NK Proteins Ltd. v. DCIT

292 CTR 354Supreme Court of India2017#921 most cited

What is NK Proteins Ltd. v. DCIT authority for?

When purchases are unverifiable or alleged to be bogus, only the profit element embedded in such transactions is taxable, not the entire purchase amount; the onus lies on the assessee to prove the genuineness of the transactions.

115

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2017 to 2026.

Also referred to as

NK Proteins Ltd v DCIT · 292 CTR 354 SC · 84 taxmann.com 195 SC · unverifiable purchases · bogus purchases · profit element · Section 69C · addition to income · onus of proof · genuineness of transactions · unexplained expenditure

Sections most often in play

Section 143(3)Section 69CSection 147Section 133(6)Section 153ASection 250Section 148Section 153C

Issues it is cited on

section 245c(1)section 101section 245hsection 245csection 245d(4)section 245dfull and true disclosuresection 245section 156section 69csection 194cloose papers

Judgments citing NK Proteins Ltd. v. DCIT

Income Tax Officer Ward-2(2), Kalyan vs. Sunil Kumar Jagannath Tiwari, Thane

In the result the appeal filed by the revenue stands allowed

ITA 1554/MUM/2025[2011-12]Status: DisposedITAT Mumbai27 May 2025AY 2011-12

Bench: Hon’Ble Shri Sandeep Gosainito, Ward – 2(2) Vs. Sunil Kumar Jagannath Mohan Plaza, Wayale Nagar Tiwari Kalyan. Sampada Bhuvan Bunglow, Amrut Chs Karjat Road, Kulgaon Badlapur East. Pan/Gir No. Aczpt6886E (Applicant) (Respondent)

Section 250

…purchases from the hawala parties. However, during the appellate proceedings Ld. CIT(A) restricted the additions by adopting the GP rate @ 20% of the entire purchases. 4. However, Ld. DR relied upon the decision in the case of NK Protein Ltd Vs. DCIT, [2017] 292 CTR 354 (SC), wherein it was held that “one the purchases are bogus, then the additions should made on the entire purchases and not only the profit embedded in such purchases” I further noticed that although SLP was filed before the Hon’ble Apex Court, however Hon’ble Apex Court had dismissed the said SLP and upheld the decision of NK Protein Ltd Vs. DCI…

Naveen Aggarwal, Delhi vs. ITO Ward 44(6), Delhi

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

ITA 703/DEL/2025[2019-20]Status: DisposedITAT Delhi13 May 2025AY 2019-20

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI MANISH AGARWAL (Accountant Member)

Section 133(6)Section 145(2)Section 147Section 148Section 250Section 69A

…not be established addition towards such purchases was made. Under these circumstances, it could not be fair and appropriate to make the addition for the entire unverifiable purchases. The Hon’ble Supreme Court in the case of N.K. Proteins vs DCIT reported in 292 CTR 354 (SC) has held that in case of unverifiable purchases, the profit element embedded should be taxed and not the entire amount of purchases. It is also seen that if the entire purchases alleged as in-genuine is added to the total income of the assessee, it would give an absurd result. 4. Under these circumstances, we are of the view that as against…

Deputy Commissioner of Income, Aurangabad vs. Metarolls Ispat Pvt. Ltd, Jalna

ITA 933/PUN/2024[2021-22]Status: DisposedITAT Pune20 Feb 2025AY 2021-22

Bench: Shri R. K. Panda & Ms. Astha Chandra

Section 132Section 133(6)Section 143(1)Section 143(2)

…ised by the Ld. AO with supporting documents and supporting case laws, thus the argument of the appellant is found to be correct and legally valid. 7.5 The Ld. AO has relied on the Hon'ble Supreme court's decision in the case of NK Proteins Ltd vs DCIT (2017) 292 CTR 354 SC and NR Paper and Boards Ltd. The facts of these cases are different than the appellant's case. In these cases, the bogus purchases were proved with thorough investigation and parties were found fictitious and some material was found during the course of search action which proved that the impugned purchases were bogus. The said ratio cannot be…

