Search: bogus purchases

4 results for “bogus purchases”+ Section 80P(2)(a)clear

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Hyderabad14 Jaipur10 Mumbai4 Surat2 Pune2 Ahmedabad1 Raipur1 Chandigarh1

Key Topics

Section 271(1)(c)9 Section 143(3)5 Section 684 Section 14A3 Addition to Income3 Bogus Purchases3 Penalty3 Section 132(1)2 Section 271(1)(C)2

DY CIT CC 4 (1), MUMBAI vs. CENTAUR MERCHANTILE PVT LTD., MUMBAI

In the result, revenue’s appeals are dismissed

ITA 324/MUM/2020[2008-09]Status: DisposedITAT Mumbai20 Sept 2021AY 2008-09

Bench: Shri Shamim Yahya (Am) & Shri Ravish Sood (Jm)

Section 132(1)Section 132(4)Section 143(3)Section 271(1)(c)

bogus purchases were capitalized as CWIP. It was further held by the FAA that the 4 Centaur Mercantile Pvt.Ltd. CWIP has been reduced by the AO for the relevant year which will have a consequential effect of increasing the profits in the subsequent years when the income is booked as per the method of accounting followed by the assessee

ITO 3(3)(2), MUMBAI vs. SATYA SECURITIES LTD, MUMBAI

In the result, the present appeal is partly allowed

DY CIT CC 4 (1), MUMBAI vs. CENTAUR MERCHANTILE PVT LTD., MUMBAI

ITO 3(3)(2), MUMBAI vs. SATYA SECURITIES LTD, MUMBAI

DY CIT CC 4 (1), MUMBAI vs. CENTAUR MERCHANTILE PVT LTD., MUMBAI

ITO 3(3)(2), MUMBAI vs. SATYA SECURITIES LTD, MUMBAI

SHORLINE HOTEL P. LTD.,MUMBAI vs. DY CIT- CC-1(2), MUMBAI

SHRI RAJENDRA P. JAIN ,MUMBAI vs. DYCIT, CENTRAL CIR.-1(3), MUMBAI