DCIT, CENTRAL CIRCLE-1(3), BAENGALURU vs. LATE SHRI MAHABIR PRASAD(LEGAL HEIR MS. PARUL KANSARIA), BENGALURU

In the result, the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

139 of the act for assessment year 2017 – 18 was 7/12/2017 and search took place on 7/8/2019 and last date for the issue of notice under section 143 (2) was 30/9/2018 and therefore no addition could have been made in the hands of the assessee on account of unaccounted cash sales for assessment year 2017 – 18. This has been deleted

LATE SHRI MAHABIR PRASAD(LEGAL HEIR MS. PARUL KANSARIA),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(3) , BENGALURU

In the result, the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

139 of the act for assessment year 2017 – 18 was 7/12/2017 and search took place on 7/8/2019 and last date for the issue of notice under section 143 (2) was 30/9/2018 and therefore no addition could have been made in the hands of the assessee on account of unaccounted cash sales for assessment year 2017 – 18. This has been deleted

LATE SHRI MAHABIR PRASAD(LEGAL HEIR MS. PARUL KANSARIA),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

139 of the act for assessment year 2017 – 18 was 7/12/2017 and search took place on 7/8/2019 and last date for the issue of notice under section 143 (2) was 30/9/2018 and therefore no addition could have been made in the hands of the assessee on account of unaccounted cash sales for assessment year 2017 – 18. This has been deleted

LATE SHRI MAHABIR PRASAD(LEGAL HEIR MS. PARUL KANSARIA),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3) , BENGALURU

In the result, the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

139 of the act for assessment year 2017 – 18 was 7/12/2017 and search took place on 7/8/2019 and last date for the issue of notice under section 143 (2) was 30/9/2018 and therefore no addition could have been made in the hands of the assessee on account of unaccounted cash sales for assessment year 2017 – 18. This has been deleted

DCIT, CENTRAL CIRCLE-1(3), BENGALURU vs. LATE SHRI MAHABIR PRASAD (LEGAL HEIR MS. PARUL KANSARIA), BENGALURU

In the result, the appeal filed by the assessee is allowed

139 of the act for\n assessment year 2017 – 18 was 7/12/2017 and search took place on\n7/8/2019 and last date for the issue of notice under section 143 (2) was\n30/9/2018 and therefore no addition could have been made in\nthe hands of the assessee on account of unaccounted cash sales for\n assessment year 2017 18. This

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

bogus entity that engages in accommodation entries. ITA No.1361/Bang/2025 & CO 20/Bang/2025 M/s. Raj Diamonds, Mumbai Page 5 of 18 4.2 The case of the assessee was reopened to verify the financial transactions of the assessee, M/s. Raj Diamonds with M/s. Tanman Jewels Pvt Ltd and M/s. Vallabh Diamonds Pvt Ltd and accordingly various notices were issued and duly served

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

bogus entry and it is proved beyond reasonable doubt that it is only an adjustment entry to reduce the profits as per books by inflating expenditure and reducing tax liability thereon. In the light of the above, the assessee was further asked to substantiate why section 40A(3) of the Act should not be invoked in the assessee’s case

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

bogus entry and it is proved beyond reasonable doubt that it is only an adjustment entry to reduce the profits as per books by inflating expenditure and reducing tax liability thereon. In the light of the above, the assessee was further asked to substantiate why section 40A(3) of the Act should not be invoked in the assessee’s case

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

bogus entry and it is proved beyond reasonable doubt that it is only an adjustment entry to reduce the profits as per books by inflating expenditure and reducing tax liability thereon. In the light of the above, the assessee was further asked to substantiate why section 40A(3) of the Act should not be invoked in the assessee’s case

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

139 crores, out of which undisclosed inflated purchases have been worked out year-wise. Similar findings were recorded for M/s Sanjana Trading Corporation, where inflated purchases were also admitted. On this basis, undisclosed income on account of inflated and non-genuine purchases has been computed at ₹3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed inflated purchases have been worked out year-wise. Similar findings were recorded for M/s Sanjana Trading Corporation, where inflated purchases were also admitted. On this basis, undisclosed income on account of inflated and non-genuine purchases has been computed at ₹3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order

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

139 crores, out of which undisclosed\ninflated purchases have been worked out year-wise. Similar findings\nwere recorded for M/s Sanjana Trading Corporation, where inflated\npurchases were also admitted. On this basis, undisclosed income on\naccount of inflated and non-genuine purchases has been computed at\n3,64,13,598/-, details of which are set out in the assessment order