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Bombay High Court Dismisses Assessee's Appeals in Bogus Purchases Case — Concurrent Findings of Fact Not Interfered With Under Section 260A of Income Tax Act, 1961. Addition of 10% of Gross Profit Margin on Unproved Purchases Upheld as No Substantial Question of Law Arises.

The case involves six Income Tax Appeals filed by Refrigerated Distributors Pvt Ltd (now known as Partytime Ice Pvt Ltd) against the Deputy Commission...

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Bombay High Court Allows Assessee's Appeal in Bogus Purchases Case — Disallowance of 10% Purchases Set Aside. ITAT's finding that AO's order was not based on cogent evidence required full deletion of addition, not partial disallowance.

The case involves three Income Tax Appeals filed by the Assessee, Ashok Kumar Rungta, challenging the ITAT's order dated August 9, 2017, which upheld ...

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Bombay High Court Dismisses Revenue's Challenge to Settlement Commission Order in Income Tax Case. ITSC's order under Section 245D(4) of Income Tax Act, 1961 upheld as valid and not perverse.

The Commissioner of Income Tax, Central – II, Mumbai, filed a writ petition challenging an order dated 31st July 2013 passed by the Income Tax Settl...

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Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case - Upholds ITAT's Estimation of Profit. Estimation of profit on bogus purchases at 12.5% upheld as reasonable; entire purchase amount cannot be added when purchases are not disputed as genuine.

The case involves two appeals filed by the Pr. Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, challenging the order of the...

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Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case, Upholds ITAT's 25% Disallowance. Court holds that when purchases are not bogus but from non-genuine parties, estimation of profit element at 25% is reasonable.

The present appeal was filed by the Pr. Commissioner of Income Tax-19 under Section 260A of the Income Tax Act, 1961 against the order dated 03rd May,...

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Bombay High Court Dismisses Revenue's Writ Petition Challenging Settlement Commission's Order Allowing Settlement Application. Settlement Commission's Finding of Full and True Disclosure of Income by Assessee in Case of Alleged Bogus Purchases Upheld Under Section 245D of Income Tax Act, 1961.

The Commissioner of Income Tax, Mumbai, filed a writ petition under Article 226 of the Constitution of India challenging two orders passed by the Inco...