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

section 44AB of the Act placed at PB page No.33. He also drew our attention to the specific bill of Mayank Impex purchasing 32.40 Carat of cut and polished diamonds amounting to Rs.6,80,400/- which was found to be bogus. In this regard he drew attention to evidence for using these diamonds for making ornaments, which were also filed

INCOME TAX OFFICER, WARD-1(8), BHAVNAGAR, 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

Section of AO’s Order 147 r.w.s. 143(3) r.w.s. 143(3) r.w.s. 144B 144B 144B Amount of Alleged Bogus 92,95,26,352/- 49,84,90,503/- 412,48,43,029/- Purchases added (Rs.) Gross Profit Rate Applied by AO 12.50% 12.50% 12.50% Addition Made

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

Section of AO’s Order 147 r.w.s. 143(3) r.w.s. 143(3) r.w.s. 144B 144B 144B Amount of Alleged Bogus 92,95,26,352/- 49,84,90,503/- 412,48,43,029/- Purchases added (Rs.) Gross Profit Rate Applied by AO 12.50% 12.50% 12.50% Addition Made

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

Section of AO’s Order 147 r.w.s. 143(3) r.w.s. 143(3) r.w.s. 144B 144B 144B Amount of Alleged Bogus 92,95,26,352/- 49,84,90,503/- 412,48,43,029/- Purchases added (Rs.) Gross Profit Rate Applied by AO 12.50% 12.50% 12.50% Addition Made

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

The appeal of the Revenue are allowed

Section 69 of the Income-tax Act, 1961 - Unexplained investments (Bogus purchases) -Assessment year 2007-08 - Assessee was in business of manufacturing and exports of de-oiled cake, starch, glucose and cotton yarn - Assessing Officer examined various purchases made by assessee and noted that entire purchases made from one 'V were bogus and added entire amount to total income

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

The appeal of the Revenue are allowed

Section 69 of the Income-tax Act, 1961 - Unexplained investments (Bogus purchases) -Assessment year 2007-08 - Assessee was in business of manufacturing and exports of de-oiled cake, starch, glucose and cotton yarn - Assessing Officer examined various purchases made by assessee and noted that entire purchases made from one 'V were bogus and added entire amount to total income

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

The appeal of the Revenue are allowed

Section 69 of the Income-tax Act, 1961 - Unexplained investments (Bogus purchases) -Assessment year 2007-08 - Assessee was in business of manufacturing and exports of de-oiled cake, starch, glucose and cotton yarn - Assessing Officer examined various purchases made by assessee and noted that entire purchases made from one 'V were bogus and added entire amount to total 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)

section 69 of the I.T.Act, 1961." ITA Nos. 1379 & 1380/Ahd/2016 20 . A.Ys. 2010-11-2011-12 4. Against the addition of 12.5% of the total purchase, assessee preferred first statutory appeal before the ld. CIT(A) who held that the undisclosed income of the appellant should be assessed @ 10% of purchase shown to have been made by him from

SHRI HARSHAD JASWANTLAL SONI,AHMEDABAD vs. THE ADDL.CIT.,A'BAD RANGE-2,, AHMEDABAD

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

10-01-2011 held that in such cases disallowance under section 40 A (3) cannot be made. Since assessing officer considered the purchases bogus

M/S. GSP CROP SCIENCE PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, both the appeals of the assessee are partly allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

10,71,006/-) the claim of Assessee u/s 35(2AB) disregarding the submissions made by the Assessee. 4. Grievance raised by the assessee in the above ground is with respect to disallowance of claim of deduction under section 35(2AB) of the Act amounting to Rs.54,53,724/-. The facts relating to the issue are that the assessee had claimed

M/S. GSP CROP SCIENCE PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD

In the result, both the appeals of the assessee are partly allowed

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

10,71,006/-) the claim of Assessee u/s 35(2AB) disregarding the submissions made by the Assessee. 4. Grievance raised by the assessee in the above ground is with respect to disallowance of claim of deduction under section 35(2AB) of the Act amounting to Rs.54,53,724/-. The facts relating to the issue are that the assessee had claimed

SAKET M JAINI(HUF),AHMEDABAD vs. THE PR. CIT, AHMEDABAD-5, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 579/Ahd/2019 "नधा"रण वष"/Asstt. Year: 2009-2010 Saket M. Jain (Huf), The Pr. Commissioner Of 403, 3Rd Eye Two, Vs. Income Tax-2, Nr. Joyalukkas Show Room, Ahmedabad. Opp. Parimal Garden, Ellisbridge, Ahmedabad.

bogus and on other hand estimating the profit instead of treating the sales made by the assessee as unexplained cash credit under section 68 of the Act. 7.1 In view of the above the Learned Pr. CIT held the assessment order framed under section 143(3) read with section 147 of the Act vide order dated 26/12/2016 Asstt. Year

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

10% of bogus purchases. In the case of Jagdish H Patel [2017] 84 taxmann.com 259 (Gujarat), the Gujarat High Court held that where AO having found that during year assessee had made bogus purchases of certain amount added said amount to his income and Tribunal having found that assessee's GP for year under consideration was 7 per cent, adopted

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

10% of bogus purchases. In the case of Jagdish H Patel [2017] 84 taxmann.com 259 (Gujarat), the Gujarat High Court held that where AO having found that during year assessee had made bogus purchases of certain amount added said amount to his income and Tribunal having found that assessee's GP for year under consideration was 7 per cent, adopted

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

10% of bogus purchases. In the case of Jagdish H Patel [2017] 84 taxmann.com 259 (Gujarat), the Gujarat High Court held that where AO having found that during year assessee had made bogus purchases of certain amount added said amount to his income and Tribunal having found that assessee's GP for year under consideration was 7 per cent, adopted

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

10% of bogus purchases. In the case of Jagdish H Patel [2017] 84 taxmann.com 259 (Gujarat), the Gujarat High Court held that where AO having found that during year assessee had made bogus purchases of certain amount added said amount to his income and Tribunal having found that assessee's GP for year under consideration was 7 per cent, adopted

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

10% of bogus purchases. In the case of Jagdish H Patel [2017] 84 taxmann.com 259 (Gujarat), the Gujarat High Court held that where AO having found that during year assessee had made bogus purchases of certain amount added said amount to his income and Tribunal having found that assessee's GP for year under consideration was 7 per cent, adopted

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

bogus purchases in accordance with law and thus revision under section. 263 is nothing but a change of opinion and hence order u/s. 263 is bad in law. 2. The directions given to AO in para 7, 7.1 and 8 of order under section 263 by the ld. Pr.CIT are already carried

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

section 147 r.w.s. 143(3) of the Income Tax Act, 1961; in short “the Act”. 2. The assessee has raised following grounds of appeal:- “1.1 That on the facts and in the circumstances of the case and as per law, learned CIT (Appeals) erred in sustaining additions of Rs. 5,09,032 out of I.T.A No. 3042/Ahd/2014