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2 results for “bogus purchases”+ Section 271(1)(c)clear

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Key Topics

Section 271(1)(c)4Section 684Section 260A2Penalty2

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

Section 271(1)(c) of the Income Tax Act, 1961 with effect from 1.4.1976? FACTS (C.A. NO. 7115 OF 2005) For the assessment year 1996-97, the assessee-appellant returned an income of Rs. 1,32,44,507.29 subject to depreciation. The depreciation claimed for the year was Rs.1,47,97,995.01 computed as under:- Depreciation for Assessment year

BASIR AHMED SISODIA vs. THE INCOME TAX OFFICER

Appeal is allowed

C.A. No.-006110-006110 - 2009Supreme Court24 Apr 2020

Bench: HON'BLE MR. JUSTICE A.M. KHANWILKAR

Section 143(2)Section 24(1)Section 260ASection 272(1)(c)Section 68

Section 271(1)(c) dated 17.11.2006 qua the appellant/assessee for the self­same assessment year 1998­1999.  The Income­Tax Officer had passed the said order as a consequence of the conclusion reached in the assessment order which had by then become final upto the stage of ITAT vide order dated 27.4.2006 ­ to the effect that the stated purchases by the appellant/assessee from