Deputy Commissioner of Income Tax, Aurangabad vs. Metarolls Ispat Pvt. Ltd., Jalna

In the result, both the appeals filed by the Revenue are partly allowed

ITA 932/PUN/2024[2020-21]Status: DisposedITAT Pune20 Feb 2025AY 2020-21

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21

For Appellant: S/Shri Adv Rahul Kaul, CA AnandFor Respondent: S/Shri Amol Khairnar CIT-DR &
Section 132Section 133(6)Section 143(1)Section 143(2)

…ised by the Ld. AO with supporting documents and supporting case laws, thus the argument of the appellant is found to be correct and legally valid. 7.5 The Ld. AO has relied on the Hon'ble Supreme court's decision in the case of NK Proteins Ltd vs DCIT (2017) 292 CTR 354 SC and NR Paper and Boards Ltd. The facts of these cases are different than the appellant's case. In these cases, the bogus purchases were proved with thorough investigation and parties were found fictitious and some material was found during the course of search action which proved that the impugned purchases were bogus. The said ratio cannot be…

Finesse Jewels Private Limited, Jaipur vs. Deputy Commissioner of Income, Circle 1, Jpr, Jaipur

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

ITA 1249/JPR/2024[2012-13]Status: DisposedITAT Jaipur11 Dec 2024AY 2012-13

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalfinesse Jewels Private Limited, A-467 Jaipur, Vidhyut Nagar, Jaipur, Ajmer Road- 302 021. Pan No.: Aabcf 4438R ..... Appellant Vs. Dcit, Circle-1, Jaipur – 302 021. ..... Respondent

For Appellant: Mr. Mukesh Kumar Sharma, Adv., Ld. ARFor Respondent: Mr. Gautam Singh Choudhary, JCIT, DR
Section 143(3)Section 250Section 271(1)(c)

…were not a genuine one and were carried out against the commission @0.2%. To adjudicate such a scenario reference is made to the decision of the Hon’ble Gujarat High Court in N. K. Industries Ltd. v. CIT, (2017) 8 ITR-OL 336: 2016 SCC Online Guj.10209: (2017) 292 CTR 354 wherein the following was held-: 6. The Tribunal in the case of Vijay Proteins Ltd. v. CIT has observed that it would be just and proper to direct the Assessing Officer to restrict the addition in respect of the undisclosed income relating to the purchases to 25 per cent of the total purchases. The said decision was confirmed by this court as wel…

Income Tax Officer, Thane vs. Sachin Laxman Jangid, Thane

In the result, the appeal by the Revenue is dismissed

ITA 2205/MUM/2024[2011-12]Status: DisposedITAT Mumbai21 Oct 2024AY 2011-12

Bench: Shri Amarjit Singhshri Sandeep Singh Karhailincome Tax Officer, Room No.4, 6Th Floor, Ashar It Park, Wagle Estate, Thane (W) ……………. Appellant Maharashtra - 400604

For Appellant: Shri Sanjiv Brahme a/w Shri Jayant BhattFor Respondent: Shri BhangepatilPushkaraj Ramesh, Sr.DR
Section 142(1)Section 143(1)Section 143(3)Section 147Section 148Section 250Section 254

…CIT wherein it has been held that once the purchases are bogus, additions should be made on the entire purchases and not only the profit embedded in such purchases against which the SLP filed by the assessee was dismissed by the Hon ble Apex Court vide (2017] 292 CTR 354 (SC). b.It is humbly requested that present appeal may be filed in accordance with the CBDT's Circular No.5/2024 dated 15.03.2024 as per para 3.1(c) of the said circular. Therefore, the order of the CIT(A) may kindly be vacated and that of the AO may be restored." 3. The brief facts of the case are that the assessee is a contractor running the…

Income Tax Officer, Mumbai Ayakar Bhawan Churchgate vs. Varsha Corporation Limited, Malad (West)

