N.K. Industries Ltd. v. DCIT

72 Taxmann.com 289High Court2016#812 most cited

What is N.K. Industries Ltd. v. DCIT authority for?

When there is a categorical finding that purchases are bogus and from fictitious suppliers, the Assessing Officer is justified in making a 100% addition of the bogus purchase amount under Section 69C, rather than restricting the disallowance to merely the profit margin. This position has been upheld by the Supreme Court through the dismissal of the assessee's SLP.

127

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2026.

Also referred to as

N.K. Industries Ltd. v. DCIT · Section 69C · bogus purchases · unexplained expenditure · 100% addition · fictitious suppliers · disallowance of purchases · profit margin · rejection of books of account · Section 145(3)

Sections most often in play

Section 69CSection 147Section 148Section 133(6)Section 143(3)Section 142(1)Section 68Section 145(3)

Issues it is cited on

section 158bcpenny stockunexplained expenditureentry operatorsection 145(3)section 132(4a)section 69csection 145rejection of books of accountprincipal commissioner of income-taxaccommodation entryborrowed satisfaction

Judgments citing N.K. Industries Ltd. v. DCIT

Dinesh Haldia, Jaipur vs. DCIT Circle 1, Jaipur

In the result, the appeal of the assessee is partly allowed

ITA 384/JPR/2024[2007-08]Status: DisposedITAT Jaipur30 Jul 2024AY 2007-08

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Dheeraj Borad, CAFor Respondent: Sh. Arvind Kumar, CIT
Section 132(1)Section 133ASection 139(1)Section 153ASection 260ASection 69C

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 384/JP/2024 fu/kZkj.k o"kZ@Assessment Years : 2007-08 cuke Shri Dinesh Haldia DCIT, Vs. 150, Haldia House, Circle-01, Jaipur Johari Bazar, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAKPH 9237 Q vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Dheeraj Borad, CA jktLo dh vksj ls@ Revenue by : Sh. Arvi…

Rohit Vallabhadas Shah, Mumbai vs. Income Tax Office-32(1)(7), Mumbai

In the result, appeal filed by the assessee is dismissed

ITA 4202/MUM/2023[2010-11]Status: DisposedITAT Mumbai03 May 2024AY 2010-11

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Blerohit Vallabhdas Shah V. Income Tax Officer – 42(1)(4) B-303, Dwarka Apartment Kautilya Bhavan Daulat Nagar, Borivali (E) Bandra Kurla Complex Mumbai – 400066 Bandra (E), Mumbai - 400051 Pan: Accps2392B (Appellant) (Respondent) Assessee Represented By : Shri Anil Thakrar Department Represented By : Smt Mahita Nair

Section 143(2)

…h have to see is whether the Assessing Officer is justified in making 100% addition of the bogus purchase amount or he should have added only the profit margin earned by the assessee. The Hon’ble Gujarat High Court in the case of N.K. Industries Ltd., [(2016) 72 Taxmann.com 289] has held that once it comes to a categorical finding that the amount represents alleged bogus purchases from bogus suppliers it is not incumbent to restrict the disallowance and thereby directed to make addition of 100% of the alleged bogus purchases. The SLP preferred by the assessee against this decision of the Hon’ble High Court has be…

Shanno Mohammed Yusuf Warsi, Mumbai vs. Income Tax Officer-25(1)(3), Mumbai

In the result, the appeal

ITA 1306/MUM/2023[2013-2014]Status: DisposedITAT Mumbai26 Feb 2024AY 2013-2014

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

For Appellant: Mr. Pankaj SoniFor Respondent: Mr. Manoj Kumar Singh, Sr. DR
Section 147Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) Assessment Year: 2013-14 Shanno Mohammed Yusuf Warsi, Income Tax Officer-25(1)(3), 1A, 101, Sangeeta Apts, Panch 4th floor, Building C-10, Room Marg, Off Yari Road, Versova Vs. No. 404, Pratyaksha Kar Andheri West, Mumbai-400058. Bhavan, Bandra Kurla Complex, Mumbai-400051. PAN NO. AAJPW 0272 F Appellant Respondent Assessee by : Mr. Pankaj Soni Revenue by : Mr. Manoj Kumar Singh, Sr. DR Date of Hearing : 14/02/2024 : Date of pronouncement 26/02/2024 ORDER…

