M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash as they do not have bank accounts. 7.8 Further during the course of survey (Answer to Q. No.12) details of purchases recorded in the computer of the firm containing date wise purchases made by the appellant from Malpe were found. The partner stated that the purchases under the column "MalpePur Actual" represents the actual purchases for which payments have

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash as they do not have bank accounts. 7.8 Further during the course of survey (Answer to Q. No.12) details of purchases recorded in the computer of the firm containing date wise purchases made by the appellant from Malpe were found. The partner stated that the purchases under the column "MalpePur Actual" represents the actual purchases for which payments have

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash as they do not have bank accounts. 7.8 Further during the course of survey (Answer to Q. No.12) details of purchases recorded in the computer of the firm containing date wise purchases made by the appellant from Malpe were found. The partner stated that the purchases under the column "MalpePur Actual" represents the actual purchases for which payments have

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash as they do not have bank accounts. 7.8 Further during the course of survey (Answer to Q. No.12) details of purchases recorded in the computer of the firm containing date wise purchases made by the appellant from Malpe were found. The partner stated that the purchases under the column "MalpePur Actual" represents the actual purchases for which payments have

M/S ANANTHA REFINERY PVT. LTD. vs. DCIT,

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm

deposited in the account of the assessee, said purchases cannot be held to be bogus. ' (ii) In the case of DCIT v. Adinath Industries reported in 252 ITR 476 (Guj), the Hon'ble Gujarat High Court has held that .... Simply because the bank account of seller and purchaser was in the same bank and the amount credited in the purchaser

M/S ANANTHA REFINERY PVT. LTD. vs. DCIT,

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm

deposited in the account of the assessee, said purchases cannot be held to be bogus. ' (ii) In the case of DCIT v. Adinath Industries reported in 252 ITR 476 (Guj), the Hon'ble Gujarat High Court has held that .... Simply because the bank account of seller and purchaser was in the same bank and the amount credited in the purchaser

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE vs. AURA JEWELS, BANGALORE

In the result, the cross objection filed by the assessee is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2017-18

deposits during the demonetization period. It is an admitted fact that assessee is engaged in the business of trading of electrical wires and trading in electrical equipments, products etc. find assessee has placed on record the details of cash sales made [a copy of which is placed in paper book] and it contains the details namely the date of sale

M/S. SPR SPIRITS PRIVATE LIMITED (FORMERLY KNOWN AS SPR GROUP HOLDINGS PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash drawals of the vendors. f. The LAO and CIT(A) did not adduce any evidence to demonstrate that the purchases were bogus apart from the statement of Sri Janardhan. No efforts have been made by the LAO and CIT(A) to demonstrate that the purchases were bogus. g. The fact that Sri Janardhan was maintaining books of accounts

M/S. SPR SPIRITS PRIVATE LIMITED (FORMERLY KNOWN AS SPR GROUP HOLDINGS PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash drawals of the vendors. f. The LAO and CIT(A) did not adduce any evidence to demonstrate that the purchases were bogus apart from the statement of Sri Janardhan. No efforts have been made by the LAO and CIT(A) to demonstrate that the purchases were bogus. g. The fact that Sri Janardhan was maintaining books of accounts

M/S. SPR SPIRITS PRIVATE LIMITED (FORMERLY KNOWN AS SPR GROUP HOLDINGS PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash drawals of the vendors. f. The LAO and CIT(A) did not adduce any evidence to demonstrate that the purchases were bogus apart from the statement of Sri Janardhan. No efforts have been made by the LAO and CIT(A) to demonstrate that the purchases were bogus. g. The fact that Sri Janardhan was maintaining books of accounts

M/S. SPR SPIRITS PRIVATE LIMITED (FORMERLY KNOWN AS SPR GROUP HOLDINGS PRIVATE LIMITED),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

cash drawals of the vendors. f. The LAO and CIT(A) did not adduce any evidence to demonstrate that the purchases were bogus apart from the statement of Sri Janardhan. No efforts have been made by the LAO and CIT(A) to demonstrate that the purchases were bogus. g. The fact that Sri Janardhan was maintaining books of accounts

