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

MAHAVEER SARASWATHI,ARSIKERE vs. ITO, HASSAN

In the result, the assessee's appeals in ITA No

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

271(1)(c) of the Act for the Assessment Year 2010-11. 2. First we take up the quantum appeal of the assessee wherein the assessee has raised the following grounds : “ 1. The learned CIT (Appeals) erred in passing the order in the manner which he did. 2. The learned CIT (Appeals) erred in confirming the addition made of Rs.1

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

section 132A. 50.3 Applicability-These\namendments will take effect from the 1st day of June, 2007.\"\n\n6.2 From the perusal of the section 153D of the Act read with the CBDT\nCircular No. 3 of 2008, dated 12-3-2008, the legislative intent can be gathered\nso far as that the legislature in its highest wisdom made it compulsory

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

Section\n153D. It is not an exercise dealing with a immaterial matter which\ncould be corrected by taking recourse to Section 292B of the Act.\n16. We are not inclined to interdict the order of the Tribunal.\n17. Accordingly, the appeal is closed.\n6.5 The above view taken by the Hon’ble Delhi High Court in the case of PCIT

DCIT, CIRCLE 2(1)(1), BANGALORE, BANGALORE vs. EKA SOFTWARE SOLUTIONS PRIVATE LIMITED, BANGALORE

In the result, appeal filed by the Revenue is allowed for statistical purposes

Bench: Shri George George K & Shri Chandra Poojarind Shri Laxmi Prasad Sahuassessment Year : 2011-12 Dcit, Vs. M/S. Eka Software Solutions Pvt. Ltd., Circle – 2(1)(1), Building 2A, East Tower, Bengaluru. Vrindavan Tech Village, Outer Ring Road, Devarbeesanhalli Village, Varthur Hobli, Bengaluru – 575 001. Pan : Aabce 3660 Q Appellant Respondent Assessee By : Shri. Ajay Rotti, Ca Revenue By : Ms. Neera Malhotra, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 14.02.2024 Date Of Pronouncement : 14.02.2024

bogus purchases and Penalty u/s 271(1)(c) was levied on estimated income. The ITAT, Mumbai has held that penalty u/s 271(1)(c) cannot be levied on adhoc addition. The facts of the instant case are exactly identical to the facts of M/s. Chempure discussed above. In the light of the foregoing discussion, the Assessing Officer is directed

SHRI ROOPCHAND PUGALIA ,BANGALORE vs. INCOME TAX OFFICER WARD-3(2)(3), BANGALORE

In the result, the appeals are allowed

Bench: Shri N.V. Vasudevan & Shri G. Manjunatha

purchase and sale of shares were bogus and it was nothing but an attempt to introduce Assessees’ own money outside the books of accounts in the form of LTCG. 3. The AO initiated penalty proceedings in the orders of assessment in the case of both the Assessees u/s.271(1)(c) of the Act. The AO imposed penalty on the Assessee

SHRI NARANDAR PUGALIA ,BANGALORE vs. INCOME TAX OFFICER WARD-3(2)(3), BANGALORE

In the result, the appeals are allowed

Bench: Shri N.V. Vasudevan & Shri G. Manjunatha

purchase and sale of shares were bogus and it was nothing but an attempt to introduce Assessees’ own money outside the books of accounts in the form of LTCG. 3. The AO initiated penalty proceedings in the orders of assessment in the case of both the Assessees u/s.271(1)(c) of the Act. The AO imposed penalty on the Assessee

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

In the result, both the appeals of the assessee are\nallowed

bogus so as to disallow the same and brought to tax as\nundisclosed income of the assessee.\n5.7 Further, there was a CBDT circular file no.286/98/2013-IT\n(Inv.II) dated 18.12.2014 which states as under:\n“Instances/complaints of undue influence/coercion have come to notice of\nthe CBDT that some assessees were coerced to admit undisclosed income\nduring Searches/Surveys conducted

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

In the result, both the appeals of the assessee are\nallowed

bogus so as to disallow the same and brought to tax as\nundisclosed income of the assessee.\n5.7 Further, there was a CBDT circular file no.286/98/2013-IT\n(Inv.II) dated 18.12.2014 which states as under:\n“Instances/complaints of undue influence/coercion have come to notice of\nthe CBDT that some assessees were coerced to admit undisclosed income\nduring Searches/Surveys conducted

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

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

YASH VARDHAN ARYA,BANGALORE vs. THE INCOME TAX OFFICER, (INTERNATIONAL TAXATION) WARD-1(1), BANGALORE

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

Bench: Shri George George K

271(1)(c) are also initiated on account of filing wrong particulars of income and for concealing the particulars of income for the year under house property income.” 5. Aggrieved by the order of the CIT(A), the assessee has raised this issue before the Tribunal. The assessee has filed a paper book comprising of 213 pages inter alia enclosing