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3 results for “bogus purchases”+ Section 270A(1)clear

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Key Topics

Section 2708Section 270A4Section 270A(9)2Section 22Penalty2Addition to Income2

M/S ENRICE ENTERPRISES PVT. LTD,CHENNAI vs. DCIT,CENTRAL CIRCLE-3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

ITA 1166/CHNY/2023[2017-18]Status: DisposedITAT Chennai06 Mar 2024AY 2017-18

Bench: Shri Manjunatha. G & Shri Manomohan Das

For Appellant: Shri D. Anand, AdvFor Respondent: Shri R. Clement Ramesh –
Section 2Section 270Section 270ASection 270A(9)

270A while levying penalty by invoking sub section (9) of section 270(A). 9. The learned CIT(A) ought to have seen that appellant has admitted a consolidated sum of Rs.113.99 Crores over the Financial Years and accordingly allocated the admitted sum over a period of 5 years on adhoc basis and the same has been assessing officer has accepted

M/S ENRIA ENTERPRISES PVT. LTD,CHENNAI vs. DCIT. CENTRAL CIRCLE - 3(4), CHENNAI

In the result, appeal filed by the assessee in ITA

ITA 1167/CHNY/2023[2018-19]Status: DisposedITAT Chennai06 Mar 2024AY 2018-19

Bench: Shri Manjunatha. G & Shri Manomohan Das

For Appellant: Shri D. Anand, AdvFor Respondent: Shri R. Clement Ramesh –
Section 2Section 270Section 270ASection 270A(9)

270A while levying penalty by invoking sub section (9) of section 270(A). 9. The learned CIT(A) ought to have seen that appellant has admitted a consolidated sum of Rs.113.99 Crores over the Financial Years and accordingly allocated the admitted sum over a period of 5 years on adhoc basis and the same has been assessing officer has accepted

ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. PRUDENTIAL SUGAR CORPORATION LIMITED, CHITOOR

ITA 2298/CHNY/2024[2018-19]Status: DisposedITAT Chennai17 Jul 2025AY 2018-19

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:2298/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 The Assistant Commissioner Of Prudential Sugar Corporation Income Tax, Vs. Limited, Ltu, Circle -1, Prudential Nagar, Chennai. Koppedu Post, Nindra, Mandal – 517 587. [Pan:Aaacp-4338-D] (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Ms. E. Pavuna Sundari, C.I.TFor Respondent: Shri. D. Anand, Advocate
Section 50Section 50B

1. The net worth of the company as on 31.03.2014 (just before purchase of shares by the assessee) stood at Rs.6,82,841/- in negative. From the above observations, it appears that Financial statements does not show any genuine business activity conducted by this company. 8. Further, the AO observed that the slump sale of the undertaking took place