M/S. SHRI GEMS,NEW DELHI vs. ITO, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. N. K. Sainiita No. 2912/Del/2014 : Asstt. Year : 2007-08 Shri Gems, Vs Income Tax Officer, 10/2441, Beadonpura, Karol Bagh, Ward-33(2), New Delhi New Delhi (Appellant) (Respondent) Pan No. Abcfs2245L Assessee By : Smt. Rano Jain, Adv. & Sh. Ashish Goel, Adv. Revenue By : Sh. T. Vasanthan, Sr. Dr Date Of Hearing : 21.09.2017 Date Of Pronouncement : 20.12.2017 Order This Is An Appeal By The Assessee Against The Order Dated 12.02.2014 Of Ld. Cit(A)-28, New Delhi.

bogus purchases under section 69C of Act. (ii) That the above said addition has been confirmed by the Ld. CIT (A) without bringing any material or evidence on record to apply the said rate of commission. 5. (i) On the facts and circumstances of the case, the learned CIT (A) has erred both on facts and in law .in confirming

MAGNOLIA MARTINIQUE CLOTHING PRIVATE LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE 17, NEW DELHI, DELHI

In the result, all the appeals filed by the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri S.Rifaur Rahman

bogus purchases without identifying any suppression of income, excess stock or creation of assets, contrary to settled judicial precedents. 7. The CIT (A) erred in affirming disallowance of purchases from M/s. Garnet Textiles Pvt. Ltd. and M/s. Clarissa Fabrics Pvt. Ltd. ignoring that payments were made by account payee cheques, entries were reflected in stock registers, and materials were used

MAGNOLIA MARTINIQUE CLOTHING PRIVATE LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE-17, NEW DELHI, DELHI

In the result, all the appeals filed by the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri S.Rifaur Rahman

bogus purchases without identifying any suppression of income, excess stock or creation of assets, contrary to settled judicial precedents. 7. The CIT (A) erred in affirming disallowance of purchases from M/s. Garnet Textiles Pvt. Ltd. and M/s. Clarissa Fabrics Pvt. Ltd. ignoring that payments were made by account payee cheques, entries were reflected in stock registers, and materials were used

MAGNOLIA MARTINIQUE CLOTHING PRIVATE LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE 17, NEW DELHI, DELHI

In the result, all the appeals filed by the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri S.Rifaur Rahman

bogus purchases without identifying any suppression of income, excess stock or creation of assets, contrary to settled judicial precedents. 7. The CIT (A) erred in affirming disallowance of purchases from M/s. Garnet Textiles Pvt. Ltd. and M/s. Clarissa Fabrics Pvt. Ltd. ignoring that payments were made by account payee cheques, entries were reflected in stock registers, and materials were used

MAGNOLIA MARTINIQUE CLOTHING PRIVATE LIMITED,DELHI vs. DCIT, CENTRAL CIRCLE 17, NEW DELHI, DELHI

In the result, all the appeals filed by the assessee are partly allowed

Bench: Shri Satbeer Singh Godara & Shri S.Rifaur Rahman

bogus purchases without identifying any suppression of income, excess stock or creation of assets, contrary to settled judicial precedents. 7. The CIT (A) erred in affirming disallowance of purchases from M/s. Garnet Textiles Pvt. Ltd. and M/s. Clarissa Fabrics Pvt. Ltd. ignoring that payments were made by account payee cheques, entries were reflected in stock registers, and materials were used

S.C., JOHNSON PVT. LTD.,GURGAON vs. ADDI. CIT SPECIAL RANGE-8, NEW DELHI

Purchase\nmethod\" is a permissible method of accounting in cases of merger of\nwholly owned subsidiary under Accounting Standard-14 (\"AS\") and\nthe goodwill so computed in accordance has to amortize as disclosed\nin Scheme of Amalgamation read with AS-14.\n\n3.5 That the Ld. CIT(A) erred in upholding the alternative addition made

GOLD SPICE IMPEX,DELHI vs. INCOME TAX OFFICER, WARD-47(2), DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumarm/S. Gold Spice Impex, Vs. Ito, Ward 47 (2), 1879, Kucha Chelian, Khari Boali, Delhi. Delhi – 110 006. (Pan : Aapfg0688P) (Appellant) (Respondent) Assessee By :Shri Rakesh Gupta, Advocate Shri Deepesh Garg, Advocate Revenue By : Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing : 26.08.2025 Date Of Order : 21.11.2025 O R D E R Per S. Rifaur Rahman: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [“Ld. Cit(A)”, For Short] Dated 17.01.2024 For The Assessment Year 2017-18 Raising Following Grounds Of Appeal :- “1. That Having Regard To The Facts & Circumstances Of The Case, Ld. Cit(A) Has Erred In Law & On Facts In Confirming The Action Of Ld. Ao In Making Aggregate Addition Of Rs.1,15,00,000/- On Account Of Cash Deposits U/S 68 & Taxing The Same U/S 115Bbe & That Too By Recording Incorrect Facts & Findings & Without Following The Principles Of Natural Justice.

234D of Income Tax Act, 1961.” 2. The assessee has raised solitary issue of addition made under section 68 of the Income-tax Act, 1961 (for short ‘the Act’) and taxing the same u/s 115BBE of the Act. The relevant facts of the issues raised by the assessee are, assessee filed its return of income

ALEXIS GLOBAL PRIVATE LIMITED,NEW DELHI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(2), DELHI, DELHI

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR KUMAR (Judicial Member)

234D of the Act. 10. That the grounds of appeal are independent and without prejudice to each other.” 7. At the time of hearing, the Ld. AR submitted elaborately before us and also filed a written submissions, which is reproduced as under:- “1.SOURCE ESTABLISHED AS PAYMENTS DULY RECORDED IN BOOKS OF ACCOUNT AND MADE THROUGH BANKING CHANNEL OUT OF FUNDS

ACIT, MEERUT vs. M/S. SPACE AGE RESEARCH & TECHNOLOGY FOUNDATION CHARITABLE TRUST, MEERUT

In the result Ground No. 1 and 3 of the appeal of the revenue is allowed and ground No

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiacit, Space Age Research & Vs. Circle-2, Meerut Technology Foundation, Charitable Trust, Railway Road, Meerut Pan: Aabts7321M (Appellant) (Respondent)

Purchases. Perusal of above shows that the assessee has made bogus entries for payment to contractors in his books of account. It is clearly shows that the management of M/s Space Age Research & Charitable Trust, Meerut is siphoning the found of the society by misappropriation of accounts by way of making advance payment under the head of construction of buildings

MS. UMA GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

AMIT GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

MS. UMA GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

UMA GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

VIBHA GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

AMIT GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

MR. SURENDER GUPTA,,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

VIBHA GUPTA,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground

MR. SURENDER GUPTA,,NEW DELHI vs. ACIT, NEW DELHI

The appeals stand allowed for

Section 234D of the Income Tax Act despite the fact that said provisions are not applicable. Thus, order of the learned CIT (A), passed merely on surmises and conjecture should be reversed. ITA Nos.3819 to 3828/Del/2016 Sh. Amit Gupta & Ors. vs. ACIT 4. The appellant craves the leave to add, substitute, modify, delete or amend all or any ground