DEPUTY COMMISSIONER OF INCOME, AURANGABAD vs. METAROLLS ISPAT PVT. LTD, JALNA

In the result, both the appeals filed by the Revenue are partly allowed

bogus purchases.\n4. Facts of the case, in brief, are that the assessee is a company engaged in\nbusiness of manufacturing of steel products such as MS Billets & TMT Bars. It\nfiled its return of income on 26.12.2020 declaring total income of\nRs.19,48,06,480/-. The return was processed u/s 143(1) of the Income Tax Act,\n1961 (hereinafter

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. METAROLLS ISPAT PVT. LTD., JALNA

In the result, both the appeals filed by the Revenue are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21

bogus purchases. 4. Facts of the case, in brief, are that the assessee is a company engaged in business of manufacturing of steel products such as MS Billets & TMT Bars. It filed its return of income on 26.12.2020 declaring total income of Rs.19,48,06,480/-. The return was processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter

DY COMMISSIONER OF INCOME TAX, SATARA vs. KAY BOUVET ENGINEERING LIMITED, SATARA

In the result, both the appeals filed by the Revenue and both the COs filed\nby the assessee are dismissed

purchases and bogus\nsales as circular trading for inflation of turnover. However, it is an admitted fact\nthat the assessee in the instant case is maintaining regular books of account which\nwere duly audited and the Assessing Officer has not rejected such audited books of\naccount and accepted the various items which conform part of Profit and Loss\nAccount including

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. RATHI STEEL AND METAL PVT. LTD, JALNA

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2021-22 Dcit, Aurangabad Rathi Steel & Metal Pvt. Ltd. Plot No.F12, Addl Midc Area, Phase-Ii, Vs. Jalna – 431203 Pan : Aabcr5546A (Appellant) (Respondent) Assessee By : Shri Anand Partani Department By : Shri Ajay Kumar Keshari - Cit Date Of Hearing : 01-04-2025 Date Of Pronouncement : 27-05-2025 O R D E R

bogus purchases from various entities in respect of the assessee company. In the appraisal report names of 19 parties were mentioned. Notices u/s 133(6) of the Act were issued to these parties and the purchases were confirmed by the parties except OM Traders, Sunny Traders and Krypton Scrap Works Pvt. Ltd. It was further mentioned that information was also

ASSISTANT COMMISSIONER OF INCOME TAX, KOLHAPUR vs. NATHMAL RUPCHAND JAIN, KOLHAPUR

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2020-21

seizure operation u/s 132 of the Income Tax Act, 1961 (hereinafter referred to as „the Act‟) was conducted at the business premises of M/s. Rishabh Trading Company, proprietorship of Sri Ankit Jain on 07.11.2019. During the course of search operation conducted, the statement of Sri Ankit Jain was recorded on oath wherein he has confessed that he had made fictitious

DY. COMMISSIONER OF INCOME TAX,SATARA CIRCLE,SATARA, SATARA vs. KAY BOUVET ENGINEERING LIMITED, SATARA

In the result, both the appeals filed by the Revenue and both the COs filed by the assessee are dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandra

purchases and bogus sales as circular trading for inflation of turnover. However, it is an admitted fact that the assessee in the instant case is maintaining regular books of account which were duly audited and the Assessing Officer has not rejected such audited books of account and accepted the various items which conform part of Profit and Loss Account including

ACIT, CIRCLE-1, NASHIK, NASHIK vs. TAPARIA TOOLS LIMITED, NASHIK

In the result, both the appeal of the Revenue as well as Cross Objection of the assessee are allowed for statistical purposes as per the terms indicated above

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.1337/Pun/2025 Assessment Year : 2017-18

search and seizure proceedings conducted by the Directorate General of Goods and Service Tax (GST) Intelligence office, Nashik zonal unit, one of the primary factor was to verify and evaluate the purchases made from sharp king. The said Hon'ble office after completing the proceedings have concluded vide their closure report dated 30th December 2021 that materials have actually been

HETAL RAKESH MEHTA ,MUMBAI vs. ACIT, CC-1(2), PUNE

In the result, the appeal filed by the assessee is allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2018-19 Hetal Rakesh Mehta Acit, Central Circle 1(2), 9/10, Vidya Nagar, 60 Feet Road, Vs. Pune Ghatkopar East, Mumbai – 400077 Pan: Ammpm9670L (Appellant) (Respondent)

seizure action u/s 132 of the Act was also carried out in the cases of Rakesh Mehta, Hetal Mehta and Rakesh Mehta HUF. During the search action, Shri Rakesh Mehta was asked to state the details regarding all the steps and procedure involved in his business, along with details of documents prepared thereof. However, the assessee was not able

RAKESH H MEHTA HUF,MUMBAI vs. ACIT, CC-1(2), PUNE

In the result, all the three appeals of the assessee are dismissed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

search and seizure action u/s.132 of the Act was conducted in the BVG Group of cases on 06.11.2019 in which the assessee was also covered and certain incriminating materials were impounded. Statutory notices were issued to the asssessee to which the assessee made compliance. Based on the seized material and information furnished by the assessee, the Assessing Officer noticed that

