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34 results for “bogus purchases”+ Set Off of Lossesclear

Sorted by relevance

Mumbai2,014Delhi1,059Kolkata475Jaipur347Ahmedabad274Chennai253Surat162Bangalore152Pune144Chandigarh143Indore115Hyderabad108Nagpur75Cochin58Raipur58Rajkot57Calcutta50Guwahati47Lucknow42Visakhapatnam34Cuttack32Amritsar32Jodhpur22Allahabad14Patna12Karnataka10Telangana10Agra7Varanasi6Ranchi5SC4Dehradun4Panaji3Orissa2ASHOK BHAN DALVEER BHANDARI1Jabalpur1

Key Topics

Section 143(3)35Section 10A21Addition to Income20Section 14A18Section 14716Section 14816Section 143(2)12Section 13112Disallowance

SMT. L SUDHA BALA, L/R OF LATE SRI L.NARSA REDDY,GUNTUR vs. THE DCIT, SPECIAL RANGE GUNTUR, GUNTUR

In the result, the appeals of the assessee are dismissed

ITA 261/VIZ/2012[1985-86]Status: DisposedITAT Visakhapatnam07 Dec 2018AY 1985-86

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.260 & 261/Viz/2012 (धििाारण िर्ा/ Assessment Years :1984-85 & 1985-86 Respectively) L.Sudha Bala Vs. Dy.Commissioner Of L/R Of Late Sri L Narasa Reddy Income Tax Prop.Sri Venkateswara Agro Chemicals Special Range Industries Guntur 2-14-101, Syamala Nagar 2Nd Lane, Guntur [Pan : Acgpl2351P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri C.Subrahmanyam, ARFor Respondent: Smt. Suman Malik, DR
Section 143(3)Section 147Section 148Section 40A(3)

losses of Rs.48,120/- and Rs.295/- respectively for the A.Ys 1984-85 and 1985-86 respectively. The assessments for the A.Ys 1984-85 and 1985-86 were completed u/s 143(3) and 143(1) of the Income Tax Act, 1961 (hereinafter called as ‘Act’) vide order dated 12.04.1985 and 08.08.1986 respectively. Subsequently, the Assessing Officer (AO) reopened the assessments

Showing 1–20 of 34 · Page 1 of 2

11
Section 142(1)8
Exemption8
Bogus Purchases7

SMT. L SUDHA BALA, L/R OF LATE SRI L.NARSA REDDY,GUNTUR vs. THE DCIT, SPECIAL RANGE GUNTUR, GUNTUR

In the result, the appeals of the assessee are dismissed

ITA 260/VIZ/2012[1984-85]Status: DisposedITAT Visakhapatnam07 Dec 2018AY 1984-85

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.260 & 261/Viz/2012 (धििाारण िर्ा/ Assessment Years :1984-85 & 1985-86 Respectively) L.Sudha Bala Vs. Dy.Commissioner Of L/R Of Late Sri L Narasa Reddy Income Tax Prop.Sri Venkateswara Agro Chemicals Special Range Industries Guntur 2-14-101, Syamala Nagar 2Nd Lane, Guntur [Pan : Acgpl2351P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri C.Subrahmanyam, ARFor Respondent: Smt. Suman Malik, DR
Section 143(3)Section 147Section 148Section 40A(3)

losses of Rs.48,120/- and Rs.295/- respectively for the A.Ys 1984-85 and 1985-86 respectively. The assessments for the A.Ys 1984-85 and 1985-86 were completed u/s 143(3) and 143(1) of the Income Tax Act, 1961 (hereinafter called as ‘Act’) vide order dated 12.04.1985 and 08.08.1986 respectively. Subsequently, the Assessing Officer (AO) reopened the assessments

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

In the result, appeal of the assessee is allowed

ITA 143/VIZ/2025[2011-12]Status: DisposedITAT Visakhapatnam13 May 2025AY 2011-12

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

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

purchase of bogus plant and machinery was utilized but the same has been reintroduced into the business of the assessee company and hence the funds are utilized for the purpose of business and therefore, the interest payment cannot be disallowed. The Ld. AO did not accept the submissions of the assessee and thereafter proceeded to disallow

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

In the result, appeal of the assessee is allowed

ITA 142/VIZ/2025[2010-11]Status: DisposedITAT Visakhapatnam13 May 2025AY 2010-11

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

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

purchase of bogus plant and machinery was utilized but the same has been reintroduced into the business of the assessee company and hence the funds are utilized for the purpose of business and therefore, the interest payment cannot be disallowed. The Ld. AO did not accept the submissions of the assessee and thereafter proceeded to disallow

