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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these were only done in order

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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these 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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these 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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these 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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these 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

38,23,767/- and M/s Steel Centre of ₹10,78,87,644/-. The ld. AO discussed in detail the facts qua these parties and entry operators involved in providing accommodation entries. The ld. AO also noted that the entire purchases and sales were done through same commission agents and these were accommodation entries and these Balmukund Lease Fin Private Limited

OM FORGING & ENGINEERING PRIVATE LIMITED,KOLKATA vs. THE PR. CIT-1, KOLKATA, KOLKATA

In the result the appeals are allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

38 taxrnann.com 402 (Guj) - The High Court of Gujarat held that where purchase of raw material was not made from party from whom assessee claimed but such material was purchased from open market incurring cash payment, only profit element of such purchases and not entire purchases was to be added to income of assessee. 10. With regard to the allegation

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered

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

10 above, the entire\naddition made by AO in such respect is without allowing cross\nexamination of the third party so involved and such action of\nAO & CIT(A) is bad in law and it may be held accordingly.\n12. Without prejudice to Grounds No. 6 to 11 above, the rate of\ngross profit so considered