The Commissioner of Income Tax-III, vs. M/S V.J.Equipment Limited,

Bench: Charging The Interest U/S 234B & 234C Of The It Act?” 3. The Brief Facts Of The Case Are That The Assessee Firm Is Engaged In The Business Of Precious & Semi Precious Stones & It Is A 100% Exporter. During The

4. He further contended that the Tribunal on the statement of Mr. M.P. Sharma who was power of attorney holder Vinayak Overseas has reversed the finding of A.O and CIT (A). He also relied on decisions of High Courts in case of bogus purchases and contended that the judgment of Vijay Proteins Ltd. Vs. Commissioner of Income Tax, Special Leave

Commissioner of Income Tax, vs. Agricultural Market Committee

Bench: V.V.S.RAO,SANJAY KUMAR

4 amount of fictitious sale of shares, which had been held to be bogus and unexplained income of the assessee from undisclosed sources vide assessment order dated 5th December, 2006 under Sections 144 and 147 of the Act. 7. Aggrieved by the said order, the assessee had filed an appeal before the first appellate authority. The first appellant authority vide

M/S VAIBHAV vs. JOINT COMM. OF INCOME TAX RANGE 3 HYD

Appeal is allowed and the judgments and decrees passed by the

Bench: The Learned Trial Court) Was Allowed & The Judgment & Decree Dated 12.12.2000, Passed By Learned Senior Sub Judge, Kullu Was Set-Aside. (Parties Shall Hereinafter Be Referred To In

bogus, as she never paid the 14 consideration for the sale though she admitted the execution of the sale deed before the Registrar. Her story that she was ignorant of the nature of the transaction, it was held, cannot be accepted as she had admitted the execution of the sale deed before the Registrar. 11. A Division Bench of this

The Commissioner of Income Tax vs. Shri Byru Venkateswarlu

Appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

4 of 10) [ITA-341/2005] appears that in quantum appeal (ITA No.1874 to 1877/JP/95) dated 26.09.2002 the Tribunal finally reduced the additions to Rs.2,23,945/- pertaining to the following components: Trading Addition Rs.39,092/- ITAT Page 11 Bogus Purchase Rs.1,71,917/- 2-9 Salarly to Babu Bhai Rs.10,800/- 14 Disallowance of Dalali Rs.2

Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus loss, it is  a speculative one. 13. It has been observed by the Assessing Officer  that the sale of shares appeared to be effected  without taking actual delivery. In Short, when the  shares were stated to have been sold i.e. the date  of selling, the assessee was not in possession of  these shares. But once a person is accepted

The Commissioner of Income -Tax - III, vs. Shri Taher Ali

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

bogus complaint dated 12.10.1990 to B.M.C. authorities as defendant no.2 had filed affidavit dated 10.9.1990 in favour of one of the tenants, Smt. Vasanti B. Palan in Suit (ST) 647 of 1990. Defendant no.2, by his Advocates' letter dated 28.10.1990 had placed various facts on record. On 8.11.1990, B.M.C. authorities issued notice under section 351 of the Mumbai Municipal Corporation

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

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 PRL COMMR OF ICOME TAX-2, vs. M/S KKD CO-OP BUILDING SOCY LTD., KAKINADA

Bench: RAMESH RANGANATHAN,KONGARA VIJAYA LAKSHMI

purchased 500 photographs from different studios for obtaining PAN Cards. He also deposed that he got the signatures of his three juniors, namely, Jiwant Kumar Das, Binod Kumar Choudhary and Shri Manoranjan on the bogus files and a draft was prepared in respect of 500 bogus files. Curiously enough, the respondent no.2, while defending the case of “Dehati Ashtahpana Nyas

Commissioner of Income Tax vs. Sri Chirla Rama Reddy, Contract

Appeal is dismissed with costs

Bench: The Hon’Ble Mr. Justice N.K.Sudhindrarao R.S.A.No.70/2007

4. Can there be a declaration when no consequential relief is prayed for in the light of Section 34 of Specific Relief Act? 26. Learned Senior Counsel for appellant Mr.K.N. Phanindra for Smt.Vaishali Hegde would submit 1st defendant neither executed the sale agreement nor the sale deed. It is also submitted that there was no privity of contract between

Principal Commissioner of Income Tax [TDS] vs. M/s.KCIL-MEIL [JV]

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

4. The Revenue filed T.A (VAT) No.677 of 2013 before the Kerala Value Added Tax Appellate Tribunal, Ernakulam (for short, 'Tribunal') The Revenue raised the grounds that the Deputy Commissioner (Appeals)/First Appellate Authority does not have the power or jurisdiction under Section 55 of the Act to remand the case for disposal to the Primary Authority. In other words

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

The appeal stands dismissed

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

The Pr. Commissioner of income Tax-4 vs. M/s. Pavani Structurals Pvt. Ltd.

Accordingly, the appeal fails and is dismissed

Bench: :

purchase of the said scrip by the assessee was managed and fabricated to claim bogus loss ? We have heard Mr. Soumen Bhattacharjee, learned standing counsel appearing for the appellant/revenue. Though notice has been served on the respondent/assessee, none appears for the respondent. There is a delay of 307 days in filing the appeal. Though the explanation offered is not fully

Commissioner of Income tax-VI vs. M/s. Narpat Girji Constructions,

The appeal is allowed

4 SCC 59. iii. Pankaj Mehra & Anr. Vs. State of Maharashtra & Ors. (2000) 2 SCC 756. Analysis and Conclusion: 36. Section 531 provides that any transfer of property whether movable or immovable etc., by the Company within 6 months before the commencement of its winding- up which, had it been made, shall be in the event

The Commissioner of Income Tax-IV vs. M/s. Labhan Finanve Limited

Bench: The Hon'Ble Court Of First Class Magistrate In Cmp No.3644/2008. Annexure Ii: True Copy Of The Statement Filed By The Petitioner Before The Hon'Ble Court Of First Class Magistrate. Annexure Iii: True Copy Of The Survey Report. Annexure Iv: True Copy Of The Statement Filed By The Petitioner Before The Hon'Ble Court Of First Class Magistrate. Annexure V: True Copy Of The Order Of The Judicial First Class Magistrate'S Court I, Rnakulam Dated 23.6.2009. // True Copy // Tks P.S. To Judge

purchased and therefore, they claimed for custody of the gold ornaments for the purpose of enquiry under the provisions of the Income Tax Act. To lend support to the claim for interim custody the first respondent in the latter Crl.M.C. produced 9 documents before the court below. After hearing the three petitions they were disposed of as per Annexure

The Commissioner of Income Tax V vs. M/s.Orchem Industries

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 29 of the Rent Act extends only to correct the errors of law or to remove legal infirmities in the impugned decree passed under the Bombay Rent Act. According to him, if the High Court accepts that the facts as they are referred to in the decision and finds no errors of law or infirmities, than which

M/s Sri Surya Constructions vs. The Income Tax Officer

Bench: P.SAM KOSHY,N.TUKARAMJI

Section 115 of the Code of Civil Procedure, 1908 (hereinafter “CPC”), has been filed on behalf of petitioner seeking the following reliefs:- “(a) Revise the impugned order (Annexure P/1) under Sec.115 of the CPC, 1908 dated 26.09.22 of the Hon'ble ADJ of the South East Saket District Court in Computer Junction vs Gisil Designs (CS DJ 754/20169287116) whereby