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

34,650/- (Rs.) Date of AO’s Order 23.03.2023 27.09.2022 23.12.2022 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

DINESHCHANDRA LADDHA,AHMEDABAD vs. THE ITO WARD 1(2)(1), AHMEDABAD

In the result, the appeal of the asessee is allowed

Bench: SHRI SANJAY GARG (Judicial Member), SMT. ANNAPURNA GUPTA (Accountant Member)

Section 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) and relates to Assessment Year (A.Y.) 2018-19. 2. The grounds of appeal raised by the assessee read as under: “1. In his order dated 21/03/2024, the Ld. AO has erred in law by making an addition of Rs. 76,34,197 u/s 690 rws 115BBE

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

THE ACIT,(OSD)-I,RANGE-4,, AHMEDABAD vs. JMC PROJECTS (INDIA) LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LIMITED,,AHMEDABAD vs. THE DY. CIT, CENTRAL CIRCLE-1(1),, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

THE DY. CIT, CIRCLE-1(1)(2),, AHMEDABAD vs. JMC PROJECTS (INDIA) LIMITED,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

JMC PROJECTS (INDIA) LTD.,,AHMEDABAD vs. THE ACIT.,(OSD)-I,RANGE-4,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

THE ACIT,(OSD)-I,RANGE-4,, AHMEDABAD vs. JMC PROJECTS (INDIA) LTD.,, AHMEDABAD

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

10 1746/Ahd/2016 2011- ITA 18,34,735 Assessee 3.1 12 1746/Ahd/2016 Penalty for Leave 2007- ITA 25,59,312 Assessee 1 Encashment 08 2603/Ahd/2013 2008- ITA 28,51,368 Assessee 1 09 2604/Ahd/2013 Disallowance under 2008- ITA 2,07,727 Assessee 1 Section 14A 09 2036/Ahd/2011 2011- ITA 82,86,127 Revenue 4 12 248/Ahd/2016 ITA No.2815/Ahd/2011 and other

HAJIMOHMADSAFI ABDULREHMAN SHAIKH,VADODARA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

34,00,000/- is prayed to be deleted. 3) The Ld. CIT(A) has erred in law and on facts in upholding the addition made by the Ld. AO towards alleged bogus purchases solely due to non-response to summons issued u/s 131 to certain creditors (i.e. 5 parties of sundry creditors & 2 parties of unsecured loan), without appreciating that

HAJIMOHMADSAFI ABDULREHMAN SHAIKH,VADODARA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

34,00,000/- is prayed to be deleted. 3) The Ld. CIT(A) has erred in law and on facts in upholding the addition made by the Ld. AO towards alleged bogus purchases solely due to non-response to summons issued u/s 131 to certain creditors (i.e. 5 parties of sundry creditors & 2 parties of unsecured loan), without appreciating that

HAJIMOHMADSAFI ABDULREHMAN SHAIKH,VADODARA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), VADODARA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

34,00,000/- is prayed to be deleted. 3) The Ld. CIT(A) has erred in law and on facts in upholding the addition made by the Ld. AO towards alleged bogus purchases solely due to non-response to summons issued u/s 131 to certain creditors (i.e. 5 parties of sundry creditors & 2 parties of unsecured loan), without appreciating that