Vijay Trading Co. v. ITO

388 ITR 377High Court2016#889 most cited

What is Vijay Trading Co. v. ITO authority for?

When purchases are found bogus, only the profit element embedded therein, and not the entire purchase value, can be added to the assessee's income.

119

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2026.

Also referred to as

Vijay Trading Co v ITO · bogus purchases · entire purchases addition · profit element · gross profit addition · restricted disallowance · Section 37(1) · Section 69B · genuineness of purchases · Gujarat High Court

Also reported as

76 Taxmann.com 366

Sections most often in play

Section 115BBESection 153CSection 37(1)Section 131Section 44ABSection 69BSection 132(4A)Section 133A

Issues it is cited on

section 142(3)section 89section 147ofsection 142(2)section 69dsection 292csection 69bsection 33(4)audi alteram partemsection 292section 34(1)section 149(1)(b)

Judgments citing Vijay Trading Co. v. ITO

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 132/BANG/2023[2009-2010]Status: DisposedITAT Bangalore24 Jul 2023AY 2009-2010

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…nst the assessee in relation to the questions at the instance of the assessee, and in favour of the assessee and against the Revenue in relation to the questions at the instance of the Revenue.” 6.13 In the case of Vijay Trading Co. vs. ITO reported in (2016) 388 ITR 377 (Guj), the Hon’ble Gujarat High Court has held as under: “Held, that it was not the entire amount covered by such purchase, but the profit element embedded therein which would be subject to tax. It would be appropriate to restrict the disallowance made in this regard to 25 per cent of the cost of such purchases in each year.” 6.14 In the case of…

M/S. Spr Spirits Private Limited (Formerly Known As Spr Group Holdings Private Limited), Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, the appeals of the assessee are partly allowed for statistical purposes

ITA 131/BANG/2023[2008-2009]Status: DisposedITAT Bangalore24 Jul 2023AY 2008-2009

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Bharath L., A.RFor Respondent: Ms. Neera Malhotra, D.R

…nst the assessee in relation to the questions at the instance of the assessee, and in favour of the assessee and against the Revenue in relation to the questions at the instance of the Revenue.” 6.13 In the case of Vijay Trading Co. vs. ITO reported in (2016) 388 ITR 377 (Guj), the Hon’ble Gujarat High Court has held as under: “Held, that it was not the entire amount covered by such purchase, but the profit element embedded therein which would be subject to tax. It would be appropriate to restrict the disallowance made in this regard to 25 per cent of the cost of such purchases in each year.” 6.14 In the case of…

ACIT Central Circle-2(1), Mumbai vs. M/S. G Trade and Capital Venture Pvt. Ltd., Mumbai

In the result, application

ITA 3211/MUM/2022[2014-15]Status: DisposedITAT Mumbai31 May 2023AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3038/MUM/2022[2019-20]Status: DisposedITAT Mumbai31 May 2023AY 2019-20

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3037/MUM/2022[2018-19]Status: DisposedITAT Mumbai31 May 2023AY 2018-19

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3036/MUM/2022[2017-18]Status: DisposedITAT Mumbai31 May 2023AY 2017-18

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3035/MUM/2022[2016-17]Status: DisposedITAT Mumbai31 May 2023AY 2016-17

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3034/MUM/2022[2015-16]Status: DisposedITAT Mumbai31 May 2023AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

Asstt. Commissioner of Income Tax Central-Circle-2(1), Mumbai vs. M/S Gm Modular Pvt Ltd, Mumbai

In the result, application

ITA 3033/MUM/2022[2014-15]Status: DisposedITAT Mumbai31 May 2023AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3033 To 3038/Mum/2022 Assessment Years: 2014-15 To 2019-2020 Asstt. Cit Central Circle-2(1), M/S Gm Modular Pvt. Ltd., Old Cgo Building, 804, 8Th 8/9 Bokadia Industrial Vs. Floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. Pan No. Aabcg 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. Cit Central Circle-2(1), M/S G Trade & Capital Old Cgo Building, 804, 8Th Venture Pvt. Ltd., Vs. Floor, M.K. Road, 6 G Laxmi Industrial Estate, Mumbai-400020. New Linking Road, Andheri (West) Mumbai-400053. Pan No. Aadcg 7583 Q Appellant Respondent