RAKESH H MEHTA HUF,MUMBAI vs. ACIT, CC-1(2), PUNE

In the result, all the three appeals of the assessee are dismissed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

search and seizure action u/s.132 of the Act was conducted in the BVG Group of cases on 06.11.2019 in which the assessee was also covered and certain incriminating materials were impounded. Statutory notices were issued to the asssessee to which the assessee made compliance. Based on the seized material and information furnished by the assessee, the Assessing Officer noticed that

RAKESH H MEHTA HUF,MUMBAI vs. ACIT, CC-1(2), PUNE

In the result, all the three appeals of the assessee are dismissed

Bench: Dr.Manish Borad & Shri Vinay Bhamore

search and seizure action u/s.132 of the Act was conducted in the BVG Group of cases on 06.11.2019 in which the assessee was also covered and certain incriminating materials were impounded. Statutory notices were issued to the asssessee to which the assessee made compliance. Based on the seized material and information furnished by the assessee, the Assessing Officer noticed that

SHRI MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

bogus\ncompanies?\nAns: The accommodation entries by way of unsecured loans were taken to\npurchase properties. I did not have the amounts in the bank accounts but\nhad the cash. Therefore to purchase the properties, I had to do this\nexercise.\n6\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nThe return of income for AY 2011-12 filed on 29/09/2011 by the assessee

MANOJ MADANLAL CHHAJED,PUNE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), PUNE

bogus\ncompanies?\nAns: The accommodation entries by way of unsecured loans were taken to\npurchase properties. I did not have the amounts in the bank accounts but\nhad the cash. Therefore to purchase the properties, I had to do this\nexercise.\n6\nITA No.1178/PUN/2023\nITA No.2017/PUN/2024\nThe return of income for AY 2011-12 filed on 29/09/2011 by the assessee

DINESHKUMAR RAMCHANDRA TULSYAN (HUF),,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

In the result, both the appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2014-15 Dineshkumar Ramchandra Tulsyan (Huf) Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Aachd5953R (Appellant) (Respondent) Assessment Year : 2014-15 Smt. Sumandevi Dineshkumar Tulsyan Ito, Ward 1(5), 214B, Laxmi Niwas, Mahatma Nagar, Vs. Nashik Nashik – 422007 Pan: Ackpt1322Q (Appellant) (Respondent)

search and seizure action at the premises of entry operators, share brokers and money launderers who were involved in providing accommodation entries of Long Term Capital Gains. It was found that the price of various listed companies including Mishka i.e. the shares under question were manipulated and resulting in Long Term Capital Gains as the same were exempt. He noted

SMT. SUMANDEVI DINESHKUMAR TULSYAN,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK

search and seizure action at the premises of entry operators, share\nbrokers and money launderers who were involved in providing accommodation\nentries of Long Term Capital Gains. It was found that the price of various listed\ncompanies including Mishka i.e. the shares under question were manipulated and\nthe unaccounted money of the investors was routed through share transactions,\nresulting

JAYDEV MAHADEV ARYA,LATUR vs. ITO WARD 1, LATUR, LATUR

In the result, all the three appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandra

bogus imports etc. Accordingly, even as per the report of the Investigation Wing, Renukamata Society had roped in various individuals of meagre means to open bank accounts in their names and thereafter, such bank accounts were operated by other persons / real beneficiaries for carrying out various activities viz. remittance of money abroad with falsified documents, payment of custom duty, purchase

JAYDEV MAHADEV ARYA,LATUR vs. ITO WARD 1, LATUR, LATUR

In the result, all the three appeals filed by the assessee are partly allowed

Bench: Shri R. K. Panda & Ms. Astha Chandra

bogus imports etc. Accordingly, even as per the report of the Investigation Wing, Renukamata Society had roped in various individuals of meagre means to open bank accounts in their names and thereafter, such bank accounts were operated by other persons / real beneficiaries for carrying out various activities viz. remittance of money abroad with falsified documents, payment of custom duty, purchase

INCOME TAX OFFICER WARD 1 , LATUR vs. VIMAL JAYDEV ARYA, LATUR

In the result, the appeal filed by the Revenue is partly allowed and the CO filed by the assessee is dismissed

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2015-16

bogus imports etc. Accordingly, even as per the report of the Investigation Wing, Renukamata Society had roped in various individuals of meagre means to open bank accounts in their names and thereafter, such bank accounts were operated by other persons / real beneficiaries for carrying out various activities viz. remittance of money abroad with falsified documents, payment of custom duty, purchase

M.M. PATEL PUBLIC CHARITABLE TRUST,SOLAPUR vs. PCIT- CENTRAL, PUNE, PUNE

In the result, the appeal of the assessee is partly allowed

seizure operations\nwere carried out on 16.12.2015 and the illegality cannot be\nallowed to be perpetuated for the preceding periods for which such\nevidence pointing out the illegalities exist on record\".\n(iv) In the case of U.P. Distillers Association (IT Appeal 830 of\n2017), Hon'ble Delhi High Court has held that the cancellation can\nbe made from