NK Proteins Ltd. v. DCIT

Assistant Commissioner of Income Tax, Thane West vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

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

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon'ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee's plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilati…

Assistant Commissioner of Income Tax, Thane West vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Konark Infrastructure (Water Supply-Umc) (J/V), Thane vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Konark Infrastructure ( Water Supply- Umc) (J/V), Ulhasnagar vs. DCIT, Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle -4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

…port of his contention relied upon the decision of the coordinate Bench in the case of Pratibha Pipes & Structurals Ltd. in ITA Nos. 3874- 3876/Mum/2015. In this case, the Tribunal, following the decision of Hon’ble Supreme Court in case of N.K. Proteins Ltd (292 CTR 354), had upheld the addition of entire value of bogus purchases and rejected assessee’s plea of estimating only the profit element embedded therein. 24. Per contra, the Ld. AR of the assessee submitted that, all the purchases and the payments to these thirty (30) vendors were supported by relevant bills, ledgers and proof of payments and a compilat…

Deputy Commissioner of Income Tax, Central Circle -3(2), Mumbai vs. Viraj Profiles Private Limited, Mumbai

In the result, appeal filed by the assessee is partly allowed as per above directions

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleviraj Profiles Pvt Ltd V. Dy. Cit - Central Circle- 3(2) (Formerly Known As Viraj Profiles Limited) Room No. 1923, 19Th Floor 1St Floor, Viraj Towers Air India Building Jn Of Andheri Kurla Road Nariman Point W.E. Highway, Andheri (E) Mumbai- 400021 Mumbai- 400093 Pan: Aabcv1740N (Appellant) (Respondent) Dy. Cit - Central Circle- 3(2) V. Viraj Profiles Pvt Ltd (Formerly Known As Viraj Profiles Limited) Room No. 1923, 19Th Floor 1St Floor, Viraj Towers Air India Building, Nariman Jn Of Andheri Kurla Road Point W.E. Highway, Andheri (E) Mumbai- 400021 Mumbai- 400093 Pan: Aabcv1740N (Appellant) (Respondent) Assessee Represented By : Shri. Mani Jain Department Represented By : Shri. Ujjawal Kumar Chavan

…essee or Revenue. 2. As per the Scheme of Income Tax Act in general and sections 37, 69, 69A, 69C in particular, bogus purchases are not allowed as expenditure. 3. The AO relied upon the decision of Hon'ble Gujrat HC in case of NK Industries ltd vs DCIT(2016) 292 CTR 354 wherein it was held that addition could not be restricted to certain percentage when the entire transaction was found to be bogus. Assessee filed the SLP Page 4 of 24 ITA NO. 1213 & 2164/MUM/2023 (A.Y: 2020-21) Viraj Profiles Pvt Ltd against this order. This decision was upheld by the Hon'ble SC which is reported as NK Proteins Ltd vs DCIT (201…

Viraj Profiles Private Limited, Mumbai vs. Dy. Commissioner of Income Tax, Central Circle-3(2), Mumbai

In the result, appeal filed by the assessee is partly allowed as per above directions

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleviraj Profiles Pvt Ltd V. Dy. Cit - Central Circle- 3(2) (Formerly Known As Viraj Profiles Limited) Room No. 1923, 19Th Floor 1St Floor, Viraj Towers Air India Building Jn Of Andheri Kurla Road Nariman Point W.E. Highway, Andheri (E) Mumbai- 400021 Mumbai- 400093 Pan: Aabcv1740N (Appellant) (Respondent) Dy. Cit - Central Circle- 3(2) V. Viraj Profiles Pvt Ltd (Formerly Known As Viraj Profiles Limited) Room No. 1923, 19Th Floor 1St Floor, Viraj Towers Air India Building, Nariman Jn Of Andheri Kurla Road Point W.E. Highway, Andheri (E) Mumbai- 400021 Mumbai- 400093 Pan: Aabcv1740N (Appellant) (Respondent) Assessee Represented By : Shri. Mani Jain Department Represented By : Shri. Ujjawal Kumar Chavan

…essee or Revenue. 2. As per the Scheme of Income Tax Act in general and sections 37, 69, 69A, 69C in particular, bogus purchases are not allowed as expenditure. 3. The AO relied upon the decision of Hon'ble Gujrat HC in case of NK Industries ltd vs DCIT(2016) 292 CTR 354 wherein it was held that addition could not be restricted to certain percentage when the entire transaction was found to be bogus. Assessee filed the SLP Page 4 of 24 ITA NO. 1213 & 2164/MUM/2023 (A.Y: 2020-21) Viraj Profiles Pvt Ltd against this order. This decision was upheld by the Hon'ble SC which is reported as NK Proteins Ltd vs DCIT (201…