The DCIT, Circle-1 (1), Rajkot vs. M/S. Dhruv Craft Mill Pvt. Ltd., Village: - Lilapar, Tal. & Dist. Morbi

In the result, both the appeals filed by the Revenue are hereby dismissed

ITA 207/RJT/2022[2015-16]Status: DisposedITAT Rajkot03 Nov 2023AY 2015-16

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143Section 143(1)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (Conducted Through Virtual Court) Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos: 206 & 207/Rjt/2022 Assessment Years: 2014-15 & 2015-16 The DCIT, Circle-1(1), M/s. Dhruv Craft Rajkot Mill Pvt. Ltd., Vs Sr. No. 285, (Appellant) Nr. Fact Paper, Tal-Morbi, Lalapar 363641 PAN No: AADCD6851E (Respondent) Revenue Represented: Shri Ashish Kumar Pandey, Sr. D.R. Assessee Represented: Shri Mehul Ranpura, A.R. Date of hearing : 20-09-2023 Date of pronouncement : 03-11-2023 आदेश/ORDER PER : T.R. SENTHIL…

The DCIT, Circle-1 (1), Rajkot vs. M/S. Dhruv Craft Mill Pvt. Ltd., Village: - Lilapar, Tal. & Dist. Morbi

In the result, both the appeals filed by the Revenue are hereby dismissed

ITA 206/RJT/2022[2014-15]Status: DisposedITAT Rajkot03 Nov 2023AY 2014-15

Bench: Shri Waseem Ahmed (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143Section 143(1)Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (Conducted Through Virtual Court) Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos: 206 & 207/Rjt/2022 Assessment Years: 2014-15 & 2015-16 The DCIT, Circle-1(1), M/s. Dhruv Craft Rajkot Mill Pvt. Ltd., Vs Sr. No. 285, (Appellant) Nr. Fact Paper, Tal-Morbi, Lalapar 363641 PAN No: AADCD6851E (Respondent) Revenue Represented: Shri Ashish Kumar Pandey, Sr. D.R. Assessee Represented: Shri Mehul Ranpura, A.R. Date of hearing : 20-09-2023 Date of pronouncement : 03-11-2023 आदेश/ORDER PER : T.R. SENTHIL…

DCIT, Central Circle-25, New Delhi vs. Hh Interior & Auto Components Pvt Ltd, New Delhi

In the result, the appeal of the Revenue is partly allowed as indicated above

ITA 2847/DEL/2022[2015-16]Status: DisposedITAT Delhi31 Oct 2023AY 2015-16

Bench: Shri Challa Nagendra Prasada N D Shri M. Balaganesh

For Appellant: Shri Vivek Kumar Upadhyay
Section 133ASection 143(3)Section 147

…I.T.A. No. 2847/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “B” : DELHI ] BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER A N D SHRI M. BALAGANESH, ACCOUNTANT MEMBER आ.अ.सं./ I.T.A No.2847/Del/2022 िनधा"रणवष"/Assessment Year: 2015-16 ACIT, HH Interior & Auto बनाम Central Circle : 25, Components Pvt. Ltd., Vs. New Delhi. 12-A, Indraprakash Building, Barakhamba Road, New Delhi – 121 001, PAN No. AAACK4360J अपीलाथ" /Appellant ""यथ"/Respondent N o n e; िनधा"रतीक"ओरसे /Assessee by : Shri Vivek Kumar Upadhyay, राज"वक"ओरसे / Department by Sr. D. R.; : 24/08/2023 सुनवाईक"तारीख/ Date of hearing :…

ACIT Central Circle-2(1), Mumbai vs. M/S. G Nine Modular Pvt. Ltd., Mumbai

In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are dismissed

ITA 3214/MUM/2022[2017-18]Status: DisposedITAT Mumbai28 Apr 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

