DCIT CC-7(2), MUMBAI, MUMBAI vs. MAN INDUSTRIES (I) LTD., MUMBAI

In the result, both the both the appeal of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

271(1)(c) of the Act levied based on estimated addition of the Act levied based on estimated addition of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is directed to delete the penalty. The grounds of appeals are directed to delete

DCIT CC 7(2), MUMBAI, MUMBAI vs. M/S MAN INDUSTRIES (INDIA) LIMITED, MUMBAI

In the result, both the both the appeal of the Revenue are dismissed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

271(1)(c) of the Act levied based on estimated addition of the Act levied based on estimated addition of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is of bogus purchases is unsustainable. The assessing officer is directed to delete the penalty. The grounds of appeals are directed to delete

DEPUTY COMMISSIONER OF INCOME TAX -23(1) , MUMBAI vs. KALPSARU DIAMONDS, MUMBAI

In the result, the grounds raised by the assessee as well as In the result, the grounds raised by the assessee as well as Revenue are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Years: 2012-13 Kalpsaru Diamonds, Acit 23(2), Jw 8040/250, Bharat Diamond Piramal Chambers, Vs. Bourse, Bkc, Bandra East, Mumbai-400013. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent Assessment Years: 2012-13 Dy. Cit-23(1), Kalpsaru Diamonds, Room No. 511, Fifth Floor, Jw 8040/250, Bharat Diamond Piramal Chambers, Parel, Vs. Bourse, Bkc, Bandra East, Lalbaugh-400012. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent

271(1)(c) of the Income Tax Act, 1961 is initiated for concealment of income. 1961 is initiated for concealment of income.” 4. On further appeal, the Ld. CIT(A) justified the reopening On further appeal, the Ld. CIT(A) justified the reopening On further appeal, the Ld. CIT(A) justified the reopening proceedings, however however restricted the disallowance

KALPSARU DIAMONDS ,MUMBAI vs. ACIT 23(2), MUMBAI

In the result, the grounds raised by the assessee as well as In the result, the grounds raised by the assessee as well as Revenue are allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Years: 2012-13 Kalpsaru Diamonds, Acit 23(2), Jw 8040/250, Bharat Diamond Piramal Chambers, Vs. Bourse, Bkc, Bandra East, Mumbai-400013. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent Assessment Years: 2012-13 Dy. Cit-23(1), Kalpsaru Diamonds, Room No. 511, Fifth Floor, Jw 8040/250, Bharat Diamond Piramal Chambers, Parel, Vs. Bourse, Bkc, Bandra East, Lalbaugh-400012. Mumbai-400051. Pan No. Aaafk 6960 H Appellant Respondent

271(1)(c) of the Income Tax Act, 1961 is initiated for concealment of income. 1961 is initiated for concealment of income.” 4. On further appeal, the Ld. CIT(A) justified the reopening On further appeal, the Ld. CIT(A) justified the reopening On further appeal, the Ld. CIT(A) justified the reopening proceedings, however however restricted the disallowance

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT 3(1)(1),MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD, MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

DCIT-3(1)(1), MUMBAI, MUMBAI vs. RELCON INFRAPROJECTS LTD., MUMBAI

Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

271(1)(c) of the Act observing that the addition in respect of alleged bogus purchases was sustained to the extent of 2% such purchases, and since the addition was sustained on estimate basis, Assessment Year 2014-2015 to 2019-2020 penalty under Section

HEMAL MAGANLAL SHAH,MUMBAI vs. CIT (A) NFAC, DELHI

In the result, appeal filed by the assessee is dismissed

Bench: Shri Aby T Varkey & Shri Gagan Goyalhemal Maganlal Shah 84, 4Th Floor, Pankaj-B, Lbs Road, Ghatkopar (W), Mumbai-400086. Pan: Amfps8271G ...... Appellant Vs. The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Mumbai. ..... Respondent Appellant By : Sh. H.M. Shah Respondent By : Sh. Prasoon Kabra Date Of Hearing : 17/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

bogus purchase penalty proceedings under section 274 r.w.s 271(1)(c) of the Act was also initiated on the issue

