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3 results for “bogus purchases”+ Section 69clear

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Key Topics

Section 271(1)(c)4Section 684Penalty3Section 260A2

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

69   of   2006,   whereby   the   appellant’s   appeal   was dismissed   and   the   order   of   Income   Tax   Appellate   Tribunal, Jodhpur Bench (for short, ‘the ITAT’) came to be upheld. 2. In short, the appellant/assessee was served with a notice under  Section  143(2)  of  the   Income  Tax  Act,  1961   (for   short, ‘1961 Act’) by the Assessing Officer (for short, ‘Officer

COMMNR. OF CUSTOMS(PREVENTIVE) vs. M/S. AAFLOAT TEXTILES (I) P.LTD.&ORS

The appeal is allowed

C.A. No.-002447-002447 - 2007Supreme Court16 Feb 2009

Bench: The Cestat Was To The Order Of Commissioner Of Customs Who Confirmed The Duty Demand Of

Section 111Section 114ASection 28Section 28(1)Section 28A

69,40,149/- on 9 consignments of gold and silver imported by M/s Aafloat Textiles (India) Ltd. (Formerly known as M/s Akai Impex Ltd.) under Section 28 alongwith appropriate interest under Section 28AB of the Customs Act, 1962 (in short the ‘Act’). The benefit of exemption in terms of Notification No.117/94-Cus. Dated 27.4.1997 was denied and liability of the goods

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