, Eastern Express Highway, Sion (E), Mumbai-400022. Pan/Gir No.Aabcs 8172 P (Appellant) .. (Respondent)

…uncements, the ld. CIT(A) has restricted the addition to the extent of 12.5% mainly relying on the decision of Hon’ble Gujarat High Court in the case of CIT Vs Simit Sheth (2013) 38 Taxmann.com 385 (Guj) and in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj). After considering various judicial pronouncements and the facts of the case, 3 ITO Vs Sunbeam Monochem P Ltd. the ld. CIT(A) found that 12.5% addition in respect of bogus purchases will serve the end of justice. Nothing was brought on record so as to persuade me to deviate from the findings of the ld. CIT(A) in restricting the addition…

Shri Rameshkumar Savalachand Jain, Mumbai vs. Income Tax Officer 19(3)(1), Mumbai

In the result, appeal filed by the assessee for AY 2009-10 is partly allowed

Bench: Shri G. Manjunatha & Shri Ravish Soodramesh Kumar Savalchand Vs. Ito-19(3)(1) Jain Room No.202, Matru Mandir, 2Nd Floor Prop: M/S. Mahalaxmi Steel Industreis Tardeo 53/57, Bhandari Street, Shop Mumbai-400 007 No.4, 1St Kumbharwada Lane Mumbai-400 004 Pan/Gir No.Aacpj0692D (Appellant) .. (Respondent) &

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon’ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, P"AT in the case of Vijay Proteins 58 ITD 428. 6.9 Hon'ble Gujarat High Court in the case of CFT vs. Simit P. Sheth 356 ITR 451 (Guj), upheld the decision of the ITAT, which confirmed the addition @12.5% of the total bogus purchase. Taking into account the facts of the case, the Hon'ble…

Ramesh Kumar Savalchand Jain, Mumbai vs. ITO - 19 (3)(1), Mumbai

In the result, appeal filed by the assessee for AY 2009-10 is partly allowed

Bench: Shri G. Manjunatha & Shri Ravish Soodramesh Kumar Savalchand Vs. Ito-19(3)(1) Jain Room No.202, Matru Mandir, 2Nd Floor Prop: M/S. Mahalaxmi Steel Industreis Tardeo 53/57, Bhandari Street, Shop Mumbai-400 007 No.4, 1St Kumbharwada Lane Mumbai-400 004 Pan/Gir No.Aacpj0692D (Appellant) .. (Respondent) &

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon’ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, P"AT in the case of Vijay Proteins 58 ITD 428. 6.9 Hon'ble Gujarat High Court in the case of CFT vs. Simit P. Sheth 356 ITR 451 (Guj), upheld the decision of the ITAT, which confirmed the addition @12.5% of the total bogus purchase. Taking into account the facts of the case, the Hon'ble…

ITO 29(2)(1), Mumbai vs. Shri Ketan Dhirajlal Gada, Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S.Rifaur Rahman & Shri Ram Lal Negi

…embedded in such purchases could be added to the assessee's income and as such no question of law arose in such estimation. While arriving at the above conclusion, the Hon'ble Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 ITR 498 (Guj) and further approved the decision of Ahmedabad Bench, IT AT in the case of Vijay Proteins 58ITD 428. In the case of Vijay Proteins (supra), the Hon'ble IT AT was seized with a case of bogus suppliers of oil cakes where 33 parties were found to be bogus by the departmental authorities even though payments were made to the said parties by cro…