HYDROAIR TECTONICS (PCD) LTD,NAVI MUMBAI vs. DCIT CEN CIR 2(1), MUMBAI

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

bogus purchases and fictitious sales booked by the assessee in its books of account on the ground that although the assessee claims to have booked fictitious sales in its books of account in order to enhance sales turnover for the purpose of obtaining bank finance, but failed to file necessary evidence to prove that sales turnover booked in books

RAJKUMARI SINGH,NAVI MUMBAI vs. DCIT CEN CIR 8, MUMBAI

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

bogus purchases and fictitious sales booked by the assessee in its books of account on the ground that although the assessee claims to have booked fictitious sales in its books of account in order to enhance sales turnover for the purpose of obtaining bank finance, but failed to file necessary evidence to prove that sales turnover booked in books

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-5(1), MUMBAI vs. M/S SKYWAY INFRA PROJECTS PRIVATE LIMITED, MUMBAI

In the result, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, whereas appeals of the revenue are par...

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 & Assessment Year: 2014-15 & Assessment Year: 2015-16 & Assessment Year: 2016-17 & Assessment Year: 2017-18 & Assessment Year: 2018-19 & Assessment Year: 2019-20 & Assessment Year: 2020-21

section 101, 102 and 106 of the Evidence Act, 1, 102 and 106 of the Evidence Act, the onus lies upon the assessee to prove all the claims including the onus lies upon the assessee to prove all the claims including the onus lies upon the assessee to prove all the claims including purchases to the satisfaction

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

bogus purchases was available. Penalty order under Section 271 of the Act was passed by Income Tax Officer, Ward 19(1)(4), Bombay

DINESH SOMATMAL DHOKAR,MUMBAI vs. INCOME TAX OFFICER - 19(1)(1), MUMBAI

In the result, both the appeals are partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sunil Kumar Singh, Jm

bogus purchases was available. Penalty order under Section 271 of the Act was passed by Income Tax Officer, Ward 19(1)(4), Bombay

M/S. GURJAR GEMS PVT. LTD.,MUMBAI vs. ACIT, CIRCLE 9(3)(2), MUMBAI

In the result, the appeal of assessee is partly allowed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2012-13 M/S Gurjar Gems Pvt. Ltd., Acit, Circle 9(3)(2), Plot No. F-17 Midc, Marol Aayakar Bhavan, Industrial Area, Opp. Seepz, Vs. Maharshi Karve Road, Andheri (E), Chakala Midc S.O., Mumbai-400020. Mumbai-400093. Pan No. Aaacg 3685 L Appellant Respondent Assessee By : Mr. Ravikant Pathak, Ar Revenue By : Mr. Milind S. Chavan, Dr : Date Of Hearing 24/03/2023 : Date Of Pronouncement 31/03/2023 Order

bogus purchases shall be restricted to a reasonable amount. reasonable amount. 4. The AO erred in initiating penalty proceeding w/s 4. The AO erred in initiating penalty proceeding w/s 4. The AO erred in initiating penalty proceeding w/s 271(1)(c) of the I. T. Act.Your Appellant craves leave to 271(1)(c) of the I. T. Act.Your Appellant craves

INCOME TAX OFFICER- 23(3)(1), MUMBAI, MUMBAI vs. TISYA JEWELS, MUMBAI

In the result, both the appeals of the Revenue are accordingly partly allowed

Bench: Shri Om Prakash Kant () & Shri Anikesh Banerjee () Assessment Year: 2007-08 & Assessment Year: 2012-13 Income Tax Officer- 23(3)(1), Tisya Jewels Mumbai G-2 Sagar Fortune, 184 525A, 5Th Floor, Piramal Chambers, Vs. Waterfield Road, Bandra West, Parel, Mumbai-400012 Mumbai- 400050 Pan No. Aadft 8056 G Appellant Respondent Assessee By : Mr. Nishit Gandhi A/W Ms. Aadnya Bhandari Revenue By : Mr. Hemanshu Joshi, Cit-Dr

bogus purchases. From these facts, it is very clear that the AO failed to make a case of deliberate attempt by the assessee to furnish Inaccurate particulars of income. Therefore, we are of the considered view that mere disallowance of purchases on adhoc basis does not tantamount to willful furnishing inaccurate particulars of Income within the meaning of section 271