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

In the result, appeal of the assessee is allowed

ITA 141/VIZ/2025[2009-10]Status: DisposedITAT Visakhapatnam13 May 2025AY 2009-10

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

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

purchase of bogus plant and machinery was utilized but the same has been reintroduced into the business of the assessee company and hence the funds are utilized for the purpose of business and therefore, the interest payment cannot be disallowed. The Ld. AO did not accept the submissions of the assessee and thereafter proceeded to disallow

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

In the result, appeal of the assessee is allowed

ITA 144/VIZ/2025[2012-13]Status: DisposedITAT Visakhapatnam13 May 2025AY 2012-13

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

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

purchase of bogus plant and machinery was utilized but the same has been reintroduced into the business of the assessee company and hence the funds are utilized for the purpose of business and therefore, the interest payment cannot be disallowed. The Ld. AO did not accept the submissions of the assessee and thereafter proceeded to disallow

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

In the result, appeal of the assessee is allowed

ITA 140/VIZ/2025[2008-09]Status: DisposedITAT Visakhapatnam13 May 2025AY 2008-09

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

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

purchase of bogus plant and machinery was utilized but the same has been reintroduced into the business of the assessee company and hence the funds are utilized for the purpose of business and therefore, the interest payment cannot be disallowed. The Ld. AO did not accept the submissions of the assessee and thereafter proceeded to disallow

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

ITA 35/VIZ/2025[2014-15]Status: DisposedITAT Visakhapatnam30 Jun 2025AY 2014-15

Bench: Us:

For Appellant: None
Section 131Section 147

purchase transactions, raised serious doubts regarding the authenticity of the subject loan transaction in question. Vedumutha Electricals India Private Limited. 20. Considering the totality of the facts involved in the present case before us, we are of the firm conviction that the CIT(A) ought not to have summarily accepted the claim of the assessee company that it had raised

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

ITA 36/VIZ/2025[2016-17]Status: DisposedITAT Visakhapatnam30 Jun 2025AY 2016-17

Bench: Us:

For Appellant: None
Section 131Section 147

purchase transactions, raised serious doubts regarding the authenticity of the subject loan transaction in question. Vedumutha Electricals India Private Limited. 20. Considering the totality of the facts involved in the present case before us, we are of the firm conviction that the CIT(A) ought not to have summarily accepted the claim of the assessee company that it had raised

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

ITA 37/VIZ/2025[2017-18]Status: DisposedITAT Visakhapatnam30 Jun 2025AY 2017-18

Bench: Us:

For Appellant: None
Section 131Section 147

purchase transactions, raised serious doubts regarding the authenticity of the subject loan transaction in question. Vedumutha Electricals India Private Limited. 20. Considering the totality of the facts involved in the present case before us, we are of the firm conviction that the CIT(A) ought not to have summarily accepted the claim of the assessee company that it had raised

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

ITA 34/VIZ/2025[2013-14]Status: DisposedITAT Visakhapatnam30 Jun 2025AY 2013-14

Bench: Us:

For Appellant: None
Section 131Section 147

purchase transactions, raised serious doubts regarding the authenticity of the subject loan transaction in question. Vedumutha Electricals India Private Limited. 20. Considering the totality of the facts involved in the present case before us, we are of the firm conviction that the CIT(A) ought not to have summarily accepted the claim of the assessee company that it had raised

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

ITA 38/VIZ/2025[2017-18]Status: DisposedITAT Visakhapatnam30 Jun 2025AY 2017-18

Bench: Us:

For Appellant: None
Section 131Section 147

purchase transactions, raised serious doubts regarding the authenticity of the subject loan transaction in question. Vedumutha Electricals India Private Limited. 20. Considering the totality of the facts involved in the present case before us, we are of the firm conviction that the CIT(A) ought not to have summarily accepted the claim of the assessee company that it had raised

INCOME TAX OFFICER, INCOME TAX DEPARTMENT, VISAKHAPATNAM vs. QUALITY STEEL SHOPPE PRIVATE LIMITED, VISAKHAPATNAM

In the result, the Cross Objection No

ITA 454/VIZ/2024[2018-19]Status: DisposedITAT Visakhapatnam14 Nov 2025AY 2018-19

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.454/Viz/2024 ("नधा"रण वष"/Assessment Year: 2018-19) Income Tax Officer, Vs. Quality Steel Shoppe Ward-2(1), Private Limited, Visakhapatnam. Visakhapatnam. Pan: Aaacq1115D (Appellant) (Respondent) C.O. No. 18/Viz/2024 (In आ.अपी.सं /454/Viz/2024) ("नधा"रण वष"/Assessment Year: 2018-19)

