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

unexplained income. Assessee cannot be held responsible for the cash withdrawals of the vendors. 4.23 The ld. A.R. submitted that it has a genuine relationship of buyer and seller with the sellers. The Assessee's role was only to purchase bottles and grapes with the vendors as per the requirement for its business purposes. The Assessee cannot be held responsible

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

unexplained income. Assessee cannot be held responsible for the cash withdrawals of the vendors. 4.23 The ld. A.R. submitted that it has a genuine relationship of buyer and seller with the sellers. The Assessee's role was only to purchase bottles and grapes with the vendors as per the requirement for its business purposes. The Assessee cannot be held responsible

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

unexplained income. Assessee cannot be held responsible for the cash withdrawals of the vendors. 4.23 The ld. A.R. submitted that it has a genuine relationship of buyer and seller with the sellers. The Assessee's role was only to purchase bottles and grapes with the vendors as per the requirement for its business purposes. The Assessee cannot be held responsible

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

unexplained income. Assessee cannot be held responsible for the cash withdrawals of the vendors. 4.23 The ld. A.R. submitted that it has a genuine relationship of buyer and seller with the sellers. The Assessee's role was only to purchase bottles and grapes with the vendors as per the requirement for its business purposes. The Assessee cannot be held responsible

M/S DELTA INFRALOGISTICS WORLDWIDE LIMITED,MANGALORE vs. ACIT, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

M/S DELTA INFRALOGISTICS WORLDWIDE LIMITED,MANGALORE vs. ACIT, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

DCIT, MANGALORE vs. M/S DELTA INFRALOGISTICS WORLDWIDE LTD, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

M/S DELTA INFRALOGISTICS WORLDWIDE LIMITED,MANGALORE vs. ACIT, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

DCIT, MANGALORE vs. M/S DELTA INFRALOGISTICS WORLDWIDE LTD, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

M/S DELTA INFRALOGISTICS WORLDWIDE LIMITED,MANGALORE vs. ACIT, MANGALORE

In the result, the assessee’s appeals for Assessment Years 2003-04 to 2008-

Bench: Shri N. V. Vasudevan & Shri Jason P Boazappeal Nos. & Appellant Respondent Assessment Years

unexplained investment in the purchase of property from Sri Ajith Kumar Rai relying on the erroneous initial declaration u/s.132[4] of the Act, made by Sri Mohiuddin, which has been explained by Sri Mohiuddin as incorrect subsequently that no such payment has been made, which has been substantiated by the examination of Sri Ajith Kumar Rai by the learned

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

In the result, the appeals of the assessee for Assessment Years

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus transactions. Sales cannot take place without purchases, and reconciliation of stock showed that no part of purchases could be treated as unexplained. The allegation that 25% of cash purchases were invested

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 Assessment Years

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

bogus transactions. Sales cannot take place without purchases, and reconciliation of stock showed that no part of purchases could be treated as unexplained. The allegation that 25% of cash purchases were invested

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

In the result, all the appeals of the assessee for A

invested in jewellery.\n2.7 Hence, the AO proposed to make addition on account of cash\npurchases at 25%. The AO worked the proposed amount of disallowance\nin case of assessee's proprietary concern (M/s Aishwarya Trading\nCorporation) for F.Y. 2012-13 to 2017-18 at Rs.12,15,43,896/- and out\nof which Rs.3,64,13,598/- pertains

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

In the result, all the appeals of the assessee for A

invested in jewellery.\n2.7 Hence, the AO proposed to make addition on account of cash\npurchases at 25%. The AO worked the proposed amount of disallowance\nin case of assessee's proprietary concern (M/s Aishwarya Trading\nCorporation) for F.Y. 2012-13 to 2017-18 at Rs.12,15,43,896/- and out\nof which Rs.3,64,13,598/- pertains