INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(4), CHENNAI

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

bogus purchases from 12% to 20% by the Id. CIT(A) was\nwithout any rational basis. Accordingly, the assessee sought deletion\nof the resultant addition of Rs.35,39,166/-.\n78. Aggrieved by the relief granted by the Id. CIT(A), the Revenue\nraised nine grounds of appeal. Ground Nos.1 and 9 were general in\nnature and did not call

ACIT, NUNGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

bogus\npurchases as against appellant's voluntary disallowance of 12% in\nROI u/s 148.\n3.1 On facts and under the circumstances of the case, the learned\nCommissioner of Income Tax (Appeals)-19, Chennai erred in\nadjudicating the disallowances at 20% of the alleged bogus\npurchases, which is over and above the disallowances of 12% on\nalleged bogus purchases voluntarily returned

INTEGRATED SERVICE POINT LTD.,CHENNAI vs. ACIT, CC-2(4), CHENNAI

Accordingly, the assessee's appeals in ITA Nos.1881, 1882,\nand 1883/Chny/2025 for A.Ys.2016-17, 2019-20, and 2022-23 are\nallowed

purchases & held in favour of\nrevenue.\n6. The Ld. LD.CIT(A) erred in deleting the addition made on\naccount of disallowances for Expenses without taking into\nconsideration the fact that the expenses per se were bogus in\nnature\n7. The Ld. LD.CIT(A) has not taken cognizance of the decision of\nthe Hon'ble Madras High Court in the case

ACIT, NUNAGAMBAKKAM vs. INTEGRATED SERVICE POINT LIMITED, ANNA NAGAR

purchases & held in favour of\nrevenue.\n6. The Ld. LD.CIT(A) erred in deleting the addition made on\naccount of disallowances for Expenses without taking into\nconsideration the fact that the expenses per se were bogus in\nnature\n7. The Ld. LD.CIT(A) has not taken cognizance of the decision of\nthe Hon'ble Madras High Court in the case

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Section 153C.\nThe power to undertake such an assessment would stand confined to\nthose years to which the material may relate or is likely to influence.\nAbsent any material that may either cast a doubt on the estimation of\ntotal income for a particular year or years, the AO would not be justified\n:: 41 ::\nITA Nos.1254, 1255, 1258, 1260/Chny/2025

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the both the appeals filed by the Revenue and the Revenue and the

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act fro analyzed the entire statutory framework of Section 153C of the Act from its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance Act, 2017 and its its introduction to the amendment by Finance

DCIT CC 2 2 , CHENNAI, CHENNAI vs. SOUTHERN AGRIFURANE INDUSTRIES PVT LTD, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

Section 153C.\nThe power to undertake such an assessment would stand confined to\nthose years to which the material may relate or is likely to influence.\nAbsent any material that may either cast a doubt on the estimation of\ntotal income for a particular year or years, the AO would not be justified\n:: 41 ::\nITA Nos.1254, 1255, 1258, 1260/Chny/2025

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

bogus purchases is Rs.4,41,70,464/- for the F.Y 2017-18 (From July\n2017), Rs.5,69,70,130/- for the F.Y 2018-19 and Rs.2,95,16,955/- for\nthe F.Y. 2019-20 (up to 4.8.2019).\nThe above seized materials were handed over to the undersigned on\n18.06.2021. On perusal of the seized material I am satisfied that

SOUTHERN AGRIFURANE INDUSTRIES PVT. LTD.,CHENNAI vs. ACIT, CENTRAL CIRCLE-2(2),, CHENNAI

In the result, both the appeals filed by the Revenue and the\nassessee are dismissed

bogus purchases. Notices under Section 153C were issued to the assessee for Assessment Years 2014-15 to 2017-18.", "held": "The Tribunal held that the notices issued under Section 153C were invalid because the satisfaction note recorded by the Assessing Officer did not establish a nexus between the seized material and the relevant Assessment Years. The Tribunal found a complete

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRLCE-1(4), CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

R.VISWANATHAN,CHENNAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4),, CHENNAI

Section\n132(4A) of the Act and hence these notings on stand-alone basis would\nhave entailed substantial tax liabilities on him. However, according to the\nLd. AR, what Shri CPA did not foresee was that he would be faced with\nconsequences under other regulations such as PMLA, FEMA violations etc.\nas well. The Ld. AR submitted that, the Revenue

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), CHENNAI, CHENNAI vs. RAMANATHAN VISWANATHAN, CHENNAI

In the result, all appeals filed by the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Shri Aby T. Varkey & Shri S.R.Raghunatha

Section 132(4A) of the Act and hence these notings on stand-alone basis would have entailed substantial tax liabilities on him. However, according to the Ld. AR, what Shri CPA did not foresee was that he would be faced with consequences under other regulations such as PMLA, FEMA violations etc. as well. The Ld. AR submitted that, the Revenue

ACIT, NUNGAMBAKKAM vs. HARIWAY LINES PVT LTD, CHENNAI

In the result, both the appeals of the Revenue are dismissed

292C which affirm the evidentiary value of any material\nseized during the course of search for the purposes of search assessments.\n6. For these grounds and any other ground including amendment of grounds\nthat may be raised during the course of the appeal proceedings, the order of\nlearned CIT(Appeals) may be set aside and that of the Assessing Officer

ACIT, CENTRAL CIRCLE 2.4, NUNGAMBAKKAM vs. RISHI ENTERPRISES, PUDUKKOTTAI

In the result, both the appeals of the Revenue are dismissed

292C which affirm the evidentiary value of any material\nseized during the course of search for the purposes of search assessments.\n6. For these grounds and any other ground including amendment of grounds\nthat may be raised during the course of the appeal proceedings, the order of\nlearned CIT(Appeals) may be set aside and that of the Assessing Officer

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, TRICHY, INCOME TAX OFFICE, TRICHY vs. LIFE LINE AUTO FINANCE, KARUR

bogus loans and advances\nby the firm & the loose sheets and admission based on that clearly proved\nthat there was investment of Rs.10 crores (which is more than 50 lakhs\nas stipulated as a pre condition).\n7. For these grounds and any other ground including amendment of\ngrounds that may be raised during the course of appeal proceedings, the\norder