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3 results for “bogus purchases”+ Section 35clear

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Key Topics

Section 143(3)3Addition to Income2

M/S MANIKARAN POWER LTD,RANCHI vs. ACIT, CIRCLE-2, RANCHI

In the result, the appeal of the assessee in ITA No

ITA 471/RAN/2024[2022-23]Status: DisposedITAT Ranchi08 Oct 2025AY 2022-23

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahayit(Ss)A No. 01/Ran/2025 (Assessment Year: 2022-23) A.C.I.T., Manikaran Power Limited, Central Circle-2, Manikaran Tower, Kilburn Colony, Vs. Ranchi. P.O. Hinoo, Ranchi-834002 (Jharkhand) J.C.I.T. (In Situ), Pan No. Aaecm 4555 F Ranchi. Revenue/ Appellant Respondent/ Assessee Manikaran Power Limited, A.C.I.T., Manikaran Tower, Kilburn Colony, Central Circle-2, Vs. P.O. Hinoo, Ranchi-834002 Ranchi. (Jharkhand) Pan No. Aaecm 4555 F Revenue/ Appellant Respondent/ Assessee

35,77,52,226/- as bogus purchases. It was a submission that the Assessing Officer had also made the disallowance by invoking the provisions of Section

SRI KAMLESH KUMAR SINGH,DALTONGANJ vs. ACIT,CIR-1, RANCHI

ITA 53/RAN/2017[2008-09]Status: DisposedITAT Ranchi07 Aug 2023AY 2008-09

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. No. 49/Ran/2017 Assessment Year: 2009-2010 Smt. Madhu Singh,...................................Appellant Hamidganj, Daltonganj-822101 [Pan: Bbjps0426B] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-1, Ranchi & I.T.A. Nos. 53 & 54/Ran/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kumar Singh,...................Appellant Hamidganj, Daltonganj-822101 [Pan: Afzps8288J] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-1, Ranchi Appearances By: Shri Devesh Poddar, Advocate, Appeared On Behalf Of The Assessee Shri P.K. Koley, Sr. D.R., Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : May 22, 2023 Date Of Pronouncing The Order : August 7Th, 2023 1 Assessment Year: 2009-2010 Smt. Madhu Singh & Ita Nos. 53 & 54/Ran/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kr. Singh

Section 10(38)Section 143(3)Section 234A

35,845/- treating the capital gain as bogus and sale consideration of the shares was considered as income from other sources. Appellant had filed complete details regarding purchase and sale of shares, period for which shares were made, sufficient evidence in support of purchase of shares and sale of shares was filed. Transaction was through proper banking channels and bonafide

SHAH BROTHERS,CHAIBASA vs. ACIT CENTRAL CIRCLE-1, RANCHI

In the result, this appeal of the assessee is allowed

ITA 134/RAN/2023[2013-14]Status: DisposedITAT Ranchi10 Jun 2025AY 2013-14

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahayshah Brothers, A.C.I.T., Thana Lane, Chaibasa-833201 Central Circle-1, Vs. (Jharkhand) Ranchi. Pan No. Aazfs 7498 F Appellant/ Assessee Respondent/ Revenue

Section 143(3)

35 to 38 of its order has held as follows: "26. Next comes disallowance of ₹34,01,811/- on account of assessee’s payment made to M/s Rajshila Nirman Pvt. Ltd. for management consultancy services made by the Assessing Officer after holding that the said payee was a bogus entity already struck off from the muster data