ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED, TARN TARAN

In the result, both the appeals of the revenue are dismissed and

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

business of Rice Sheller. The return of income in this case u/s 139 of the Act was filed on 28.09.2011 declaring of Rs.77,66,950/-. Thereafter income of the assessee is assessed u/s 143(3) of the I. T. Act, 1961 at Rs.81,66,950/-. Later on, search u/s 132 of the Income Tax Act was conducted in this case

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED , TARN TARAN

In the result, both the appeals of the revenue are dismissed and

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

business of Rice Sheller. The return of income in this case u/s 139 of the Act was filed on 28.09.2011 declaring of Rs.77,66,950/-. Thereafter income of the assessee is assessed u/s 143(3) of the I. T. Act, 1961 at Rs.81,66,950/-. Later on, search u/s 132 of the Income Tax Act was conducted in this case

INCOME TAX OFFICER, JAMMU vs. SH. PUNEET SEHDEV, PROP., JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

bogus purchases. The AO did not appreciate that these were genuine purchases and all the purchases were duly accounted for in the books of accounts and their sales were duly accepted in toto. As such, the A.O has blown hot & cold in the same breath/. Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu

SH. PUNEET SEHDEV PROP,JAMMU vs. THE INCOME-TAX OFFICER, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

bogus purchases. The AO did not appreciate that these were genuine purchases and all the purchases were duly accounted for in the books of accounts and their sales were duly accepted in toto. As such, the A.O has blown hot & cold in the same breath/. Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu

PUNEET SAHDEV,JAMMU vs. THE INCOME TAX OFFICER, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

bogus purchases. The AO did not appreciate that these were genuine purchases and all the purchases were duly accounted for in the books of accounts and their sales were duly accepted in toto. As such, the A.O has blown hot & cold in the same breath/. Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu

SH. PUNEET SEHDEV PROP;,JAMMU vs. THE INCOME-TAX OFFICER,, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

bogus purchases. The AO did not appreciate that these were genuine purchases and all the purchases were duly accounted for in the books of accounts and their sales were duly accepted in toto. As such, the A.O has blown hot & cold in the same breath/. Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu

INCOME TAX OFFICER, WARD-1, FARIDKOT, BSNL BUILDING vs. M/S VOHRA SOLVEX PVT. LTD, SADIQ ROAD

In the result, C.O. filed by the assessee is allowed

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

income of the assessee. 2. The Ld. CIT(A) has erred in limiting the addition only to the extent of 25% of bogus purchases by arriving at the conclusion that since the corresponding sales have been accepted and so entire alleged purchases cannot be disallowed. It has been clearly established while framing the Assessment Order by the AO that

NEERAJ KUMAR SETHI,DELHI vs. ITO, NATIONAL FACELESS APPEAL CENTRE (NFAC)

In the result, the appeal filed by the assessee is allowed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

bogus purchase and sale transactions ignoring the Fund Flow Statement as well as various case laws that in a situation like this only the extra margin of profit earned, if any, could be added. 5. That the Id. CIT(A) has erred in law and on facts in confirming the addition of Rs.1,98,47,645 made

M/S. SATIA INDUSTRIES LIMITED,MUKTSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Bogus because the DRP has issued the directions for enhancement of income without making any independent inquiry. I.T.A. No.193/Asr/2022 6 Assessment Year: 2018-19 5.1. That the Ld. AO NFAC has erred on facts & law invoking the provisions ofsection 115BBE of the Act and charging the special rate of tax, which is highly unjustified. 6. That the appellant craves leave

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. SHRI BHUPINDER SINGH. M/S NOVELTY SWEETS, AMRITSAR

In the result, the appeal filed by the revenue is dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus losses to be set off with the amount of surrendered income when it is a clear cut fact that accounts of the assessee were not maintained properly? 4. Whether in the facts and circumstances of the case, the Ld. CIT(A) has erred in law by not appreciating that the assessee had incurred losses in the relevant year only

NASA AGRO INDUSTRIES PRIVATE LIMITED,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

In the result, the appeal filed by the assessee is allowed for statistical purpose

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

business of running a Solvent Extraction Plant, Cotton factory and Oil Mills at Fazilka. Original assessment for the year under appeal has been completed u/s 143(3) dated 26/09/2013 on an assessed income of Rs. 65.09 lakhs. 4. Subsequently, information has been passed on by the DDIT ( Inv ), in pursuance of a search

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

MEASAGE SAT KARTAR SOLVEX PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

MEASAGE SAT KARTAR SOLVEX PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made

M/S NARULA FOODS PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

bogus purchases. Further the Ld. Authorities accepted the sales made corresponding to that purchases, opening and closing stock has been accepted and creditors and debtors has been accepted, which has duly been recorded in the books of assess company and reflected in the P&L Account and Balance sheet of assessee company, so, it is requested that addition made