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

1 2011-12 5,50,00,000 Bogus Purchase 2 2012-13 5„50,00,000 Bogus Purchase 3 2013-14 5,50,00,000 Bogus Purchase 4 2014-15 5,50,00,000 Bogus Purchase 5 2015-16 5,50,00,000 Bogus Purchase 6 2016-17 5,50,00,000 Bogus Purchase Total

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

1 2011-12 5,50,00,000 Bogus Purchase 2 2012-13 5„50,00,000 Bogus Purchase 3 2013-14 5,50,00,000 Bogus Purchase 4 2014-15 5,50,00,000 Bogus Purchase 5 2015-16 5,50,00,000 Bogus Purchase 6 2016-17 5,50,00,000 Bogus Purchase Total

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

1 2011-12 5,50,00,000 Bogus Purchase 2 2012-13 5„50,00,000 Bogus Purchase 3 2013-14 5,50,00,000 Bogus Purchase 4 2014-15 5,50,00,000 Bogus Purchase 5 2015-16 5,50,00,000 Bogus Purchase 6 2016-17 5,50,00,000 Bogus Purchase Total

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

1 2011-12 5,50,00,000 Bogus Purchase 2 2012-13 5„50,00,000 Bogus Purchase 3 2013-14 5,50,00,000 Bogus Purchase 4 2014-15 5,50,00,000 Bogus Purchase 5 2015-16 5,50,00,000 Bogus Purchase 6 2016-17 5,50,00,000 Bogus Purchase Total

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

In the result, appeals of the assessee in ITA Nos

1)\nSri K. Mohammed Haris, Director of M/s Mukka Sea\nFood Industries Pvt. Ltd., a working Director of the\ncompany, in the statement recorded u/s 132(4) of the\nAct, in reply to Q.No.24 agreed that these are bogus\nentries in books.\n(2)\nSo, when ‘NO PURCHASE” was made, obviously there\nwas “NO SALE”. So, there

M/S. CONCORDE HOUSING CORPORATION PRIVATE LIMITED,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Prakash Chand Yadav

section 271 (l)(c) is not applicable. Accordingly, the penalty was to be deleted.” 5.6 This was also supported by the order of the Jaipur Bench in the case of Smt. Indira Agarwal in ITA No.1444/JP/2018 dated 22.3.2019 wherein held as under: 6. We have considered the rival submissions as well as relevant material on record. The question arises whether

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BANGALORE

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

section 142(1) of the Act dated 04.03.2013 was issued to the assessee. The assessee was asked to furnish substantiating evidence of the persons from whom the undersigned purchase is claimed to have been made by producing the following documents. 1. Full and true disclosure of the parties along with their PANs from whom the unregistered iron ore is claimed

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

section 142(1) of the Act dated 04.03.2013 was issued to the assessee. The assessee was asked to furnish substantiating evidence of the persons from whom the undersigned purchase is claimed to have been made by producing the following documents. 1. Full and true disclosure of the parties along with their PANs from whom the unregistered iron ore is claimed

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

section 142(1) of the Act dated 04.03.2013 was issued to the assessee. The assessee was asked to furnish substantiating evidence of the persons from whom the undersigned purchase is claimed to have been made by producing the following documents. 1. Full and true disclosure of the parties along with their PANs from whom the unregistered iron ore is claimed

SRI SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(3), BENGALURU

Section\n153D. It is not an exercise dealing with a immaterial matter which\ncould be corrected by taking recourse to Section 292B of the Act.\n16. We are not inclined to interdict the order of the Tribunal.\n17. Accordingly, the appeal is closed.\n6.5 The above view taken by the Hon’ble Delhi High Court in the case of PCIT

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

1)\nSri K. Mohammed Haris, Director of M/s Mukka Sea\nFood Industries Pvt. Ltd. , a working Director of the\ncompany, in the statement recorded u/s 132(4) of the\nAct, in reply to Q.No.24 agreed that these are bogus\nentries in books.\n(2)\nSo, when ‘NO PURCHASE” was made, obviously there\nwas “NO SALE”. So, there

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

section\n142(1) of the Act dated 04.03.2013 was issued to the assessee. The assessee was\nasked to furnish substantiating evidence of the persons from whom the\nundersigned purchase is claimed to have been made by producing the following\ndocuments.\n1.\nFull and true disclosure of the parties along with their PANs from\nwhom the unregistered iron ore is claimed

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

section 37(1) of Income Tax Act. 9.3 Further, Shri Janardhan V, in his statement also admitted that (vide answer to question no.5) the payments made to the extents of Rs. 27,49,31,189/-for the various years listed against parties in whose name the same have been booked was bogus as there was no purchase

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

section 37(1) of Income Tax Act. 9.3 Further, Shri Janardhan V, in his statement also admitted that (vide answer to question no.5) the payments made to the extents of Rs. 27,49,31,189/-for the various years listed against parties in whose name the same have been booked was bogus as there was no purchase

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

section 37(1) of Income Tax Act. 9.3 Further, Shri Janardhan V, in his statement also admitted that (vide answer to question no.5) the payments made to the extents of Rs. 27,49,31,189/-for the various years listed against parties in whose name the same have been booked was bogus as there was no purchase

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

section 37(1) of Income Tax Act. 9.3 Further, Shri Janardhan V, in his statement also admitted that (vide answer to question no.5) the payments made to the extents of Rs. 27,49,31,189/-for the various years listed against parties in whose name the same have been booked was bogus as there was no purchase

AKSHAY KUMAR RUNGTA,BANGALORE vs. INCOME TAX OFFICER, WARD 2(1), INTERNATIONAL TAXATION

In the result, appeal filed by the assessee is allowed as per above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyit(It)A No.66/Bang/2024 Assessment Year :2015-16

purchase of shares of Mahaveer Advanced Rem for Rs.10,60,000/- on the facts and circumstances of the case. b. The authorities below have failed to appreciate that the provisions of section 69A of the Act is not mandatory but discretionary in nature on the facts and circumstances of the case. b. The authorities below have failed to appreciate that