Prakash Chand Nahata v. Union of India (163 CTR 310)

M/S. ASIAN COLOUR COATED ISPAT LTD.,,NEW DELHI vs. DCIT, FARIDABAD

In the result, ground nos

ITA 2841/DEL/2015[2009-10]Status: DisposedITAT Delhi15 Mar 2019AY 2009-10

Bench: Shri G.D.Agrawal & Shri Sudhanshu Srivastava

For Appellant: Sh. Ved Jain, Adv, Miss Umang Luthra, AdvFor Respondent: Shri J.K.Mishra, CIT-DR

…R placed reliance on the judgment of the Hon’ble Apex Court in the case of Andaman Timber Industries v. CCE in Civil Appeal No. 4228 of 2006 dated 02.09.2015. Further, reliance was placed on the following judgments: - Prakash Chand Nahata vs. Union of India 163 CTR 310 (SC); - Kishan Chand Chellaram vs. CIT 125 ITR 713 (SC); - CIT vs. SMC Share Brokers Ltd. 288 ITR 345 (Del.); - Alok Aggarwal vs. DCIT (2000) 67 TTJ 109 (Del.); Assessment year 2009-10, 2008-09 3.5 As regards the addition of Rs. 49,17,124/- on account of bogus purchases and Commission paid @ 0.25% thereon of Rs.12,292/-, it was contended by…

M/S. ASIAN COLOUR COATED ISPAT LTD.,,NEW DELHI vs. DCIT, FARIDABAD

In the result, ground nos

ITA 2840/DEL/2015[2008-09]Status: DisposedITAT Delhi15 Mar 2019AY 2008-09

Bench: Shri G.D.Agrawal & Shri Sudhanshu Srivastava

For Appellant: Sh. Ved Jain, Adv, Miss Umang Luthra, AdvFor Respondent: Shri J.K.Mishra, CIT-DR

Section 143(3)Section 153ASection 68

…R placed reliance on the judgment of the Hon’ble Apex Court in the case of Andaman Timber Industries v. CCE in Civil Appeal No. 4228 of 2006 dated 02.09.2015. Further, reliance was placed on the following judgments: - Prakash Chand Nahata vs. Union of India 163 CTR 310 (SC); - Kishan Chand Chellaram vs. CIT 125 ITR 713 (SC); - CIT vs. SMC Share Brokers Ltd. 288 ITR 345 (Del.); - Alok Aggarwal vs. DCIT (2000) 67 TTJ 109 (Del.); Assessment year 2009-10, 2008-09 3.5 As regards the addition of Rs. 49,17,124/- on account of bogus purchases and Commission paid @ 0.25% thereon of Rs.12,292/-, it was contended by…

M/S. SHRI GEMS,NEW DELHI vs. ITO, NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 2912/DEL/2014[2007-08]Status: DisposedITAT Delhi20 Dec 2017AY 2007-08

Bench: Sh. N. K. Sainiita No. 2912/Del/2014 : Asstt. Year : 2007-08 Shri Gems, Vs Income Tax Officer, 10/2441, Beadonpura, Karol Bagh, Ward-33(2), New Delhi New Delhi (Appellant) (Respondent) Pan No. Abcfs2245L Assessee By : Smt. Rano Jain, Adv. & Sh. Ashish Goel, Adv. Revenue By : Sh. T. Vasanthan, Sr. Dr Date Of Hearing : 21.09.2017 Date Of Pronouncement : 20.12.2017 Order This Is An Appeal By The Assessee Against The Order Dated 12.02.2014 Of Ld. Cit(A)-28, New Delhi.

For Appellant: Smt. Rano Jain, Adv. &For Respondent: Sh. T. Vasanthan, Sr. DR

Section 131Section 234BSection 69C

…017 (Del.) " Pr. CIT Vs DKB Infrastructure Pvt. Ltd. in ITA No. 459/2016 order dated 27.07.2016 (Del.) " Pr. CIT Vs Uma Singal, Brijbhushan Singal in ITA Nos. 689 to 692, 694 & 744 of 2015 order dated 05.10.2015 (Del.) " Prakash Chand Nahata Vs Union of India 163 CTR 310 (SC) " Kishan Chand Chellaram Vs CIT 125 ITR 713 (SC) " CIT Vs SMC Share Brokers Ltd. 288 ITR 345 (Del.) " Alok Aggarwal Vs DCIT (2000) 67 TTJ 109 (Del.) 10. In his rival submissions, the ld. DR strongly supported the orders of the authorities below and reiterated the observations made in their respective orders. 11. I have considered the submis…