RAM GOPAL,HYDERABAD vs. ITO, WARD-8(2), HYDERABAD

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

Bench: Shri R.K. Panda & Shri Laliet Kumar

business activities but provide accommodation entries to interested parties for bogus purchase, reopened the assessment and in the order passed u/s 143(3) r.w.s. 147 made addition of Rs.25,63,834/- as bogus purchases. We find in appeal, the learned CIT (A) restricted such addition to 25% of the bogus purchases by relying on various decisions, reasons of which have

INCOME TAX OFFICER, WARD-11(1), HYDERABAD, KONDAPUR HYDERABAD vs. SANGAM WIRES, KALABURAGI

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

business of trading in finished fabrics. The Assessing Officer held that purchases worth Rs. 40,69,546 were unexplained and disallowed the expenditure claimed by the assessee and computed the total income of Rs. 41,10,187. In so far as the question of bogus

SANGAM WIRES,HYDERABAD vs. ITO., WARD-11(1), HYDERABAD

In the result, appeal filed by the Revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyआ.अपी.सं /Ita No.356/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Sangam Wires Vs. Income Tax Officer Hyderabad Ward 11(1 Pan:Acnfs5309K Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.371/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2021-22) Income Tax Officer Vs. Sangam Wires Ward 11(1 Hyderabad Hyderabad Pan:Acnfs5309K (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M Chandramouleswara Rao, Ca राज" व "ारा/Revenue By:: Smt. T.H Vijaya Lakshmi,Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 20/03/2024 घोषणा की तारीख/Pronouncement: 08/04/2024 आदेश/Order

business of trading in finished fabrics. The Assessing Officer held that purchases worth Rs. 40,69,546 were unexplained and disallowed the expenditure claimed by the assessee and computed the total income of Rs. 41,10,187. In so far as the question of bogus

MAHALAKSHMI LABORATORIES PRIVATE LIMITED,HYDERABAD vs. ITO, WARD-17(1), HYDERABAD

In the result, the appeal of Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

business profits. On appeal to the High Court : Held, dismissing the appeal, the Commissioner (Appeals) believed that the purchases were not bogus but were made from the parties other than those mentioned in the books of account. That being the position, not the entire purchase price but only the profit element embedded in such purchases could be added

INCOME TAX OFFICER, WARD 17(1), HYDERABAD vs. MAHALAKSHMI LABORATORIES PVT LTD, HYDERABAD

In the result, the appeal of Revenue is dismissed

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

business profits. On appeal to the High Court : Held, dismissing the appeal, the Commissioner (Appeals) believed that the purchases were not bogus but were made from the parties other than those mentioned in the books of account. That being the position, not the entire purchase price but only the profit element embedded in such purchases could be added

DCIT., CIRCLE 3(1), HYDERABAD vs. ROHINI MINERALS PRIVATE LIMITED, HYDERABAD

In the result, all the three appeals filed by the Revenue for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.980/Hyd/2024, 1079/Hyd/2024 & 1080/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19, 2014-15 & 2015-16) Dcit Vs. M/S Rohini Minerals Circle-3(1) Private Limited Hyderabad Hyderabad [Pan :Aaccr0773N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.K.Gupta, Ar रधजस् व द्वधरध/Revenue By: Shri B Bala Krishna, Cit-Dr Shri Srinath Sadanala, Sr.Ar

business activity and only issues bogus bills for commission. Therefore, observed that the purchases claimed to have been made from M/s Jagannath Agro Ltd. is bogus in nature and thus rejected the arguments of the assessee and made addition of Rs. 2,36,00,792/- to the total income

DCIT., CIRCLE 3(1), HYDERABAD vs. ROHINI MINERALS PRIVATE LIMITED , HYDERABAD

In the result, all the three appeals filed by the Revenue for the A

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.980/Hyd/2024, 1079/Hyd/2024 & 1080/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19, 2014-15 & 2015-16) Dcit Vs. M/S Rohini Minerals Circle-3(1) Private Limited Hyderabad Hyderabad [Pan :Aaccr0773N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri S.K.Gupta, Ar रधजस् व द्वधरध/Revenue By: Shri B Bala Krishna, Cit-Dr Shri Srinath Sadanala, Sr.Ar

business activity and only issues bogus bills for commission. Therefore, observed that the purchases claimed to have been made from M/s Jagannath Agro Ltd. is bogus in nature and thus rejected the arguments of the assessee and made addition of Rs. 2,36,00,792/- to the total income

AMARAVATI ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

business along with required documents. Subsequently, after conducting the hearings, the Assessing Officer completed the assessment u/s 143(3) r.w.s. 147 of the Act vide order dt.25.03.2015 determining the total income at Rs.2,43,76,665/-. While doing the so, the Assessing Officer treated a sum of Rs.2,29,56,125/- as expenditure claimed towards bogus purchases

