GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

ACIT, CENTRAL CIRCLE- 26, NEW DELHI vs. GD FOODS MANUFACTURING (INDIA) PVT. LTD., NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

GD FOODS MANUFACTURING (INDIA) PVT. LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 26, NEW DELHI

The appeal of the revenue is dismissed

Bench: Shri Prashant Maharishi & Shri K. N. Chary

bogus purchases are made, cannot be ignored when same are interlinked, correlated and reconciled. We do not find any reason that when certain documents found from the hard disk are considered by the assessing officer for enhancing the income of the assessee, what could be the reason for ignoring other excels sheets found from the same hard disk

JUDGEMENTopens in new window

bogus sales or purchases, that had been routed back to the assessee in the form of share capital/share premium, albeit, through banking channels. 10.4. The Tribunal, in this context, records a finding of fact that ―no unaccounted income of the assessee‖ had been introduced in its books of accounts in the form of share capital. Based on this, the Tribunal

JUDGEMENTopens in new window

bogus sales or purchases, that had been routed back to the assessee in the form of share capital/share premium, albeit, through banking channels. 10.4. The Tribunal, in this context, records a finding of fact that ―no unaccounted income of the assessee‖ had been introduced in its books of accounts in the form of share capital. Based on this, the Tribunal

JUDGEMENTopens in new window

bogus sales or purchases, that had been routed back to the assessee in the form of share capital/share premium, albeit, through banking channels. 10.4. The Tribunal, in this context, records a finding of fact that ―no unaccounted income of the assessee‖ had been introduced in its books of accounts in the form of share capital. Based on this, the Tribunal

JUDGEMENTopens in new window

bogus sales or purchases, that had been routed back to the assessee in the form of share capital/share premium, albeit, through banking channels. 10.4. The Tribunal, in this context, records a finding of fact that ―no unaccounted income of the assessee‖ had been introduced in its books of accounts in the form of share capital. Based on this, the Tribunal

M/S VARDAAN FASHION,NEW DELHI vs. JCIT, NEW DELHI

In the result ground No. 3 of the appeal of the assessee is dismissed

Bench: I.C.Sudhir & Shri Prashant Maharishivardan Fashions, Jcit, E-1/7, 2Nd Floor, East Patel Range-33, Vs. Nagar, New Delhi New Delhi Pan:Aacfv0423H (Appellant) (Respondent) Acit, Vardan Fashions, Circle-33(1) E-1/7, 2Nd Floor, East Patel Vs. New Delhi Nagar, New Delhi Pan:Aacfv0423H (Appellant) (Respondent)

bogus bills and also applicant's own admission in the SOP about the suspicious nature of purchases, we are of the opinion that the Books of Accounts of both the applicants are unreliable and accordingly declared trading results are rejected in all respects as not showing the correct state of affairs of the businesses of the applicants except the export

ACIT, NEW DELHI vs. M/S VARDAN FASHION, NEW DELHI

In the result ground No. 3 of the appeal of the assessee is dismissed

Bench: I.C.Sudhir & Shri Prashant Maharishivardan Fashions, Jcit, E-1/7, 2Nd Floor, East Patel Range-33, Vs. Nagar, New Delhi New Delhi Pan:Aacfv0423H (Appellant) (Respondent) Acit, Vardan Fashions, Circle-33(1) E-1/7, 2Nd Floor, East Patel Vs. New Delhi Nagar, New Delhi Pan:Aacfv0423H (Appellant) (Respondent)

bogus bills and also applicant's own admission in the SOP about the suspicious nature of purchases, we are of the opinion that the Books of Accounts of both the applicants are unreliable and accordingly declared trading results are rejected in all respects as not showing the correct state of affairs of the businesses of the applicants except the export

PR. COMMISSIONER OF INCOME TAX -CENTRAL LUDHIANA vs. M/S. GARG ACRYLICS LTD

Bench: HON'BLE MR. JUSTICE VIBHU BAKHRU,HON'BLE MR. JUSTICE TEJAS KARIA

bogus sales and purchase, accordingly, the whole difference of Rs.20,24,39,341/- is being treated as undisclosed income of the assessee and the same is hereby added back in the income of the assessee. Since, I am satisfied that the assessee has concealed its income by furnishing inaccurate particulars of its income, therefore, penalty