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

ITA 348/MUM/2024[2017-18]Status: DisposedITAT Mumbai01 Oct 2024AY 2017-18

Bench: Ms. Kavitha Rajagopal & Shri Gagan Goyalito, R. No. 227, Aayakar Bhavan, M. K. Road, Mumbai Maharashtra - 400 020. ..... Appellant Vs. M/S. Varsha Corporation Ltd. 13, Adarsh Society, Varsha Ramachandra Lane Extn. Malad (West), Mumbai- 400 064. Pan No.Aabcv2293E ..... Respondent

For Appellant: Ms. Rajeshwari Menon, Ld. DRFor Respondent: Shri Mahesh Rajora, Ld.AR
Section 133(6)Section 143(1)Section 143(3)Section 250

…ances of the case and in law, the Ld. CIT(A) erred in restricting the disallowance to 2% of the bogus purchase made from M/s. Shashwat Jewellery Pvt. Ltd. without appreciating the fact that, Hon'ble Supreme Court in the case of NK Proteins Ltd us. DCIT (2017) 292 CTR 354 (SC) has held that, once the categorical finding is made that the purchases made from certain party are bogus, it is not incumbent to restrict the disallowance to certain percentage of such purchase". 3 "Whether on the facts and circumstances of the case and in law, the Ld. CIT (A) erred in limiting the disallowance to 2% of the purportedly bogu…

Arora Brothers Fashions Private Limited, Mumbai vs. Ward 12(1)(1), Mumbai

Appeal are dismissed as being without merit

ITA 1211/MUM/2024[2018-19]Status: DisposedITAT Mumbai26 Aug 2024AY 2018-19

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, MUMBAI SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Mehul ShahFor Respondent: Shri Raj Singh Meel
Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, MUMBAI SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Arora Brothers Fashions Private Limited G/001, Vikas Centre, Plot No. 106, Prima Czar Showroom, Santracuz(W), Near Bus Depot, Mumbai- 400054 [PAN: AALCA7793A] …………. Appellant Income Tax Officer Vs Ward -12(1)(1), Mumbai R.No. 129, 1st Floor, Aaykar Bhavan MK Road Mumbai – 400 020 …………. Respondent Income Tax Officer Ward -12(1)(1), Mumbai R.No. 129, 1st Floor, Aaykar Bhavan MK Road Mumbai – 400 020 …………. Appellant Arora Brothers Fashions Private Limited Vs G/001, Vikas Centre, Plot No.…

Income Tax Officer-12(1)(1), Mumbai vs. Arora Brothers Fashions Private Limited, Mumbai

Appeal are dismissed as being without merit

ITA 1011/MUM/2024[2018-19]Status: DisposedITAT Mumbai26 Aug 2024AY 2018-19

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Mehul ShahFor Respondent: Shri Raj Singh Meel
Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, MUMBAI SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Arora Brothers Fashions Private Limited G/001, Vikas Centre, Plot No. 106, Prima Czar Showroom, Santracuz(W), Near Bus Depot, Mumbai- 400054 [PAN: AALCA7793A] …………. Appellant Income Tax Officer Vs Ward -12(1)(1), Mumbai R.No. 129, 1st Floor, Aaykar Bhavan MK Road Mumbai – 400 020 …………. Respondent Income Tax Officer Ward -12(1)(1), Mumbai R.No. 129, 1st Floor, Aaykar Bhavan MK Road Mumbai – 400 020 …………. Appellant Arora Brothers Fashions Private Limited Vs G/001, Vikas Centre, Plot No.…

Income Tax Officer, Mumbai vs. Govindbhai Tribhuvandas Patel, Mumbai

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

ITA 4827/MUM/2023[2011-12]Status: DisposedITAT Mumbai26 Aug 2024AY 2011-12

Bench: Shri Narender Kumar Choudhry & Shri Amarjit Singhassessment Year: 2011-12

For Appellant: Shri Viraj Mehta, A.RFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 133(6)Section 147Section 148Section 250Section 69C

