MADHAV COPPER LTD.,BHAVNAGAR vs. THE INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR

In the result, all six appeals, three by the Revenue and three by the assessee, stand dismissed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

addition in respect of bogus purchases at the rate of 6 per cent of total purchases considering only income component

INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR vs. MADHAV COPPER LIMITED, BHAVNAGAR

In the result, all six appeals, three by the Revenue and three by the assessee, stand dismissed

Bench: S/Shri Sanjay Garg & Makarand V.Mahadeokar

addition in respect of bogus purchases at the rate of 6 per cent of total purchases considering only income component

RUDRA GLOBAL INFRA PRODUCTS LTD.,BHAVNAGAR vs. THE ACIT, CIRCLE-1, BHAVNAGAR

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

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

addition to extent of 12.5 per cent of bogus purchases. In further appeal, the Gujarat High Court held that since purchases were not entirely bogus but were made from parties other than those mentioned in books of account, only profit element embedded in such purchases could be added to assessee's income

SHRI PRAVIN SHIVLAL SHAH,,VADODARA vs. THE ITO, WARD-5(3),, BARODA

In the result, both the appeals filed by the Assessee is partly allowed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

bogus, it will lead to an absurd situation since sales of products purchased from these parties have already been treated as income Thus the sales related to these purchases will be taxed entirely without any deduction toward cost of purchases. What should be taxed is only net income. In case the purchases are added, what will be taxed will

SHRI KIRTIKUMAR VASANTBHAI THAKKAR,,PATAN vs. THE INCOME TAX OFFICER, WARD-1,, PATAN

In the result, both the grounds of the appeal of the assessee are dismissed

bogus purchases". 1.2 That on the facts and in the circumstances of the case and as per law, learned CIT (Appeals) erred in determining the additions @25% of the unproved purchases without considering the fact that appellant is a Trader in food grains on wholesale market and he maintains quantity records. Hence, disallowance sustained by the Learned CIT (Appeals

DCIT, CIRCLE -2(1)(1), AHMEDABAD, PRAHLAD NAGAR vs. PANCHAM DEVELOPERS, CHANDKHEDA

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

Bench: Shri Tr Senthil Kumar & Shri Narendra Prasad Sinhaassessment Years: 2017-18

purchases of Rs. 3,50,55,146/- made from the four parties as bogus and accordingly made the addition. The assessment was completed u/s 143(3) on 27.12.2019 at total income

THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

income of assessee - Commissioner (Appeals) was of opinion that purchases were not bogus, he however taxed 25 per cent of amount - Tribunal noted that GP rate and net profit rate of year under consideration were better than previous year, stock register was properly maintained and purchases in question were reflected in such stock register - Tribunal thus reduced addition

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

income of assessee - Commissioner (Appeals) was of opinion that purchases were not bogus, he however taxed 25 per cent of amount - Tribunal noted that GP rate and net profit rate of year under consideration were better than previous year, stock register was properly maintained and purchases in question were reflected in such stock register - Tribunal thus reduced addition

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GUJARAT TERCE LABORATORIES LTD.,, AHMEDABAD

The appeal of the Revenue are allowed

income of assessee - Commissioner (Appeals) was of opinion that purchases were not bogus, he however taxed 25 per cent of amount - Tribunal noted that GP rate and net profit rate of year under consideration were better than previous year, stock register was properly maintained and purchases in question were reflected in such stock register - Tribunal thus reduced addition

SHRI BHUPENDRA S. CHOKSHI,VADODARA vs. THE DCIT, CIRCLE 1 (2), , VADODARA

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

Bench: Smt.Annapurna Guptaasstt.Year : 2007-08 Shri Bhupendra S. Chokshi Dcit, Cir.1(2) Prop: S. Kanjibhai Jewellers Vs Vadodara. Sb-35-36, Siddarth Complex Rc Dutt Road Vadodara 390 005 Pan : Abfpc 5333C

addition of bogus purchases noting the fact that the impugned purchases had been admitted to be bogus by the parties from whom the purchases had been made and admitted to be only bills issued for accommodation entry purpose. He pointed out that the ld.CIT(A) further noted that the assessee was unable to prove the genuineness of the purchases, having

THE ITO, WARD-4(2)(5),, AHMEDABAD vs. M/S. SHUBH CONSTRUCTION,, AHMEDABAD

In the result, the appeal of the revenue is dismissed

Income Tax Act, 1961; in short “the Act”. 2. The revenue has raised following grounds of appeal:- “1. The Ld. ClT(A) has erred on facts and in law in deleting the addition of R/1,08,94,360/-out of the total addition made of Rs.1,24,50,697/- on account of bogus purchases

