Vijay Proteins Ltd. v. Asst. CIT

Shri Ramesh C.Shah, Mumbai vs. Income Tax Officer 19(3)(1), Mumbai

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Nikhil R. Dharia, Mumbai vs. ACIT-19(2), Mumbai

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh, Assessment Year: 2009-10 Nikhil R Dharia, Acit-19(2), B-7, Utkarsh Tilak Nagar, Matru Mandir, बनाम/ V. P. Road, Tardeo Road, Vs. Mumbai-400004 Mumbai-400007 "नधा"रती / Assessee राज"व / Revenue P.A. No.Addpd8065A

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 11 Nikhil R. Dharia 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did pu…

Dhiraj Babulal Jain, Mumbai vs. Income Tax Officer 19(1)(4), Mumbai

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2010-11

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Mukesh P. Jain, Mumbai vs. Income Tax Officer 19(2)(3), Mumbai

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2009-10

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Mr.Piraram Chouhan, Mumbai vs. Income Tax Officer 19(2)5, Mumbai

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Mr.Piraram Chouhan, Mumbai vs. Income Tax Officer 19(2)5, Mumbai

The appeals of the assessee are dismissed

Bench: Shri Joginder Singh

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

M/S.Diamex Sourcing Private Limited, Mumbai vs. Income Tax Officer 5(1)(3), Mumbai

The appeal of the assessee is dismissed

Bench: Shri Joginder Singh, Assessment Year: 2013-14

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

P S Auto Private Limited, Mumbai vs. ACIT Circle-3, Thane

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh, Assessment Year: 2009-10

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Nikunj Yogesh Vora, Mumbai vs. Income Tax Officer 19(2)(4), Mumbai

In the result, appeal filed by the assessee is hereby ordered to be partly allowed

Bench: Shri B. R. Baskaran, Am & Shri Amarjit Singh, Jm

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI B. R. BASKARAN, AM AND SHRI AMARJIT SINGH, JM I.T.A. No.1852/M/2018 (Assessment Years: 2011-12) Shri Nikunj Yogesh Vora Vs. ITO, 19(2)(4) Room No.21, D.S. Kapol Room No.217, 2nd Floor, Niwas, S.V.P. Road, 4th Matru Mandir, Tardeo Khetwadi, Girgaon, Mumbai- Road, Mumbai-400007. 400004. स्थायीलेखासं./जीआइआरसं./PAN/GIR No. : AFGPV4725H (Appellant) .. (Respondent) Assessee by: Shri Neelkanth Khandelwal Department by: Shri N. Hemalatha (Sr. AR) Date of Hearing: 28.06.2018 Date of Pronouncement: 26.09.2018 O R D E R PER AMARJIT SINGH, JM: The assess…

Girish Narapatchand Kanungo, Mumbai vs. ITO 19(1)(3), Mumbai

In the result, the appeal of the assessee in ITA no

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.1587/Mum/2017 (नििाारण वर्ा / Assessment Year : 2009-10) बिाम/ Mr. Girish Narapatchand Ito 19(1)(3) Kanungo Matru Mandir, Prop. M/S. Tirupati Impex, Mumbai V. Flat No. 3, 2 Nd Floor, 5 Ramniwas Bldg, 2Nd Parsiwada Lane, Opp. V.P Road Police Station, Mumbai 400004 स्थायी ऱेखा सं./ Pan : Aoapk9201M (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: None Revenue By : Shri. C.S. Sharma सुनवाई की तारीख /Date Of Hearing : 19.09.2018 घोषणा की तारीख /Date Of Pronouncement : 26.09.2018 आदेश / O R D E R Per Ramit Kochar: This Appeal, Filed By Assessee, Being Ita No. 1587/Mum/2017, Is Directed Against Appellate Order Dated 22.12.2016 Passed By Learned Commissioner Of Income Tax (Appeals)-30, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2009-10, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 10.03.2015 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) R.W.S. 147 Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Ay 2009-10. I.T.A. No.1587/Mum/2017

…such estimation. While arriving at the above conclusion, the Hon'bie Court also relied on the decision in the case of Vijay M. Mistry Construction Ltd. 355 1TR 498 (Guj) and further approved the decision of Ahmedabad Bench, ITAT in the case of Vijay Proteins 58 ITD 428. 5.10 In the present case, AO concluded that the assessee indulged in non-genuine transaction and intention of indulging in such activity is to suppress the true profits and to reduce the tax liability. Therefore, in such circumstances, addition on account of a higher margin of profit would be fair and equitable which is supported by the above dec…

