RAJNISH BHARTI HUF,MUMBAI vs. THE INCOME TAX OFFICER 20(3)(1), MUMBAI, LALBAUG, MUMBAI

In the result, both the appeals of the In the result, both the appeals of the assessee are dismissed assessee are dismissed whereas appeals of the Revenue are allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

bogus purchases as well as unexplained deposits, the assessee is in appeal whereas in respect of relief granted in appeal whereas in respect of relief granted on on unexplained deposit in the bank, the Revenue is in appeal. the Revenue is in appeal. 4.1 We have heard rival submissions and material placed on We have heard rival submissions and material

RAJNISH BHARTI HUF,MUMBAI vs. THE INCOME TAX OFFICER 20(3)(1), MUMBAI , LALBAUG, MUMBAI

In the result, both the appeals of the In the result, both the appeals of the assessee are dismissed assessee are dismissed whereas appeals of the Revenue are allowed

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh ()

bogus purchases as well as unexplained deposits, the assessee is in appeal whereas in respect of relief granted in appeal whereas in respect of relief granted on on unexplained deposit in the bank, the Revenue is in appeal. the Revenue is in appeal. 4.1 We have heard rival submissions and material placed on We have heard rival submissions and material

HELIOS MERCANTILE LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

purchases and sales\ntransactions from 3% to 0.07% although the assessing\nofficer has rightly computed commission at the rate of 3%\nwhich is fair and reasonable, by placing reliance on various\njudicial pronouncement which is in the range of 5% to 6%\niii. on the facts and in the circumstances of the case and in law\nthe learned

ASSTT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI vs. HELIOS MERCANTILE LIMITED, MUMBAI

purchases and sales\ntransactions from 3% to 0.07% although the assessing\nofficer has rightly computed commission at the rate of 3%\nwhich is fair and reasonable, by placing reliance on various\njudicial pronouncement which is in the range of 5% to 6%\non the facts and in the circumstances of the case and in law\nthe learned CIT A erred

ACIT-15(3)(1), MUMBAI, MUMBAI vs. M/S TORANE ISPAT UDYOG PRIVATE LIMITED, MUMBAI

In the result, ground No.1 of the appeal is allowed

Bench: Ms. Kavitha Rajagopal & Smt.Renu Jauhriacit-15(3)(1) Vs. M/S. Torane Ispat Udyog Room No. 480, Forth Floor, Private Limited Aayakar Bhawan, 49, Ground Floor, Cinewonder Mumbai-400020. Mall, Ghodbunder Road, Thane West, Mumbai-400607. "थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aacct9196K Appellant .. Respondent

Section 292B of the Act which was introduced in the statute from A.Y 2008-09. 4. "Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) was correct in mentioning the amount of bogus purchase

NITIN CHATURBHUG GARG ,MUMBAI vs. ITO WARD 41(3)(3), MUMBAI

Bench: Shri Pawan Singh, Jm & Shri Arun Khodpia, Am

bogus purchase bills during the relevant previous year. The assessment was passed under section 144 r.w.s. 147 making addition of Rs. 1,54,55,773/- under section 69C of the Act. It is submitted that notice issued by the ld. AO were never served to the assessee, therefore was completely unaware of the proceedings initiated. It was the submission that

NITIN CHATURBHUG GARG,MUMBAI vs. ITO WARD 41(3)(3), MUMBAI

Bench: Shri Pawan Singh, Jm & Shri Arun Khodpia, Am

bogus purchase bills during the relevant previous year. The assessment was passed under section 144 r.w.s. 147 making addition of Rs. 1,54,55,773/- under section 69C of the Act. It is submitted that notice issued by the ld. AO were never served to the assessee, therefore was completely unaware of the proceedings initiated. It was the submission that

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI MUMBAI, MUMBAI

purchases and sales\ntransactions from 3% to 0.07% although the assessing\nofficer has rightly computed commission at the rate of 3%\nwhich is fair and reasonable, by placing reliance on various\njudicial pronouncement which is in the range of 5% to 6%\niii. on the facts and in the circumstances of the case and in law\nthe learned

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-400020

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

HELLIOS EXPORTS LIMITED,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

SHRIVALLABH PITTIE INDUSTRIES LTD ,MUMBAI. vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2)., MUMBAI vs. M/S CITRON INFRAPROJECTS LTD , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD MUMBAI ,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI , MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

CITRON INFRAPROJECT LTD.,,MUMBAI-400005 vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-7(2), MUMBAI-20

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

ACIT (CC)-8(2) , MUMBAI vs. HELIOS EXPORTS LTD, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI MUMBAI MUMB, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

SVP GLOBAL TEXTILES LTD FORMERLY SVP GLOBAL VENTURES LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-6(1), MUMBAI, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned

SVP SOUTH WEST INDUSTRIES LTD. (FORMERLY, PLATINUM TEXTILE LTD.),MUMBAI-400005 vs. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-8(2), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

purchases and sales transactions from 3% to 0.07% although the assessing officer has rightly computed commission at the rate of 3% which is fair and reasonable, by placing reliance on various judicial pronouncement which is in the range of 5% to 6% iii. on the facts and in the circumstances of the case and in law the learned