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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

bogus purchases accounted by the assessee as found by any of the lower authorities.” 3.7 In the instant case though assessee had received the supplies from the persons in respect to whom additional income is offered, it has admitted additional income to co-operate with the department. Only where the parties have confirmed, the additional income is not offered

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

133(6) nor initiated any proceedings under section 153C of the Act. Thus, if the Ld. AO considers that cash that has been withdrawn by the seller is genuine, then, the Assessee's purchases should also be considered as genuine. However, without verification of above factual positions the Ld. AO has concluded the assessment by considering the entire amount

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

133(6) nor initiated any proceedings under section 153C of the Act. Thus, if the Ld. AO considers that cash that has been withdrawn by the seller is genuine, then, the Assessee's purchases should also be considered as genuine. However, without verification of above factual positions the Ld. AO has concluded the assessment by considering the entire amount

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

133(6) nor initiated any proceedings under section 153C of the Act. Thus, if the Ld. AO considers that cash that has been withdrawn by the seller is genuine, then, the Assessee's purchases should also be considered as genuine. However, without verification of above factual positions the Ld. AO has concluded the assessment by considering the entire amount

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

133(6) nor initiated any proceedings under section 153C of the Act. Thus, if the Ld. AO considers that cash that has been withdrawn by the seller is genuine, then, the Assessee's purchases should also be considered as genuine. However, without verification of above factual positions the Ld. AO has concluded the assessment by considering the entire amount

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

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

6,02,229 Chidanand 16,45,615 16,45,615 16,45,615 TOTAL 2,11,70,719 1,23,85,406 93,00,821 In the statement u/s 132(4) K.Mohammed Harris had admitted Rs.1,23,85,406 as bogus purchases for the year and agreed to offer the same as additional income. However in the return of income

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

section 153C of the Act namely discretionary in assets/documents in the course of search conducted in the case of any person that belong to the assessee and is relevant for computing the income of the assessee for the year under appeal is totally absent. 3. The facts of the issue are that there was a search

AMRUTHA CONSTRUCTIONS PRIVATE LIMITED,SANJAYANAGAR vs. DCIT CENTRAL CIRCLE 2(2) , BANGALORE

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus purchases, specially in the absence of any incriminating material found or brought on record suggesting false purchases. It is also significant to note that in the subsequent assessment year, purchases from the same supplier have been accepted as genuine by the Department, which supports the continuity and authenticity of the business relationship. Therefore, considering all the above, we hold

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

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE, BANGALORE vs. AMRUTHA CONSTRUCTIONS PRIVATE LIMITED, BANGALORE

In the result appeal of the Revenue is partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus purchases, specially in the absence of any incriminating material found or brought on record suggesting false purchases. It is also significant to note that in the subsequent assessment year, purchases from the same supplier have been accepted as genuine by the Department, which supports the continuity and authenticity of the business relationship. Therefore, considering all the above, we hold

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. M/S BIOWORTH INDIA PRIVATE LIMITED , KOLKATA

In the result, the appeal filed by the revenue is dismissed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2010-11

purchase value which was doubted by the AO and sales considerations were not accepted. The assessee produced valuation report done by Chartered Account following the Net realizable value of both the companies. From the paper books it has been observed that the both companies replied the notices issued u/s 133(6) of the I. T. Act. which are placed

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