…e Tribunal, the addition restricted @ 12.5% of the alleged bogus purchases may be reduced to 4% as done by the co-ordinate Bench of the Tribunal. 6.1 On the contrary, the Ld. DR has claimed that in view of judgment rendered in NK Proteins Ltd. Vs DCIT (2017) 292 CTR 354 (SC) the addition @ 100% of the alleged bogus purchases is liable to be restored and therefore the impugned order may be set aside and the assessment order may be restored . 6.2 Both the parties have raised the grievance about restricting the addition to the tune @ 12.5% by the Ld. Commissioner. 6.3 We observe that the Hon’ble co-ordinate Bench…

Govindbhai Tribhuvandas Patel, Mumbai vs. ITO 19(1)(3), Mumbai

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

ITA 4322/MUM/2023[2011-12]Status: DisposedITAT Mumbai26 Aug 2024AY 2011-12

Bench: Shri Narender Kumar Choudhry & Shri Amarjit Singhassessment Year: 2011-12

For Appellant: Shri Viraj Mehta, A.RFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 133(6)Section 147Section 148Section 250Section 69C

…e Tribunal, the addition restricted @ 12.5% of the alleged bogus purchases may be reduced to 4% as done by the co-ordinate Bench of the Tribunal. 6.1 On the contrary, the Ld. DR has claimed that in view of judgment rendered in NK Proteins Ltd. Vs DCIT (2017) 292 CTR 354 (SC) the addition @ 100% of the alleged bogus purchases is liable to be restored and therefore the impugned order may be set aside and the assessment order may be restored . 6.2 Both the parties have raised the grievance about restricting the addition to the tune @ 12.5% by the Ld. Commissioner. 6.3 We observe that the Hon’ble co-ordinate Bench…

Assistant Commissioner of Income Tax-4(2)(1), Mumbai vs. Gemsons Precision Engineering Pvt Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed in the above terms

ITA 791/MUM/2024[2011-12]Status: DisposedITAT Mumbai27 Jun 2024AY 2011-12

Bench: Smt. Padmavathy S. & Shri. Raj Kumar Chauhanassistant Commissioner Of Income Vs. Gemsons Precision Tax – 4(2)(1) Engineering Pvt. Ltd. Room No. 640, Aayakar Bhavan, M. Plot No. Af-1, Cama Industrial K. Road, New Marine Lines, Estate, Walbhat Road, Mumbai – 400020. Goregaon East, Mumbai Pan: Aabcg0333J 400063. (Appellant) (Respondent)

Section 142(1)Section 143(1)Section 143(2)Section 250Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SMT. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER Assistant Commissioner of Income Vs. Gemsons Precision Tax – 4(2)(1) Engineering Pvt. Ltd. Room No. 640, Aayakar Bhavan, M. Plot No. AF-1, Cama Industrial K. Road, New Marine Lines, Estate, Walbhat Road, Mumbai – 400020. Goregaon East, Mumbai PAN: AABCG0333J 400063. (Appellant) (Respondent) Assessee Represented by : Shri. Bharat P. Shah Department Represented by : Shri. Dinesh A. Chourasia – Sr. AR. Date of conclusion of Hearing : 06.06.2024 Date of Pronouncement…

