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3 results for “bogus purchases”+ Reassessmentclear

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Key Topics

Addition to Income3

The Commissioner of Income Tax- I vs. M/s Auctus Pharma Pvt. Ltd.,

The appeal stands disposed of

ITTA/505/2011HC Telangana29 Feb 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

For Respondent: None present

bogus purchases made by the assessee and consequent rejection of books of accounts and on the other hand, deleting the trading addition of Rs. 1,70,18,605/- without giving any finding for the same? 3. Though served none appeared for the respondent. 4. Counsel for the appellant contended that issue is now squarely covered by the decision of this

The Commissioner of Income Tax-IV vs. M/s. Meghadoot Drillers,

ITTA/473/2011HC Telangana31 Jan 2012
Section 133ASection 139Section 145(3)
Section 147

purchases from the alleged three parties on theoretical platform ignoring the fact that the books of accounts of the assessee were rejected u/s 145(3) and the assessee has accepted the discrepencies during the survey operation u/s. 133A and has surrendered a sum of Rs. 57,00,000/- in assessment year 2004-05 and Rs. 20,00,000/- in assessment

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

ITTA/577/2011HC Telangana28 Feb 2012

purchaser M/s MEIPL was going to develop th land relating to 12 partners. Therefore, the land in pieces was brought by assessee company. It is not a case of the department that in lieu of cheques any cash was withdrawn from the bank and the same has been returned to the assessee. The general statement recorded of the Director that