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.

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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

Exotic Jewels, Surat vs. Income Tax Officer, Ward-2(3)(7), Surat

In the result, this appeal of assessee is partly allowed

ITA 29/SRT/2023[2010-11]Status: DisposedITAT Surat25 Apr 2023AY 2010-11

Bench: Shri Pawan Singh(Virtual Hearing) Exotic Jewels, I.T.O., 304, Kohinoor Complex, Chowky Sheri, Ward 2(3)(7), Vs. Sayedpura, Surat-395003. Surat. Pan No. Aabfe 2823 Q Appellant/ Assessee Respondent/ Revenue

Section 132Section 147Section 148Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH (SMC), SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER (Virtual hearing) Exotic Jewels, I.T.O., 304, Kohinoor Complex, Chowky Sheri, Ward 2(3)(7), Vs. Sayedpura, Surat-395003. Surat. PAN No. AABFE 2823 Q Appellant/ assessee Respondent/ revenue Assessee represented by Shri P.M. Jagasheth, CA Department represented by Shri Vinod Kumar, Sr. DR Date of Institution of appeal 17/01/2023 Date of hearing 25/04/2023 Date of pronouncement 25/04/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by the assessee is directed ag…