RAHUL CABLES PVT.LTD,,PUNE vs. PR. COMMISSIONER OF INCOME TAX -3,, PUNE

In the result, appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.1168 To 1170/Pun/2017 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2009-10 To 2011-12 वष"

21,31,76,927/- which comes out to be Rs.24,26,35,385/-. This is not reasonable as the bogus purchases are only 2.8% of the total turnover. c. Third method is calculating 20% of such bogus purchases which comes out to be Rs.69,55,709/-. I am of the opinion that 20% of the total purchases made from such

RAHUL CABLES PVT.LTD,,PUNE vs. PR. COMMISSIONER OF INCOME TAX -3,, PUNE

In the result, appeal of the assessee is allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.1168 To 1170/Pun/2017 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2009-10 To 2011-12 वष"

21,31,76,927/- which comes out to be Rs.24,26,35,385/-. This is not reasonable as the bogus purchases are only 2.8% of the total turnover. c. Third method is calculating 20% of such bogus purchases which comes out to be Rs.69,55,709/-. I am of the opinion that 20% of the total purchases made from such

PRAMOD SHANKARRAO SALUNKHE,,KOLHAPUR vs. PR. COMMISSIONER OF INCOME-TAX -2,, KOLHAPUR

In the result, appeal of the assessee is allowed

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No. 974/Pun/2018 धनधाारण वषा / Assessment Year : 2010-11 Pramod Shankarrao Salunkhe Flat No.7, Takshak Apartment, E Ward, Nagala Park, Kolhapur-416 003 Pan : Alnps2900F .......अपीलाथी / Appellant बनाम / V/S. The Pr. Commissioner Of Income Tax-Ii, Kolhapur. ……प्रत्यथी / Respondent Assessee By : None Revenue By : Shri J.P Chandrakar

Section 68 and 69C of the I.T Act, 1961”. The said Gujarat High Court‟s decision has been affirmed by the Supreme Court by dismissing the SLP filed by the assessee and accordingly, it was held by the Ld. Pr. Commissioner of Income Tax that the addition on percentage basis on bogus/hawala purchases is not correct

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

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

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

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

bogus purchases of Rs.13,80,63,994/- will meet the ends of justice. We, therefore, set aside the order of the Ld. CIT(A) and direct the Assessing Officer to adopt the profit rate of 5% on the total purchases of Rs.13,80,63,994/- and restrict the addition to Rs.69,03,200/-. The order

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 of Rs.13,80,63,994/- will meet the ends of justice. We, therefore, set aside the order of the Ld. CIT(A) and direct the Assessing Officer to adopt the profit rate of 5% on the total purchases of Rs.13,80,63,994/- and restrict the addition to Rs.69,03,200/-. The order

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

SHAHAJI BHANUDAS BHAD,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

DEPUTY COMMISSIONER OF INCOME-TAX vs. SHRI SHAHAJI BHANUDAS BHAD,, PUNE

In the result, the appeal is partly allowed

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Raviआयकर अपील सं. / Ita Nos. 813 To 818/Pun/2016 िनधा"रण वष" / Assessment Years : 2007-08 To 2012-13

section 132(4), which delineates that the statement made by the assessee may or may not be used as evidence in the assessment proceedings. The nitty gritty of the matter is that though a statement made u/s 132(4) carries immense weight and works as an evidence, but the same is not conclusive in so far as the legal assertions

HEM KIRAN DIESELS,,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE -KOLHAPUR , KOLHAPUR

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

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.1088/Pun/2018 िनधा"रण वष" / Assessment Year : 2011-12 Hem Kiran Diesels, 1227, E, Rajaram Road, Kolhapur-416008. .......अपीलाथ" / Appellant Pan : Aabfh6497B बनाम / V/S. Acit, Central Circle-Kolhapur, ……""यथ" / Respondent Kolhapur. Assessee By : Shri M. K. Kulkarni Revenue By : Shri M.K. Verma सुनवाई क" तारीख / Date Of Hearing : 07.02.2019 घोषणा क" तारीख / Date Of Pronouncement : 08.02.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Assessee Against The Order Of Cit(A)-11, Pune Dated 14.03.2018 For The Assessment Year 2011-12. 2. The Effective Ground Raised By The Assessee Is As Under :- “1. On The Facts & Circumstances Of The Case & In Law The Ld. Cit(A) Was Not Justified In Estimating The Income On Hawala Purchases As Reported By The Sales-Tax Department Equal To 30% As Against 10% Estimated By Various Appellate Authorities. The Estimation @ 30% Be Replaced By 10% To Do Justice To The Assessee.” 3. Briefly, The Relevant Facts Include That The Assessee Is A Company Engaged In The Business Of Repairs To Automobiles & Particularly Cater To The Diesel Engines Repairs, Like Nozzles, Pumps Etc. & Repair Workshops Of Four

21,478/- on account of bogus purchases to the total income of the assessee. Aggrieved with the said decision of the Assessing Officer, the assessee carried the matter before the CIT(A). 4. The CIT(A) after considering the submission of the assessee and following the decision of the Tribunal in the case of Ensemble Engineering vide ITA No.1760

INCOME TAX OFFICER, PUNE vs. COOPERATION METALS, PUNE

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

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

bogus purchases? 3. The appellant craves leave to add to, amend, alter any of the above grounds of appeal. 7. The Ld. DR heavily relied on the order of the Assessing Officer. He submitted that the Ld. CIT(A) / NFAC without appreciating the facts properly has reduced the addition to Rs.15,97,740/- as against Rs.84,32,503/- made

CO-OPERATION METALS,PUNE vs. ITO WARD 6(3), PUNE

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

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

bogus purchases? 3. The appellant craves leave to add to, amend, alter any of the above grounds of appeal. 7. The Ld. DR heavily relied on the order of the Assessing Officer. He submitted that the Ld. CIT(A) / NFAC without appreciating the facts properly has reduced the addition to Rs.15,97,740/- as against Rs.84,32,503/- made