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 without any application of Section 115BBE Rudra Global Infra Products Ltd. vs. ACIT Asst.Year –2018-19 - 2– of the Act as evident from the computation sheet issued along with the assessment order. 4

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

bogus purchases, since it was not disputed that purchases were actually made and payments for same were made through account payee cheque and further, assessee had already declared 7.5 per cent as gross profit, Tribunal was justified in restricting addition to 8 per cent of gross profit on impugned purchase transactions.\n6.7 On similar facts, Hon'ble ITAT, Mumbai

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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) of the Act on the grounds that the expenses listed could not be verified as genuine and concluded that the books were unreliable, and it would be inappropriate to compute income based on these accounts. Given the rejection

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

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 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\npurchases, since it was not disputed that purchases were actually made and\npayments for same were made through account payee cheque and further, assessee\nhad already declared 7.5 per cent as gross profit, Tribunal was justified in\nrestricting addition to 8 per cent of gross profit on impugned purchase transactions.\n6.7 On similar facts, Hon'ble ITAT, Mumbai