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

purchases was made through banking channels.", "result": "Allowed", "sections": [ "Section 147", "Section 148", "Section 143(2)", "Section 142(1)", "Section 68", "Section 69C" ], "issues": "Whether the disallowance of entire bogus

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

bogus claim goes against the\nprinciples of Section 68 and 69C of the Income Tax Act. The entire purchases\nshown

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

bogus claim goes against the\nprinciples of Section 68 and 69C of the Income Tax Act. The entire purchases\nshown

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

bogus claim goes against the\nprinciples of Section 68 and 69C of the Income Tax Act. The entire purchases\nshown

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

purchases at 10%.", "result": "Dismissed", "sections": [ "Section 132", "Section 133A", "Section 147", "Section 148", "Section 142(1)", "Section 132(1)", "Section 132(4)", "Section 131", "Section 68", "Section 69C" ], "issues": "Whether the Ld. CIT(A) erred in estimating profit at 30% on unaccounted sales and in allowing partial disallowance of bogus

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

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

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

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

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

DY. 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

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

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