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

Bogus purchase 4,52,01,134 5,52,01,134 (Up to 6.2.2018) Partners 1,00,00,000 personal expenses debited to books Rs.45,02,01,134 Total 5.2 However, for the assessment years 2012-13, 2013-14, 2014- 15, 2015-16 & 2017-18 did not include additional income offered in these assessment years, which was admitted during the course

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

Bogus purchase 4,52,01,134 5,52,01,134 (Up to 6.2.2018) Partners 1,00,00,000 personal expenses debited to books Rs.45,02,01,134 Total 5.2 However, for the assessment years 2012-13, 2013-14, 2014- 15, 2015-16 & 2017-18 did not include additional income offered in these assessment years, which was admitted during the course

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

Bogus purchase 4,52,01,134 5,52,01,134 (Up to 6.2.2018) Partners 1,00,00,000 personal expenses debited to books Rs.45,02,01,134 Total 5.2 However, for the assessment years 2012-13, 2013-14, 2014- 15, 2015-16 & 2017-18 did not include additional income offered in these assessment years, which was admitted during the course

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

Bogus purchase 4,52,01,134 5,52,01,134 (Up to 6.2.2018) Partners 1,00,00,000 personal expenses debited to books Rs.45,02,01,134 Total 5.2 However, for the assessment years 2012-13, 2013-14, 2014- 15, 2015-16 & 2017-18 did not include additional income offered in these assessment years, which was admitted during the course

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

Bogus purchase 4,52,01,134 5,52,01,134 (Up to 6.2.2018) Partners 1,00,00,000 personal expenses debited to books Rs.45,02,01,134 Total 5.2 However, for the assessment years 2012-13, 2013-14, 2014- 15, 2015-16 & 2017-18 did not include additional income offered in these assessment years, which was admitted during the course

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, MANGALORE

bogus purchases accounted by the assessee as\nfound by any of the lower authorities.”\n3.7 In the instant case though assessee had received the supplies\nfrom the persons in respect to whom additional income is offered, it\nhas admitted additional income to co-operate with the department.\nOnly where the parties have confirmed, the additional income is not\noffered

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

natural justice which\nhave been from time to time used, but, whatever standard is\nadopted, one essential is that the person concerned should have\na reasonable opportunity of presenting his case.”\n[Emphasis supplied]\n33. Further, the argument of learned counsel for the Revenue that this\nmistake is curable under Section 292B of the Act lacks merit as the plain

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

natural justice which\nhave been from time to time used, but, whatever standard is\nadopted, one essential is that the person concerned should have\na reasonable opportunity of presenting his case.”\n[Emphasis supplied]\n33.\nFurther, the argument of learned counsel for the Revenue that this\nmistake is curable under Section 292B of the Act lacks merit as the plain

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

natural corollary, not the entire amount covered under such purchases, but, the profit element embedded therein would be subject to tax." While confirming the findings of the Tribunal, the Hon'ble High Court has held that the parties from whom the purchases made were bogus but purchase itself was not bogus. 6.7. Taking into consideration of all the facts

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

natural corollary, not the entire amount covered under such purchases, but, the profit element embedded therein would be subject to tax." While confirming the findings of the Tribunal, the Hon'ble High Court has held that the parties from whom the purchases made were bogus but purchase itself was not bogus. 6.7. Taking into consideration of all the facts

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

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

Bench: Shri A. K. Garodia & Smt. Beena Pillai

natural justice and consequently the orders need to be set aside in the interest of equity and justice. 10) The learned CIT(A) erred in: a) confirming the additions of Rs.11,76,380/- being 449 grams of gold as unexplained investments under the facts of the case. b) confirming the additions of Rs. 66,22,780/- by treating the purchases

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

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

Bench: Shri A. K. Garodia & Smt. Beena Pillai

natural justice and consequently the orders need to be set aside in the interest of equity and justice. 10) The learned CIT(A) erred in: a) confirming the additions of Rs.11,76,380/- being 449 grams of gold as unexplained investments under the facts of the case. b) confirming the additions of Rs. 66,22,780/- by treating the purchases

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

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

Bench: Shri A. K. Garodia & Smt. Beena Pillai

natural justice and consequently the orders need to be set aside in the interest of equity and justice. 10) The learned CIT(A) erred in: a) confirming the additions of Rs.11,76,380/- being 449 grams of gold as unexplained investments under the facts of the case. b) confirming the additions of Rs. 66,22,780/- by treating the purchases

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

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

Bench: Shri A. K. Garodia & Smt. Beena Pillai

natural justice and consequently the orders need to be set aside in the interest of equity and justice. 10) The learned CIT(A) erred in: a) confirming the additions of Rs.11,76,380/- being 449 grams of gold as unexplained investments under the facts of the case. b) confirming the additions of Rs. 66,22,780/- by treating the purchases

M/S B B JEWELLERS AND FINANCE PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(4), BANGALORE

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

Bench: Shri A. K. Garodia & Smt. Beena Pillai

natural justice and consequently the orders need to be set aside in the interest of equity and justice. 10) The learned CIT(A) erred in: a) confirming the additions of Rs.11,76,380/- being 449 grams of gold as unexplained investments under the facts of the case. b) confirming the additions of Rs. 66,22,780/- by treating the purchases

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

purchase of grapes and bottles from three vendors (Vinayaka Fruit Mandi, Srinivasa Bottle Traders and Venkateshwara Bottle Traders) is bogus. This opportunity ought to have been given by the AO as a general principle of natural justice

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

purchase of grapes and bottles from three vendors (Vinayaka Fruit Mandi, Srinivasa Bottle Traders and Venkateshwara Bottle Traders) is bogus. This opportunity ought to have been given by the AO as a general principle of natural justice

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

purchase of grapes and bottles from three vendors (Vinayaka Fruit Mandi, Srinivasa Bottle Traders and Venkateshwara Bottle Traders) is bogus. This opportunity ought to have been given by the AO as a general principle of natural justice