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5 results for “bogus purchases”+ Section 148Aclear

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Key Topics

Section 14814Section 148A13Section 143(1)3Section 1392Section 139(1)2Section 1472Section 10(38)2Reassessment2Addition to Income2

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

ITA 1337/PUN/2025[2017-18]Status: DisposedITAT Pune10 Dec 2025AY 2017-18

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

For Appellant: Shri Amit BobdeFor Respondent: Shri Viral Shah
Section 142(1)Section 147Section 148Section 37(1)

148A(d) order that seller has borne the transportation charges. The only bill furnished with respect to assessee was of meagre Rs.300/-. (d) The physical verification of the two warehouses and two corporate offices led to the following conclusions : (1) The M/s Sharp King Trading has only 2 one room warehouses, which are currently empty and do not have

KALAVATHI DEVI SHARMA,HYDERABAD vs. ITO, WARD-1, NANDED, NANDED

In the result, appeal of the assessee is dismissed

ITA 1519/PUN/2024[2016-17]Status: DisposedITAT Pune14 Jul 2025AY 2016-17

Bench: Dr.Manish Borad

For Appellant: NoneFor Respondent: Shri S. Sadananda Singh, JCIT
Section 10(38)Section 147Section 148Section 148ASection 149Section 250Section 68

purchased the Equity shares of M/s. Achal Investment Ltd. through offline mode on 12.11.2012. Further, there was no response from the side of assessee to the notice issued u/s.142(1) of the Act. Ld. AO concluded that the long term capital gain shown by the assessee in the return of income if bogus. He accordingly added the total amount

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

ITA 1436/PUN/2024[2015-16]Status: DisposedITAT Pune06 Dec 2024AY 2015-16

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri Ashwani KumarFor Respondent: Shri Ramnath P Murkunde
Section 139Section 139(1)Section 143(1)Section 148Section 148A

purchased and sold scripts at a price which are very less as compared to the market price on that particular day. During the FY 2014-15, M/s Kay Power and Paper Ltd. has made the transactions and booked the profit of Rs. 2,67,66,250/-. During the F.Y 2014-15, M/s Kay Power and Paper Ltd has made such

KAY POWER AND PAPER LIMITED,SATARA vs. INCOME TAX OFFICER, WARD-2, SATARA

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

ITA 1437/PUN/2024[2016-17]Status: DisposedITAT Pune06 Dec 2024AY 2016-17

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: Shri Ashwani KumarFor Respondent: Shri Ramnath P Murkunde
Section 139Section 139(1)Section 143(1)Section 148Section 148A

purchased and sold scripts at a price which are very less as compared to the market price on that particular day. During the FY 2014-15, M/s Kay Power and Paper Ltd. has made the transactions and booked the profit of Rs. 2,67,66,250/-. During the F.Y 2014-15, M/s Kay Power and Paper Ltd has made such

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeals filed by the Revenue are dismissed

ITA 427/PUN/2024[2015-16]Status: DisposedITAT Pune17 Oct 2024AY 2015-16

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

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(35)Section 132Section 133ASection 143(1)Section 143(2)Section 153A

bogusness or establish circumstance unerringly and reasonably raising an interference to that effect. The Hon'ble Supreme Court in the case of Umacharan Shah & Bros Vs CIT (37 ITR 271] held that suspicion however strong, cannot take the place of evidence. Since the transaction from the assessee is genuine no addition or disallowance can be made on this account