For Appellant: Sri GVN Hari, AdvocateFor Respondent: Sri Badicala Yadagiri
Section 144Section 144BSection 147Section 148Section 148ASection 151A

bogus purchases, the assessee company vide its reply dated 08/01/2024 rebutted the same. It was submitted by the assessee company that during the Financial Year 2017-18, M/s. Steel Exchange India Limited (SEIL) had sold 998.870 mts of MS bars to M/s. Hero Wiretex Private Limited but had not taken the delivery of inventory due to non-payment of sale

MS USHA TUBUS & PIPES PVT LTD.,,VISAKHAPATNAM vs. THE ACIT,, VISAKHAPATNAM

In the result, the appeal of the assessee is allowed

ITA 48/VIZ/2015[2004-05]Status: DisposedITAT Visakhapatnam28 Nov 2018AY 2004-05

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.48/Viz/2015 (धििाारण िर्ा/ Assessment Year: 2004-2005) M/S Usha Tubes & Pipes Pvt. Ltd. Vs. Asst.Commissioner Of D.No.11-8-34 Income Tax Daspalla Hills Cicle-5(1) Visakhapatnam Visakhapatnam [Pan : Aaacu4259N] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt. Suman Malik, DR
Section 143(1)Section 271(1)(c)Section 43(5)Section 73

bogus speculation income. Briefly stated facts are that the assessee has disclosed speculation profit to the extent of Rs.53,34,463/- in the audited profit 10 I.T.A. No.48/Viz/2015 M/s Usha Tubes & Pipes Pvt. Ltd., Visakhapatnam and loss account for the year ending 31.03.2009 and set off the same against brought forward speculation loss of earlier years and the difference

SRINIVASA HAIR INDUSTRIES,ELURU vs. ASSISTANT COMMISSIONER OF INCOME TAX., ELURU

In the result, appeal of the assessee is allowed

ITA 194/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam03 Jan 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.194/Viz/2018 (ननधधारण वर्ा/Assessment Year:2013-2014) M/S Srinivasa Hair Industries Asst.Commissioner Of P.B.No.8 Income Tax Eastern Street Circle-1 Eluru Eluru [Pan : Aalfs8434M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By : Shri D.K.Sonowal, Citdr

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CITDR
Section 143(3)Section 263Section 36(1)(iii)Section 41(1)

bogus nature of transaction with tangible evidence. Merely on the suspicion it is unjustified to hold that the credit is not bonafide. Since the issue was verified by the AO at the time of assessment, the purchases and sales were accepted and the payments were made through bank cheques, which the AO has verified all the facts during the course

INCOME TAX OFFICER, WARD-2(5), VISAKHAPATNAM vs. DUVVURU REKHA REDDY, KURMANNAPALEM

In the result, the cross objection filed by the assessee is allowed

ITA 450/VIZ/2024[2017-18]Status: DisposedITAT Visakhapatnam24 Sept 2025AY 2017-18

Bench: Shri Ravish Sood, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year:2017-18) Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam -530046 Andhra Pradesh [Pan:Afdpr3780C] सी.ओ सं. / C.O. No. 17/Viz/2024 [आयकरअपीलसं.से उत्पन्न/I.T.A.No.450/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2017-18)] Vs. Income Tax Officer –Ward– 2(5) Duvvuru Rekha Reddy 2Nd Floor, Infinity Towers Flat No. 402, Vizag Profile Towers Sankaramatam Road Kurmannapalem Visakhapatnam - 530016 Visakhapatnam - 530046 Andhra Pradesh [Pan:Afdpr3780C]

Section 10(38)Section 147Section 148Section 68

bogus LTCG/STCL and Business loss entries through various penny scrips. M/s.Steel Exchange India Ltd was identified as one of such scrip and the assessee was identified as one of beneficiaries who entered into transaction in the said scrip to the tune of Rs.3,87,36,001/-. Subsequently, notice under section 148 dated 28.07.2022 was duly issued. In response, assessee filed

SEERAM PADMANABHA JEWELLERS PRIVATE LIMITED,,ELURU vs. ITO, WARD-1,, ELURU

In the result, the appeal of the assessee is allowed

ITA 468/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam06 Nov 2018AY 2013-2014