M/S. HARIS MARINE PRODUCTS,MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, MANGALORE

In the result, both the appeals of the assessee are\nallowed

cash to Shri Tarun Goyal and he, after depositing\nthe same in the bank account of various companies, issued cheques for\nshare application money. On these facts, the decision of Hon'ble\nJurisdictional High Court in the case of Harjeev Aggarwal (supra)\nwould be squarely applicable. Therefore, we hold that the statement of\nShri Tarun Goyal cannot be used against

M/S. HARIS MARINE PRODUCTS,MANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALORE

In the result, both the appeals of the assessee are\nallowed

cash to Shri Tarun Goyal and he, after depositing\nthe same in the bank account of various companies, issued cheques for\nshare application money. On these facts, the decision of Hon'ble\nJurisdictional High Court in the case of Harjeev Aggarwal (supra)\nwould be squarely applicable. Therefore, we hold that the statement of\nShri Tarun Goyal cannot be used against

SRI C ANIL RAHASHEKAR ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE

In the result, the appeals of the assessee are allowed for statistical purposes

Bench: Shri George George K & Shri Laxmi Prasad Sahu

bogus entry as discussed in Para-I of this order. It is also a known fact that iron ore found in the area of business operation of the firm has been found to be traded illegally excavated without proper license from the department of Mines and Geology and clearances from ministry of Environment and Forests. In the light

NITIN KUMAR BOHRA,BANGALORE vs. INCOME-TAX OFFICER, WARD- 1(2)(1), BANGALORE

In the result, the appeal by the assessee is allowed

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2017-18

cash deposits with cogent material. The assessee has issued sale bills, but there is no name and address or contact no., PAN of the prospective buyers. Therefore the sales shown by the assessee are doubtful and the ld. FAA has also doubted the purchases of the assessee. The business of the assessee started in the month of October

UNITED ,DAVANGERE vs. INCOME TAX OFFICER, WARD-1, DAVANGERE

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

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K.Assessment Year : 2018-19

cash deposits are concerned. The Ld.AR further submitted that the AO had erred in treating the purchases made from M/s. Advance Computers & Mobile India Pvt. Ltd. as bogus

ITO, WARD-1, MADIKERI vs. SRI. M.L. KRUPAL, KODAGU

In the result, appeal of the assessee is partly allowed for statistical purposes and appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2005-06 Late M.L. Krupal M/S. Prime Commodities Blv Complex Somwarpet 571 236 Represented By Legal Heir Suvina Krupal Ito Vs. C/O Shreehari Kutsa, Advocate Ward-1 No.2B, 2Nd Floor, ‘Solus’, Madikeri 1St Cross J.C. Road Bangalore 560 027

purchases were not disputed by the AO. Hence, we are also deleting the addition of Rs. 11,88,000/- under head bogus creditors and accordingly, this ground of appeal is also allowed. 14. Ground No. 9 as reproduced at Para No. 3 with regard to additions amounting to Rs. 3,50,06,130/- treated as unexplained source of income

MR. M.L. KRUPAL,KODAGU vs. ITO, WARD-1, MADIKERI

In the result, appeal of the assessee is partly allowed for statistical purposes and appeal of the Revenue is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2005-06 Late M.L. Krupal M/S. Prime Commodities Blv Complex Somwarpet 571 236 Represented By Legal Heir Suvina Krupal Ito Vs. C/O Shreehari Kutsa, Advocate Ward-1 No.2B, 2Nd Floor, ‘Solus’, Madikeri 1St Cross J.C. Road Bangalore 560 027

purchases were not disputed by the AO. Hence, we are also deleting the addition of Rs. 11,88,000/- under head bogus creditors and accordingly, this ground of appeal is also allowed. 14. Ground No. 9 as reproduced at Para No. 3 with regard to additions amounting to Rs. 3,50,06,130/- treated as unexplained source of income