NK Proteins Ltd. v. DCIT

Diagold Designs Ltd., Mumbai vs. DCIT, CC- 1(2), Mumbai

In the result, appeals filed by the assesee for AY 2011-12 is partly allowed and for AY 2014-15 are allowed

Bench: Shri M.Balaganesh & Shri Pavan Kumar Gadaleita Nos. 3519 & 3520/Mum/2018 (Assessment Years :2011-12 & 2014-15) M/S. Diagold Designs Ltd. Vs. Dcit, Cc- 1(2) R-1, Cama Industrial Estate Aaykar Bhawan Walbhat Road M.K.Road Goregaon (East) Mumbai-400 020 Mumbai-400063

…ion in question. Hence, we uphold the findings of the Ld. CIT(A) and dismiss the sole ground of appeal of the revenue. 9. We also find that the reliance placed by the Ld. DR on the decision of Hon’ble Gujarat High Court in the case of N.K.Proteins reported in 292 CTR 354 is factually distinguishable inasmuch as in that case, proper enquiries were made by the Ld. AO to come to a conclusion that purchases made by that assessee was bogus, whereas in the instant case, no enquiry, in any manner whatsoever, was sought to be made by the Ld. AO with the concerned suppliers despite the fact of providing all the relevant p…

ITO - WD- 3 (4), Kalyan vs. Siddhi Corporation, Dombivali

In the result, appeals by the Revenue for assessment year 2009-10

Bench: Shri Vikas Awasthy & Shri Rajesh Kumar

…uthorities below. The assessee has failed to discharge his onus of proving genuineness of the purchases. The ld.Departmental Representative further placed reliance on the decision of Hon'ble Supreme Court of India in the case of NK Proteins Ltd vs DCIT (2017) 292 CTR 354 (SC) to contend that 100% addition of the bogus purchases should be made. 4. On the other hand, Ms. Neha Paranjpe appearing on behalf of the assessee vehemently defended the impugned order. The ld.Authorized Representative of the assessee submitted that sales made by the assessee were not disputed by the department, without purchases, there cann…

ITO - WD - 3 (4), Kalyan vs. Siddhi Corporation, Dombivali

In the result, appeals by the Revenue for assessment year 2009-10

Bench: Shri Vikas Awasthy & Shri Rajesh Kumar

…uthorities below. The assessee has failed to discharge his onus of proving genuineness of the purchases. The ld.Departmental Representative further placed reliance on the decision of Hon'ble Supreme Court of India in the case of NK Proteins Ltd vs DCIT (2017) 292 CTR 354 (SC) to contend that 100% addition of the bogus purchases should be made. 4. On the other hand, Ms. Neha Paranjpe appearing on behalf of the assessee vehemently defended the impugned order. The ld.Authorized Representative of the assessee submitted that sales made by the assessee were not disputed by the department, without purchases, there cann…

Realstone Exports Ltd, Thane vs. ITO 11(1)(2), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri M.Balaganesh, Am & Shri Ram Lal Negi, Jm M/S. Realstone Exports Ltd., Vs. Income Tax Officer C-204, 2Nd Floor 11(1)(2), Vishal Apartments Aayakar Bhavan Taki Road, Tulinj M.K.Road, Nallasopara (E) Mumbai, Thane, Maharashtra – 400 020 Maharashtra – 401 209 Pan/Gir No. Aaccr8504K (Appellant) .. (Respondent)

…amination of bogus purchases alone by placing reliance on certain decisions as under:- a. Hon’ble Delhi High court in the case of CIT vs. D.K.Garg reported in 404 ITR 757 b. Hon’ble Gujarat High Court in the case of N.K. Industries Ltd., vs. DCIT reported in 292 CTR 354 c. Hon’ble Gujarat High Court in the case of CIT vs. Simit P Sheth reported in 356 ITR 451. 3.2. We also find the ld. CIT while setting aside the order passed by the ld. AO had observed that the ld. AO had failed to carry out proper investigation of the issue relating to bogus purchases, thereby causing revenue loss to the department. 3.3. We fi…

ITO 27 (1)(1), Mumbai vs. Alpa Chetan Desai, Mumbai

Bench: Shri Rajesh Kumar & Shri Ravish Soodincome Tax Officer -27(1), Smt. Alpa Chetan Desai Tower No. 6, 4Th Floor, Kahan Corporation, 202, Room No. 406, Vashi Railway Serena Building Shanti Park, Station Complex, Vashi, Vallabh Baug Lane Marg, Vs. Navi Mumbai. Ghatkopar (E), Mumbai – 400 077

…booked bogus purchases, therefore, the A.O had rightly disallowed the entire amount of such purchases. In support of his aforesaid contention the ld. D.R relied on the judgement of the Hon‟ble Supreme Court in the case of N.K. Proteins Ltd vs. Dy. CIT (2016) 292 CTR 354 (Guj). 6. We have heard the ld. Departmental representative, perused the orders of the lower authorities and the material available on record, and also the judicial pronouncements relied upon by them. Admittedly, the assessee in the case before us had failed to substantiate the authenticity of the purchases claimed to have been made from the afor…

ACIT 27 (3), Mumbai vs. Ramji Gangda Patel, Mumbai

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Ravish Soodacit -27(3), Shri Ramji Gangdas Patel Room No. 423, 4Th Floor, A/7, K.K. Samruiti, New Maneklal Tower No. 6, Vashi Railway Estate, Sant Narshi Mehta Marg, Vs. Station Complex, Vashi, Ghatkopar (West), Navi Mumbai – 400 703 Mumbai- 400086

…ubmitted by the ld. D.R that the order of the CIT(A) may be set aside and that of the A.O be restored. In support of his aforesaid contention the ld. D.R had relied on the judgement of the Hon‟ble Supreme Court in the case of N.K. Proteins Ltd Vs. DCIT (2017) 292 CTR 354(SC). 6. Per contra, the ld. Authorized Representative (for short „A.R‟) for the assessee relied on the order passed by the CIT(A). 7. We have heard the authorized representatives for both the parties, perused the orders of the lower authorities and the material available on record, and the judicial pronouncements relied upon by them. Admittedly,…

ACIT -Circle 27 (2), Mumbai vs. Pratik Construction, Mumbai

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar & Shri Ravish Soodacit Circle -27(2), M/S Pratik Construction Room No. 420, 4Th Floor, B/515, Kanara Business Centre, Tower No. 6, Vashi Railway Off. Ghatkopar Andheri Lane, Vs. Station Complex, Vashi, Ghatkopar West, Navi Mumbai – 400 708 Mumbai - 400086

…ckdrop of such unverified purchases had over invoiced the same in its books of account or procured the same at a discounted value from the open/grey market. Also, as the judgment of the Hon‟ble Supreme Court in the case of N.K Proteins Limited Vs. DCIT (2017) 292 CTR 354 (SC) relied upon by the ld. D.R is distinguishable on facts, therefore, the same would also not assist the case of the revenue. We have given a thoughtful consideration to the facts of the case before us and finding ourselves to be in agreement with the view taken by the CIT(A) that the P a g e | 5 ITA No. 6231/Mum/2018 A.Y. 2009-10 ACIT Circle-2…