Shwetambar Steels v. ITO Ahmedabad and Ganesh Rice Mills vs. CIT

Navnidhi Steel and Engg Co. P.Ltd, Mumbai vs. Pr.CIT-5, Mumbai

In the result, assessee’s appeal is allowed

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

…ITR 108 (Bom.); iv) CIT & Anr. v/s Gokuldas Exports & Ors., [2011] 333 ITR 214 (Kar.); v) CIT v/s Sohana Woollen Mills, [2008] 296 ITR 238 (P&H); vi) Venkata Krishna Rice Co. v/s CIT, [1987] 163 ITR 129 (Mad.); and vii) Shri Ganesh Rice Mills v/s CIT, [2007] 294 ITR 316 (All.). 4. The learned Departmental Representative strongly relying upon the observations of learned Principal CIT submitted that once the Assessing Officer came to the conclusion that the purchases made by the assessee were bogus, the entire purchases should have been added to the income of the assessee instead of restricting the addition to th…

ITO 12(3)(1), Mumbai vs. Krish Micro System Pvt. Ltd., Mumbai

In the result, appeal of the revenue is dismissed

Bench: Shri Shamim Yahya (Am) & Shri Pawan Singh (Jm) Income-Tax Officer Vs M/S Krish Micro System Pvt Ltd Ward 12(3)(1), Mumbai 204, Spring Leaf Chsl, Lokhandwala, Kandivali (E) Mumbai400 101 Pan : Aacck6090R Appellant Respondednt

…6.01.2017(SC) wherein the 100% disallowance on bogus purchases was upheld?" 4. "Whether on facts and circumstances of the case and in law, the CIT(A) erred in not relying on judgment of Hon'ble Allahabad High Court in the case of CIT Vs Shri Ganesh Rice Mills(294 ITR 316) without appreciating that the facts of the case are similar to those of the assessee?" 2. Brief facts of the case are that the assessee is a contractor of electronic device, filed return of income for AY 2010-11 on 12-10-2010 declaring total income at Rs.1,39,820/-. The return of income was processed under section 143(1). The assessment was re…

Income Tax Officer-11(3)(4), Mumbai vs. Western Imaginary Transcon Private Limited, Mumbai

In the result, appeal of the Revenue in ITA No

Bench: Shri Sandeep Gosain & Shri Ramit Kochar

….com 703 (Bom) (14) B.V vs. Union of India (2012) 204 Taxmann.com 408/ 17 Taxamann.com 202 (15) Union of India vs. Azadi Bachao Andolan (2004) 10 SCC 1 (16) Mathuram Agarwal v. State of Madhya Pradesh (1999) 8 SCC 667 (17) Sri Ganesh Rice Mills Vs. CIT (2007) 294 ITR 316 (All.) (18) Khandelwal Trading Co. vs. ACIT (1996) 55 TTJ 261 (JP) (19) Deoria Oxygen Company vs. CIT (2007) 160 Taxman 427 (ALL.) (20) Dhakeswari Cotton Mills Ltd. vs. CIT (1954) 26 ITR 775 (21) Seth Gurmukh Singh vs. CIT (1994) 12 ITR 393 (22) Samurai Software P. Ltd., vs. CIT (2008) 299 ITR 324 (Raj.) (23) CIT vs. La Medica (2001) 250 ITR 575…

Vedangi Ventures, Badlapur vs. Asst CIT Cir 2, Kalyan

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Sandeep Gosain & Shri G. Manjunathaassessment Year : 2012-13

…esult is rejected u/s. 145(3) of the Act. The disallowance @ 100% of unverifiable purchases made from Hawala/unverifiable dealers had been upheld in the following cases: (1) CIT vs. La Medica (2001) 250 ITR 575 (Del) (2) Sri. Ganesh Rice Mills vs. CIT (2007) 294 ITR 316 (All) (3) Khandelwal Trading Co. vs. ACIT (1996) 55 TTJ (JP) 261 (4) Swetambar Steels Ltd. vs. ITO 707/1075/1262/1263/JD(2002) ITAT (Ahd). Also upheld up to Supreme Court. (5) Ruchi Developers, ITAT ‘B’ Bench, Ahmedabad in ITA No. 3348/Ahd/201.0 - A.Y.2007-08 & ITA No. 1170/Ahd/2014 -A.Y.2007- 08. Date of order: 05.06.2015 has held that the appel…

