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3 results for “bogus purchases”+ Section 2(31)clear

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Key Topics

Section 271(1)(c)4Section 803Section 260A2Depreciation2Addition to Income2

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

C.A. No.-013771-013771 - 2015Supreme Court06 Dec 2023

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

Section 260ASection 80

31. That being the position, we hold that the Tribunal had rightly computed the market value of electricity supplied by the captive power plants of the assessee to its industrial units after comparing it with the rate of power available in the open market i.e., the price charged by the State Electricity Board while supplying electricity to the industrial consumers

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

C.A. No.-001008-001008 - 2020Supreme Court03 Apr 2020

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

Section 142(1)
Section 143
Section 143(2)
Section 148

purchase and sale. It is true, as the High Court has observed, that this information could have been acquired by the Income Tax Officer if he had exercised due diligence at the time of the original assessment itself. It does not appear, however,   that   the   attention   of   the   Income   Tax   Officer   was directed by anything before him to the fact

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68

purchase and lease of cinematographic films held to be bogus Rs. 57,51,520.00 (ii) Reduction of claim of depreciation in respect of leasing vehicles from 40% to 20%. Rs. 10,28,462.00 (iii) Unexplained share application money added back as unexplained cash credits under Section 68 Rs. 19,16,000.00 (iv) Lease rentals of cinematographic films held