M/S SEO LEHENGA HOUSE,JAGRAON vs. DCIT, CENTRAL CIRCLE -3, LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

SEO LEHENGA HOUSE,JAGRAON vs. DCIT CENTRAL CIRCLE(3) , LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

M/S SEO LEHENGA HOUSE,JAGRAON vs. DCIT-CENTRAL CIRCLE-3, LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

SEO BRIDAL STUDIO PVT LTD,LUDHIANA vs. DCIT CENTRAL CIRCLE(3), LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

M/S SEO LEHENGA HOUSE,JAGRAON vs. DCIT, CENTRAL CIRCLE-3, LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

M/S SEO LEHENGA HOUSE,JAGRAON vs. DCIT, CENTRAL CIRCLE-3, LUDHIANA

In the result, ground no. 3,4,5 & 6(a) are dismissed as not pressed and ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

1% on total amount of bogus purchase and sale amounting to Rs. 17,85,59,558/- which comes to Rs. 17,85,596/- should not be treated as unexplained expenditure under section 69C of the Act. 6.3 In response, the assessee submitted that they have paid commission at the rate of 0.25% on total bogus purchase and sale which

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

bogus purchases, the theory that the transaction defies human probability cannot be applied to purchases in isolation, but has to be applied to the entire transaction in the light of documentary evidences produced by the assessee; and that where the sales are accepted as genuine, the purchases cannot be disallowed. 12.5 The decision of the Delhi Bench of the Tribunal

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

bogus purchases, the theory that the transaction defies human probability cannot be applied to purchases in isolation, but has to be applied to the entire transaction in the light of documentary evidences produced by the assessee; and that where the sales are accepted as genuine, the purchases cannot be disallowed. 12.5 The decision of the Delhi Bench of the Tribunal

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

bogus purchases, the theory that the transaction defies human probability cannot be applied to purchases in isolation, but has to be applied to the entire transaction in the light of documentary evidences produced by the assessee; and that where the sales are accepted as genuine, the purchases cannot be disallowed. 12.5 The decision of the Delhi Bench of the Tribunal

SHRI GURU RAM DASS EDUCATIONAL SOCIETY,MOHALI vs. PR.CIT(CENTRAL) GURGAON, AT CHANDIGARH

section 13(1) of the Act then the trust could not be said to be carrying out its activities genuinely and solely for the purposes of its objects, even if the part of its receipt / expenses were unaccounted. According to the Ld. Pr CIT the assessee was indulged in siphoning off its funds by booking bogus expenses and diversion

CHANDIGARH EDUCATIONAL TRUST,MOHALI vs. PR.CIT-CENTRAL,GURGAON, AT CHANDIGARH

section 13(1) of the Act then the trust could not be said to be carrying out its activities genuinely and solely for the purposes of its objects, even if the part of its receipt / expenses were unaccounted. According to the Ld. Pr CIT the assessee was indulged in siphoning off its funds by booking bogus expenses and diversion

CHANDIGARH EDUCATIONAL SOCIETY,MOHALI vs. PR.CIT(CENTRAL)-GURGAON, AT CHANDIGARH

section 13(1) of the Act then the trust could not be said to be carrying out its activities genuinely and solely for the purposes of its objects, even if the part of its receipt / expenses were unaccounted. According to the Ld. Pr CIT the assessee was indulged in siphoning off its funds by booking bogus expenses and diversion

WINSOME TEXTILE INDUSTRIES LIMITED,CHANDIGARH vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

bogus purchases was validly done by the AO. Once, the assessment is validly reopened, the AO, in terms of Explanation 3 to section 147 is entitled to examine any issue which might come to his notice subsequently. As such, the argument of the assessee that the issue related to GDR having been already examined would render the reopening invalid

SH. VIBHAV JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

56 CCH 102 (Del Trib). 9.5 Regarding the findings of the Ld. CIT(A), it was submitted that the purchased documents of the share cannot be considered as incriminating documents, rather these documents would support the stand of the assessee that the share purchase are genuine and are backed by proper documents. And the assessee has already taken the effect

SH. BIPAN JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

56 CCH 102 (Del Trib). 10.5 Regarding the findings of the Ld. CIT(A), it was submitted that the purchased documents of the share cannot be considered as incriminating documents, rather these documents would support the stand of the assessee that the share purchase are genuine and are backed by proper documents. And the assessee has already taken the effect

SH. AKHIL JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

56 CCH 102 (Del Trib). 10.5 Regarding the findings of the Ld. CIT(A), it was submitted that the purchased documents of the share cannot be considered as incriminating documents, rather these documents would support the stand of the assessee that the share purchase are genuine and are backed by proper documents. And the assessee has already taken the effect

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

56 CCH 102 (Del Trib). 10.5 Regarding the findings of the Ld. CIT(A), it was submitted that the purchased documents of the share cannot be considered as incriminating documents, rather these documents would support the stand of the assessee that the share purchase are genuine and are backed by proper documents. And the assessee has already taken the effect

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

56 CCH 102 (Del Trib). 10.5 Regarding the findings of the Ld. CIT(A), it was submitted that the purchased documents of the share cannot be considered as incriminating documents, rather these documents would support the stand of the assessee that the share purchase are genuine and are backed by proper documents. And the assessee has already taken the effect