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

CONE CRAFT PAPER PVT LTD,DELHI vs. PCIT-1, DELHI

In the result, the appeal of the assessee is accordingly allowed

Bench: Shri S. Rifaur Rahman & Shri Raj Kumar Chauhan

section 69C of the Act and made 100% addition of bogus purchase of Rs. 20.06. crores. Ld. AR further submitted that the various Tribunal including Jurisdictional Tribunal have distinguished the ratio of Kanak Impex (India) Ltd. (supra). Therefore, we proceed to discuss each case one by one as under:- i) ITO vs. Pradeep Kumar Agarwal (ITA No. 1544/JPR/2024) dated

M/S DHADDA INTERNATIONAL,DELHI vs. ACIT, NEW DELHI

In the result, the appeals filed by the Revenue are partly allowed

bogus purchase entries while sales have not been doubted. When sales are not doubted purchases alone cannot be disallowed at 100%. Making purchases through grey market gives the assessee benefits at the expense of exchequer. The assessee is engaged in the business of diamond trading. As per the report of task force of 10 ITA Nos.6408 & 6409/Del./2016 ITA Nos.6691

ACIT, NEW DELHI vs. M/S. DHADDA INTERNATIONAL, DELHI

In the result, the appeals filed by the Revenue are partly allowed

bogus purchase entries while sales have not been doubted. When sales are not doubted purchases alone cannot be disallowed at 100%. Making purchases through grey market gives the assessee benefits at the expense of exchequer. The assessee is engaged in the business of diamond trading. As per the report of task force of 10 ITA Nos.6408 & 6409/Del./2016 ITA Nos.6691

M/S DHADDA INTERNATIONAL,DELHI vs. ACIT, NEW DELHI

In the result, the appeals filed by the Revenue are partly allowed

bogus purchase entries while sales have not been doubted. When sales are not doubted purchases alone cannot be disallowed at 100%. Making purchases through grey market gives the assessee benefits at the expense of exchequer. The assessee is engaged in the business of diamond trading. As per the report of task force of 10 ITA Nos.6408 & 6409/Del./2016 ITA Nos.6691

ACIT, NEW DELHI vs. M/S. DHADDA INTERNATIONAL, DELHI

In the result, the appeals filed by the Revenue are partly allowed

bogus purchase entries while sales have not been doubted. When sales are not doubted purchases alone cannot be disallowed at 100%. Making purchases through grey market gives the assessee benefits at the expense of exchequer. The assessee is engaged in the business of diamond trading. As per the report of task force of 10 ITA Nos.6408 & 6409/Del./2016 ITA Nos.6691

INCOME TAX OFFICER, INCOME TAX OFFICE vs. RITU BALA, FARIDABDA

In the result, the appeal of Revenue is dismissed

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarassessment Year: 2018-19 Income Tax Officer, Ritu Bala, Vs. Faridabad 4237 Indra Prashtha Colony, Haryana Faridabad – 121 001 Haryana Pan :Bdhpb1495B (Appellant) (Respondent)

bogus sale amounting to 2.2,64,84,517/- was available. In order to verify the genuineness of the transactions of the case was reopened u/s 147. Subsequently, the AO passed an order under section 147 r.w.s. 144 read with section 144B dated 23/03/2023 making the following additions/disallowances to the total income of the appellant. i) Disallowance of Purchases

INCOME TAX OFFICER, DELHI vs. MOHD RIZWAN, DELHI

In the result, addition of Rs

section 144 of the Income-tax Act, 1961 (for short 'the Act') and the Assessing Officer has estimated the income on alleged bogus purchases

RAJESH KAPOOR,DELHI vs. ACIT, CIRCLE- 47(1), DELHI

Appeal is partly allowed

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Heard both the parties. Case file perused. 2. This assessee’s appeal raises the following substantive grounds: 1. Order of the Ld. CIT(A) is bad in law and against the facts of the case and in upholding the order of L.d. AO passed

