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Section 133A25 Section 14825 Section 13115 Section 143(3)10 Section 143(1)5 Section 1435 Section 1475 Section 132(4)5 Bogus Purchases5 Reopening of Assessment5 Addition to Income5 Survey u/s 133A5

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

ITA 62/BANG/2023[2012-13]Status: DisposedITAT Bangalore01 Sept 2023AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shi V. Srinivasan, A.RFor Respondent: Shri D.K. Mishra, D.R

Section 131Section 132(4)Section 133ASection 143Section 143(1)Section 143(3)Section 147Section 148

depreciation) declared by the assessee is substantially high as compared to other comparable cases. If at all the income is assessed as estimated in the statement, the same will result in assessment of unreasonably higher income defeating the principle of assessing the real income. Further, the sales are found to be genuine by the Revenue and thus the corresponding purchases