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

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. 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. 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 the Act. In our opinion, if the sales are not questioned, it cannot be possible to sell the goods without purchase or incurring expenditure. There is no whisper in the assessment order that gross profit and net profit rate in these assessment years has gone down as compared to earlier years by booking bogus 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 the Act. In our opinion, if the sales are not questioned, it cannot be possible to sell the goods without purchase or incurring expenditure. There is no whisper in the assessment order that gross profit and net profit rate in these assessment years has gone down as compared to earlier years by booking bogus 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 the Act. In our opinion, if the sales are not questioned, it cannot be possible to sell the goods without purchase or incurring expenditure. There is no whisper in the assessment order that gross profit and net profit rate in these assessment years has gone down as compared to earlier years by booking bogus 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 the Act. In our opinion, if the sales are not questioned, it cannot be possible to sell the goods without purchase or incurring expenditure. There is no whisper in the assessment order that gross profit and net profit rate in these assessment years has gone down as compared to earlier years by booking bogus purchase

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

bogus purchase at Rs.1,18,69,898/- for the\n assessment year 2016-17 and Rs.77,82,870/- for the assessment\nyear 2017-18 only on the basis of statement recorded u/s 132(4) of\nthe Act without support of any corroborative material. As such,\ninitiation of proceedings u/s 153C of the Act only on the basis of\nstatement recorded

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

section 153C of the Act. On the other\nhand, ld. D.R. submitted that the statement recorded u/s 132(4) of\nthe Act is not void-ab-initio and it is evident that the assessee has\nmade admission of bogus purchase for the year and agreed to offer\nthe same as additional income. Ld. D.R. further submitted that the\nstatement recorded

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,MANGALORE, MANGALORE vs. RAJ DIAMONDS, MUMBAI

In the result the appeal of the Revenue is dismissed &

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : 2018-19

section Date of Notice 1 148A(b) 10/03/2022 2 148A(d) 23/03/2022 3 148 23/03/2022 4 129 01/07/2022 5 143(2)* No valid Return filed by the assessee 6 142(1) 17/11/2022 7 Show Cause Notice 18/03/2023 The claim of the AO is that the assessee did not file any return of income in response to notice

TE CONNECTIVITY INDIA PRIVATE LIMITED,BANGALORE vs. THE OFFICE OF THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 7(1)(1), BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

133(6) to these parties and obtain the information and the alleged bogus purchases only could have been disallowed that at best the profit earned on the alleged bogus purchases. Only could have been disallowed by the AO and not the entire purchases. The Panel had called for certain details from the JAQ directing him to produce the details

HABIB AGRO INDUSTRIES ,MANDYA vs. DCIT, CENTRAL CIRCLE, MYSURU

In the result, appeal of the assessee is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

133(6) of the Act to Shri Idrish Khan proprietor M/s Arbiya Traders but no reply was received. Hence, a summon under section 131 of the Act was issued to which Shri Idrish Khan appeared personally but not furnished any required details called for. Hence, the AO disallowed the claim of purchases of firewood from M/s Arbiya Traders amounting

HABIB AGRO INDUSTRIES ,MANDYA vs. DCIT, CENTRAL CIRCLE, MYSURU

In the result, appeal of the assessee is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

133(6) of the Act to Shri Idrish Khan proprietor M/s Arbiya Traders but no reply was received. Hence, a summon under section 131 of the Act was issued to which Shri Idrish Khan appeared personally but not furnished any required details called for. Hence, the AO disallowed the claim of purchases of firewood from M/s Arbiya Traders amounting

HABIB AGRO INDUSTRIES,MANDYA vs. DCIT, CENTRAL CIRCLE, MYSURU

In the result, appeal of the assessee is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

133(6) of the Act to Shri Idrish Khan proprietor M/s Arbiya Traders but no reply was received. Hence, a summon under section 131 of the Act was issued to which Shri Idrish Khan appeared personally but not furnished any required details called for. Hence, the AO disallowed the claim of purchases of firewood from M/s Arbiya Traders amounting

HABIB AGRO INDUSTRIES ,MANDYA vs. DCIT, CENTRAL CIRCLE, MYSURU

In the result, appeal of the assessee is hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

133(6) of the Act to Shri Idrish Khan proprietor M/s Arbiya Traders but no reply was received. Hence, a summon under section 131 of the Act was issued to which Shri Idrish Khan appeared personally but not furnished any required details called for. Hence, the AO disallowed the claim of purchases of firewood from M/s Arbiya Traders amounting