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

purchases made by the assessee to the tune of Rs.2,24,40,000/- are bogus, the Assessing Officer rejected the books of account by applying the provisions of section

DY. COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE, PUNE, SWARGATE, PUNE vs. SHREE CHANAKYA EDUCATION SOCIETY, AUNDH ,PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2014-15

purchases to extent of Rs.1,84,99,795/- are fictitious/bogus and claimed as expenditure in I&E account of Assessee trust. Considering the above facts, it is clear that assessee trust has claimed bogus expenditure resulting in incorrect claim of application of income leading to underassessment of total income of Assessee trust to extent of Rs.1,84,99,795/-. Therefore

DY. COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE, PUNE, SWARGATE, PUNE vs. SHREE CHANAKYA EDUCATION SOCIETY, AUNDH, PUNE

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

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2014-15

purchases to extent of Rs.1,84,99,795/- are fictitious/bogus and claimed as expenditure in I&E account of Assessee trust. Considering the above facts, it is clear that assessee trust has claimed bogus expenditure resulting in incorrect claim of application of income leading to underassessment of total income of Assessee trust to extent of Rs.1,84,99,795/-. Therefore

DEPUTY COMMISSIONER OF INCOME TAX, AURANGABAD vs. SURYACHANDRA LALMANI DUBEY, AURANGABAD

In the result, appeal of the Revenue is allowed

Bench: SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND DR.DIPAK P. RIPOTE (Accountant Member)

bogus purchases of Rs.36,56,250/- and suppression of gross profit. Further, reason to believe is based on escapement of income to tune of Rs.36,56,250/-. Thus Ld. AO had formed her own independent opinion with respect to reason to believe in escapement of income as required by Section 148 of the I T Act 1961. With respect

DCIT-CIRCLE 7 PUNE, BODHI TOWER SALISBURY PARK PUNE vs. TRIO CHEMSUCROTECH ENG. PROJECTS PVT. LTD, PUNE

purchases and expenses were pending to be received even till 31.03.2010, the provisioning made was not accepted and added back to the income, After making the above two additions, the income of the assessee was assessed at Rs.30,94,50,800/-.\n6. Aggrieved assessee preferred appeal before the ld.CIT(A). During the course of appellate proceedings, assessee along with making

M/S JYOTI SOLUTIONWORKS PVT. LTD,,PUNE vs. DCIT, CIRCLE 8, PUNE, PUNE

In the result, appeal of the assessee is allowed for statistical purposes

Bench: Dr.Manish Borad & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.2317/Pun/2024 Assessment Year : 2009-10

40,074/- without considering the detailed submission made along with documentary evidence to substantiate alleged bogus transactions vide physical submission before CIT(A)- 9, Pune made before 2019. Learned CIT(A) erred in observing that, the appellant could not file any submission/reply without appreciating that, the appellant has submitted relevant documents/information during appellate proceedings. 3. The learned AO & thereby learned

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

bogus long term capital gains on account of trading in shares of a penny stock companies which is\nexempt u/s 10(38) of the Income Tax Act, 1961. The penny stock shares have been regularly purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view

ASSISTANT COMMISSIONER OF INCOME TAX, JALGAON vs. SIDHARTH RATANLAL BAFNA, JALGAON

bogus long term capital gains on account of trading in shares of a penny stock companies which is\nexempt u/s 10(38) of the Income Tax Act, 1961. The penny stock shares have been regularly purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view

DCIT, CIRCLE-5, PUNE vs. SHRI PURUSHOTTAM R MOGHE, PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

SAILAB MARKETING SERVICES PVT LTD,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2), PUNE, PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

PURUSHOTTAM R MOGHE,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2), PUNE, PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

DCIT CIRCLE- 5, PUNE vs. SAILAB MARKETING SERVICES PVT. LTD., PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

PURUSHOTTAM R MOGHE,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2), PUNE, PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

DCIT, CIRCLE-5, PUNE vs. SHRI PURUSHOTTAM R MOGHE, PUNE

Bench: Shri Satbeer Singh Godara & Shri Gd Padmahshali

bogus sale purchase transactions with many other parties involving these twin assessees. We further note from a combined perusal of all these case files with the able assistance coming from both the learned representatives that the Assessing Officer(s) three re-assessments herein treated their respective trading business turnovers as bougs; being 3 ITA.Nos.72, 73 & 66/PUN./2021 And ITA.Nos

DEPUTY COMMISSIONER OF INCOME TAX, JALGAON vs. TARADEVI RATANLAL BAFNA, JALGAON

bogus long term capital gains on account of trading in shares of a penny stock companies which is\nexempt u/s 10(38) of the Income Tax Act, 1961. The penny stock shares have been regularly purchased and sold\nand LTCG is claimed as exempt in the return of income thereby routing her undisclosed income / into the\naccounts. In view

JAIBHAGWAN BANARASIDAS JINDAL,JALNA vs. THE INCOME TAX OFFICER, WARD-1, JALNA

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

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

bogus long term capital and made addition of Rs.85,38,145/- u/s 68 of the Act. We find before the Ld. CIT(A) / NFAC, the assessee apart from challenging the addition on merit, challenged the validity of re-assessment proceedings. We find the Ld. CIT(A) / NFAC upheld the validity of re-assessment proceedings and sustained the addition on merit

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

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

section (3) of section 143 for any\nprevious year; or\nc) Such case has been selected in accordance with the risk\nmanagement strategy, formulated by the Board from time to\ntime, for any previous year;\nThe Principal Commissioner or Commissioner shall—\ni.\ncall for such documents or information from the trust\nor institution, or make such inquiry as he thinks

R. K. WINES,PEN vs. ITO, WARD 4, PANVEL, PANVEL

In the result, appeal of the assessee is partly allowed

bogus purchases from the disputed\ncreditors. It is thus the case that without such purchases the subsequent\nsale of liquor could not have been effected.\nThe appellant submits that non responding by some parties to notice us\n133(6) cannot be a ground to reject book results u/s 145(3) Reliance\nplaced on CIT-vs-Jas Jack Elegance Exports