ACIT, CIRCLE- 3, NAGPUR vs. M/S SOLARIES HOLDING LTD.,, NEW DELHI
In the result, the appeal of the Revenue is dismissed
ITA 509/NAG/2014[2008-09]Status: DisposedITAT Nagpur28 Jun 2022AY 2008-09
Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S. Solaries Holdings Ltd. Circle-3, Thapar House, 124, Nagpur Janpath, New Delhi Panno.:Aahcs 59040 B Appellant Respondent Revenue By :Shripiyushkolhe (Cit-Dr) Assessee By: Shri K.P. Dewani (Adv.) Date Of Hearing: 18/04/2022 Date Of Pronouncement: 28/06/2022 Order Per: Sandeep Gosain, J.M. This Appeal Has Been Filed By The Department Against The Order Of The Ld. Cit-Ii, Nagpur Dated 01/09/2014 Passed U/S 143(3) Of The Income Tax Act, 1961 For The A.Y. 2008-09 Wherein The Department Has Raised The Following Grounds Of Appeal.
For Appellant: Shri K.P. Dewani (Adv.)For Respondent: ShriPiyushKolhe (CIT-DR)
Section 133A(1)(ia)Section 142(1)Section 143(1)Section 143(2)Section 143(3)
bogus turnover can be debated and there may be adverse consequences under other statutes for such conduct, but for the Income
Tax, what is required to be determined is the correct amount of taxable income generated from such transaction. Here, since the appellant has only indulged in circular transactions, there may not be any taxable income in the hands