INCOME TAX OFFICER WARD-2(1), FARIDABAD vs. PRAHLAD, PALWAL

In the result, the Revenue’s appeal is partly allowed as above

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishra

144 of the Act mandates that the AO has to make assessment after invocation of section 145(3) of the Act, if some bogus expenses had been claimed or any of the claims found excessive or income found understated because invoking powers under section 145(3) of the Act in each and every case is mandatory. During assessment

INCOME TAX OFFICER, NEW DELHI vs. ADVERMARK WIRESMITH PVT LTD, DELHI

Appeal is partly allowed

bogus purchases amounting to Rs. 17,82,500/-. The appeal was filed for the assessment year 2016-17, involving proceedings under section 147 r.w.s. 144

REAL VALUE FOODS PRIVATE LIMITED,DELHI vs. ITO WARD-21(1), NEW DELHI

Appeal is partly allowed in above terms

sections": ["69C", "147", "144"], "issues": "Whether the purchases treated as bogus under section 69C of the Act were indeed non-genuine

DEPUTY COMMISSIONER OF INCOME TAX, GHAZIABAD vs. MAHALAKSHMI LIGHT HOUSE, HAPUR

In the result, Cross Objection filed by the Assessee is allowed

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.Deputy Commissioner Of Vs. Mahalakshmi Light House, Income Tax 285, Avas Vikas Vihar, Room No. 201, First Floor, Hapur, Uttar Pradesh Cgo Complex, Hapur Chungi, Pan: Aatfm3627N Ghaziabad, Uttar Pradesh Appellant Respondent

bogus purchases of Rs.41,82,341/- from M/s Vrindavan International Trade Pvt. Ltd. 3. That on the facts and circumstances of the case, the Ld. CIT(A), NFAC erred in law and on facts in deleting the additions of Rs.2,97,78,663/- made to the business income of the assessee for the relevant assessment year on account of under

IMRAN AHMAD,MORADABAD, UTTAR PRADESH vs. INCOME TAX OFFICER, MORADABAD

Appeal is partly allowed

144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Case called twice. None appears at the assessee’s behest. He is accordingly proceeded ex-parte. 2. Delay of 482 days in filing of the assessee’s instant appeal is condoned in larger interest of justice and in light of Collector, Land & Acquisition vs. Mst. Katiji & Others

JAMALUDDIN S/O SHRI CHUNIR AHMED,GHAZIABAD vs. ITO WARD 1(3), GHAZIABAD

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

144 of the Act. When an estimate is made to the best judgment of an Assessing Officer, he substitutes the income that is to be computed under section 29 of the Act. Once the best judgment assessment is made by fixing a rate of net profit, the assessee's claim for deduction on account of expenses cannot be deemed

JAMALUDDIN, GHAZIABAD vs. ITO WARD-1(3), GHAZIABAD

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

144 of the Act. When an estimate is made to the best judgment of an Assessing Officer, he substitutes the income that is to be computed under section 29 of the Act. Once the best judgment assessment is made by fixing a rate of net profit, the assessee's claim for deduction on account of expenses cannot be deemed

PRINCIPAL COMMISSIONER OF INCOME TAX DELHI 10 vs. M/S DHADDA INTERNATIONAL

bogus purchase entries while sales have not been doubted. When sales are not doubted purchases alone cannot be disallowed at 100%. Making purchases through grey market gives the assessee benefits at the expense of exchequer. The assessee is engaged in the business of diamond trading. As per the report of task force of diamond sector constituted by Ministry of Commerce

ACIT, CIRCLE-7(1),DELHI, DELHI vs. EBERSPAECHER SUETRAK BUS CLIMATE CONTROL SYSTEMS INDIA PRIVATE LIMITED, DELHI

The Appeal of the appellant is partly allowed

144 of the\nAct was issued on 15.11.2016. Even then, no one appeared on behalf of the\nassessee. On the basis of the information available on record, the Assessing Officer\ncompleted the assessment by making substantial additions under section 68 of the\nAct in respect of share capital and trade creditors. The Assessing Officer further\ndisallowed current liabilities, various expenses