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

68\nof the Income Tax Act, 1961, on account of the statements made by the assessee's\nDirectors in the course of search under Section 132 of the Act were not justified?\"\n(a) In the case, the learned CIT-(A) held that evidence does\nnot mean only documentary evidence and the statement under section\n132

ACIT, CIRCLE-2(2)(1), BANGALORE vs. VASTIMAL BHIM RAJ SANCHETI, BANGALORE

In the result, the appeals of the Revenue are dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K

purchased, further invest in the shares of other company and so on. It can be seen as a sheer coincidence that many companies brought into existence, having link ITA Nos.440, 441/Bang/2024 Page 4 of 22 with each other and none of them doing any worthwhile business activity come together to issue shares at such a huge premium. This when considered

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE vs. AURA JEWELS, BANGALORE

In the result, the cross objection filed by the assessee is dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2017-18

purchase, sale, opening and closing stock (quantity wise and value wise) has been accepted by the department year after year and in some years under scrutiny proceedings, therefore, non existence of stock of business cannot be upheld; secondly, the sale of stock in the earlier years and the sale of balance left out stock in subsequent years has been accepted

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

section 68 cannot be imputed in the case of purchases. There is not even an allegation that the price paid was in excess or unreasonable. The trading results cannot be disturbed. Since the assessee has submitted substantial documents and books of accounts in support of its claim, the onus of the assessee stands discharged. On the contrary

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

section 68 cannot be imputed in the case of purchases. There is not even an allegation that the price paid was in excess or unreasonable. The trading results cannot be disturbed. Since the assessee has submitted substantial documents and books of accounts in support of its claim, the onus of the assessee stands discharged. On the contrary

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

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

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

section 153C of the Act namely discretionary in assets/documents in the course of search conducted in the case of any person that belong to the assessee and is relevant for computing the income of the assessee for the year under appeal is totally absent. 3. The facts of the issue are that there was a search

M/S. CRYSTAL GRANITE AND MARBLE PRIVATE LIMITED,RAMANAGARAM vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes and Stay Petition is dismissed as infructuous

Bench: Shri George George K & Shri Laxmi Prasad Sahus.P No.29/Bang/2023 Assessment Year: 2017-18

section 68 on account of bogus purchase of land was to be deleted” (iii) Overtop Marketing (P.) Ltd.[2023] 148 taxmann.com

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

Bench: Shri Chandra Poojari & Shri Keshav Dubey

section 153C of the Act namely discretionary in assets/documents in the course of search conducted in the case of any person that belong to the assessee and is relevant for computing the income of the assessee for the year under appeal is totally absent. 3. The facts of the issue are that there was a search

M P SWARNAMAHAL ,BANGALORE vs. ACIT, CIRCLE-7(2)(1), BANGALORE

In the result, appeal filed by the assessee is allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan Kassessment Year : 2017-18 M/S. M. P. Swarnamahal, Vs. Acit, 26 H J S Chambers, Richmond Road, Circle – 7(2)(1), Bangalore – 560 025, Karnataka. Bangalore. Pan : Aagfm 2876 A Appellant Respondent Assessee By : Smt. Suman Lunkar, Ca Revenue By : Shri. Subramanian S, Jcit(Dr)(Itat), Bangalore. Date Of Hearing : 04.11.2025 Date Of Pronouncement : 25.11.2025

purchased goods have been accepted and there is no defect point out in the books of accounts produced by the assessee. AO has treated the entire cash receipts under section 68 of the Act. Even the closing stock shown by the assessee is accepted. Once the out flow of stocks maintained by the assessee are accepted the sales receipt against