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

120/-, and “book profit” under\nSection 115JB of the Act of Rs. 230,21,15,364/-. Subsequently, the\ncase of the assessee company was selected for complete scrutiny\nunder the E-assessment Scheme, 2019, on various issues, viz.\nbusiness purchases, deduction claimed under section 801A, and\nexpenses incurred for earning exempt income.\n33. Thereafter, the AO vide his order passed

DCIT., CIRCLE-2(1), HYDRABAD vs. KALPTARU INVESTMENTS PRIVATE LIMITED, HYDERABAD

In the result, appeal ITA

bogus claim of the\n\n13\nITA.No.1077/Hyd./2025\nassessee from the reverse and circular transactions carried\nout by the assessee. The assessee carried out premeditated\nand circularised transactions with the sole purpose of\ngenerating artificial/bogus profit/loss to the respective\nparties. The learned DR further submitted that when a\nspecific and reliable information relevant for assessment of\nincome

RACHIT V SHAH,HYDERABAD vs. ITO, WARD-7(3), HYDERABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

Bogus Evidence, A voiding Payment of Taxes. It was better for the learned assessing officer to go through the files of the above mentioned assessee(s) before using such terms. Thirdly, we would like to draw your honours kind attention to the following case laws: A. The Apex Court in Union of India vs. Azadi Bachao Andolan (2003) 177 Taxation