For Appellant: Mr. Naresh Jain, ARFor Respondent: Dr. Kishor Dhule, CIT-DR

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) ITA No. 3212, 3213 & 3214/MUM/2022 Assessment Years: 2015-16, 2016-17 & 2017-18 ACIT Central Circle-2(1), M/s G Nine Modular Pvt. Ltd., Old CGO Building, 804, 8th 13 BKT Ind. Park Sector II, Vs. floor, M.K. Road, Gurai Pada, Nr Varun Industry Mumbai-400020. Waliv, Vasai (E), Mumbai-401208. PAN No. AAECG 2664 B Appellant Respondent Assessment Year: 2012-13 ACIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floo…

ACIT Central Circle-2(1), Mumbai vs. M/S. G Nine Modular Pvt. Ltd., Mumbai

In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are dismissed

ITA 3213/MUM/2022[2016-17]Status: DisposedITAT Mumbai28 Apr 2023AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

For Appellant: Mr. Naresh Jain, ARFor Respondent: Dr. Kishor Dhule, CIT-DR

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) ITA No. 3212, 3213 & 3214/MUM/2022 Assessment Years: 2015-16, 2016-17 & 2017-18 ACIT Central Circle-2(1), M/s G Nine Modular Pvt. Ltd., Old CGO Building, 804, 8th 13 BKT Ind. Park Sector II, Vs. floor, M.K. Road, Gurai Pada, Nr Varun Industry Mumbai-400020. Waliv, Vasai (E), Mumbai-401208. PAN No. AAECG 2664 B Appellant Respondent Assessment Year: 2012-13 ACIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floo…

ACIT Central Circle-2(1), Mumbai vs. M/S. G Nine Modular Pvt. Ltd., Mumbai

In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are In the result, all the four appeals of the Revenue are dismissed

ITA 3212/MUM/2022[2015-16]Status: DisposedITAT Mumbai28 Apr 2023AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

For Appellant: Mr. Naresh Jain, ARFor Respondent: Dr. Kishor Dhule, CIT-DR

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) ITA No. 3212, 3213 & 3214/MUM/2022 Assessment Years: 2015-16, 2016-17 & 2017-18 ACIT Central Circle-2(1), M/s G Nine Modular Pvt. Ltd., Old CGO Building, 804, 8th 13 BKT Ind. Park Sector II, Vs. floor, M.K. Road, Gurai Pada, Nr Varun Industry Mumbai-400020. Waliv, Vasai (E), Mumbai-401208. PAN No. AAECG 2664 B Appellant Respondent Assessment Year: 2012-13 ACIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floo…

Shri Rupal Jaian, Jaipur vs. ITO, Ward-1(2), Jaipur

In the result, appeal of the assessee is dismissed

ITA 209/JPR/2020[2014-15]Status: DisposedITAT Jaipur04 Apr 2023AY 2014-15

Bench: The Date Of Appeal.

For Appellant: Shri Saurabh Harsh, AdvocateFor Respondent: Shri Anoop Singh, (Addl. CIT)
Section 10(38)Section 133ASection 142(1)Section 143(2)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER vk;dj vihy la-@ITA No. 209/JP/2020 fu/kZkj.k o"kZ@Assessment Year : 2014-15. cuke Shri Rupal Jalan, The Income Tax Officer, Vs. A-97, Siddharth Nagar, Ward 1(2), Behind Jawahar Circle, Jaipur. Near Jain Mandir, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AGFPJ 5818 G vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Saurabh Harsh, Advocate. jktLo dh vksj ls@ Revenue by : Shri Ano…

Ram Gopal, Hyderabad vs. ITO, Ward-8(2), Hyderabad

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

ITA 572/HYD/2022[2010-11]Status: DisposedITAT Hyderabad14 Mar 2023AY 2010-11

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: C.A MrudulathaFor Respondent: Shri KPRR Murthy, DR
Section 131Section 143(2)Section 143(3)Section 147Section 148