BHAGAT MARKETING PVT LTD,AHMEDABAD vs. PCIT-1, AHMEDABAD

In the result, in light of the above observations and the judicial precedents on the subject, the appeal of the assessee is allowed

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

additions so far as bogus purchases are concerned. The second contention of the Counsel for the assessee is that even if the purchases were to be considered as bogus, the assessing officer took a legally plausible view and made a disallowance/addition of 12.5% and added the same to the income

SHRI NITESH G.THAKKAR,PATAN vs. THE ACIT.,CENT.CIRCLE-1(1),, AHMEDABAD

In the result, respective appeals of both Revenue and Assessee are dismissed

Bench: Shri S.S. Godara & Shri Pradip Kumar Kedia1. आयकर अपील सं./I.T.A. No.948/Ahd/2012 2. आयकर अपील सं./I.T.A. No.1460/Ahd/2012 ("नधा"रण वष" / Ay : 2008-09) 1.Acit 1. Deep Cotton बनाम/ Central Cirle-1(1) Industries Vs. Ahmedabad Prop.Of Nitesh Gunvantilal Thakkar Jaska Road, Harji, Dist.Patan -384 240 2. The Acit 2. M/S.Deep Cotton Industries Central Circle-1(1) Prop.Of Nitesh Gunvantlal Ahmedabad Thakkar Dist.Patan-384 240 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adwpt 3924 H .. (अपीलाथ" /Appellants) (""यथ" / Respondents) Revenue By : Shri K.Madhusudan, Sr.Dr Assessee By : Shri M.J. Shah, Ar

bogus purchases without any specific evidence or law. 4. The Assessing Officer has erred in law as well as on facts by initiation of penalty proceedings u/s.271(1)(c) for concealment of income without any specific evidence or law. 4. Since both the appeals are inter-connected and concerns the common issue of addition

THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD vs. M/S. DEEP COTTON INDUSTRIES, PATAN

In the result, respective appeals of both Revenue and Assessee are dismissed

Bench: Shri S.S. Godara & Shri Pradip Kumar Kedia1. आयकर अपील सं./I.T.A. No.948/Ahd/2012 2. आयकर अपील सं./I.T.A. No.1460/Ahd/2012 ("नधा"रण वष" / Ay : 2008-09) 1.Acit 1. Deep Cotton बनाम/ Central Cirle-1(1) Industries Vs. Ahmedabad Prop.Of Nitesh Gunvantilal Thakkar Jaska Road, Harji, Dist.Patan -384 240 2. The Acit 2. M/S.Deep Cotton Industries Central Circle-1(1) Prop.Of Nitesh Gunvantlal Ahmedabad Thakkar Dist.Patan-384 240 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adwpt 3924 H .. (अपीलाथ" /Appellants) (""यथ" / Respondents) Revenue By : Shri K.Madhusudan, Sr.Dr Assessee By : Shri M.J. Shah, Ar

bogus purchases without any specific evidence or law. 4. The Assessing Officer has erred in law as well as on facts by initiation of penalty proceedings u/s.271(1)(c) for concealment of income without any specific evidence or law. 4. Since both the appeals are inter-connected and concerns the common issue of addition

GUJARAT VAIBHAV PUBLICATIONS PVT. LTD.,AHMEDABAD vs. THE ITO, WARD-2(1)(1), AHMEDABAD

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

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

income out of bogus purchase, the Ld. Sr. DR submitted that no addition for entire bogus purchase was made, rather

GUJARAT VAIBHAV PUBLICATIONS PVT. LTD.,AHMEDABAD vs. THE ITO, WARD-2(1)(1), AHMEDABAD

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

Bench: Shri Sanjay Garg & Shri Narendra Prasad Sinha

income out of bogus purchase, the Ld. Sr. DR submitted that no addition for entire bogus purchase was made, rather

THE DY. CIT, (OSD)-I, CIRCLE-4,, AHMEDABAD vs. M/S. KINTECH SYNERGY PVT. LTD., AHMEDABAD

In the result, the appeals are dismissed

bogus. The view finds supports from the following judgements: - i. CIT v Sathyanarayan P. Rathi (2013) 351 ITR 150 (Guj.) :- Section 143 of the Income-tax Act, 1961 - Assessment - Additions to income [Purchases

THE DY. CIT, (OSD)-I, CIRCLE-4,, AHMEDABAD vs. M/S. KINTECH SYNERGY PVT. LTD.,, AHMEDABAD

In the result, the appeals are dismissed

bogus. The view finds supports from the following judgements: - i. CIT v Sathyanarayan P. Rathi (2013) 351 ITR 150 (Guj.) :- Section 143 of the Income-tax Act, 1961 - Assessment - Additions to income [Purchases