BASIR AHMED SISODIA vs. THE INCOME TAX OFFICER

Appeal is allowed

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

bogus entry, in the   sense   that   it   was   only   purportedly   shown   to   be   the amount   standing   to   the   credit   of   the   fifteen   persons, purportedly on account of assessee having purchased goods no credit from them, while since no goods were purchased, the   amount   did   represent   income   of   the   assessee   from undisclosed sources, which the assessee had only brought on record

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

The appeal is allowed

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

purchase of SILs for import of bullion and subsequently selling them in the local market. Shri Mahendra Shah stated that he had sold bogus SILs to the importer company. Shri Rasiklal Mehta stated that he and one AtuI Garodia met one Shri D.R. Gulati in Bombay who told that he could provide bogus SIL for which he would charge

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

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

PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL) 1 vs. NRA IRON AND STEEL PVT. LTD. THROUGH DIRECTOR

Bench: HON'BLE THE CHIEF JUSTICE

purchased. The Company had not enclosed their Bank Statement showing the source of fund for share application money. (50,00,000/- Ch. No. 069123 dt. 17.11.2008 & Rs. 40,00,000/- Ch. No. 069124 dt. 17.11.2008 drawn on Deutsche bank. The Company had shown income of Rs. 10,730/- for A.Y. 2009-10 Rs. 90,00,000 invested on 17.11.2008 Return