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2 results for “bogus purchases”+ Section 56(2)(vii)clear

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Key Topics

Section 14810Section 143(3)2Section 143(1)2Reassessment2Reopening of Assessment2

COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. M/S. ROLAND EDUCATIONAL AND CHARITABLE TRUST

ITA/25/2022HC Orissa09 Feb 2023

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

Section 143(1)Section 143(3)Section 148

purchase of assets etc., in the form of gifts, share application money, loans, etc. 2. To inflate expense in the trading and profit and loss account so as to reduce the real profits and thereby pay less taxes. It has been revealed that the following entries have been received by the assessee : . .. ." 29.2 The details of six entries were then

PRINCIPAL COMMISSIONER OF INCOME TAX 1 vs. PARBATI MOHAPATRA

ITA/19/2022HC Orissa08 Feb 2023

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

Section 143(1)
Section 143(3)
Section 148

purchase of assets etc., in the form of gifts, share application money, loans, etc. 2. To inflate expense in the trading and profit and loss account so as to reduce the real profits and thereby pay less taxes. It has been revealed that the following entries have been received by the assessee : . .. ." 29.2 The details of six entries were then