DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALAJEE MINI STEELS & REROLLING PRIVATE LIMITED , PATNA

In the result, the appeals of the Revenue are dismissed

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double taxation as the assessee

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double Balmukund Lease Fin Private Limited

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double Balmukund Lease Fin Private Limited

DCIT, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND CEMENT & ROOFINGS PRIVATE LIMITED , KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double Balmukund Lease Fin Private Limited

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double Balmukund Lease Fin Private Limited

GOPAL & SONS HUF,KOLKATA vs. I.T.O., WARD - 32(1), KOLKATA, KOLKATA

The appeal of the revenue is dismissed

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

10 of the assessment order. Further, it is observed that in case the purchases are excluded from the trading account, the corresponding sales would also have to be excluded. Hence, this exercise would reduce the income returned by the assessee. Therefore, it can be inferred that percentage disallowance of the purchases would amount to double Balmukund Lease Fin Private Limited

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD.,KOLKATA vs. DCIT, CC - 3(3),, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

D.C.I.T., CC - 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(1),, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD., ,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), KOLKATA

Appeals of the assessee are partly allowed and\nappeals of the revenue are dismissed

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

M/S. SHAKAMBHARI ISPAT & POWER LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3), , KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3.1, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

DEPUTY COMMISSIONER OF INCOME TAX, KOLKATA vs. SHAKAMBHARI ISPAT & POWER LIMITED, KOLKATA

bogus purchases has no\nlegs to stand. Moreover we find that the coal manufacturing requirement\nof the plant are within the acceptable norms and parameters as has been\nprescribed by the government in the manufacturing process of steel. Even if we\nassume that there has been purchase of coal from the Majee Group, then\nthe same might have used

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND SPONGE AND IRON PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

10 of\nthe assessment order. Further, it is observed that in case the purchases are excluded\nfrom the trading account, the corresponding sales would also have to be excluded.\nHence, this exercise would reduce the income returned by the assessee. Therefore, it\ncan be inferred that percentage disallowance of the purchases would amount to double\nPage 13\ntaxation