DCIT v. Sharp Mint Ltd.

159 Taxmann.com 1381High Court2024#4980 most cited

What is DCIT v. Sharp Mint Ltd. authority for?

An ad hoc disallowance of purchases cannot be made if the corresponding sales have been accepted. Excluding both purchases and sales where transactions are fictitious would result in profits lower than the returned income.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2025 to 2026.

Also referred to as

DCIT v Sharp Mint Ltd · accommodation entries · circular trading · ad hoc disallowance · purchases · sales accepted · section 68 · section 69c · beneficial owner

Sections most often in play

Section 147Section 143(3)Section 148Section 132Section 133(6)Section 68Section 115JBSection 292C
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Issues it is cited on

circular tradingbeneficial ownersection 292centry operatoraddition under section 68section 292erroneous and prejudicialdocuments seizedsection 29section 69csection 133commissioner (appeals)

Judgments citing DCIT v. Sharp Mint Ltd.

Balmukund Sponge & Iron Pvt. Ltd., Patna vs. DCIT, Central Circle 4(3), Kolkata

The appeal of the revenue is dismissed

ITA 1395/KOL/2025[2015-2016]Status: DisposedITAT Kolkata09 Dec 2025AY 2015-2016

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

Section 115JSection 132Section 147Section 148Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA Nos.1595, 1596, 1597, 1598/KOL/2025 (Assessment Years: 2015-16, 2016-17, 2017-18, 2018-19) DCIT 110, Shantipally, Kolkata-700107, West Bengal Vs. Balmukund Sponge and Iron Private Limited LUV Kush Tower, Exhibition Road, Phulwari, Patna-800001, Bihar (Appellant) (Respondent) PAN No. AACCM4451E ITA Nos.1395, 1396, 1397, 1398/KOL/2025 (Assessment Year: 2015-16, 2017-18, 2018-19, 2023-24) Balmukund Sponge and Iron Private Limited LUV Kush Tower, Exhibition Road, Phulwari, Vs. DCIT 110, Shantipal…

Sujata Makhal, Howrah vs. ITO, Ward - 47(1), Kolkata

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

ITA 104/KOL/2025[2018-19]Status: DisposedITAT Kolkata24 Jun 2025AY 2018-19

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 133(6)Section 144Section 147Section 148Section 250

…आयकर अपीलीय अधिकरण कोलकाता 'डी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘D’ BENCH, KOLKATA श्री प्रदीप कुमार चौबे, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 104/KOL/2025 Assessment Year: 2018-19 Sujata Makhal ITO, Ward-47(1), Kolkata Vs. (Appellant) (Respondent) PAN: AFTPM0621F Appearances: Assessee represented by : Miraz D. Shah, AR. Department represented by : S.B. Chakraborty, Addl. CIT, Sr. DR Date of concluding the hearing : 19-June-2025 Date of pronouncing the order : 24…

Gopal & Sons HUF, Kolkata vs. I.T.O., Ward - 32(1), Kolkata

The appeal of the revenue is dismissed

ITA 1701/KOL/2024[2006-2007]Status: DisposedITAT Kolkata08 Jan 2025AY 2006-2007

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri Manish Rastogi, ARFor Respondent: Shri Pankaj Pandey, DR
Section 115JSection 132Section 147Section 148Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA Nos.1595, 1596, 1597, 1598/KOL/2025 (Assessment Years: 2015-16, 2016-17, 2017-18, 2018-19) Balmukund Sponge and Iron DCIT Private Limited 110, Shantipally, LUV Kush Tower, Vs. Kolkata-700107, West Bengal Exhibition Road, Phulwari, Patna-800001, Bihar (Appellant) (Respondent) PAN No. AACCM4451E ITA Nos. 1395, 1396, 1397, 1398/KOL/2025 (Assessment Year: 2015-16, 2017-18, 2018-19, 2023-24) Balmukund Sponge and Iron Private Limited DCIT LUV Kush Tower, 110, Shantipally, Vs. Exhibition Road, Phulw…