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3 results for “bogus purchases”+ Section 100clear

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Key Topics

Section 143(1)3Section 143(2)3Section 14A2Section 133A2Capital Gains2Short Term Capital Gains2Business Income2Disallowance2Addition to Income

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, PANAJI, PANAJI, GOA vs. BAGKIYA CONSTRUCTIONS PVT. LTD, GOA

The appeal of the Revenue is partly allowed in aforestated terms

ITA 148/PAN/2023[2017-18]Status: DisposedITAT Panaji27 Feb 2026AY 2017-18

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2017-2018 Asstt. Commissioner Of Income Tax, Central Circle, Panaji, Goa. . . . . . . . Appellant V/S M/S Bagkiya Construction Pvt. Ltd. Sf-3, Building No.-3. Techno Cidade, Chogam Rd., Alto Porvorim, Goa-403521. Pan: Aaccb9382M . . . . . . . Respondent Represented Assessee By: None For The Respondent Revenue By: Mr Senthil Kumar [‘Ld. Dr’] Date Of Conclusive Hearing : 29/01/2026 Date Of Pronouncement : 27/02/2026 Order Per G. D. Padmahshali; This Revenue’S Appeal Filed U/S 253(2) Of The Income- Tax Act, 1961 [‘The Act’] Challenges The Order Dt. 29/05/2023 Passed U/S 250 Of The Act By Commissioner Of Income Tax(Appeals-2), Panaji [‘Ld. Cit(A)’] Which In Turn Wheeled From The Order Dt. 25/08/2021 Passed U/S 147 Of The Act By Acit, Central Circle, Panaji, Goa [‘Ld. Ao’] Anent To Assessment Year 2017-18.[‘Ay’]

For Appellant: None for theFor Respondent: Mr Senthil Kumar [‘Ld. DR’]
Section 127(2)Section 131Section 133ASection 139(1)Section 143(1)
2
Section 143(2)
Section 147
Section 148
Section 250
Section 253(2)

100% addition unproved purchase expense with regard to two alleged suppliers. Likewise, in another case ‘Nickunj Eximp Enterprises (P) Ltd. Vs ACIT’ [372 ITR 619 (Bom)] their hon’ble lordship upheld addition in reassessment proceedings by observing that, where in course of survey u/s 133A of the act it was found that assessee made certain bogus bills/expenses, since occasion

SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

100 taxmann.com 436. 9. From the assessment order, we observe that the AO has treated the profit accrued to the assessee on purchase and sale of shares of M/s Sesa 9 ITA.No.105 & 116/PAN./2018 Sociedade De Fomento Industrial Pvt. Ltd., Margao, Goa. Goa Ltd., as business income instead of short-term capital gain as shown by the assessee with

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 116/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

100 taxmann.com 436. 9. From the assessment order, we observe that the AO has treated the profit accrued to the assessee on purchase and sale of shares of M/s Sesa 9 ITA.No.105 & 116/PAN./2018 Sociedade De Fomento Industrial Pvt. Ltd., Margao, Goa. Goa Ltd., as business income instead of short-term capital gain as shown by the assessee with