BYSANI ADINARAYAGUPATHA SRINATH,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

DCIT, GULBARGA vs. M/S JUPITERBIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

ACIT, GULBARGA vs. M/S. JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

DCIT, GULBARGA vs. M/S JUPITERBIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

DCIT, GULBARGA vs. M/S JUPITER BIOSCIENCE LTD.,, BIDAR

In the result, appeal by the revenue is partly allowed

Bench: Shri N.V. Vasudevanand Shri B. R. Baskaran

purchase of fixed assets to the extent was bogus and therefore the opening written down value (wdv) of the assets on which depreciation was claimed by the Assessee in AY 2004-05 on the same item of machinery had to be reduced and as a consequence ITA Nos. 1232/Bang/2005, 990/Bang/2008, 627, 628, 950, 951/Bang/2009, C.O. Nos.6 to 10-Bang

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI ADINARAYAGUPTHA SRINATH,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI ADINARAYAGUPTHA SRINATH,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI ADINARAYAGUPTHA SRINATH,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX(OSD), CENTRAL CIRCLE 1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX (OSD) CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

BYSANI SRINATH MAMATHA,BENGALURU vs. JOINT COMMISSIONER OF INCOME TAX, (OSD) CENTRAL CIRCLE-1(3), BENGALURU

In the result, all the appeals of the assessee for A

bogus\ntransactions. Sales cannot take place without purchases, and\nreconciliation of stock showed that no part of purchases could be treated\nas unexplained. The allegation that 25% of cash purchases were\ninvested in jewellery or cash loans was also incorrect. No such assets\nwere found in the search, and the value of seized jewellery was much\nlower than the disallowance

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BANGALORE

purchase of\nland in their individual capacity and advances to related entities.\nThere was bogus expenditure debited by the trust for generation of\ncash through bogus billing and invoices including unaccounted and\nunexplained cash transactions across several years.\n05. Based on the case of assessee selected for scrutiny and as per second\nproviso to section 143(3) reference was sent

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BENGALURU

purchase of\nland in their individual capacity and advances to related entities.\nThere was bogus expenditure debited by the trust for generation of\ncash through bogus billing and invoices including unaccounted and\nunexplained cash transactions across several years.\n05. Based on the case of assessee selected for scrutiny and as per second\nproviso to section 143(3) reference was sent

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BENGALURU

purchase of\nland in their individual capacity and advances to related entities.\nThere was bogus expenditure debited by the trust for generation of\ncash through bogus billing and invoices including unaccounted and\nunexplained cash transactions across several years.\n05. Based on the case of assessee selected for scrutiny and as per second\nproviso to section 143(3) reference was sent