AMARAVATI ,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

business along with required documents. Subsequently, after conducting the hearings, the Assessing Officer completed the assessment u/s 143(3) r.w.s. 147 of the Act vide order dt.25.03.2015 determining the total income at Rs.2,43,76,665/-. While doing the so, the Assessing Officer treated a sum of Rs.2,29,56,125/- as expenditure claimed towards bogus purchases

AMARAVATI ,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

business along with required documents. Subsequently, after conducting the hearings, the Assessing Officer completed the assessment u/s 143(3) r.w.s. 147 of the Act vide order dt.25.03.2015 determining the total income at Rs.2,43,76,665/-. While doing the so, the Assessing Officer treated a sum of Rs.2,29,56,125/- as expenditure claimed towards bogus purchases

AMARAVATI,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

In the result, the appeal of the assessee in ITA

Bench: Shri R.K. Panda & Shri Laliet Kumar

business along with required documents. Subsequently, after conducting the hearings, the Assessing Officer completed the assessment u/s 143(3) r.w.s. 147 of the Act vide order dt.25.03.2015 determining the total income at Rs.2,43,76,665/-. While doing the so, the Assessing Officer treated a sum of Rs.2,29,56,125/- as expenditure claimed towards bogus purchases

BASANTH LAL SAH,HYDERABAD vs. ITO., WARD-11(1), HYDERABAD

Bench: Us :

business returns of income i.e. ITRs 1 and 2, or had reflected a substantially lower turnover in their Income-tax returns. 3. During the course of assessment proceedings, the A.O. observed that the assessee in the year had made huge purchases from various agencies. On a perusal of the details, the A.O. 4 Basanth Lal Sah. observed that the assessee

DCIT., CIRCLE 3(1), HYDERABAD vs. ROHINI MINERALS PRIVATE LIMITED, HYDERABAD

In the result, all the three appeals filed by the Revenue for\nthe A

business of\nproduction and sale of poultry feeds. The assessee has filed its\nreturn of income for the A.Y.2014-15 on 30.09.2014, declaring\ntotal income of Rs.9,08,72,987/-. The assessment has been\nsubsequently, reopened u/s 147 of the Income Tax Act, 1961\n(\"the Act\") for the reasons recorded, as per which, the\ninformation available with the department reveals

REEMA AGARWAL,HYDERABAD vs. ACIT, CENTRAL CIRCLE-2(3), HYDERABAD

In the result, appeal of the Assessee is allowed

bogus business loss and set\noff the same against regular business income. He has relied\nupon the Orders of the authorities below and submitted that\nthe sole motive of doing the transaction of purchase

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

purchase bills, transportation bills, confirmed copy of accounts and the fact of payment through cheques, & VAT Registration of the sellers & their Income Tax Return\". From the documentary evidences in the form of sale invoices, sales register, ledger extracts and bank statements submitted during the assessment and appeal proceedings it is apparent that sales receipts from M/s Lakshin Infradev

MUSADDILAL JEWELLERS PRIVATE LIMITED ,HYDERABAD vs. ACIT, CIRCLE-16(2), HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Shri Laliet Kumar, Hon’Ble & Shri Madhusudan Sawdia, Hon’Bleआयकर अपील सं./ I.T.A. No.272/Hyd/2023 ("नधा"रण वष" / Assessment Year:2013-14) Musaddilal Jewellers Private Vs. Acit, Limited, Circle-16(2), Hyderabad. Hyderabad. Pan: Aaecm1213A (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ" क" ओर से/ Appellant By : Ca Bhupesh Kumar Dand ""याथ" क" ओर से / Respondent By : Shri Rahul Singhania, Dr

bogus purchase of untenable reasons. 3. Any other ground/s that may be urged at the time of hearing.” 3. The Brief facts of the case are that the assessee-company is engaged in the business of jewellery making and trading, filed its return of income

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

purchase bills, transportation bills, confirmed\ncopy of accounts and the fact of payment through cheques, & VAT\nRegistration of the sellers & their Income Tax Return\". From the\ndocumentary evidences in the form of sale invoices, sales register,\nledger extracts and bank statements submitted during the assessment\nand appeal proceedings it is apparent that sales receipts from M/s\nLakshin Infradev

KANISHKA GUPTA,,HYDERABAD vs. ACIT CENTRAL CIRCLE-3(1), HYDERABAD

In the result, all the appeals of assessees are dismissed

Bench: Shri R.K. Panda & Shri Laliet Kumar

business income in the hands of the firm and further taxed by the Assessing Officer in the hands of the firm as unexplained credit, does not become a bonafide source in the hands of the appellants. The appellants are trying to escape taxation through a manufactured story and that does not entitle them to a right of telescoping of unexplained