PCIT v. Keshri Exports

168 Taxmann.com 528High Court2024#12270 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2025 to 2026.

Sections most often in play

Section 69CSection 147Section 68Section 133(6)Section 143(3)Section 37Section 115BBESection 148

Issues it is cited on

summons under section 131paper companysection 131(1a)source of sourceprincipal commissioner of income-taxcreditworthiness of the creditorsection 260addition under section 68unexplained expendituresection 69csection 133share application money

Judgments citing PCIT v. Keshri Exports

H K Ispat Pvt. Ltd., Panchmahal vs. The Dy.CIT, Central Circle-2, Vadodara

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

ITA 1392/AHD/2025[2021-22]Status: DisposedITAT Ahmedabad18 Mar 2026AY 2021-22

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA R. KAMBLE, JUDICIAL MEMBER SN ITA/IT(SS)A No. AY Appellant Respondent 1 IT(SS)A No. 2015-16 ACIT, HK Ispat Pvt. Ltd., 73/Ahd/2025 Central Circle-2, R.S. 380, Vejalpur Road, Vadodara Panchmahal, Godhra-389001 [PAN : AACCH 0966 K] 2 IT(SS)A No. 2016-17 ACIT, HK Ispat Pvt. Ltd., 74/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 3 IT(SS)A No. 2017-18 ACIT, HK Ispat Pvt. Ltd., 75/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 4 IT(SS)A No. 2018-19 ACI…

ACIT, Central Circle-2, Vadodara vs. Hk Ispat Pvt Ltd, Godhra

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

ITA 1278/AHD/2025[2021-22]Status: DisposedITAT Ahmedabad18 Mar 2026AY 2021-22

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA R. KAMBLE, JUDICIAL MEMBER SN ITA/IT(SS)A No. AY Appellant Respondent 1 IT(SS)A No. 2015-16 ACIT, HK Ispat Pvt. Ltd., 73/Ahd/2025 Central Circle-2, R.S. 380, Vejalpur Road, Vadodara Panchmahal, Godhra-389001 [PAN : AACCH 0966 K] 2 IT(SS)A No. 2016-17 ACIT, HK Ispat Pvt. Ltd., 74/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 3 IT(SS)A No. 2017-18 ACIT, HK Ispat Pvt. Ltd., 75/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 4 IT(SS)A No. 2018-19 ACI…

ACIT, Central Circle-2, Vadodara vs. Hk Ispat Pvt Ltd, Godhra

In the result, all the appeals filed by the Revenue for AYs 2014–15 to 2021–

ITA 1277/AHD/2025[2014-15]Status: DisposedITAT Ahmedabad18 Mar 2026AY 2014-15

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra R. Kamblesn

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT MS. SUCHITRA R. KAMBLE, JUDICIAL MEMBER SN ITA/IT(SS)A No. AY Appellant Respondent 1 IT(SS)A No. 2015-16 ACIT, HK Ispat Pvt. Ltd., 73/Ahd/2025 Central Circle-2, R.S. 380, Vejalpur Road, Vadodara Panchmahal, Godhra-389001 [PAN : AACCH 0966 K] 2 IT(SS)A No. 2016-17 ACIT, HK Ispat Pvt. Ltd., 74/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 3 IT(SS)A No. 2017-18 ACIT, HK Ispat Pvt. Ltd., 75/Ahd/2025 Central Circle-2, Panchmahal, Godhra Vadodara [PAN : AACCH 0966 K] 4 IT(SS)A No. 2018-19 ACI…

ITO, Mumbai vs. Shemon Jewels, Mumbai

ITA 2049/MUM/2025[2014-15]Status: DisposedITAT Mumbai19 Sept 2025AY 2014-15

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

Section 250Section 254(1)Section 37Section 74

…ictional income tax appellate tribunal after considering judgments of Hon’ble Courts, had allowed the estimation of profit to be taxed in the hands of assessee. On this issue judgment of Hon’ble Gujarat High Court in the case of PCIT Vs. Keshri Exports (2024) 168 Taxmann.com 528 (Gujarat) would be relevant, being decided on identical facts, wherein alleged purchases were made from the concerns of Bhanwar Lal Jain Group, the same group involved in the present matter. Hon’ble High Court in the said matter, referring to the identical decision of their coordinate bench in the case of PCIT Vs. M/s Surya Impex (Tax App…

Income Tax Officer-19(3)(1), Mumbai vs. Shemon Jewels, Mumbai

ITA 2048/MUM/2025[2012-13]Status: DisposedITAT Mumbai19 Sept 2025AY 2012-13

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI ARUN KHODPIA (Accountant Member)

Section 250Section 254(1)Section 37Section 74

…ictional income tax appellate tribunal after considering judgments of Hon’ble Courts, had allowed the estimation of profit to be taxed in the hands of assessee. On this issue judgment of Hon’ble Gujarat High Court in the case of PCIT Vs. Keshri Exports (2024) 168 Taxmann.com 528 (Gujarat) would be relevant, being decided on identical facts, wherein alleged purchases were made from the concerns of Bhanwar Lal Jain Group, the same group involved in the present matter. Hon’ble High Court in the said matter, referring to the identical decision of their coordinate bench in the case of PCIT Vs. M/s Surya Impex (Tax App…

