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

Sections 68 and 69C of the Income Tax Act. The entire purchases shown on the basis of fictitious invoices have been debited in the trading account since the transaction has been found to be bogus. The Tribunal having once come to a categorical finding that the amount of Rs. 2,92,93,288/- represented alleged purchases from bogus suppliers

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

Section 133(6) were sent to 4 Mahalakshmi Laboratories Pvt. Ltd. various suppliers. Further, notice u/s 142(1) of the Act along with questionnaire was issued on 26.07.2022. After availing various opportunities, finally assessee had responded to the notices with the required details. Assessing Officer after verification of the reply submitted by the assessee found that the assessee had taken

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

Section 133(6) were sent to 4 Mahalakshmi Laboratories Pvt. Ltd. various suppliers. Further, notice u/s 142(1) of the Act along with questionnaire was issued on 26.07.2022. After availing various opportunities, finally assessee had responded to the notices with the required details. Assessing Officer after verification of the reply submitted by the assessee found that the assessee had taken

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

bogus purchases. Hon’ble Gujarat High Court in the case of Krishna Textiles Vs. CIT [2008] 174 Taxman 372 [2009] held that, the onus was on the revenue to prove that the income belongs to the assessee. The AO in this case did not doubt the sales, stock record maintained by the assessee. In the absence of any contrary finding

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

bogus purchases. Hon’ble Gujarat High Court in the case of Krishna Textiles Vs. CIT [2008] 174 Taxman 372 [2009] held that, the onus was on the revenue to prove that the income belongs to the assessee. The AO in this case did not doubt the sales, stock record maintained by the assessee. In the absence of any contrary finding

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

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

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

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

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

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

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

section 148 of the Income Tax Act 1961('the Act') were not satisfied and therefore, the order of the Ld.CIT (A) upholding the initiation of reassessment proceedings as valid is erroneous, invalid and unsustainable in law. 2. The Ld.CIT (A) failed to appreciate that the reassessment proceedings and recording of reasons emanated from the report of the Investigation wing

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

Bench: Us :

bogus. In reply, the assessee, in order to substantiate the authenticity of the subject purchase transactions, filed the copies of invoices and e-way bills for the purchases made from the aforementioned parties. Apart from that, the assessee submitted that the purchases from the party stated at Serial No. 3, viz., Sri Suresh, Proprietor of M/s. SAM Traders, amounted

BS LIMITED,HYDERABAD vs. ASST.COMISSIONER OF INCOME TAX, CIRCLE-2(3), HYDERABAD

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Shri D. Manmohan & Shri S. Rifaur Rahmanassessment Year: 2013-14

bogus. 3.15.2. Erred in making proportionate disallowance of interest without appreciating the fact that the assessee has already offered profit and paid tax on the related purchases which is higher than certain percentage of the above expenditure which could have disallowed. 3.15.3. Ought to have appreciated the fact that the VAT/Service tax obligations have been duly complied with by assessee

MEENA JEWELS AND PEARLS,HYDERABAD vs. ACIT., CIRCLE-5(1), HYDERABAD

In the result, appeal of the Assessee is allowed

12 ITA.No. 1225/Hyd./2024 2019 vide Order dated 22.01.2020 has against considered this issue of purchases made by the assessee from KIPL and held that the addition made by the Assessing Officer based on statement of Sri Rajendra Jain group is highly arbitrary. As regards the Judgments relied upon by the learned DR are concerned, there is no quarrel

MUSADDILALS JEWELLERS (INDIA) PRIVATE LIMITED.,HYDERABAD. vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-16(2)., HYDERABAD

In the result, appeal of the assessee is allowed

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Musaddilals Jewellers (India) Vs. Asst. Commissioner Of Pvt. Ltd., Hyderabad. Income-Tax, Circle – 16(2), Hyderabad. Pan – Aafcm 4841 H

12. Ramlila Pravin Shah, ITA No. 5246/Mum/2013. Dt. 05/03/2015. 6. Ld. DR relied on the order of CIT(A) and submitted that AO has elaborately discussed the issue in his report. 7. Considered the rival submissions and perused the material on record. We notice that AO has disallowed the purchases merely based on the information from Investigation Wing without making

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

12. Explanation-2 to section 37(1) of the Act says that any expenditure relatable to the discharge of CSR, is not a business expenditure and cannot be allowed as such. On this aspect, there is no contradiction of the fact submitted by the learned AR that in compliance with this requirement, the assessee does not claim any deduction

SURYA PRABHA SUNKAVALLI,HYDERABAD vs. INCOME TAX OFFICER, WARD-14(3), HYDERABAD

In the result, appeal of the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

bogus purchases then the profit has to be estimated. In PCIT Vs. M/s.Paramshakti Distributors Pvt. Ltd., in Income Tax Appeal No.413 of 2017 on the file of the Hon'ble Bombay High Court the Revenue has not rejected the instances of purchases by accepting the sales, it was proper to tax the profit embedded in such purchases. In ACIT

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

In the result, the appeal of Revenue is dismissed

Bench: Shri Laliet Kumar, Hon’Ble & Shri G. Manjunatha, Hon’Bleassessment Year: 2022-23 The Deputy Commissioner Of Vs. Rohini Minerals Private Limited, Income Tax, Hyderabad. Circle 3(1), Hyderabad. Pan : Aaccr0773N (Assessee) (Respondent) Assessee By: Shri S.K. Gupta, Advocate. Revenue By: Shri B. Bala Krishna, Cit-Dr 05.02.2025 Date Of Hearing: Date Of Pronouncement: 24.02.2025

bogus purchases from the related party, but the LD.CIT(A) deleted the addition made by the Assessing Officer by accepting the explanation of the assessee. Therefore, he submitted that the addition made by the Assessing Officer should be sustained. 8. The learned counsel for the assessee, Shri S.K. Gupta, Advocate, on the other hand, supporting the order of LD.CIT

R.K.INFRACORP PRIVATE LIMITED,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(4), HYDERABAD

bogus purchases in its books of accounts. The\nAO, based on his aforesaid observations, which though were explicitly\nrecorded only in context of the aforementioned three entries, however\ndrew adverse inferences with respect to 24 entries mentioned in the\nseized document, viz., Annexure A-1/Pages 01-02 and made an addition\nof Rs.20,35,50,000/- by treating

ACIT., CENTRAL CIRCLE-2(4), HYDERABAD vs. R.K.INFRACORP PRIVATE LIMITED, HYDERABAD

bogus purchases in its books of accounts. The\nAO, based on his aforesaid observations, which though were explicitly\nrecorded only in context of the aforementioned three entries, however\ndrew adverse inferences with respect to 24 entries mentioned in the\nseized document, viz., Annexure A-1/Pages 01-02 and made an addition\nof Rs.20,35,50,000/- by treating