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.468/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2013-2014) M/S Seeram Padmanabha Vs. Income Tax Officer Jewellers Pvt. Ltd. Ward-1 D.No.6A-2-6, Near Gandhi Statue Eluru Southern Street Eluru [Pan :Aaqcs9501F] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Suman Malik, DR
Section 68

loss account and submitted that the total turnover of the assessee during the impugned assessment year was 282.15 crores and the 7 I.T.A. No.468 /Viz/2017 M/s Seeram Padmanabha Jewellers (P) Ltd., Eluru advances received from the customers was only Rs.1,08,90,000/- which was less than 0.38% and argued there is no necessity for the assessee to introduce cash

GRANDHI SRI VENKATA AMARENDRA,ELURU vs. ACIT, CENTRAL CIRCLE,, VISAKHAPATNAM

In the result appeals of the assessee for the assessment year 2013-14

ITA 23/VIZ/2018[2013-14]Status: DisposedITAT Visakhapatnam21 Aug 2018AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपीलसं./I.T.A.No.23 & 24/Viz/2018 (धििाारण िर्ा/Assessment Year:2013-14 & 2014-15) Sri Grandhi Sri Venkata Amarendra Vs. Asst.Commissioner Of C/O Vaibhav Jewllers Income Tax, Main Road Central Circle-1 Eluru Visakhapatnam [Pan : Abipa7175R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./I.T.A.No.50/Viz/2018 (धििाारण िर्ा/Assessment Year:2014-15) Asst.Commissioner Of Vs. Sri Grandhi Sri Venkata Income Tax, Amarendra Central Circle-1 C/O Vaibhav Jewellers Visakhapatnam Main Road Eluru [Pan : Abipa7175R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 04.07.2018 घोषणध की तधिीख/Date Of Pronouncement : 21 .08.2018

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 68

bogus liability to make the addition. Accordingly, we hold that the Ld.CIT(A) erred in upholding the addition made by the AO, therefore, we set aside the order of the Ld.CIT(A) and allow the appeal of the assessee. The appeal of the assessee on this ground is allowed. 13. Ground No.8 is related to the disallowance of credit card

GRANDHI SRI VENKATA AMARENDRA,ELURU vs. ACIT, CENTRAL CIRCLE-1,, VISAKHAPATNAM

In the result appeals of the assessee for the assessment year 2013-14

ITA 24/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam21 Aug 2018AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपीलसं./I.T.A.No.23 & 24/Viz/2018 (धििाारण िर्ा/Assessment Year:2013-14 & 2014-15) Sri Grandhi Sri Venkata Amarendra Vs. Asst.Commissioner Of C/O Vaibhav Jewllers Income Tax, Main Road Central Circle-1 Eluru Visakhapatnam [Pan : Abipa7175R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./I.T.A.No.50/Viz/2018 (धििाारण िर्ा/Assessment Year:2014-15) Asst.Commissioner Of Vs. Sri Grandhi Sri Venkata Income Tax, Amarendra Central Circle-1 C/O Vaibhav Jewellers Visakhapatnam Main Road Eluru [Pan : Abipa7175R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 04.07.2018 घोषणध की तधिीख/Date Of Pronouncement : 21 .08.2018

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 68

bogus liability to make the addition. Accordingly, we hold that the Ld.CIT(A) erred in upholding the addition made by the AO, therefore, we set aside the order of the Ld.CIT(A) and allow the appeal of the assessee. The appeal of the assessee on this ground is allowed. 13. Ground No.8 is related to the disallowance of credit card

THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1), , VISAKHAPATNAM vs. ALFA ELECTRONIC SERVICES(INDIA) PRIVATE LIMITED,, VISAKHAPATNAM

In the result, appeal filed by the revenue is allowed

ITA 53/VIZ/2021[2015-16]Status: DisposedITAT Visakhapatnam30 Oct 2024AY 2015-16

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.Nos. 50, 51 & 53/Viz/2021 (निर्धारण वर्ा/ Assessment Years: 2013-14, 2014-15 & 2015-16) Acit – Circle – 1(1) V. M/S. Alfa Electronic Services (India) Prathyakshakar Bhavan, Sector – 8 Private Limited Mvp Double Road, 49-22-5, Sri Sai Mansions Visakhapatnam – 530017 Lalitha Nagar, Visakhapatnam – 530016 Andhra Pradesh Andhra Pradesh [Pan: Aahca3583E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)

Section 131Section 133ASection 142(1)Section 143(2)Section 143(3)Section 43BSection 68

purchases as the onus is on assessee to prove the creditworthiness and Identity of the creditors but the assessee failed to prove the same during the assessment proceedings. 5. The Ld.CIT(A) ought to have considered the recent judgments like Hon'ble Gujarat High Court judgment in the case of CIT Vs Gujarat State Road Transport Corporation