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

The appeal of the Revenue are allowed

section 131 and statement was recorded. The Assessment Officer came to the inference that purchases amounting to Rs. 1,68,48,663/- are bogus and he added this amount in the computation of the assessee company's income. • - 2.1 Being aggrieved by the same, the assessee preferred appeal before CIT(Appeals) but the said appeal came to be dismissed

N K PROTEINS PVT. LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE- 3(1)(1), AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

bogus and accommodative loss. Once loss incurred by appellant is speculative in nature, such loss cannot be set off against any taxable income whereas speculative income can be set off against any business loss. Considering this fact, alternate contention of appellant that there is no loss of revenue cannot be accepted.” ITA Nos. 464 & 546/Ahd/2022 Assessee- NK Proteins Ltd Asst

THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), AHMEDABAD vs. N K PROTEINS PRIVATE LIMITED, AHMEDABAD

In the result, no question of law arises

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

bogus and accommodative loss. Once loss incurred by appellant is speculative in nature, such loss cannot be set off against any taxable income whereas speculative income can be set off against any business loss. Considering this fact, alternate contention of appellant that there is no loss of revenue cannot be accepted.” ITA Nos. 464 & 546/Ahd/2022 Assessee- NK Proteins Ltd Asst

XCELRIS LABS LIMITED,AHMEDABAD vs. THE DCIT, CENTRAL CIRCLE-2(1), AHMEDABAD

In the result, appeal filed by the assessee is dismissed

Section 32 of the\nIncome Tax Act, and that when the assets were purchased, J. S.\nEnterprise had\na valid registration with the VAT Department.\nTherefore, the Counsel for the assessee submitted that no excess or\nnon-genuine depreciation had been claimed for any of the assessment\nyears under consideration. The Counsel for the assessee submitted\nthat

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. DEVRAJ INFRASTRUCTURE LTD.,, AHMEDABAD

In the result, all three appeals of revenue are dismissed

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyanisl.

purchases of Rs. 91,18,800/- and bogus expenditure of Rs. 26,67,267/-. While computing taxable income under the head “Income from Business or Profession” the Ld. AO made disallowance of these items and consequently the taxable profit of business was enhanced to that extent. However the Ld. AO did not allow deduction

JCIT(OSD), CIRCLE-1(1)(2),, AHMEDABAD vs. M/S. DEVRAJ INFRASTRUCTURE LTD.,, AHMEDABAD

In the result, all three appeals of revenue are dismissed

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyanisl.

purchases of Rs. 91,18,800/- and bogus expenditure of Rs. 26,67,267/-. While computing taxable income under the head “Income from Business or Profession” the Ld. AO made disallowance of these items and consequently the taxable profit of business was enhanced to that extent. However the Ld. AO did not allow deduction

THE JT. CIT, RANGE-9,, AHMEDABAD vs. M/S. UNIQUE METROPOILS,, AHMEDABAD

In the result, Ground Nos

bogus purchases calculated at 12.5% of the purchases which is excessive when no such disallowance is called. The ld. Authorized Representative of the assessee reiterated that assessee had provided all details and evidences and vide reply dated 24-02- 2014, copy of PAN card of parties, confirmation of ledger account duly signed by parties, copies of invoices and delivery challan

M/S. UNIQUE METROPOLIS,,AHMEDABAD vs. JT.COMMISSIONER OF INCOME TAX,RANGE-9,, AHMEDABAD

In the result, Ground Nos

bogus purchases calculated at 12.5% of the purchases which is excessive when no such disallowance is called. The ld. Authorized Representative of the assessee reiterated that assessee had provided all details and evidences and vide reply dated 24-02- 2014, copy of PAN card of parties, confirmation of ledger account duly signed by parties, copies of invoices and delivery challan

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

purchases may be disallowed, keeping into consideration the profit offered to tax by the assessee. During the year under consideration, the assessee had calculated NP at 16.09% of the Turnover. Accordingly, considering the observations made by the Ld. Assessing Officer in assessment order regarding the nature of sub-contracting expenses and looking into the totality of facts of the instant

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

purchases may be disallowed, keeping into consideration the profit offered to tax by the assessee. During the year under consideration, the assessee had calculated NP at 16.09% of the Turnover. Accordingly, considering the observations made by the Ld. Assessing Officer in assessment order regarding the nature of sub-contracting expenses and looking into the totality of facts of the instant

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

purchases may be disallowed, keeping into consideration the profit offered to tax by the assessee. During the year under consideration, the assessee had calculated NP at 16.09% of the Turnover. Accordingly, considering the observations made by the Ld. Assessing Officer in assessment order regarding the nature of sub-contracting expenses and looking into the totality of facts of the instant

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

purchases may be disallowed, keeping into consideration the profit offered to tax by the assessee. During the year under consideration, the assessee had calculated NP at 16.09% of the Turnover. Accordingly, considering the observations made by the Ld. Assessing Officer in assessment order regarding the nature of sub-contracting expenses and looking into the totality of facts of the instant

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

purchases may be disallowed, keeping into consideration the profit offered to tax by the assessee. During the year under consideration, the assessee had calculated NP at 16.09% of the Turnover. Accordingly, considering the observations made by the Ld. Assessing Officer in assessment order regarding the nature of sub-contracting expenses and looking into the totality of facts of the instant

SANKET RAMNIKLAL JOISAR,AHMEDABAD vs. INCOME TAX WARD 1(2)(1), AHD, AHMEDABAD

In the result, appeal filed by the assessee is allowed in above\nterms

32,430/- and Rs.1,22,48,970/-;\nrespectively totaling in all to Rs.4,65,81,400/-. He pointed out\nthese facts from Page 7 of the assessment order. Ld. Counsel for\nthe assessee pointed out that during assessment proceedings, the\nassessee furnished complete details of purchases made by him\nduring the year in his business of wholesale of waste, scrap

M/S. MORAKHIA COPPER & ALLOYS PVT. LTD.,,AHMEDABAD vs. ACIT, CIRCLE-2(1)(2), AHMEDABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 161/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2011-12 M/S. Morakhia Copper & Alloys Pvt. A.C.I.T., Ltd., Vs. Tax, Circle-2(1)(2), 12, 2Nd Floor, B Wing, Ahmedabad. Mardia Plaza, C.G. Road, Ahmedabad-380006. Pan: Aaacm3439J

section 143(3) of the Act vide order dated 27th March 2014, inter-alia, made addition of ₹ 3,06,32,999/- on account of bogus purchases

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

bogus purchases had been set aside in entirety by the Hon’ble ITAT for fresh adjudication and therefore the earlier relief granted by the CIT(A) stood merged with the order of the Tribunal. It was observed that the Assessing Officer had rightly re-examined the entire issue in accordance with the directions of the ITAT and hence the contention

HAJIMOHMADSAFI ABDULREHMAN SHAIKH,VADODARA vs. DEPUTY COMISSIONER 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

bogus purchases had been set aside in entirety by the Hon’ble ITAT for fresh adjudication and therefore the earlier relief granted by the CIT(A) stood merged with the order of the Tribunal. It was observed that the Assessing Officer had rightly re-examined the entire issue in accordance with the directions of the ITAT and hence the contention

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

bogus purchases had been set aside in entirety by the Hon’ble ITAT for fresh adjudication and therefore the earlier relief granted by the CIT(A) stood merged with the order of the Tribunal. It was observed that the Assessing Officer had rightly re-examined the entire issue in accordance with the directions of the ITAT and hence the contention