Principal Commissioner of Income-tax v. Surya Impex

148 Taxmann.com 154High Court2023#2901 most cited

What is Principal Commissioner of Income-tax v. Surya Impex authority for?

Where the Assessing Officer (AO) received information of bogus purchases involving accommodation entries, but the AO made additions at a higher rate than the rate applied to the parties providing such entries, the Tribunal was justified in limiting the addition to the assessee at a rate consistent with the additions made to the suppliers.

41

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2023 to 2026.

Also referred to as

Principal Commissioner of Income-tax v. Surya Impex · 148 Taxmann.com 154 · bogus purchases · accommodation entries · addition rate · profit element · section 143(3) · section 145(3) · section 69C · Assessing Officer · Investigation Wing

Sections most often in play

Section 147Section 143(3)Section 148Section 250Section 271(1)(c)Section 133(6)Section 69CSection 132

Issues it is cited on

section 131(1)(d)section 14a(1)section 145(2)principal commissioner of income-taxpreponderance of probabilityrejection of books of accountaccommodation entrysection 145(3)penalty u/s 271(1)(c)unexplained expenditureappeal before cit(a)section 133(6)

Judgments citing Principal Commissioner of Income-tax v. Surya Impex

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3694/MUM/2024[2007-08]Status: DisposedITAT Mumbai06 Nov 2024AY 2007-08

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3693/MUM/2024[2008-09]Status: DisposedITAT Mumbai06 Nov 2024AY 2008-09

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3692/MUM/2024[2009-10]Status: DisposedITAT Mumbai06 Nov 2024AY 2009-10

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3691/MUM/2024[2010-11]Status: DisposedITAT Mumbai06 Nov 2024AY 2010-11

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3690/MUM/2024[2011-12]Status: DisposedITAT Mumbai06 Nov 2024AY 2011-12

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3689/MUM/2024[2012-13]Status: DisposedITAT Mumbai06 Nov 2024AY 2012-13

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-8(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3688/MUM/2024[2014-15]Status: DisposedITAT Mumbai06 Nov 2024AY 2014-15

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

DCIT-CC-(2), Mumbai vs. Pamstar Exports, Mumbai

In the result, all the appeals of Revenue are dismissed

ITA 3687/MUM/2024[2013-14]Status: DisposedITAT Mumbai06 Nov 2024AY 2013-14

Bench: Shri Amarjit Singh, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Mr. Suchek AnchaliyaFor Respondent: Shri H.M. Bhatt (Sr. DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘C’, MUMBAI BEFORE SHRI AMARJIT SINGH, HON’BLE ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, HON’BLE JUDICIAL MEMBER ITA Nos.3687 to 3694/Mum/2024 Assessment Year: 2007-08 to 2014-15 DCIT, CC-8(2), Mumbai Pamstar Exports DC 5101-102 Bharat Diamond vs Bourse, Bandra Kurla Complex, Bandra East, Mumbai-400051. PAN: ASEFP 4255 A (Appellant) (Respondent) Present for: Assessee by : Mr. Suchek Anchaliya Revenue by : Shri H.M. Bhatt (Sr. DR) Date of Hearing : 03.09.2024 Date of Pronouncement : 06.11.2024 O R D E R PER BENCH: All these eight appeals filed by the re…

S Chirag and Co, Mumbai vs. Income Tax Officer 19 (3) (1), Mumbai

In the result, the appeal of assessee is allowed

ITA 607/MUM/2024[2011-12]Status: DisposedITAT Mumbai31 May 2024AY 2011-12

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawalassessment Year: 2011-12

For Appellant: Shri Anant Pai, CAFor Respondent: Ms. Rajeshwari Menon, Sr.DR
Section 143(3)Section 147

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2011-12 S. Chirag and Company Income Tax Officer – 820-Parikh Market, 19(3)(1), Vs. 39, Kennedy Bridge, Opera House, Mumbai Mumbai – 400 004 (PAN : AACFS3699D) (Appellant) (Respondent) Present for: Assessee : Shri Anant Pai, CA Revenue : Ms. Rajeshwari Menon, Sr.DR Date of Hearing : 27.05.2024 Date of Pronouncement : 31.05.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the order of Ld. CIT(A), Natio…

