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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

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 booked and sale of scrap outside the books by the assessee of unaccounted expenditure, which has been incurred, by the assessee for carrying out all these activities. Therefore, in view of above, we hold that only the profit element embedded therein or unaccounted expenditure not disclosed in the seized documents is required to be added to the income

ASSISTANT COMMISSIONER OF INCOME TAX, DELHI vs. THE INDURE PRIVATE LIMITED, DELHI

In the result, the appeal filed by the Department of Revenue is dismissed

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarassessment Year: 2013-14 Assistant Commissioner Of Vs. The Indure Private Limited, Income Tax, Indure House, Greater Kailash Part Ii, Delhi South Delhi 1100 48 Pan :Aaact0121C (Appellant) (Respondent)

144 r.w.s. 144B of the Act for AY 2013-14. 2. Brief facts of the case are assessee company filed its return of income under Section 139(1) of the Act declaring income of Rs.34,91,81,150/-. As per information available with the Department, the assessee during financial year 2012-13 ( assessment year 2013-14) had undertaken following transactions

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 purchases and sales. The CIT(A) and the learned ITAT concurrently found that making the said additions would amount to double taxation of the same income, therefore, had set aside the additions. 20. The ITAT also observed that the AO had not rejected the books of accounts and had not passed any order under Section 144

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

bogus accommodation purchase bills from M/s Kriya Impex Pvt. Ltd. at Rs.69,20,152/- thereby allowing relief of Rs.61,94,144/- when the purchase from such party was acknowledged to be an accommodation entry. 4. The CIT(A) erred in deleting addition of Rs.1,45,32,138/- which was made to the net profit by rejecting the books of accounts

ADDL.CIT, SPECIAL RANGE-18, NEW DELHI vs. JAGANANTH HEMCHAND JAIN, NEW DELHI

In the result, the appeal of the Revenue as well as Cross Objection of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us

bogus accommodation purchase bills from M/s Kriya Impex Pvt. Ltd. at Rs.69,20,152/- thereby allowing relief of Rs.61,94,144/- when the purchase from such party was acknowledged to be an accommodation entry. 4. The CIT(A) erred in deleting addition of Rs.1,45,32,138/- which was made to the net profit by rejecting the books of accounts

DCIT, NEW DELHI vs. M/S PILOT INDUSTRIES LTD.,, NEW DELHI

In the result, all the five appeals filed by the learned assessing officer are dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi(Through Video Conferencing)

bogus transaction of purchase and sales and therefore he carried out the verification of purchases. The learned AO further noted that as assessee is not furnishing the requisite details and has failed to produce the requisite details in time, its complete books of accounts and purchase vouchers, therefore he held that the book results of the assessee are not reliable

DCIT, NEW DELHI vs. M/S PILOT INDUSTRIES LTD.,, NEW DELHI

In the result, all the five appeals filed by the learned assessing officer are dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi(Through Video Conferencing)

bogus transaction of purchase and sales and therefore he carried out the verification of purchases. The learned AO further noted that as assessee is not furnishing the requisite details and has failed to produce the requisite details in time, its complete books of accounts and purchase vouchers, therefore he held that the book results of the assessee are not reliable

DCIT, NEW DELHI vs. M/S PILOT INDUSTRIES LTD.,, NEW DELHI

In the result, all the five appeals filed by the learned assessing officer are dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi(Through Video Conferencing)

bogus transaction of purchase and sales and therefore he carried out the verification of purchases. The learned AO further noted that as assessee is not furnishing the requisite details and has failed to produce the requisite details in time, its complete books of accounts and purchase vouchers, therefore he held that the book results of the assessee are not reliable