For Appellant: Mr. Naresh Jain a/wFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 132Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) ITA Nos. 3033 to 3038/MUM/2022 Assessment Years: 2014-15 to 2019-2020 Asstt. CIT Central Circle-2(1), M/s GM Modular Pvt. Ltd., Old CGO Building, 804, 8th 8/9 Bokadia Industrial Vs. floor, M.K. Road, Estate Waliv, Sativali Road, Mumbai-400020. Vasai East Vasai Palghar-401 208. PAN No. AABCG 3313 Q Appellant Respondent Assessment Year: 2014-15 Asstt. CIT Central Circle-2(1), M/s G Trade and Capital Old CGO Building, 804, 8th Venture Pvt. Ltd., Vs. floor, M.K. Road, 6…

The DCIT, Central Circle-3, Baroda vs. M/S. Ultra Tech Transmission, Baroda

In the result, appeal of the Revenue is partly allowed for assessment year 2016-17

ITA 396/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad16 Nov 2022AY 2012-13
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA Nos. 393, 394, 395, 396 & 1661 /Ahd/2019 Assessment Years 2009-10 to 2012-13 & 2016-17 The Deputy Commissioner M/s. Ultratech of Income Tax, Transmission Pvt. Ltd, Central Circle-3, Vs GF-1, Radhakrishna Flat, 603, 6th Floor, Plot No. -7, Shanti Aayakar Bhavan, Niketan, SOC Race Course Circle, Nr. ESI Hospital, Vadodara-390007 Opp. Haveli Productivity (Appellant) Road, Alkapuri, Vadodara PAN: AABCU3751A (Respondent) Assessee by: Shri S.N. Soparkar, A.R. Reven…

The DCIT, Central Circle-3, Baroda vs. M/S. Ultra Tech Transmission, Baroda

In the result, appeal of the Revenue is partly allowed for assessment year 2016-17

ITA 395/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad16 Nov 2022AY 2011-12
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA Nos. 393, 394, 395, 396 & 1661 /Ahd/2019 Assessment Years 2009-10 to 2012-13 & 2016-17 The Deputy Commissioner M/s. Ultratech of Income Tax, Transmission Pvt. Ltd, Central Circle-3, Vs GF-1, Radhakrishna Flat, 603, 6th Floor, Plot No. -7, Shanti Aayakar Bhavan, Niketan, SOC Race Course Circle, Nr. ESI Hospital, Vadodara-390007 Opp. Haveli Productivity (Appellant) Road, Alkapuri, Vadodara PAN: AABCU3751A (Respondent) Assessee by: Shri S.N. Soparkar, A.R. Reven…

The DCIT, Central Circle-3, Baroda vs. M/S. Ultra Tech Transmission, Baroda

In the result, appeal of the Revenue is partly allowed for assessment year 2016-17

ITA 394/AHD/2019[2010-11]Status: DisposedITAT Ahmedabad16 Nov 2022AY 2010-11
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA Nos. 393, 394, 395, 396 & 1661 /Ahd/2019 Assessment Years 2009-10 to 2012-13 & 2016-17 The Deputy Commissioner M/s. Ultratech of Income Tax, Transmission Pvt. Ltd, Central Circle-3, Vs GF-1, Radhakrishna Flat, 603, 6th Floor, Plot No. -7, Shanti Aayakar Bhavan, Niketan, SOC Race Course Circle, Nr. ESI Hospital, Vadodara-390007 Opp. Haveli Productivity (Appellant) Road, Alkapuri, Vadodara PAN: AABCU3751A (Respondent) Assessee by: Shri S.N. Soparkar, A.R. Reven…

The DCIT, Central Circle-3, Baroda vs. Ultra Tech Transmission, Baroda

In the result, appeal of the Revenue is partly allowed for assessment year 2016-17

ITA 393/AHD/2019[2009-10]Status: DisposedITAT Ahmedabad16 Nov 2022AY 2009-10
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA Nos. 393, 394, 395, 396 & 1661 /Ahd/2019 Assessment Years 2009-10 to 2012-13 & 2016-17 The Deputy Commissioner M/s. Ultratech of Income Tax, Transmission Pvt. Ltd, Central Circle-3, Vs GF-1, Radhakrishna Flat, 603, 6th Floor, Plot No. -7, Shanti Aayakar Bhavan, Niketan, SOC Race Course Circle, Nr. ESI Hospital, Vadodara-390007 Opp. Haveli Productivity (Appellant) Road, Alkapuri, Vadodara PAN: AABCU3751A (Respondent) Assessee by: Shri S.N. Soparkar, A.R. Reven…