Income Tax Officer, Ward-11(1), Hyderabad, Kondapur Hyderabad vs. Sangam Wires, Kalaburagi

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 371/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…rchases is to be added as additional income: i) Vithal Das & Co. in ITA No.755/Hyd/2017 ii)M/s. Amaravati vs. Dy.CIT – ITA No.1483 to 1486/Hyd/2023 iii) ACIT vs. Vaishnavi Bullion P Ltd – ITA No.560/Hyd/2020 iv) Gujarat High Court in Pr.CIT vs. Surya Impex – 451 ITR 395. 12.3 He also relied on the decisions of the Mumbai Bench of the Tribunal in the case of Shri Ganpatraj A Sanghavi vs. ACIT in ITA No.2286/Mum/2013 dated 5.11.2014 and the decision of the Hon'ble Bombay High Court in the case of PCIT vs. JK Surface Coatings (P) Ltd order dated 28th October, 2021. 13. He submitted that since the order of the learn…

Sangam Wires, Hyderabad vs. ITO., Ward-11(1), Hyderabad

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 356/HYD/2023[2021-22]Status: HeardITAT Hyderabad08 Apr 2024AY 2021-22

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

For Appellant: Shri M Chandramouleswara Rao, CAFor Respondent: : Smt. T.H Vijaya Lakshmi,CIT(DR)
Section 133(6)Section 143(1)(a)Section 143(2)

…rchases is to be added as additional income: i) Vithal Das & Co. in ITA No.755/Hyd/2017 ii)M/s. Amaravati vs. Dy.CIT – ITA No.1483 to 1486/Hyd/2023 iii) ACIT vs. Vaishnavi Bullion P Ltd – ITA No.560/Hyd/2020 iv) Gujarat High Court in Pr.CIT vs. Surya Impex – 451 ITR 395. 12.3 He also relied on the decisions of the Mumbai Bench of the Tribunal in the case of Shri Ganpatraj A Sanghavi vs. ACIT in ITA No.2286/Mum/2013 dated 5.11.2014 and the decision of the Hon'ble Bombay High Court in the case of PCIT vs. JK Surface Coatings (P) Ltd order dated 28th October, 2021. 13. He submitted that since the order of the learn…

Assistant Commissioner of Income Tax- 4(1)(1), Mumbai vs. Aczet Private Limited, Mumbai

In the result, appeal filed by the revenue is partly allowed as indicated above

ITA 3869/MUM/2023[2014-15]Status: DisposedITAT Mumbai05 Apr 2024AY 2014-15

Bench: Shri Amit Shukla, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 3708 & 3707/MUM/2023 (A.Ys: 2013-14&2014-15) Aczet Private Limited v. DCIT-Circle 4(1)(1) Plot No. 15, Unit No. E02, CEP Zone Aayakar Bhavan MIDC MarolOpp. Speez Mumbai 400020 Andheri (E), Mumbai – 400093 PAN: AABCC3800G (Appellant) (Respondent) ITA NOs. 3868 & 3869/MUM/2023 (A.Ys: 2013-14 & 2014-15) ACIT - Circle 4(1)(1) v. Aczet Private Limited Room No. 649, Aayakar Bhavan Shop No.3, Pushpanjali Building Gaushala Lane, Malad (E) M.K. Road,…

