MFAR HOLDINGS PVT. LIMITED,BANGALORE vs. PR. CIT, BANGALORE

In the result, appeal of the assessee is dismissed

Bench: Shri. N. V. Vasudevan & Shri. Abraham P. George

269T of the Act. 07. However, Pr. CIT was not impressed with the above reply. According to him, business loss claimed on the sale of the property was only for the purpose of taking advantage of Section 45(2) of the Act, thereby inflating the cost of asset to the fair market value. As per the Pr. CIT, there

BYSANI ADINARAYAGUPTHA 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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

BYSANI ADINARAYAGUPTHA 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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

BYSANI ADINARAYAGUPTHA 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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nPage 10 of 33\nITA No.399-410/Bang/2025\nwhich means most cash purchases are matched against bank/cheque\nsales.\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\n\nwhich means most cash purchases are matched against bank/cheque\nsales.\n\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a\nsmall percentage of total sales (about 5% in ATC and 12% in STC),\nwhich means most cash purchases are matched against bank/cheque\nsales.\n3.4 It is further argued that no defect has been pointed out in the\nstock records, and in fact, purchases are fully reconciled with sales. All\nthe purchases made

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

transfer. Cash sales form only a small percentage of total sales (about 5% in ATC and 12% in STC), . ITA No.399-410/Bang/2025 Page 10 of 33 which means most cash purchases are matched against bank/cheque sales. 3.4 It is further argued that no defect has been pointed out in the stock records, and in fact, purchases are fully reconciled with sales

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

transfer. Cash sales form only a small percentage of total sales (about 5% in ATC and 12% in STC), . ITA No.399-410/Bang/2025 Page 10 of 33 which means most cash purchases are matched against bank/cheque sales. 3.4 It is further argued that no defect has been pointed out in the stock records, and in fact, purchases are fully reconciled with sales