Income Tax Officer, Ward 3(2), Kalyan vs. Mukesh Odhavji Kamaliya, Pune

In the result appeal of the AO is dismissed

ITA 2767/MUM/2023[2010-11]Status: DisposedITAT Mumbai24 Jun 2024AY 2010-11

Bench: Shri Prashant Maharishi (Am) I.T.A. No. 2767/Mum/2023 (A.Y. 2010-11) Vs. Ito, Mukesh Odhavji Kamaliya Ward 3(2) Flat No. 22, Building E2 2Nd Floor, Rani Mansion Prem Park, Masulkar Colony Near Murbad Road, Kalyan-W Corporation Maharashtra-421 301. Bank, Pune-411 018 Pan : Axzpk8408L (Appellant) (Respondent) Assessee By None Department By Shri R.R. Makwana Date Of Hearing 04.06.2024 Date Of Pronouncement 24.06.2024 O R D E R 1. This Appeal Is Filed By The Income Tax Officer Ward 3 (2), Kalyan (The Learned Assessing Officer) For Assessment Year 2010 – 11 Against The Appellate Order Passed By The National Faceless Appeal Centre (Nfac), Delhi (The Learned Cit – A) Dated 29/5/2023 Wherein The Appeal Filed By The Assessee Against The Assessment Order Passed By The Income Tax Officer On 19/2/2015 Under Section 143 (3) Read With Section 147 Of The Income Tax Act, 1961 (The Act) Was Partly Allowed. Therefore, The Assessing Officer Is Aggrieved & Is In Appeal Before Us. 2. The Solitary Ground Of The Appeal Of The Learned Assessing Officer Is That The Learned Cit – A Has Erred In Restricting The Disallowance To 25% Of Purchases Instead Of Hundred Percent Of Purchases Of Rs. 777,174/– From Non-Existent Vendor’S By Not Following The Decision Of The Honourable Gujarat High Court In Case Of Nk Proteins Ltd Versus Dcit Where In It Has Been Held That Once The Purchases Are Bogus, The Addition Should Be Made On The Entire Purchases & Not Only The Page 1 Of 4

Section 133Section 143Section 147Section 148Section 69C

…nce the purchases are bogus, the addition should be made on the entire purchases and not only the Page 1 of 4 profit embedded in such purchases against which the specially petition filed by the assessee was dismissed by the honourable Supreme Court in (2017) 292 CTR 354 (SC). 3. The fact is that the assessee is an individual who filed his return of income on 26/9/2010 for assessment year 2010 – 11 at a total income of Rs. 202,640/–. The information was received by the AO from the GI (investigation), Pune on 6/2/2013 that the sales tax department Mumbai has on our racket involving more than 1935 hawala dealers in…

Income Tax Officer, Thane vs. Muljibhai Arjanbhai Sakaria, Thane

In the result, the appeal by the Revenue is allowed for statistical purposes

ITA 2794/MUM/2023[2011-12]Status: DisposedITAT Mumbai08 May 2024AY 2011-12

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: NoneFor Respondent: Smt. Smitha V. Nair
Section 133(6)Section 147Section 148Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.2794/Mum./2023 (Assessment Year : 2011–12) ITO, Ward-2(1) Room No.25, B-Wing 6th Floor, Ashar IT Park, ……………. Appellant Wagle Industrial Estate, Thane-400604. v/s Shri Muljibhai A. Sakaria II Patil Bros Industrial Estate, Opp. Railway STN, Behind National ……………. Respondent Diary Bhayander (East), Thane-401105. PAN: AEGPP3633J Assessee by : None Revenue by : Smt. Smitha V. Nair Date of Hearing –08/04/2024 Date of Order – 08/05/2024 O R D E R PER SANDEE…

Income Tax Officer, Kalyan vs. J D Electric Works, Kalyan

In the result, the appeal of the Revenue is dismissed

ITA 4521/MUM/2023[2009-10]Status: DisposedITAT Mumbai06 May 2024AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Narender Kumar Choudhry () Assessment Year: 2009-10

For Appellant: Mr. Shashank MehtaFor Respondent: Ms. Rajeshwari Menon, Sr. DR
Section 1Section 148

…nly the profit embedded in such purchases against which the SLP filed by the assessee was in such purchases against which the SLP filed by the assesse in such purchases against which the SLP filed by the assesse dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC) dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC) dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC) 2. On the facts and in circumstances of the case, the CIT(A) erred in On the facts and in circumstances of the case, the CIT(A) erred in On the facts and in circumstances of the case, the CIT(A) erred in deleting…

