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

price, as such, profit on this account was returned in the books of accounts. The assessing officer added 25% of the bogus purchases booked by the assessee but ignored the sales booked to the fictitious parties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on the ground that in case the bogus purchases are disallowed then

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

price, as such, profit on this account was returned in the books of accounts. The assessing officer added 25% of the bogus purchases booked by the assessee but ignored the sales booked to the fictitious parties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on the ground that in case the bogus purchases are disallowed then

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

price, as such, profit on this account was returned in the books of accounts. The assessing officer added 25% of the bogus purchases booked by the assessee but ignored the sales booked to the fictitious parties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on the ground that in case the bogus purchases are disallowed then

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

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

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

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

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

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

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

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

DCIT CENTRAL CIRCLE-4(3), KOLKATA, KOLKATA vs. BALMUKUND LEASE FIN PRIVATE LIMITED, PATNA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

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

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

BALMUKUND SPONGE & IRON PVT. LTD.,,PATNA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

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

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

BALMUKUND CEMENT & ROOFINGS PVT. LTD.,,KOLKATA vs. DCIT, CENTRAL CIRCLE 4(3),, KOLKATA

The appeal of the Revenue is dismissed

price, as such, profit on this account\nwas returned in the books of accounts. The assessing officer added 25% of the bogus\npurchases booked by the assessee but ignored the sales booked to the fictitious\nparties. Hon'ble Tribunal deleted the addition made on account of bogus purchases on\nthe ground that in case the bogus purchases are disallowed then

THE INDRA COMPANY LIMITED(AS SAUMYA TRADE & FISCAL SERVICES P. LTD. MERGED INTO THE INDRA CO. LTD.),KOLKATA vs. I.T.O., WARD - 12(3),, KOLKATA

In the result, the appeal of the assessee is partly allowed for\nstatistical purposes

bogus and the order of the Ld. CIT(A) confirming\nthe transaction subject to re-computation of the loss is upheld and the\nappeal of the assessee is dismissed.\n13. However, in the course of appeal, the assessee submitted that the\nshares of the promoters were transferred for a consideration which\nappears to be low because the purchaser was investing

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

price of the alleged two companies, he finally observed that the trading loss of ₹27,22,778/- and ₹13,73,451/- incurred by the assessee in stock trading of BCSL and CCLII respectively, is bogus and total of these two losses i.e. ₹40,96,229/- deserves to be disallowed. Accordingly, income of the assessee assessed

MEGAPODE VYAPAAR PVT. LTD.,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, both the appeals of the assessee in ITA Nos

Bench: Dr. Manish Borad, Am & Shri Sonjoy Sarma, Jm

price of the alleged two companies, he finally observed that the trading loss of ₹27,22,778/- and ₹13,73,451/- incurred by the assessee in stock trading of BCSL and CCLII respectively, is bogus and total of these two losses i.e. ₹40,96,229/- deserves to be disallowed. Accordingly, income of the assessee assessed