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

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

bogus, and thus vacate the addition of Rs. 1,05,56,012/- made by the A.O u/s 68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 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, and thus vacate the addition of Rs. 1,05,56,012/- made by the A.O u/s 68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 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, and thus vacate the addition of Rs. 1,05,56,012/- made by the A.O u/s 68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 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, and thus vacate the addition of Rs. 1,05,56,012/- made by the A.O u/s 68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu

MESERS SUPERTECH FORGINGS(INDIA) PVT.LTD.,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE IV, JALANDHAR

In the result, the appeal of the Assessee is allowed

bogus purchases being made from the parties. The Ld. AR submitted that that the reopening u/s 148 is bad in law and has raised certain legal aspects which are as under: I. No evidence available with the department at the time of recording of reasons.The only information available with the department was the stand- alone statement of Madan Lal Pahuja

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

17. On this issue he relied upon the following decisions for support: “(1) Umanath Pandey v. State of UP (2009) 12 SCC 40-43 (ii) CCE v. ITC Ltd (1995) 2 SCC 38(SC) (iii) CIT v. Panna Devi Saraogi (1970) 78 ITR 728 (Cal) (iv) Smt. Ritu Devi v. CIT (2004) 141 Taxman 559 (Mad) (v) M. Mohd. Ishaq

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

section 68 solely on basis of information received from Investigation Wing that lenders from whom assessee-company acquired loans were indulged in bogus accommodation entries, since assessee was not granted an opportunity to cross-examine persons whose statements were recorded during Investigation, Impugned addition made on basis of such investigation which was not privy to assessee were to be deleted

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

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S NARULA OIL & FATS PRIVTE LIMITED, AHMEDABAD

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

MEASAGE NARULA SOLVEX PRIVATE LIMITED,MOGA 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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from

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

17 &33 Others payment is made on the basis of it. This is different from the practice adopted by the assessee in the books of account, where the purchase is shown at some predetermined rate. On the other hand the above papers contained the details of payment made in respect of these purchases, in cash. Whereas the purchases begin from