Income Tax Officer, Ward-11(1), Hyderabad, Kondapur Hyderabad vs. Sangam Wires, Kalaburagi

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 371/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…learned CIT (A) NFAC was not justified in deleting the addition by restricting the same to the profit element embedded in such purchases. 16. Referring to the decision of the Hon'ble Gujarat High Court in the case of N.K Industries Ltd vs. Dy.CIT reported in 292 CTR 354 (Guj.), he submitted that the Hon'ble High Court in the said decision has held that if material found during the course of search exposes falsity of entries made in regular books of account, consequent concealed income can be assessed as undisclosed income in block assessment. He submitted that the SLP filed by the Revenue has been dismissed Pag…

Sangam Wires, Hyderabad vs. ITO., Ward-11(1), Hyderabad

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 356/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…learned CIT (A) NFAC was not justified in deleting the addition by restricting the same to the profit element embedded in such purchases. 16. Referring to the decision of the Hon'ble Gujarat High Court in the case of N.K Industries Ltd vs. Dy.CIT reported in 292 CTR 354 (Guj.), he submitted that the Hon'ble High Court in the said decision has held that if material found during the course of search exposes falsity of entries made in regular books of account, consequent concealed income can be assessed as undisclosed income in block assessment. He submitted that the SLP filed by the Revenue has been dismissed Pag…

ITO Ward 3(2), Kalyan vs. Mukesh Odhavji Kamaliya, Pune

In the result, appeal of the Revenue is dismissed

ITA 2768/MUM/2023[2011-12]Status: DisposedITAT Mumbai19 Mar 2024AY 2011-12

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S RIFAUR RAHMAN (Accountant Member)

Section 143(3)Section 148

…CIT wherein it has been held that once the purchases are bogus, additions should be made on the entire purchases and not only the profit embedded in such purchases against which the SLP filed by the assessee was dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC). b. It is humbly requested that present appeal may be filed in accordance with the CBDT'S Circular No 3/2018 dated 11.07.2018 amended vide letter doted 20.08.2018 as per para 10(e) of the said circular. Therefore, the order of the CIT(A) may kindly be vacated and that of the A0 may be restored." 3. The brief facts are that assessee is an in…

Income Tax Officer, Income Tax Department vs. Bapu Amruta Kharade, Mulund

In the result, appeals of the Revenue are dismissed

ITA 2712/MUM/2023[2009-10]Status: DisposedITAT Mumbai18 Mar 2024AY 2009-10

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S RIFAUR RAHMAN (Accountant Member)

Section 143(3)

…CIT wherein it has been held that once the purchases are bogus, additions should be made on the entire purchases and not only the profit embedded in such purchases against which the SLP filed hy the assessee was dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC). b It is humbly requested that present appeal may be filed in accordance with the CBDT'S Circular No.3/2018 dated 11.07.2018 amended vide letter dated 20.08.2018 as per para 10(e) of the said circular Therefore, the order of the CIT(A) may kindly be vacated and that of the AO may be restored." 3. The brief facts are that assessee is a propr…

Income Tax Officer Ward 1(1) Thane, Income Tax Department vs. Bapu Amruta Kharade, Mulund

In the result, appeals of the Revenue are dismissed

ITA 2711/MUM/2023[2010-11]Status: DisposedITAT Mumbai18 Mar 2024AY 2010-11

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S RIFAUR RAHMAN (Accountant Member)

Section 143(3)

…CIT wherein it has been held that once the purchases are bogus, additions should be made on the entire purchases and not only the profit embedded in such purchases against which the SLP filed hy the assessee was dismissed by the Hon'ble Apex Court vide (2017) 292 CTR 354 (SC). b It is humbly requested that present appeal may be filed in accordance with the CBDT'S Circular No.3/2018 dated 11.07.2018 amended vide letter dated 20.08.2018 as per para 10(e) of the said circular Therefore, the order of the CIT(A) may kindly be vacated and that of the AO may be restored." 3. The brief facts are that assessee is a propr…