Pr. Commissioner of Income Tax-13, Mumbai v. Rishabhdev Tachnocable Ltd.

424 ITR 338High Court2020#5284 most cited

What is Pr. Commissioner of Income Tax-13, Mumbai v. Rishabhdev Tachnocable Ltd. authority for?

The High Court may not enhance the quantum of purchases beyond that of the Assessing Officer, especially when the purchases corresponded to sales reflected in the assessee's returns and books of account.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2021 to 2026.

Also referred to as

Pr. Commissioner of Income Tax-13 · Mumbai v. Rishabhdev Tachnocable Ltd. · 424 ITR 338 · purchases · enhancement · assessment order · sales tax proceedings · books of account

Sections most often in play

Section 133(6)Section 142(1)Section 143(3)Section 68Section 133ASection 1961Section 41(1)Section 69C

Issues it is cited on

peak credit theorysection 44afsection 262trade creditorsinadequate enquiryrevision u/s 263non application of mindsection 263(1)sundry creditorssatisfaction notelack of enquirysection 69c

Judgments citing Pr. Commissioner of Income Tax-13, Mumbai v. Rishabhdev Tachnocable Ltd.

Nish Developers Pvt. Ltd., Mumbai vs. DCIT- CC- 6(3), Mumbai

In the result, all the appeals of the assessee except ITA

ITA 3131/MUM/2018[2010-11]Status: DisposedITAT Mumbai12 Mar 2021AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ram Lal Negi

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri P.C. Chhotaray
Section 132(4)

…fore us neither department nor assessee M/s. Nish Developers brought any facts relating to assessment of M/s Krishna Structure Steel Pvt Ltd. However taking note of recent decision of Hon’ble Bombay High Court in case of PCIT Vs. Rishabhdev Technocable Ltd. ( 424 ITR 338)(Bom) affirming the order of the tribunal wherein the tribunal directed 5% of doubtful purchases to be disallowed. We therefore respectfully following the decision of Hon’ble Jurisdictional High Court , set aside the decision of the ld CIT(A) on this issue and direct the AO to restrict the disallowance @ 5% of the total purchases from M/s Krishna…

Nish Developers Pvt. Ltd., Mumbai vs. DCIT - CC -6(3), Mumbai

In the result, all the appeals of the assessee except ITA

ITA 3129/MUM/2018[2011-12]Status: DisposedITAT Mumbai12 Mar 2021AY 2011-12

Bench: Shri Rajesh Kumar & Shri Ram Lal Negi

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri P.C. Chhotaray
Section 132(4)

…fore us neither department nor assessee M/s. Nish Developers brought any facts relating to assessment of M/s Krishna Structure Steel Pvt Ltd. However taking note of recent decision of Hon’ble Bombay High Court in case of PCIT Vs. Rishabhdev Technocable Ltd. ( 424 ITR 338)(Bom) affirming the order of the tribunal wherein the tribunal directed 5% of doubtful purchases to be disallowed. We therefore respectfully following the decision of Hon’ble Jurisdictional High Court , set aside the decision of the ld CIT(A) on this issue and direct the AO to restrict the disallowance @ 5% of the total purchases from M/s Krishna…