The DCIT, Central Circle-3, Baroda vs. M/S. Ultratech Transmission Pvt. Ltd, Baroda

In the result, appeal of the Revenue is partly allowed for assessment year 2016-17

ITA 1661/AHD/2019[2016-17]Status: DisposedITAT Ahmedabad16 Nov 2022AY 2016-17
For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA Nos. 393, 394, 395, 396 & 1661 /Ahd/2019 Assessment Years 2009-10 to 2012-13 & 2016-17 The Deputy Commissioner M/s. Ultratech of Income Tax, Transmission Pvt. Ltd, Central Circle-3, Vs GF-1, Radhakrishna Flat, 603, 6th Floor, Plot No. -7, Shanti Aayakar Bhavan, Niketan, SOC Race Course Circle, Nr. ESI Hospital, Vadodara-390007 Opp. Haveli Productivity (Appellant) Road, Alkapuri, Vadodara PAN: AABCU3751A (Respondent) Assessee by: Shri S.N. Soparkar, A.R. Reven…

Bardhaman Dharmaraj Paper Mill Pvt. Ltd., Kolkata vs. PCIT- Central, Asansol

In the result, the appeal of the assessee stands allowed

ITA 160/KOL/2021[2014-15]Status: DisposedITAT Kolkata10 Oct 2022AY 2014-15

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.160/Kol/2021 Assessment Year: 2014-15 Bardhaman Dharmaraj Paper Mill Pvt. Ltd.........................................……Appellant C/O Subash Agarwal & Associates, Advocates Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata-700069. [Pan: Aaecb0141J] Vs. Pcit (Central), Asansol......….…..…...................……........……...…..…..Respondent Appearances By: Shri Subash Agarwal, Advocate & Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Md. Ghayasuddin, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : September 06, 2022 Date Of Pronouncing The Order : October 10, 2022 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 31.03.2021 Of The Principal Commissioner Of Income Tax (Hereinafter Referred To As The ‘Pcit’) Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Brief Facts Are That The Assessment In This Case Of The Assessee Was Reopened U/S 147 Of The Act To Verify The Transactions Of The Assessee With The Party M/S Siddhi Enterprises Due To Discrepancy Found In The Accounts. 3. The Assessing Officer Noted That The Assessee Had Failed To Prove The Genuineness Of The Purchases Made From M/S Siddhi Enterprises. However, He Further Noted That The Assessee Not Only Had Shown Such Purchases In The Books Of Account But Also Had Recorded Corresponding Sales Thereto. Therefore, The Assessing Officer Held That Since The

Section 147Section 263

…The ld. counsel has further relied upon the following decisions to submit that even otherwise, it has been held by the various High Courts that in such circumstances the action of the Assessing Officer in estimating GP rate was justified: 5. Vijay Trading Co 388 ITR 377 (Guj) 6. Nangalia Fabrics 40 taxmann.com 206 (Guj) 7. M/s Diagnostics, ITA No.153 of 200 (Cal) 8. M/s Mohammad Hazi Adam & Co. (bom.) ITA No.1004 of 2006. 6. The ld. DR, on the other hand, has submitted that the ld. PCIT has rightly invoked his jurisdiction u/s 263 of the Act as the Assessing Officer has not added the entire bogus purchases in th…

The ITO, Ward-9(2), Ahmedabad vs. M/S. Bhailalbhai A.Patel, Ahmedabad

In the result appeal of the revenue is hereby dismissed

ITA 308/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2009-10

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: ITA Nos. 2610/Ahd/2011 & 308/Ahd/2013 a/w. CO No.64/Ahd/13For Respondent: Shri Alok Kumar, CIT.DR
Section 133ASection 69

…as a legal question, as to whether the undisclosed purchase could be taken as the additional income without reference to the possible sale of the paddy when converted. 10. The assessee refers to a judgment of the Gujarat High Court Vijay Trading v. ITO [2016] 388 ITR 377/76 taxmann.com 366. The principle enunciated in such judgment is that when undisclosed purchases of such nature are discovered, it is only the profit embedded in the transaction which can be added to the total income. The Gujarat High Court relied on some of its previous judgments to hold that "not the entire purchase price but only the profit el…

