DCIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. GVA INDUSTRIES PVT. LTD., DHAMTARI

section 147, suspecting accommodation entries for steel purchases from three suppliers. The AO added Rs. 1,55,36,109 for bogus purchases and Rs. 5

DCIT, CENTRAL CIRCLE-1, VISAKHAPATNAM vs. GVA INDUSTRIES PVT. LTD., DHAMTARI

5\nI.T.A.Nos. 137, 138 & 139/VIZ/2025\nI.T.A.Nos.221, 222 & 223 /VIZ/2025\nM/s. GVA Industries Private Limited --\ncompany could not rebut all the discrepancies noted by the AO.The Ld. CIT(A),\non the other hand, had allowed relief to the assessee company to the tune of\n92% of such unproved purchases. The Ld. CIT(A) ought not to have allowed\nany relief

GVA INDUSTRIES PRIVATE LIMITED,CHHATTISGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

5\nI.T.A.Nos.137, 138 & 139/VIZ/2025\nI.T.A.Nos.221, 222 & 223 /VIZ/2025\nM/s. GVA Industries Private Limited\ncompany could not rebut all the discrepancies noted by the AO.The Ld. CIT(A),\non the other hand, had allowed relief to the assessee company to the tune of\n92% of such unproved purchases. The Ld. CIT(A) ought not to have allowed\nany relief

GVA INDUSTRIES PRIVATE LIMITED,CHHATTISGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

5\nI.T.A.Nos.137, 138 & 139/VIZ/2025\nI.T.A.Nos.221, 222 & 223 /VIZ/2025\nM/s. GVA Industries Private Limited\ncompany could not rebut all the discrepancies noted by the AO.The Ld. CIT(A),\non the other hand, had allowed relief to the assessee company to the tune of\n92% of such unproved purchases. The Ld. CIT(A) ought not to have allowed\nany relief

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section 36(1)(iii) of the Act which states that the amount of interest paid in respect of capital borrowed for acquisition of asset till the date on which the asset shall put to use shall not be allowed as deduction. He argued that since the asset is itself bogus in nature, interest paid on the Term Loan for purchase

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section 36(1)(iii) of the Act which states that the amount of interest paid in respect of capital borrowed for acquisition of asset till the date on which the asset shall put to use shall not be allowed as deduction. He argued that since the asset is itself bogus in nature, interest paid on the Term Loan for purchase

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section 36(1)(iii) of the Act which states that the amount of interest paid in respect of capital borrowed for acquisition of asset till the date on which the asset shall put to use shall not be allowed as deduction. He argued that since the asset is itself bogus in nature, interest paid on the Term Loan for purchase

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section 36(1)(iii) of the Act which states that the amount of interest paid in respect of capital borrowed for acquisition of asset till the date on which the asset shall put to use shall not be allowed as deduction. He argued that since the asset is itself bogus in nature, interest paid on the Term Loan for purchase

MAA MAHAMAYA INDUSTRIES LIMITED,CHHATTISGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, VISAKHAPATNAM

In the result, appeal of the assessee is allowed

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

section 36(1)(iii) of the Act which states that the amount of interest paid in respect of capital borrowed for acquisition of asset till the date on which the asset shall put to use shall not be allowed as deduction. He argued that since the asset is itself bogus in nature, interest paid on the Term Loan for purchase

DEPUTY COMMISSIONER OF INCOME TAX, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD, GUNTUR

Section 68 and 69C of the Income\nTax Act. The entire purchases shown on the basis of fictitious invoices have\nbeen debited in the trading account Since the transaction of Rs.2,92,93,288/\nrepresented alleged purchases -from bogus suppliers it was not incumbent\non it to restrict the disallowance to only Rs.73,23,322/-" The CIT(A) ought\nPage

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

bogus sales and purchase bills to various entities without any actual supply of goods. The A.O., based on the aforesaid information holding a bonafide belief that the income of the assessee of Rs. 1 crore that was chargeable to tax had escaped assessment, initiated proceedings under Section 147 of the Act. Notice under Section 148 of the Act, dated

ACIT, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

bogus sales and purchase bills to various entities without any actual supply of goods. The A.O., based on the aforesaid information holding a bonafide belief that the income of the assessee of Rs. 1 crore that was chargeable to tax had escaped assessment, initiated proceedings under Section 147 of the Act. Notice under Section 148 of the Act, dated

THE INCOME TAX OFFICER, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

bogus sales and purchase bills to various entities without any actual supply of goods. The A.O., based on the aforesaid information holding a bonafide belief that the income of the assessee of Rs. 1 crore that was chargeable to tax had escaped assessment, initiated proceedings under Section 147 of the Act. Notice under Section 148 of the Act, dated

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), VIJAYAWADA, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

bogus sales and purchase bills to various entities without any actual supply of goods. The A.O., based on the aforesaid information holding a bonafide belief that the income of the assessee of Rs. 1 crore that was chargeable to tax had escaped assessment, initiated proceedings under Section 147 of the Act. Notice under Section 148 of the Act, dated

ACIT, CIRCLE-1(1),, VIJAYAWADA vs. VEDMUTHA ELECTRICALS INDIA PRIVATE LIMITED, VIJAYAWADA

In the result, all the captioned appeals filed by the Revenue are allowed for statistical purposes

Bench: Us:

bogus sales and purchase bills to various entities without any actual supply of goods. The A.O., based on the aforesaid information holding a bonafide belief that the income of the assessee of Rs. 1 crore that was chargeable to tax had escaped assessment, initiated proceedings under Section 147 of the Act. Notice under Section 148 of the Act, dated

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD., GUNTUR

Section 68 and 69C of the Income\nTax Act. The entire purchases shown on the basis of fictitious invoices have\nbeen debited in the trading account Since the transaction of Rs.2,92,93,288/\nrepresented alleged purchases -from bogus suppliers it was not incumbent\non it to restrict the disallowance to only Rs.73,23,322/-" The CIT(A) ought\nPage

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR vs. VENKATRAMA POULTRIES PVT. LTD., GUNTUR

Section 68 and 69C of the Income\nTax Act. The entire purchases shown on the basis of fictitious invoices have\nbeen debited in the trading account Since the transaction of Rs.2,92,93,288/\nrepresented alleged purchases -from bogus suppliers it was not incumbent\non it to restrict the disallowance to only Rs.73,23,322/-" The CIT(A) ought\nPage

POLISETTY SOMASUNDARAM,GUNTUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUNTUR

In the result, appeal of the assessee for the AY 2020-21 is allowed

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.172 To 180/Viz/2023 ("नधा"रणवष"/ Assessment Year : 2012-13 To 2020-21) M/S. Polisetty Somasundaram, Vs. The Deputy Commissioner Of D.No. 8-24-31, Main Road, Income Tax, Mangalagiri Road, Central Circle-1, Guntur – 522001. Guntur. Pan: Aacfp 7251 J (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Sri M.V. Prasad, Ar ""याथ"क"ओरसे/ Respondent By : Sri Mn Murthy Naik, Cit-Dr

section 132(4A) that deem that the contents of the seized material are true.” 53. On the above grounds, the Ld. AR argued that the assessee has purchased tobacco from grey market by cash which was already included in the purchases while admitting the gross profit during the filing of return of income. The Ld. AR admitted that this grey