AMIT KUMAR,DELHI vs. INCOME TAX OFFICER, WARD 1(1), GUWAHATI, INCOME TAX OFFICER

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

bogus and raw material supplier was non-existent, then the issue whether the purchases were made from some other parties, was irrelevant and the said payment was be treated as income from undisclosed sources. In the case of Kanak Impex (India) Ltd (supra), the Hon'ble Bombay High Court, also did not accept the submission of the assessee that

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

JAYANTA KHAUND,GUWAHATI vs. ACIT CIR-1, GUWAHATI

In the result, the appeals filed by the assessee in ITA Nos

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus purchases (liability shown as Sundry Creditors) and further enhancement of Rs. 6,80,71,300/- u/s 41(1) read with section 251(2) of the Act. While enhancing the addition the Ld. CIT(A) had given the following directions: “Further, in view of the fact that the Appellant could not furnish Bills and Vouchers both during the course

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. ACIT, CENTRAL CIRCLE-1, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

bogus and unsecured loans was also disallowed and a sum of Rs. 47,10,000/- was also added to the income and the assessment was made accordingly. 3.1. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A) who considered the submissions of the assessee I.T.A. Nos.: 110 to 118/GTY/2024 Assessment Years

DEPUTY COMMISSIONER OF INCOME TAX. CIRCLE-AGARTALA, AGARTALA vs. SHRI SATYAJIT SAHA, AGARTALA

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

section 69 is not at all applicable in the instant case. In my considered view, when asset of an assessee is found to be of lesser value then the value disclosed by him in the books of account then in such a situation neither there is any reason or logic for increasing the income of the assessee by the differential