The DCIT, Circle-9, Ahmedabad vs. M/S. Bhailalbhai A.Patel, Ahmedabad

In the result appeal of the revenue is hereby dismissed

ITA 2610/AHD/2011[2008-09]Status: DisposedITAT Ahmedabad17 Aug 2022AY 2008-09

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

For Appellant: ITA Nos. 2610/Ahd/2011 & 308/Ahd/2013 a/w. CO No.64/Ahd/13For Respondent: Shri Alok Kumar, CIT.DR
Section 133ASection 69

…as a legal question, as to whether the undisclosed purchase could be taken as the additional income without reference to the possible sale of the paddy when converted. 10. The assessee refers to a judgment of the Gujarat High Court Vijay Trading v. ITO [2016] 388 ITR 377/76 taxmann.com 366. The principle enunciated in such judgment is that when undisclosed purchases of such nature are discovered, it is only the profit embedded in the transaction which can be added to the total income. The Gujarat High Court relied on some of its previous judgments to hold that "not the entire purchase price but only the profit el…

Rahul Kalubhai Kakadia, Varachha vs. ITO, Ward 3(3)(4), Surat

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

ITA 495/SRT/2019[2014-15]Status: DisposedITAT Surat04 Feb 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Shri Rahul Kalubhai Kakadia Income Tax Officer 59,Vishnu Nagar-1, Ankur Ward-3(3)(4), Surat Vs Chowkdi, Nr. Mini Bazar, A.K.Road, Varachha, Surat- 395 008 Pan Aolpk 7873 G Nvbunha@Yahoo.Co.In Appellant / Assessee Respondent / Revenue

Section 133(6)Section 143(3)Section 254(1)

…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) Shri Rahul Kalubhai Kakadia Income Tax Officer 59,Vishnu Nagar-1, Ankur Ward-3(3)(4), Surat Vs Chowkdi, Nr. Mini Bazar, A.K.Road, Varachha, Surat- 395 008 PAN AOLPK 7873 G nvbunha@yahoo.co.in Appellant / assessee Respondent / Revenue Assessee by Shri Hiren R. Vepari, CA Revenue by Ms. Anupama Singla,Sr-DR Date of hearing 08.02.2022 Date of pronouncement 08.02.2022 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. T…

D.C.I.T., Circle-9(1), Kolkata vs. M/S Shree Anjani Sarees Pvt. Ltd., Kolkata

In the result, the appeal of the revenue is dismissed and the C

ITA 30/KOL/2020[2016-17]Status: DisposedITAT Kolkata21 Apr 2021AY 2016-17

Bench: Shri P. M. Jagtap, Vice-(Kz) & Shri A. T. Varkey, Jm]

Section 133A

…e Tribunal, which was a legal question, as to whether the undisclosed purchase could be taken as the additional income without reference to the possible sale of the paddy when converted. The assessee refers to a judgment of the Gujarat High Court reported at 388 ITR 377. The principle enunciated in such judgment is that when undisclosed purchases of such nature are discovered, it is only the profit embedded in the transaction which can be added to the total income. The Gujarat High Court relied on some of its previous judgments to hold that "not the entire purchase price but only the profit element embedded in s…

Mrs. Premlata Tekriwal, Kolkata vs. Principal CIT - 10, Kolkata

In the result, all the appeals of these assessees are allowed

ITA 1129/KOL/2018[2009-10]Status: DisposedITAT Kolkata14 Jan 2021AY 2009-10

Bench: Sri J. Sudhakar Reddy & Sri A. T. Varkey

Section 139Section 147Section 263Section 271(1)(c)

…te Tribunal, which was a legal question, as to whether the undisclosed purchase could be taken as the additional income without reference to the possible sale of the paddy when converted. The assessee refers to a judgment of the Gujarat High Court reported at 388 ITR 377. The principle enunciated in such judgment is that when undisclosed purchases of such nature are discovered, it is only the profit embedded in the transaction which can be added to the total income. The Gujarat High Court relied on some of its previous judgments to hold that "not the entire purchase price but only the profit element embedded in s…