Shri Himanshu Lalit Ranka, Thane vs. Income Tax Officer Ward 2(1), Mumbai

In the result, both the appeals are allowed for statistical purpose

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

…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 SIP filed by the assessee was dismissed by the Hon'ble Apex Court vide [2017] 292 CTR 354 (SC). 3 ITA 476/Mum/2023 & 1082/Mum/2023 Shri Himanshu Lalit Ranka 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 ma…

ITO Ward--2(1), Mumbai vs. Shri Himanshu Lalit Ranka, Thane

In the result, both the appeals are allowed for statistical purpose

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

…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 SIP filed by the assessee was dismissed by the Hon'ble Apex Court vide [2017] 292 CTR 354 (SC). 3 ITA 476/Mum/2023 & 1082/Mum/2023 Shri Himanshu Lalit Ranka 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 ma…

Purna Purshottam Exports, Mumbai vs. ACIT Central Circle, 2(2), Mumbai

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2007-08 Purna Pushottam Exports, Ito-32(3)(5), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent Assessment Year: 2018-19 Purna Pushottam Exports, Acit Central Circle, 2(2), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent

…re, after considering all the above facts, and the ratio laid down by the Hon'ble Supreme Court in the case of NK Protei down by the Hon'ble Supreme Court in the case of NK Protei down by the Hon'ble Supreme Court in the case of NK Proteins Ltd vS DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the Assessing Officer is right in making addition towards 100% of bogus Assessing Officer is right in making addition towards 100% of bogus Assessing Officer is right in makin…

Purna Purshottam Exports, Mumbai vs. Income Tax Officer 32(2)(5), Mumbai

In the result, the appeal of the assessee for assessment year

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2007-08 Purna Pushottam Exports, Ito-32(3)(5), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent Assessment Year: 2018-19 Purna Pushottam Exports, Acit Central Circle, 2(2), Gala No. 329, Vardhman Mumbai. Vs. Industrial Estate, Behind Petrol Pump, S.V. Road, Dahisar East, Mumbai-400068. Pan No. Aaefp 8085 E Appellant Respondent

…re, after considering all the above facts, and the ratio laid down by the Hon'ble Supreme Court in the case of NK Protei down by the Hon'ble Supreme Court in the case of NK Protei down by the Hon'ble Supreme Court in the case of NK Proteins Ltd vS DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the DCIT (2017) 292 CTR 354 (SC), I am of the considered view that the Assessing Officer is right in making addition towards 100% of bogus Assessing Officer is right in making addition towards 100% of bogus Assessing Officer is right in makin…

Dy.Commissioner of Income Tax 19(3), Mumbai vs. Suraj Exports, Mumbai

In the result, the appeal of the revenue is dismissed

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1277/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2007-08) Dcit-19(3) बिधम/ Suraj Exports Matru Mandir, Room De-8011/12/13 Bharat Vs. No.206, Grant Road, Diamond Bourse Bandra Mumbai-400007. Kurla Complex Bandra (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaafs3513J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: None Revenue By: Shri Ram Krishna Kedia (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 04/07/2023 घोषणा की तारीख /Date Of Pronouncement: 20/07/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax/Nfac, Delhi Dated 20.02.2023 For Assessment Year 2007-08. 2. The Main Grievance Of The Revenue Is Against The Action Of The Ld. Cit(A) Deleting The Entire Addition Made By Ao (Purchases To The Tune Of Rs.3,79,50,581/-) & Restricting It To 8% N.P Of Such Purchases. 3. Brief Facts Are That The Assessee Had Filed Its Return Of Income On 11.10.2007 Declaring Total Income At Rs.53,24,567/-. Later, The Case Of The Assessee Was Reopened On The Basis Of Information Received From The Dgit(Inv.), Mumbai That During The Search & Survey Action Conducted In This Case Of Shri Bhanwarlal Jain & Family On 03.10.2013, The Investigation Wing Came To Know That Shri Bhanwarlal Jain Controlled Many Companies/Firm/ Proprietory

…ses and the Tribunal had accepted it. Whether an estimate should be at a particular sum or at a different sum can never be an issue of law. (Followed Sanjay Oilcake Industries v CIT ( 2009) 316 ITR 274 (Guj.)(HC) Referred N.K. Industries Ltd. v Dy CIT ( 2017) 292 CTR 354/ 8 ITR-OL 336 (Guj.)(HC), Vijay Proteins Ltd v. CIT (2015) 58 taxmann.com 44 (Guj.) (HC) (AY. 2011-12).” 7 A.Y. 2007-08 Suraj Exports 6. In the light of the aforesaid decision of the Hon’ble Gujarat High Court according to us, the decision of the Ld. CIT(A) is a plausible view which need not be interfered with. Therefore, we confirm the action o…