Rudra Global Infra Products Ltd., Bhavnagar vs. The ACIT, Circle-1, Bhavnagar

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

ITA 2069/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad17 Jul 2025AY 2018-19

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Advocate & ShriFor Respondent: Shri Alpesh Parmar, CIT DR
Section 115BSection 133(6)Section 147Section 148Section 234ASection 270ASection 69C

…concurrent findings of fact by holding that factum of said dealer already being engaged in bogus billing was not ruled out and therefore, sustained the addition by estimating 5% of alleged bogus proceedings. 17. In the case of PCIT Vs. Keshri Exports, [2024] 168 Taxmann.com 528 (Gujarat), the Hon’ble Gujarat High Court reaffirmed the decision in the case of PCIT Vs. M/s. Surya Impex restricted the disallowance in respect of bogus purchases to 6% of the cost of such purchases in this year. 18. In the case of PCIT Vs. R.K. Jain [2023] 156 Taxmann.com 52 (Gujarat), the Hon’ble Gujarat High Court reaffirmed the dec…

ACIT, Circle-1, Bhavnagar vs. Leela Greenship Recycling Private Limited, Bhavnagar

In the result, both the appeals are treated as partly allowed for statistical purposes in terms of above directions

ITA 2135/AHD/2024[2018-19]Status: HeardITAT Ahmedabad26 Jun 2025AY 2018-19

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No. 2111/Ahd/2024 िनधा"रण वष" /Assessment Year : 2018-19 Leela Greenship Recycling Pvt. Ltd., The Deputy Office No.303, 3Rd Floor, बनाम/ Commissioner V/S. B Wing, Leela Efcee, Of Income Tax, Near Aksharwadi Temple, Circle-1, Waghawadi Road, Bhavnagar. Bhavnagar-364002. "थायी लेखा सं./Pan: Aagcg8956L

For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B Parmar, ARFor Respondent: Shri Hargovind Singh, SR-DR
Section 144BSection 147Section 148Section 250Section 271ASection 69C

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “ D”, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD "ी टी.आर. से""ल कुमार, "ाियक सद" एवं "ी मकरंद वसंत महादेवकर, लेखा सद" के सम"। ] ] BEFORE SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA No. 2111/Ahd/2024 िनधा"रण वष" /Assessment Year : 2018-19 Leela Greenship Recycling Pvt. Ltd., The Deputy Office No.303, 3rd Floor, बनाम/ Commissioner v/s. B Wing, Leela Efcee, of Income Tax, Near Aksharwadi Temple, Circle-1, Waghawadi Road, Bhavnagar. Bhavnagar-364002. "थायी लेखा सं./PAN: AAGCG8956L AND…

Leela Greenship Recycling Pvt. Ltd., Bhavnagar vs. The Dy. CIT, Circle-1, Bhavnagar

In the result, both the appeals are treated as partly allowed for

ITA 2111/AHD/2024[2018-19]Status: HeardITAT Ahmedabad26 Jun 2025AY 2018-19

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं/Ita No. 2111/Ahd/2024 निर्धारण वर्ष / Assessment Year : 2018-19 Leela Greenship Recycling Pvt. Ltd., Office No.303, 3Rd Floor, B Wing, Leela Efcee, Near Aksharwadi Temple, Waghawadi Road, Bhavnagar-364002. बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1, Bhavnagar. स्थायी लेखा सं./Pan: Aagcg8956L & आयकर अपील सं/Ita No. 2135/Ahd/2024 निर्धारण वर्ष / Assessment Year : 2018-19 The Assistant Commissioner Of Income Tax, Circle-1, Bhavnagar. Leela Greenship Recycling Pvt. Ltd., बनाम / Office No.303, 3Rd Floor, V/S. B Wing, Leela Efcee, Near Aksharwadi Temple, Waghawadi Road, Bhavnagar-364002. स्थायी लेखा सं./ Pan: Aagcg8956L अपीलार्थी/ (Appellant) Assessee By : Revenue By : प्रत्यर्थी / (Respondent) Shri Tushar Hemani, Sr. Advocate With Shri Parimalsinh B Parmar, Ar Shri Hargovind Singh, Sr-Dr सुनवाई की तारीख / Date Of Hearing : 25/06/2025 घोषणा की तारीख / Date Of Pronouncement: 26/06/2025

For Appellant: Revenue by
Section 144BSection 147Section 148Section 250Section 271ASection 69C

…आयकर अपीलीय अधिकरण, अहमदाबाद न्यायपीठ "D", अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD श्री टी.आर. सेन्थिल कुमार, न्यायिक सदस्य एवं श्री मकरंद वसंत महादेवकर, लेखा सदस्य के समक्ष। BEFORE SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं/ITA No. 2111/Ahd/2024 निर्धारण वर्ष / Assessment Year : 2018-19 Leela Greenship Recycling Pvt. Ltd., Office No.303, 3rd Floor, B Wing, Leela Efcee, Near Aksharwadi Temple, Waghawadi Road, Bhavnagar-364002. बनाम / v/s. The Deputy Commissioner of Income Tax, Circle-1, Bhavnagar. स्थायी लेखा सं./PAN: AAGCG8…

PCIT v. Keshri Exports (168 Taxmann.com 528) — Cited in 8 Judgments | BharatTax