…571 and 572 of 2022 Ram Gopal Hyderabad from the three entities namely AVI Exports, Sun Diam and Mouli Mani Impex Pvt. Ltd. 5. In appeal, the learned CIT (A) relying on the decision of the Hon'ble Gujarat High Court in the case of NK Industries Ltd vs. DCIT 72 Taxmann.com 289, which has been upheld by the Hon'ble Supreme Court, and various other decisions directed the Assessing Officer to restrict the addition to 25% of the bogus purchases of Rs.25,63,834/- i.e., Rs.6,40,958/- by observing as under: “6. Ground Nos. 1, 2 & 3: In ground No. 1, the appellant has challenged that under the facts and circumstances of…

Ram Gopal, Hyderabad vs. ITO Ward-8(2), Hyderabad

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

ITA 571/HYD/2022[2008-09]Status: DisposedITAT Hyderabad14 Mar 2023AY 2008-09

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: C.A MrudulathaFor Respondent: Shri KPRR Murthy, DR
Section 131Section 143(2)Section 143(3)Section 147Section 148

…571 and 572 of 2022 Ram Gopal Hyderabad from the three entities namely AVI Exports, Sun Diam and Mouli Mani Impex Pvt. Ltd. 5. In appeal, the learned CIT (A) relying on the decision of the Hon'ble Gujarat High Court in the case of NK Industries Ltd vs. DCIT 72 Taxmann.com 289, which has been upheld by the Hon'ble Supreme Court, and various other decisions directed the Assessing Officer to restrict the addition to 25% of the bogus purchases of Rs.25,63,834/- i.e., Rs.6,40,958/- by observing as under: “6. Ground Nos. 1, 2 & 3: In ground No. 1, the appellant has challenged that under the facts and circumstances of…

Ram Gopal, Hyderabad vs. ITO Ward-8(2), Hyderabad

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

ITA 514/HYD/2022[2009-10]Status: DisposedITAT Hyderabad14 Mar 2023AY 2009-10

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: C.A MrudulathaFor Respondent: Shri KPRR Murthy, DR
Section 131Section 143(2)Section 143(3)Section 147Section 148

…571 and 572 of 2022 Ram Gopal Hyderabad from the three entities namely AVI Exports, Sun Diam and Mouli Mani Impex Pvt. Ltd. 5. In appeal, the learned CIT (A) relying on the decision of the Hon'ble Gujarat High Court in the case of NK Industries Ltd vs. DCIT 72 Taxmann.com 289, which has been upheld by the Hon'ble Supreme Court, and various other decisions directed the Assessing Officer to restrict the addition to 25% of the bogus purchases of Rs.25,63,834/- i.e., Rs.6,40,958/- by observing as under: “6. Ground Nos. 1, 2 & 3: In ground No. 1, the appellant has challenged that under the facts and circumstances of…

Smt. Meena Agrawal, Bharatpur vs. ITO WD-1, Bhartapur

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 447/JPR/2022[2012-13]Status: DisposedITAT Jaipur20 Feb 2023AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Rajendra Agrawal, CAFor Respondent: Mrs. MonishaChoudhary, Addl. CIT-DR
Section 10(38)Section 148(2)

…e allow the appeal.’’ 2.3 On the other hand, the ld. DR supported the order of the ld.CIT(A) and simultaneously relied upon the following decisions. (1) Pr.CIT vs Swati Bajaj [2022] 139 Taxmann.com 352 (Calcutta) (2) Jawari Lal Lunia vs Union of India [2022] 139 Taxmann.com 406 (Raj.) 2.4 We have heard both the parties and perused the materials available on recording including the case laws cited by both the parties. Brief facts of the case are that the assessee had purchased 50 shares of M/s. RanisatiCommotrade Pvt. Ltd. for a consideration of Rs.500/- in cash from PushpanjaliCommotrade Pvt. Ltd. During the hea…

ITO Ward-7(2), Jaipur, Ward-7(2) vs. M/S. Silvex & Company G-1/35 to 37, 47, 48 Epip, Jewellery Zone, Sitapura Industrial Area, Jaipur

