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3 results for “bogus purchases”+ Section 269Tclear

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Bangalore11Visakhapatnam8Indore5Mumbai3Delhi2Ahmedabad2Cuttack2Pune2Chandigarh2Nagpur1Jaipur1Dehradun1

Key Topics

Section 271E4Section 269T4Penalty2Addition to Income2

MITA HOLDINGS PVT. LTD.,MUMBAI vs. ADDLL. CIT - CC - 3, MUMBAI

In the result, appeal of the assessee is allowed

ITA 1817/MUM/2019[2014-15]Status: DisposedITAT Mumbai20 Apr 2023AY 2014-15
Section 269TSection 271E

purchases. For the years relevant to A Ys 2007-08, 2009-10 and 2010- 11, the said lender offered undisclosed income of Rs. 55.73 lakhs in response to notices issued u/s 1534. Since, there was no compliance in course of the search related assessment proceedings, the AO adopted a profit margin of 2.19% as disclosed in the case

SHRI ANAND M GUPTA,LUCKNOW vs. ITO - 15(1)(4), MUMBAI

ITA 2948/MUM/2019[2014-15]Status: DisposedITAT Mumbai20 Mar 2023AY 2014-15

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleestate Of Shri Anand M. Gupta V. Income Tax Officer – 15(1)(4) Aayakar Bhavan, M.K. Road {Through Legal Heir Mumbai - 400020 Mrs. Madhu Anand Gupta} B-723, Sector – C Mahanagar, Lucknow – 226006 Uttar Pradesh Pan: Aabae8078Q (Appellant) (Respondent) Assessee Represented By : Shri Malav Sheth Shri Ashish Kumar Department Represented By :

Section 10(38)Section 143(1)Section 143(2)Section 69

bogus capital gains from transaction of sale and purchase of shares of S Investment and Consultancy Limited which was penny stock company and pre-dated contract notes were issued by the brokers to manipulate and introduce long-term capital gains in favour of the assessee, therefore, the said capital gains were added under section 68 as unexplained cash credits

DT INTERIORS PVT LTD.,MUMBAI vs. ITO -12(2)(4), MUMBAI

Appeal is allowed for statistical purposes

ITA 2054/MUM/2023[2010-11]Status: DisposedITAT Mumbai29 Nov 2023AY 2010-11
For Appellant: Shri Tarang SukhadiaFor Respondent: Shri Rajendra Chandekar
Section 143(3)Section 147Section 194Section 269T

bogus expenditure on account of purchases made by the appellant from five parties. (ii) Without prejudice to what has been stated above, CIT(A) ought to have restricted disallowance to 8% of Rs.1,20,69,194/- as has been done by him while considering grounds of appeal for Assessment Year 2011-12. b) CIT(A) ought to have deleted addition