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

bogus\nentries in books.\n(2)\nSo, when ‘NO PURCHASE” was made, obviously there\nwas “NO SALE”. So, there is no question of any profit\nelement.\n4.6 Regarding ground of appeals No.8 in ITA Nos. 431-\n434/Β/2024(A.Y.2013-14 to A.Y.2016-17) & ground of appeals\nNo.9 in ITA Nos.435/B/2024 (A.Y.2017-18) she submitted that\nSanction u/s 153 D not adjudicated

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

150 for the AY 2008-09 towards bogus purchase when the facts are clear that the purchases made by the Appellant was evident with the bills, goods receipt notes which form part of the seized material and the payments have been made through cheques, that is banking channels. The Hon. CIT(A) erred in confirming the same. ITA Nos.131

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

150 for the AY 2008-09 towards bogus purchase when the facts are clear that the purchases made by the Appellant was evident with the bills, goods receipt notes which form part of the seized material and the payments have been made through cheques, that is banking channels. The Hon. CIT(A) erred in confirming the same. ITA Nos.131

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

150 for the AY 2008-09 towards bogus purchase when the facts are clear that the purchases made by the Appellant was evident with the bills, goods receipt notes which form part of the seized material and the payments have been made through cheques, that is banking channels. The Hon. CIT(A) erred in confirming the same. ITA Nos.131

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

150 for the AY 2008-09 towards bogus purchase when the facts are clear that the purchases made by the Appellant was evident with the bills, goods receipt notes which form part of the seized material and the payments have been made through cheques, that is banking channels. The Hon. CIT(A) erred in confirming the same. ITA Nos.131

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

150/- respectively. ITA Nos.1553 to 1554/Bang/2013 Page 5 of 42 7. Aggrieved, the assessee took up the issues, among others, with the CIT (A). After taking into account the assessee's contentions and also the reasoning of the AO in disallowing the purchases of Rs.9.62 crores and Rs.11.94 crores allegedly made from the above named three entities and since

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

150/- respectively. ITA Nos.1553 to 1554/Bang/2013 Page 5 of 42 7. Aggrieved, the assessee took up the issues, among others, with the CIT (A). After taking into account the assessee's contentions and also the reasoning of the AO in disallowing the purchases of Rs.9.62 crores and Rs.11.94 crores allegedly made from the above named three entities and since

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

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

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

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 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

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

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

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