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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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 is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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 is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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 is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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 is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

purchases made by assessee from these parties and treat it as a bogus so as to disallow the same and brought to tax as undisclosed income of the assessee. 5.7 Further, there was a CBDT circular file no.286/98/2013-IT (Inv.II) dated 18.12.2014 which states as under: “Instances/complaints of undue influence/coercion have come to notice of the CBDT that some assessees were

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

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

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

ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE vs. M/S. LIFESTYLE INTERNATIONAL (P) LTD.,, BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

penalty; (iv) expenditure should be expended wholly and exclusively for the purpose of business. 4.5.4 The assessee had entered into consultancy agreement dated 15.12.2004. The relevant clauses of the consultancy agreement are extracted in the assessment order and hence, the same is not reproduced. On perusal of the relevant clauses of the consultancy agreement, it is seen that clauses

M/S.LIFESTYLE INTERNATIONAL PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

penalty; (iv) expenditure should be expended wholly and exclusively for the purpose of business. 4.5.4 The assessee had entered into consultancy agreement dated 15.12.2004. The relevant clauses of the consultancy agreement are extracted in the assessment order and hence, the same is not reproduced. On perusal of the relevant clauses of the consultancy agreement, it is seen that clauses

M/S LIFESTYLE INTERNATIONAL PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the results appeal filed by assessee for assessment year

Bench: Shri Chandra Poojari & Smt Beena Pillai

penalty; (iv) expenditure should be expended wholly and exclusively for the purpose of business. 4.5.4 The assessee had entered into consultancy agreement dated 15.12.2004. The relevant clauses of the consultancy agreement are extracted in the assessment order and hence, the same is not reproduced. On perusal of the relevant clauses of the consultancy agreement, it is seen that clauses