In the result, the appeal of the assessee is allowed and cross appeal of the Revenue is dismissed

ITA 845/JPR/2019[2012-13]Status: DisposedITAT Jaipur28 Oct 2022AY 2012-13
For Appellant: Shri Manish Agarwal(C.A.)For Respondent: Shri P.R. Meena (CIT) a
Section 143(3)Section 145(3)Section 147Section 148Section 250

…आयकरअपीलीय अधिकरण] जयपुरन्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR MkWa- ,l-lhrky{eh] U;kf;dlnL; ,oa Jh jkBksMdeys'kt;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA. No. 834/JP/2019 fu/kZkj.ko"kZ@AssessmentYears :2012-13 M/s Silvex & Company (India) cuke Income Tax Officer, Vs. Ltd., Ward-7(4), G1-35 to 37, 47 & 48 EPIP, Jaipur. Jewellery Zone, Sitapura Industrial Area, Jaipur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAJCS 4492 C vihykFkhZ@Appellant izR;FkhZ@Respondent vk;djvihy la-@ITA. No. 845/JP/2019 fu…

M/S. Silvex & Company India Ltd., Jaipur vs. ITO Ward-7(4), Jaipur

In the result, the appeal of the assessee is allowed and cross appeal of the Revenue is dismissed

ITA 834/JPR/2019[2012-13]Status: DisposedITAT Jaipur28 Oct 2022AY 2012-13
For Appellant: Shri Manish Agarwal(C.A.)For Respondent: Shri P.R. Meena (CIT) a
Section 143(3)Section 145(3)Section 147Section 148Section 250

…आयकरअपीलीय अधिकरण] जयपुरन्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR MkWa- ,l-lhrky{eh] U;kf;dlnL; ,oa Jh jkBksMdeys'kt;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA. No. 834/JP/2019 fu/kZkj.ko"kZ@AssessmentYears :2012-13 M/s Silvex & Company (India) cuke Income Tax Officer, Vs. Ltd., Ward-7(4), G1-35 to 37, 47 & 48 EPIP, Jaipur. Jewellery Zone, Sitapura Industrial Area, Jaipur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAJCS 4492 C vihykFkhZ@Appellant izR;FkhZ@Respondent vk;djvihy la-@ITA. No. 845/JP/2019 fu…

Bardhaman Dharmaraj Paper Mill Pvt. Ltd., Kolkata vs. PCIT- Central, Asansol

In the result, the appeal of the assessee stands allowed

ITA 160/KOL/2021[2014-15]Status: DisposedITAT Kolkata10 Oct 2022AY 2014-15

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.160/Kol/2021 Assessment Year: 2014-15 Bardhaman Dharmaraj Paper Mill Pvt. Ltd.........................................……Appellant C/O Subash Agarwal & Associates, Advocates Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata-700069. [Pan: Aaecb0141J] Vs. Pcit (Central), Asansol......….…..…...................……........……...…..…..Respondent Appearances By: Shri Subash Agarwal, Advocate & Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Md. Ghayasuddin, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 06, 2022 Date Of Pronouncing The Order : October 10, 2022 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 31.03.2021 Of The Principal Commissioner Of Income Tax (Hereinafter Referred To As The ‘Pcit’) Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Brief Facts Are That The Assessment In This Case Of The Assessee Was Reopened U/S 147 Of The Act To Verify The Transactions Of The Assessee With The Party M/S Siddhi Enterprises Due To Discrepancy Found In The Accounts. 3. The Assessing Officer Noted That The Assessee Had Failed To Prove The Genuineness Of The Purchases Made From M/S Siddhi Enterprises. However, He Further Noted That The Assessee Not Only Had Shown Such Purchases In The Books Of Account But Also Had Recorded Corresponding Sales Thereto. Therefore, The Assessing Officer Held That Since The

Section 147Section 263

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘ए’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी मनीष बोरड, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member I.T.A No.160/Kol/2021 Assessment year: 2014-15 Bardhaman Dharmaraj Paper Mill Pvt. Ltd.........................................……Appellant C/o Subash Agarwal & Associates, Advocates Siddha Gibson, 1, Gibson Lane, Suite 213, 2nd Floor, Kolkata-700069. [PAN: AAECB0141J] vs. PCIT (Central), Asansol......….…..…...................……........……...…..…..Respondent Appearances by: Sh…