Sanjay Lalchand Batthija, Mumbai vs. Income Tax Officer Ward-2(4), Kalyan

In the result, the appeal Assessee is partly allowed

Bench: Sri Mahavir Singh

…Aayakr ApIlaIya AiQakrNa “SMC” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JUDICIAL MEMBER Aayakr ApIla saM./ ITA No. 7142/Mum/2017 (inaQa-arNa baYa- / Assessment Year 2010-11) Sanjay Lalchand Bathija The Income Tax Officer, 301, Sai Ashirwad Ward 2(4), Kalyan 2nd Apartments, Opp. Dena Bank, Floor, Mohan Plaza, Vs. Netaji Chowk, Ulhasnagar-421 Wayale Nagar, 005 Khadakpada, Kalyan West, .. (p`%yaqaaI- / Respondent) (ApIlaaqaI- / Appellant) PAN NO. AFHPB8596C Assessee by : Sailesh Parmar, AR Revenue by : Virender Singh, DR Date of hearing: 14-05-20…

ITO 19(1)(2), Mumbai vs. Babulal U Munot, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4506/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2010-11) The Ito-19(1)(2), Mumbai, बिधम/ Shri Babulal U Munot 2Nd Floor, Matru Mandir, Prop. M/S. Steel Samrat Vs. (India) Flat No. 1901-A, 19Th Tardeo Road, Mumbai- 400007 Floor, Shreepati Tower, A Wing, Tatya Gharpure Path, Girgaon Mumbai-04 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aftpm5429H (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri T. A. Khan (Dr) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 26.03.2018 घोषणा की तारीख /Date Of Pronouncement: 11.05.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 15.05.2015 Passed By The Commissioner Of Income Tax (Appeals) -30, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. 2. The Revenue Has Raised The Following Grounds: - “(1) Whether, On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Restricting The Addition To The Extent Of 7.5% Of Non-Genuine Purchase Claimed By The Assessee A.Y.2010-11

…e concurrent finding of the authorities below, no question of law arises for this Court to interfere." 2.4.16 Hon’ble Allahabad High Court while dealing with the issue of bogus purchase in the case of Sri Ganesh Rice Mills v. Commissioner of Income-tax [2007] 294 ITR 316 (ALL.) held as under ''Where Assessing Officer had recorded a finding that in order to lower profits, bogus purchases had been introduced and Tribunal upheld such finding, addition on account of disallowance of such purchases was justified [Assessment year 1984-85] . The assesses was engaged in the production of gram, pulses, rice chunni-bhusi, e…

Jet Chemicals P.Ltd, Kalyan vs. Ast CIT Cir 1, Kalyan

Bench: Shri G. S. Pannu, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 3707/Mum/2017, (निर्धारणवर्ा / Assessment Year: 2010-11)

…f decisions by the various courts where 100% disallowance of bogus purchases, has been upheld. Some of these are enumerated as under: 100% disallowance of bogus / unverifiable purchases was upheld, in following cases: i) Sri Ganesh Rice Mills Vs. CIT (2007) 294 ITR 316 (All) (ii) Khandelwal Trading Co. Vs. ACIT (1996) 55 TTJ (JP) 261 (iii) Swetambar Steels Ltd. Vs. ITO 707/1075/1262/1263/JD (2002) ITAT (Alid) In the case of Swetambar Steels Ltd., the Hon'ble ITAT, Ahmedabad had confirmed the disallowance of the bogus purchases in entirety stating that the purchases shown from the respective parties were 14 I…

Apex Softcel (India) P. Ltd, Mumbai vs. DCIT 2(1), Mumbai

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

Bench: Shri D.T. Garasia & Shri Rajesh Kumar

…d. CIT(A). 6. We have heard the rival contentions of both the parties. Ld. D.R. relied upon the decision of the Tribunal, Ahmedabad Bench in 3 M/s. Apex Softcel (India) Pvt. Ltd. the cases of Shwetambar Steels vs. ITO Ahmedabad and Ganesh Rice Mills vs. CIT (294 ITR 316). The facts in the present case show that assessee could not produce the parties from whom goods are stated to have been purchased. The suppliers were found to be engaged in providing bogus bill without actual dealing of goods. In this regard, the assessee has stated that they had submitted quantitative details of stock with respect of the sales…

Kaviraj Construction, Mumbai vs. ACIT 16(3), Mumbai

In the result, appeals filed by the revenue as well as assessee are hereby ordered to be dismissed

Bench: Shri G.S. Pannu, Am & Shri Amarjit Singh, Jm

…e concurrent finding of the authorities below, no question of law arises for this Court to interfere." 2.5.13 Hon’ble Allahabad High Court while dealing with the issue of bogus purchase in the case of Sri Ganesh Rice Mills v. Commissioner of Income-tax [2007] 294 ITR 316 (ALL.), held as under: Where Assessing Officer had recorded a finding that in order to lower profits, bogus purchases had been introduced and Tribunal upheld such finding, addition on account of disallowance of such purchases was justified [Assessment year 1984-85 ITA. No. 1326, 1327/M/2015 A.Y. 2009-10& 2010-11 The assessee was engaged in the…