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

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

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

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

bogus expenses in the form of purchases to the tune of Rs. 4,15,20,133/- and unexplained receipts to the tune of Rs. 86,25,29,622/- has escaped taxation for the A. Y. 2011-12. Accordingly this is a case fit for issuance of notice u/s 148 of the Income

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

bogus expenses in the form of purchases to the tune of Rs. 4,15,20,133/- and unexplained receipts to the tune of Rs. 86,25,29,622/- has escaped taxation for the A. Y. 2011-12. Accordingly this is a case fit for issuance of notice u/s 148 of the Income

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

15, it was mentioned in the order that:- “The supplies received by assessee from, four of the parties, which have been held to be bogus 'during the year under appeal, continued even in the succeeding year. The positioli as to purchase made in the year ending 31.03.2011 i.e in A..Y 201'1-12 from the said suppliers is detailed

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

purchase and bogus sales will reduce the sales,( in the trading results ) without much difference in the instant case and monetary transactions of inflow and outflow of funds will also result to the same effect. 15. Before concluding the Ld. AR argued on the additional ground drawing reference to the SCN dated 27th March, 2022, he submitted that

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

SHRI SHAM SUNDER AGGARWAL,KAPURTHALA vs. PRINCIPAL COMMISSIONER OF INCOME TAX -2 , KAPUTHALA

In the result, the appeal of the assessee, ITA

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

15 New Sabji Mandi, Kapurthala, no purchases have been made from the above referred firms/parties/cancelled dealers and no transaction of purchases appeared in the ledger of assessee’s account as reported by the Sales Tax Department. The purchase/sales have been examined and verified, out of which some vouchers of purchases/sales have been taken and placed on record. Hence, no adverse

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D

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

purchases are shown on credit of much longer period from bogus and paper concerns. M/s Narula Solvex P Ltd. is a sister concern of the assessee company, operates in same line of business, managed by common management and accordingly it is natural that similar practice is adopted by the assessee also.” 6.1 Related argumentby challenging the maintainability of section 153D