Search: bogus purchases

2 results for “bogus purchases”+ Section 56(2)(viib)clear

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Section 143(1)4 Section 143(3)4 Section 143(2)2 Section 142(1)2 Section 1322 Section 1472 Section 1482 Section 132(1)2 Reopening of Assessment2

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

ITA 1178/PUN/2023[2011-12]Status: DisposedITAT Pune19 Feb 2025AY 2011-12

Section 132Section 132(1)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

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