Search: bogus purchases

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Section 153C5 Section 2633 Section 153A(1)3 Section 153C(1)2 Section 142(1)2

SHRI NITIN SHARMA,JABALPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -2, JABALPUR

In the result, the appeal is partly allowed

ITA 25/JAB/2019[2014-15]Status: DisposedITAT Jabalpur28 Sept 2020AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Sanjay Arora

Section 132(4)Section 142(1)Section 143(2)Section 143(3)Section 153A(1)Section 153CSection 153C(1)Section 153DSection 263Section 7(1)

271E, or not, i.e., through the banking channel; the transaction being regarded as not genuine. Why, one may ask, would any person give ‘loan’ to such a person, i.e., knowing fully well that the latter does not have the capacity to repay? And, besides, for purchase of a number of plots of land, as in the present case? Implicit