Sureaksha DB Realty, Mumbai vs. Deputy Commissioner of Income Tax 30(3), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 482/MUM/2018[2011-12]Status: DisposedITAT Mumbai08 Sept 2022AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Suraksha Db Realty The Dy. Commissioner Of Behind Orchid Suburbia, Ground Income-Tax 30(3), Floor, Off; Link Road, Kandivali Room No.601, C-13, Vs. 6Th Floor, Bkc, (West), Mumbai-400 067 Mumbai-400 051 (Appellant) (Respondent) Pan No. Abofs0694R Assessee By : Shri Vijay Mehta, Ar Department By : Shri Op Sharma, Cit Dr

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri OP Sharma, CIT DR
Section 139(1)Section 143(3)Section 148Section 69CSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI SANDEEP SINGH KARHAIL, JM Suraksha DB Realty The Dy. Commissioner of Behind Orchid Suburbia, Ground income-tax 30(3), Floor, Off; Link Road, Kandivali Room No.601, C-13, Vs. 6th Floor, BKC, (west), Mumbai-400 067 Mumbai-400 051 (Appellant) (Respondent) PAN No. ABOFS0694R Assessee by : Shri Vijay Mehta, AR Department by : Shri OP Sharma, CIT DR Date of hearing: 10-06-2022 Date of pronouncement : 08-09-2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. This appeal is filed by assessee against the appellate order of T…

M/S. Burlington Finance Ltd., Mumbai vs. Dy CIT-CC-3(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 1294/MUM/2021[2013-14]Status: DisposedITAT Mumbai26 Aug 2022AY 2013-14
Section 132Section 143(3)Section 153A

…THE INCOME TAX APPELLATE TRIBUNAL “B” Bench, Mumbai Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 1039/Mum/2021 (A.Y. 2012-13) I.T.A. No. 1195/Mum/2021 (A.Y. 2013-14) I.T.A. No. 1196/Mum/2021 (A.Y. 2014-15) Vs. DCIT, Central M/s. Bazigar Trading Pvt. Ltd. Office No. 20, 8th Floor Circle-3(1) 3 Navjivan Commercial 19th Floor Premises Co-operative Society Air India Building Ltd., lamington Road Nariman Point Mumbai-400 008. Mumbai-400 021. PAN : AABCB3052B (Appellant) (Respondent) I.T.A. No. 1266/Mum/2021 (A.Y. 2012-13) I.T.A. No. 1294/Mum/2021 (A.Y. 2013-14) I.T.A. No. 1267/Mum/2021 (A.Y.…

M/S. Burlington Finance Ltd., Mumbai vs. Dy CIT, Central Circle-3(1), Mumbai

In the result, all the appeals of the assessee are allowed

ITA 1268/MUM/2021[2015-16]Status: DisposedITAT Mumbai26 Aug 2022AY 2015-16
Section 132Section 143(3)Section 153A

…THE INCOME TAX APPELLATE TRIBUNAL “B” Bench, Mumbai Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 1039/Mum/2021 (A.Y. 2012-13) I.T.A. No. 1195/Mum/2021 (A.Y. 2013-14) I.T.A. No. 1196/Mum/2021 (A.Y. 2014-15) Vs. DCIT, Central M/s. Bazigar Trading Pvt. Ltd. Office No. 20, 8th Floor Circle-3(1) 3 Navjivan Commercial 19th Floor Premises Co-operative Society Air India Building Ltd., lamington Road Nariman Point Mumbai-400 008. Mumbai-400 021. PAN : AABCB3052B (Appellant) (Respondent) I.T.A. No. 1266/Mum/2021 (A.Y. 2012-13) I.T.A. No. 1294/Mum/2021 (A.Y. 2013-14) I.T.A. No. 1267/Mum/2021 (A.Y.…