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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

purchases recorded in the computer of the assessee firm containing date wise purchases made by the assessee from Malpe were found. When confronted, the partner present during the course of the survey proceedings, clarified that the purchases under the column "MalpePur Actual" represented the actual purchases for which payments had been made by NEFT/RTGS and ITA Nos.62 to 66/Bang/2023

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

145 (Raj.)]\n•\nShree Ganesh Trading Co. v. CIT [257 CTR (Jharkhand) 159]\n•\nACIT v. Ghatge Patil Industries Limited and vice-versa [ITA\nNo. 1281 to 1284/Pun/2016]\n•\nAvishkar Infrastructure Pvt. Ltd. V. DCIT [ITA\nNo.7165/MUM/2011] dated 17.06.2015.\n3.12 Additions to bogus purchase are invalid when sales have been\naccepted by the department:\n3.12.1 He stated that the learned

M/S ANANTHA REFINERY PVT. LTD. vs. DCIT,

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm

2. If the Revenue did not accept the correctness of the judgment in the case of Pradip Ramanlal Sheth, (supra) it should have preferred an appeal there against and instructed ITA Nos.1553 to 1554/Bang/2013 Page 30 of 42 counsel as to what the fate of that appeal was or why no appeal was filed. It is not open

M/S ANANTHA REFINERY PVT. LTD. vs. DCIT,

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm

2. If the Revenue did not accept the correctness of the judgment in the case of Pradip Ramanlal Sheth, (supra) it should have preferred an appeal there against and instructed ITA Nos.1553 to 1554/Bang/2013 Page 30 of 42 counsel as to what the fate of that appeal was or why no appeal was filed. It is not open

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

Bogus Purchases of Rs 4,38,15,000/- is deleted on that ground itself. 60. Accordingly, ITA number 410 Bangalore 2024 and CO no 6/bang /2024 filed by the assessee for assessment year 2018 – 19 are allowed. 61. ITA number 411/Bangalore/2020, is filed by the assessee for assessment year 2019 – 20 raising several grounds of appeal. However, the main contention

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

Bogus Purchases of Rs 4,38,15,000/- is deleted on that ground itself. 60. Accordingly, ITA number 410 Bangalore 2024 and CO no 6/bang /2024 filed by the assessee for assessment year 2018 – 19 are allowed. 61. ITA number 411/Bangalore/2020, is filed by the assessee for assessment year 2019 – 20 raising several grounds of appeal. However, the main contention

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

Bogus Purchases of Rs 4,38,15,000/- is deleted on that ground itself. 60. Accordingly, ITA number 410 Bangalore 2024 and CO no 6/bang /2024 filed by the assessee for assessment year 2018 – 19 are allowed. 61. ITA number 411/Bangalore/2020, is filed by the assessee for assessment year 2019 – 20 raising several grounds of appeal. However, the main contention

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

Bogus Purchases of Rs 4,38,15,000/- is deleted on that ground itself. 60. Accordingly, ITA number 410 Bangalore 2024 and CO no 6/bang /2024 filed by the assessee for assessment year 2018 – 19 are allowed. 61. ITA number 411/Bangalore/2020, is filed by the assessee for assessment year 2019 – 20 raising several grounds of appeal. However, the main contention

INSTAKART SERVICES PRIVATE LIMITED,BANGALORE vs. ACIT, SPECIAL RANGE-3, BANGALORE

In the result appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

145(3) of the Act are applicable. In such circumstances, the question is as to whether the AO had power to go beyond the book results. In our view, the AO was not empowered under the Act to do so. 52. As laid down by the Hon'ble Supreme Court in the case of Calcutta Discount Co. (supra), when

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

Bogus\nPurchases of Rs 4,38,15,000/- is deleted on that ground itself.\n60.\nAccordingly, ITA number 410 Bangalore 2024 and CO no 6/bang\n/2024 filed by the assessee for assessment year 2018 19 are\nallowed.\n61.\nITA number 411/Bangalore/2020, is filed by the assessee for\n assessment year 2019 20 raising several grounds of appeal.\nHowever, the main

M/S CANARA HOUSING DEVELOPMENT COMPANY,BANGALORE vs. JCIT, BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

section 145(2) of the Act also. The principle of prudence seeks to ensure that provision ought to be made for all known liabilities and losses even though there may remain some uncertainty with its determination. So however, it has to be appreciated that what the principle of prudence signifies is that the probable losses should be immediately recognized

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

145\n22 on 30.09.2022, as per the sixth proviso to section 153B(1) of the Act.\nTherefore, the assessments completed on 24.11.2023 and 28.11.2023\nare clearly barred by limitation and are void ab initio.\n8.5 The ld. AR concluded by praying that the Hon’ble Tribunal may\nkindly hold that the assessments made for A.Ys

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

2 issues raised therein. The first issue (G. Nos.1 to 6) raised by the assessee is that the learned CIT(A) erred in confirming the addition made on account of cash purchases for Rs.3,64,13,598/- only. 2.1 The relevant facts are that the assessee is an individual and running two proprietary concerns namely M/s Srinath Enterprise

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

2 issues raised therein. The first issue (G. Nos.1 to 6) raised by the assessee is that the learned CIT(A) erred in confirming the addition made on account of cash purchases for Rs.3,64,13,598/- only. 2.1 The relevant facts are that the assessee is an individual and running two proprietary concerns namely M/s Srinath Enterprise