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 booking of purchases found for FY 2017-18 during survey and applying the test of human probabilities reveal that the appellant has inflated its purchases. More importantly this was admitted by the appellant in the statement and has accepted and declared in the return of income for A.Y. 2016-17. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal

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 booking of purchases found for FY 2017-18 during survey and applying the test of human probabilities reveal that the appellant has inflated its purchases. More importantly this was admitted by the appellant in the statement and has accepted and declared in the return of income for A.Y. 2016-17. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal

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 booking of purchases found for FY 2017-18 during survey and applying the test of human probabilities reveal that the appellant has inflated its purchases. More importantly this was admitted by the appellant in the statement and has accepted and declared in the return of income for A.Y. 2016-17. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal

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 booking of purchases found for FY 2017-18 during survey and applying the test of human probabilities reveal that the appellant has inflated its purchases. More importantly this was admitted by the appellant in the statement and has accepted and declared in the return of income for A.Y. 2016-17. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal

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

In the result, the appeals of the assessee for Assessment Years

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus purchases, there must be a rational basis, and it cannot be arbitrary. 5.7 Finally, the AR submitted that at the highest, if there were doubts about the genuineness of certain purchases, only the embedded profit could be brought to tax, not the entire amount. This principle has been upheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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

In the result, the appeals of the assessee for Assessment Years

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus purchases, there must be a rational basis, and it cannot be arbitrary. 5.7 Finally, the AR submitted that at the highest, if there were doubts about the genuineness of certain purchases, only the embedded profit could be brought to tax, not the entire amount. This principle has been upheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics

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 purchases, there must be\na rational basis, and it cannot be arbitrary.\n5.7 Finally, the AR submitted that at the highest, if there were doubts\nabout the genuineness of certain purchases, only the embedded profit\ncould be brought to tax, not the entire amount. This principle has been\nupheld by the Bombay High Court in Jakharia Fabrics 118 taxmann.com

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

Bogus\n2019-20\n11,51,54,100\nExpenditure\n6. Relevant Provisions of the Act\n6.1 Sub-sections 4 and 5 of section 12AB of the Act is reproduced below\n[(4) Where registration or provisional registration of a trust or an institution has been q\nunder clause (a) or clause (b) or clause (c) of sub-section (1) or clause

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

section\n12AB(4) of Income Tax Act.\n3.0\nIn the case an action u/s 132(search) was concluded on 23/06/2022\nITA Nos.2106 to 2109/Bang/2024\nPage 23 of 81\nand during the search the evidence unearthed have revealed the\noccurrence of following specified violations;\n3.1\n(i) Diversion of trust funds to trustees for purchase of lands in their\nindividual capacity

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

section\n12AB(4) of Income Tax Act.\n3.0 In the case an action u/s 132(search) was concluded on 23/06/2022\nPage 22 of 81\nITA Nos.2106 to 2109/Bang/2024\nand during the search the evidence unearthed have revealed the\noccurrence of following specified violations;\n(i) Diversion of trust funds to trustees for purchase of lands in their\nindividual capacity /advances

M/S. PAUL RESORTS & HOTELS PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX. CENTRAL CIRCLE-1(1), BANGALORE

115\n33,97,88,690\nNA\nDetails of undisclosed income declared\nbogus expenses\n1,07,76,926\n2,23,19,384\n2,07,19,771\n2,59,74,970\n1,10,65,726\n1,12,08,242\nNA\nand promotion\nexpenses