Aczet Private Limited, Mumbai vs. DCIT Circle 4(1)(1), Mumbai

In the result, appeal filed by the revenue is partly allowed as indicated above

ITA 3708/MUM/2023[2013-2014]Status: DisposedITAT Mumbai05 Apr 2024AY 2013-2014

Bench: Shri Amit Shukla, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 3708 & 3707/MUM/2023 (A.Ys: 2013-14&2014-15) Aczet Private Limited v. DCIT-Circle 4(1)(1) Plot No. 15, Unit No. E02, CEP Zone Aayakar Bhavan MIDC MarolOpp. Speez Mumbai 400020 Andheri (E), Mumbai – 400093 PAN: AABCC3800G (Appellant) (Respondent) ITA NOs. 3868 & 3869/MUM/2023 (A.Ys: 2013-14 & 2014-15) ACIT - Circle 4(1)(1) v. Aczet Private Limited Room No. 649, Aayakar Bhavan Shop No.3, Pushpanjali Building Gaushala Lane, Malad (E) M.K. Road,…

Aczet Private Limited, Mumbai vs. DCIT Circle 4(1)(1), Mumbai

In the result, appeal filed by the revenue is partly allowed as indicated above

ITA 3707/MUM/2023[2014-2015]Status: DisposedITAT Mumbai05 Apr 2024AY 2014-2015

Bench: Shri Amit Shukla, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 3708 & 3707/MUM/2023 (A.Ys: 2013-14&2014-15) Aczet Private Limited v. DCIT-Circle 4(1)(1) Plot No. 15, Unit No. E02, CEP Zone Aayakar Bhavan MIDC MarolOpp. Speez Mumbai 400020 Andheri (E), Mumbai – 400093 PAN: AABCC3800G (Appellant) (Respondent) ITA NOs. 3868 & 3869/MUM/2023 (A.Ys: 2013-14 & 2014-15) ACIT - Circle 4(1)(1) v. Aczet Private Limited Room No. 649, Aayakar Bhavan Shop No.3, Pushpanjali Building Gaushala Lane, Malad (E) M.K. Road,…

Amaravati, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-6(1), Hyderabad

In the result, the appeal of the assessee in ITA

ITA 1486/HYD/2019[2010-11]Status: DisposedITAT Hyderabad05 Sept 2023AY 2010-11

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Sri K.C. Devdas, C.AFor Respondent: Sri Shakeer Ahmed, Sr. A.R
Section 143(3)Section 147Section 148

…per law. 8. These three assessee’s appeals are partly allowed in above terms. A copy of this common order be placed in the respective case files.” 14. Besides that the decision of the Hon’ble Gujarat High Court in the case of PCIT Vs. Surya Impex (reported in 451 ITR 395) and the decision of this Bench in the case of ACIT Vs. Vaishnavi Bullion Private Limited in ITA No.560/Hyd/2020 are also available to support our above said view. 15. Considering the totality of the facts and circumstances of the case and adhering to the principle of consistency, we deem it proper to restrict the disallowance to 10% of the disa…

Amaravati, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-6(1), Hyderabad

In the result, the appeal of the assessee in ITA

ITA 1485/HYD/2019[2009-10]Status: DisposedITAT Hyderabad05 Sept 2023AY 2009-10

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Sri K.C. Devdas, C.AFor Respondent: Sri Shakeer Ahmed, Sr. A.R
Section 143(3)Section 147Section 148

…per law. 8. These three assessee’s appeals are partly allowed in above terms. A copy of this common order be placed in the respective case files.” 14. Besides that the decision of the Hon’ble Gujarat High Court in the case of PCIT Vs. Surya Impex (reported in 451 ITR 395) and the decision of this Bench in the case of ACIT Vs. Vaishnavi Bullion Private Limited in ITA No.560/Hyd/2020 are also available to support our above said view. 15. Considering the totality of the facts and circumstances of the case and adhering to the principle of consistency, we deem it proper to restrict the disallowance to 10% of the disa…

Amaravati, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-6(1), Hyderabad

In the result, the appeal of the assessee in ITA

ITA 1484/HYD/2019[2008-09]Status: DisposedITAT Hyderabad05 Sept 2023AY 2008-09

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Sri K.C. Devdas, C.AFor Respondent: Sri Shakeer Ahmed, Sr. A.R
Section 143(3)Section 147Section 148

