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. 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

purchase is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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

purchase is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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

purchase is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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

purchase is bogus. In our opinion, the enquiry made by the revenue authorities is not sufficient to hold that the assessee has not incurred these expenses. The sole reason for sustaining addition is the statement of Shri V. Janardhan, internal auditor of the assessee company. At the same time, there was a statement recorded for Suresh Gowda who has given

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 could not be added to the income. 11. Assessee replied to this notice on 18/3/2022 and it was submitted that (i) Mr Mahabir Kansaria was not feeling well at the time of search and under pressure the statements were given therefore the legal heir claims that the statement taken during search may not be relied upon

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 could not be added to the income. 11. Assessee replied to this notice on 18/3/2022 and it was submitted that (i) Mr Mahabir Kansaria was not feeling well at the time of search and under pressure the statements were given therefore the legal heir claims that the statement taken during search may not be relied upon

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 could not be added to the income. 11. Assessee replied to this notice on 18/3/2022 and it was submitted that (i) Mr Mahabir Kansaria was not feeling well at the time of search and under pressure the statements were given therefore the legal heir claims that the statement taken during search may not be relied upon

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 could not be added to the income. 11. Assessee replied to this notice on 18/3/2022 and it was submitted that (i) Mr Mahabir Kansaria was not feeling well at the time of search and under pressure the statements were given therefore the legal heir claims that the statement taken during search may not be relied upon

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

purchases made by assessee from these parties and treat it as a bogus so as to disallow the same and brought to tax as undisclosed income of the assessee. 5.7 Further, there was a CBDT circular file no.286/98/2013-IT (Inv.II) dated 18.12.2014 which states as under: “Instances/complaints of undue influence/coercion have come to notice of the CBDT that some assessees were

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

section 142 of the Act was issued on\n3/3/2022 addressed to all legal heirs jointly.\n10.\nIn the notice, Id AO asked that\n(i)\nduring search at the residence of the assessee certain paper\nsheets and images in mobile were found and seized which\nrevealed that certain cash transactions were done which were\nnot recorded in the books

HANUMANTHAPPA PATHRERA LAXMANA,SHIVAMOGGA vs. INCOME TAX OFFICER, WARD-(1) & TPS, SHIMOGGA

In the result, the assessee’s appeal is partly allowed whereas the Revenue’s appeal is dismissed

Bench: Shri Narender Kumar Chodhry & Shri Waseem Ahmedassessment Year: 2020-21

197 only. 8.3 As regards sundry creditors, we note that they are merely trade liabilities arising from the very purchases which have been accepted (subject to profit element addition). Once purchases are accepted as having been made, the corresponding creditors cannot be held bogus without disturbing the purchases themselves. The logic is simple: if purchases are held to be genuine

INCOME TAX OFFICER, WARD-1 & TPS, SHIVAMOGGA vs. HANUMANTHAPPA PATHRERA LAXMANA, SHIVAMOGGA

In the result, the assessee’s appeal is partly allowed whereas the Revenue’s appeal is dismissed

Bench: Shri Narender Kumar Chodhry & Shri Waseem Ahmedassessment Year: 2020-21

197 only. 8.3 As regards sundry creditors, we note that they are merely trade liabilities arising from the very purchases which have been accepted (subject to profit element addition). Once purchases are accepted as having been made, the corresponding creditors cannot be held bogus without disturbing the purchases themselves. The logic is simple: if purchases are held to be genuine

MKH INFRASTRUCTURE,KERALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

bogus shareholders through banking channels that as disputed. There were no countering evidences with the department in the form of seized materials etc in that case to disprove the claim. Further, the ratio arrived at in the aforesaid case have been nullified by a specific amendment to section 68 vide Finance Act 2012. None of the above facts apply

M/S. EMIRATES HINDUSTAN BUILDERS AND DEVELOPERS,KERALA vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

bogus shareholders through banking channels that as disputed. There were no countering evidences with the department in the form of seized materials etc in that case to disprove the claim. Further, the ratio arrived at in the aforesaid case have been nullified by a specific amendment to section 68 vide Finance Act 2012. None of the above facts apply