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

bogus suppliers. The Assessing Officer (AO) issued notice under section 148 and framed the ITA No.254 to 256 and 274 to 276 /Ahd/2024 3 reassessment under section 143(3) r.w.s. 147. On finding that the assessee had not satisfactorily discharged the onus of establishing the genuineness of purchases and the identity of the suppliers, the AO invoked the provisions

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

bogus suppliers. The Assessing Officer (AO) issued notice under section 148 and framed the ITA No.254 to 256 and 274 to 276 /Ahd/2024 3 reassessment under section 143(3) r.w.s. 147. On finding that the assessee had not satisfactorily discharged the onus of establishing the genuineness of purchases and the identity of the suppliers, the AO invoked the provisions

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

bogus suppliers. The Assessing Officer (AO) issued notice under section 148 and framed the ITA No.254 to 256 and 274 to 276 /Ahd/2024 3 reassessment under section 143(3) r.w.s. 147. On finding that the assessee had not satisfactorily discharged the onus of establishing the genuineness of purchases and the identity of the suppliers, the AO invoked the provisions

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\nby the assessee, stand dismissed

bogus suppliers. The Assessing Officer\n(AO) issued notice under section 148 and framed the\nreassessment under section 143(3) r.w.s.147. On finding that\nthe assessee had not satisfactorily discharged the onus of\nestablishing the genuineness of purchases and the identity of the\nsuppliers, the AO invoked the provisions of section 145

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\nby the assessee, stand dismissed

bogus suppliers. The Assessing Officer\n(AO) issued notice under section 148 and framed the\nreassessment under section 143(3) r.w.s. 147. On finding that\nthe assessee had not satisfactorily discharged the onus of\nestablishing the genuineness of purchases and the identity of the\nsuppliers, the AO invoked the provisions of section 145

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

bogus purchases, only profit element embedded therein would be subjected to tax. In this case, the Gujarat High Court restricted the disallowance to 25% of the cost of such purchases in this year. 14. In the case of Principal Commissioner of Income-tax vs. S.V. Jiwani [2022] 145 taxmann.com 230 (Bombay) / [2023] 290 Taxman 178 (Bombay

KSHETRAPAL GOLD PVT.LTD.,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-2(1)(2),, AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2017-18 Kshetrapal Gold Private Limited, Vs. Income Tax Officer, Sf-1, Kush Avenue, Mandvi Ni Ward 2(1)(2), Pole, Manek Chowk, Ahmedabad, Ahmedabad Gujarat-380001 Pan : Aafck 6724 M अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" Assessee By : Shri Mahesh Chhajed, Ar Revenue By : Shri Prateek Sharma, Sr Dr सुनवाई क" तारीख/Date Of Hearing : 10.10.2024 घोषणा क" तारीख /Date Of Pronouncement: 22.10.2024 आदेश/O R D E R आदेश आदेश आदेश Per Annapurna Gupta: Present Appeal Has Been Filed By The Assessee Against Order Of The Learned Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As "Cit(A)" For Short] Dated 20.11.2023 Passed Under Section 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2017-18. 2. The Grounds Raised By The Assessee Are As Under:- “1. The Order Passed By The Ld. Cit (A) Is Against Law, Equity & Justice. 2. The Ld. Cit(A) Has Erred In Law & On Facts In Upholding Rejection Of Books Of Accounts In Contravention To The Provisions Of Act. 3. The Ld. Cit (A) Has Erred In Law & On Facts In Upholding Addition Made By The Ld. A.O. U/S 68 Of The Act Even After Rejection Books Of Accounts.

bogus purchases were recorded and opening and closing stock was not verifiable. As pointed out by the ld. Counsel for the assessee, in terms of provisions of Section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3

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

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

bogus purchases), the assessee’s books did not meet the statutory standards for completeness and accuracy. The AO invoked section 145(3