…per law. 8. These three assessee’s appeals are partly allowed in above terms. A copy of this common order be placed in the respective case files.” 14. Besides that the decision of the Hon’ble Gujarat High Court in the case of PCIT Vs. Surya Impex (reported in 451 ITR 395) and the decision of this Bench in the case of ACIT Vs. Vaishnavi Bullion Private Limited in ITA No.560/Hyd/2020 are also available to support our above said view. 15. Considering the totality of the facts and circumstances of the case and adhering to the principle of consistency, we deem it proper to restrict the disallowance to 10% of the disa…

Amaravati, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-6(1), Hyderabad

In the result, the appeal of the assessee in ITA

ITA 1483/HYD/2019[2007-08]Status: DisposedITAT Hyderabad05 Sept 2023AY 2007-08

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Sri K.C. Devdas, C.AFor Respondent: Sri Shakeer Ahmed, Sr. A.R
Section 143(3)Section 147Section 148

…per law. 8. These three assessee’s appeals are partly allowed in above terms. A copy of this common order be placed in the respective case files.” 14. Besides that the decision of the Hon’ble Gujarat High Court in the case of PCIT Vs. Surya Impex (reported in 451 ITR 395) and the decision of this Bench in the case of ACIT Vs. Vaishnavi Bullion Private Limited in ITA No.560/Hyd/2020 are also available to support our above said view. 15. Considering the totality of the facts and circumstances of the case and adhering to the principle of consistency, we deem it proper to restrict the disallowance to 10% of the disa…

Diagold Designs Limited, Mumbai vs. DCIT-12(2)(1), Mumbai

In the result, both the appeals of the assessee, are partly allowed

ITA 445/MUM/2023[2010-11]Status: DisposedITAT Mumbai14 Aug 2023AY 2010-11

Bench: Shri Amit Shukla & Shri Gagan Goyal & Diagold Designs Limited, Cc2070, Bharat Diamond Bourse, Bandra Kurla Complex, Mumbai-400 051 ...... Appellant Vs. Dcit-12(2) (1) Aayakar Bhavan, M. K. Road, Mumbai-400 020 Pan – Aabcd3716 ..... Respondent

For Appellant: Shri Madhur Agrawal, Hitesh TrivediFor Respondent: Smt. Mahita Nair, CIT-DR
Section 10BSection 147Section 148Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & Diagold Designs Limited, CC2070, Bharat Diamond Bourse, Bandra Kurla Complex, Mumbai-400 051 ...... Appellant Vs. DCIT-12(2) (1) Aayakar Bhavan, M. K. Road, Mumbai-400 020 PAN – AABCD3716 ..... Respondent Appellant by : Shri Madhur Agrawal, Hitesh Trivedi Respondent by : Smt. Mahita Nair, CIT-DR Date of hearing : 08/06/2023 Date of pronouncement : 14/08/2023 ORDER PER GAGAN GOYAL, A.M: These appeals by assessee are directed against the order of Ld. CIT (A)-47, Mu…

Vishal Range Diam Pvt. Ltd., Surat vs. Income Tax Officer, Ward 2(1)(1), Surat

In the result, ground No. 2 of the appeal is partly allowed

ITA 227/SRT/2023[2013-14]Status: DisposedITAT Surat12 Jun 2023AY 2013-14

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Vishal Range Diam Pvt. Ltd., I.T.O., 10, R.T. Chamber, Dalagia Maahola, Ward 2(1)(1), Vs. Mahidharpura, Surat-395003. Surat. Pan: Aadcv 6738 J Appellant Respondednt

Section 143(3)Section 147Section 148Section 254(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Hearing in Virtual Court) Vishal Range Diam Pvt. Ltd., I.T.O., 10, R.T. Chamber, Dalagia Maahola, Ward 2(1)(1), Vs. Mahidharpura, Surat-395003. Surat. PAN: AADCV 6738 J APPELLANT RESPONDEDNT Assessee by Shri Mehul Shah, CA Department by Shri Vinod Kumar, Sr.DR Date of Institution of appeal 03/04/2023 Date of hearing 12/06/2023 Date of pronouncement 12/06/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by the assessee is…