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7 results for “bogus purchases”+ Unexplained Moneyclear

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Key Topics

Section 143(3)12Section 26310Addition to Income7Section 153A6Section 115B4Section 10(38)4Section 692Section 69A2Section 142(1)2

ACIT, C.C.-1, RANCHI vs. M/S CHINTPURNI STEEL PVT. LTD.,, RANCHI

In the result, appeal of the revenue is dismissed

ITA 32/RAN/2020[2013-14]Status: DisposedITAT Ranchi06 Nov 2023AY 2013-14

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 143(3)Section 69A

purchase of steel scraps. Accordingly the AO came to the conclusion that the money received from Shree Mahalaxmi Steels is bogus and is accommodation entry and accordingly the same was added to the income of the assessee in the assessment framed u/s 143(3) of the Act dated 4.3.2016. 4. In the appellate proceedings, the Ld. CIT(A), after discussing

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

Unexplained Money2
Cash Deposit2
Bogus/Accommodation Entry2
Section 10(38)Section 143(3)Section 234A

unexplained money in the hands of Kamlesh Kumar Singh 4 Assessment Year: 2009-2010 Smt. Madhu Singh & ITA Nos. 53 & 54/RAN/2017 Assessment Years: 2008-2009 & 2009-2010 Shri Kamlesh Kr. Singh and made a substantive addition under section 69A of the Act and for loan taken from her son, substantive addition of Rs.3,54,000/- made in the hands

RANJIT PRASAD SAHU,BOKARO vs. ASSISTANT COMMISSIONER OF INCOME TAX, HAZARIBAGH

In the result, grounds of appeal raised by the assessee are allowed

ITA 312/RAN/2024[2017-18]Status: DisposedITAT Ranchi05 May 2025AY 2017-18

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahay(Virtual Hearing) Ranjit Prasad Sahu, A.C.I.T., Hosir, P.O. Lalpania, Dist.- Hazaribagh. Vs. Bokaro-829149 (Jharkhand) Pan No. Akkpk 9351 J Appellant/ Assessee Respondent/ Revenue

Section 115BSection 142(1)Section 147Section 271ASection 69Section 69A

unexplained money u/s 69 of the Income Tax Act, 1961. The Appellant was unable to offer his explanation before the Ld. Assessing Officer due to non compliance caused by some unavoidable reasons." 2. Facts of the case, in brief, are that the appellant is a proprietor of M/s Ranjeet Fuel Centre, Lalpania, Bokaro, a retail outlet of petroleum products

MOTOREX FINANCE PVT LTD ,KOLKATA vs. ITO, WARD-4(1), KOLKATA

In the result, the appeal of the assessee stands allowed

ITA 115/KOL/2022[2016-17]Status: DisposedITAT Ranchi09 Jun 2025AY 2016-17

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaymotorex Finance Pvt. Ltd., I.T.O., 1A, Grant Lane, Kolkata-700012 (West Ward 4(1), Vs. Bengal). Kolkata. Pan No. Aaccm 1042 R Appellant/ Assessee Respondent/ Revenue

unexplained income of the assessee. It was a submission that before the Assessing Officer, the assessee had provided the complete break up of all the receipts and for this he drew our attention to page No. 151 of the paper book which was the response on the e-portal. It was a submission that four responses had been filed

M/S. SRIRAM POWER & STEEL PVT. LTD.,,RAMGARH vs. PR. CIT(C), PATNA, PATNA

In the result, both the appeals of the assessee are allowed

ITA 20/RAN/2021[2010-11]Status: DisposedITAT Ranchi31 Mar 2023AY 2010-11

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 132(1)Section 143(2)Section 143(3)Section 153ASection 263

bogus share application money and share premium from the said two companies as per the facts available on the assessment record. According to Ld. PCIT, the AO has failed to examine the investment and issue of share capital and share premium and thus has not verified the identity, creditworthiness of the investors and genuineness of the transactions which has rendered

M/S. SRIRAM POWER & STEEL PVT. LTD.,,RAMGARH vs. PR. CIT(C), PATNA, PATNA

In the result, both the appeals of the assessee are allowed

ITA 21/RAN/2021[2011-12]Status: DisposedITAT Ranchi31 Mar 2023AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 132(1)Section 143(2)Section 143(3)Section 153ASection 263

bogus share application money and share premium from the said two companies as per the facts available on the assessment record. According to Ld. PCIT, the AO has failed to examine the investment and issue of share capital and share premium and thus has not verified the identity, creditworthiness of the investors and genuineness of the transactions which has rendered

RAMA SHANKAR PRASAD ,RANCHI vs. DCIT,CIRCLE-1, RANCHI

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

ITA 115/RAN/2019[2015-16]Status: DisposedITAT Ranchi22 Aug 2023AY 2015-16

Bench: Sri Rajesh Kumar & Sonjoy Sarma

Section 10(38)Section 115BSection 142(1)Section 143(1)Section 143(3)Section 68

bogus and accordingly by Page 2 of 6 I.T.A. No.: 115/RAN/2019 Assessment Year: 2015-16 Rama Shankar Prasad. issuing notice u/s 142(1) of the Act dated 25.10.2017 called upon the assessee to furnish the details of claim u/s 10(38) of the Act and also to establish the credibility, genuineness and authenticity of the said transactions. Thereafter again