Pushpak Auxichem P. Ltd, Thane vs. ITO WD 1(3), Kalyan

The appeal of the assessee is partly allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Pushpak Auxichem Pvt. Income Tax Officer Ltd. Ward-1(3), बनाम/ 241/Business-2, Kasturi Mohan Plaza, 1St Floor, Vs. Plaza, 2Nd Floor, Manpada Wayle Nagar, Road, Dombivali (East), Khadak Pada, Thane-421201 Kalyan-421301 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aabcp0099E

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

ITO 6(3)(2), Mumbai vs. Jaydeep Profiles P.Ltd, Mumbai

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the 47 & 2698/M…

Jaydeep Profiles Pvt. Ltd., Mumbai vs. ITO WD 6 (3)(2), Mumbai

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2009-10 Income Tax Officer 6(3)(2), Jaydeep Profiles P. Ltd., R No.503, 5Th Floor, Aayakar 142/7 Lakdi Bunder Road, बनाम/ Bhavan, M.K.Road, Darukhana, Reay Road, Vs. Mumbai 400 020 Mumbai 400 086 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacj8998B Assessment Year: 2009-10 Jaydeep Profiles P. Ltd., Income Tax Officer 6(3)(2), 142/7 Lakdi Bunder Road, R No.503, 5Th Floor, Aayakar बनाम/ Darukhana, Reay Road, Bhavan, M.K.Road, Vs. Mumbai 400 086 Mumbai 400 020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaacj8998B 2 & 2698/Mum/2016

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the 47 & 2698/M…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were 174 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . allegedly made were bogus is essential…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were 174 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . allegedly made were bogus is essential…

DCIT Cen Cir 4(2), Mumbai vs. Sudhakar M. Shetty, Mumbai

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were 174 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . allegedly made were bogus is essential…

Jayprakash N Lakhani, Ulhasnagar vs. Jt CIT RG 2, Kalyan

The appeal of the assessee is partly allowed for

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year:2010-11 Jayprakash N Lakhani, Jcit-2, Block No.1-975/1950, 2Nd Floor, Mohan Plaza, बनाम/ Kailash Colony, Ot Section, Wayle Nagar, Khadakpada, Vs. Ulhansnagar, Kalyan West, Maharashtra-421005 Maharashtra-421301 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aakpl5145M

…but the profit margin embedded in such amount would be subjected to tax. The Tribunal relied on its earlier decision in the case of Sanket Steel Traders and also made reference to the Tribunal's decision in the case of Vijay Proteins Ltd. v. Asst. CIT [1996] 58 ITD 428 (Ahd). 6. We are of the opinion that the Tribunal committed no error. Whether the purchases themselves were bogus or whether the parties from whom such purchases were allegedly made were bogus is essentially a question of fact. The Tribunal having examined the evidence on record came to the conclusion that the assessee did purchase the cloth and s…

Asst CIT 19(3), Mumbai vs. Yogesh Construction, Mumbai

In the result, appeal filed by the revenue as well as the Cross

Bench: Shri B.R. Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2010-11 The Acit-19(3), M/S Yogesh Construction, Matru Mandir, 2Nd Floor, 1/11, 1St Floor, R. No. 206, Tardeo Road, 25- Harharwala Building, Mumbai - 400007 Vs. S.V.P. Road, Mumbai - 400004 Pan: Aaafy6766D (Appellant) (Respondent) Co No. 164/Mum/2018 Assessment Year: 2010-11 M/S Yogesh Construction, The Acit-19(3), 1/11, 1St Floor, Matru Mandir, 2Nd Floor, 25- Harharwala Building, R. No. 206, Tardeo Road, S.V.P. Road, Vs. Mumbai - 400007 Mumbai - 400004 Pan: Aaafy6766D (Appellant) (Respondent) Revenue By : Shri V. Vidhyadhar (Sr. Dr) Assessee By : Shri Rahul Hakani (Ar) Date Of Hearing: 19/07/2018 Date Of Pronouncement: 31/07/2018

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “G”, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2010-11 The ACIT-19(3), M/s Yogesh Construction, Matru Mandir, 2nd Floor, 1/11, 1st Floor, R. No. 206, Tardeo Road, 25- Harharwala Building, Mumbai - 400007 Vs. S.V.P. Road, Mumbai - 400004 PAN: AAAFY6766D (Appellant) (Respondent) CO No. 164/MUM/2018 Assessment Year: 2010-11 M/s Yogesh Construction, The ACIT-19(3), 1/11, 1st Floor, Matru Mandir, 2nd Floor, 25- Harharwala Building, R. No. 206, Tardeo Road, S.V.P. Road, Vs. Mumbai - 400007 Mumbai - 400004 PAN: AAAFY6766D (Appell…