2024 Bogus sales case laws

Bogus sales case laws

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WebMar 30, 2024 · When these four conditions are satisfied, i.e. ( i) sales are recorded in the books ( ii) books are audited ( iii) the sales are reflected in the stock register and ( iv) sales matches with the sales declared to the VAT department, the onus lying on the assessee is discharged. 2.1 For discharging the onus and for proving that cash deposit in ... WebThe genesis of the case is the Information which was received by the A.O. from DGIT (Inv.), Mumbai that there are some parties who are engaged in hawala transactions and are involved in issuing bogus bills for sale of material without delivery of goods, which information was based on information received from Maharashtra Sales Tax Authorities ...

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WebMay 8, 2024 · The Income Tax Officer in this case has made 100% addition on account of bogus purchase resulting in disallowance of Rs. 56,085/-. Upon assessee’s appeal ld. … WebOct 23, 2009 · Case laws on bogus purchases in favour of assessee Case law: 16 DTR 278 CIT V/s SINUJA FOODS P LTD (2008 (10) TMI 61 - HIGH COURT ... consumption or sale of goods suspected, revenue therefrom credited in P & l a/c ec. External and third party evidences like transporters note, insurance policy cover, etc. ill be highly useful. A party … jaxon smith-njigba stats

Case laws - bogus purchases, Income Tax

Web•Similar provision in VAT law - On Quest Merchandising India Pvt.Ltd. Vs.Commissioner of Trade – Delhi(2024) HC struck down a similar provision under Delhi VAT Act as violative of Article 14 . SLP dismissed with rider that it can be used in case only in Fraud cases. – •Bombay HC decision in case of Mahalaxmi Cotton Ginning Pressing and Oil WebMar 10, 2024 · 3 conﬂict of laws cases materials and problems google books web feb 26 2024 in her casebook conﬂict of laws now in its second edition internationally WebJan 25, 2024 · The A.O. thus made an addition of Rs. 1,42,34,578/- on account of alleged bogus purchases from Hawala dealers/parties. An appeal was preferred by the assessee before the CIT (Appeals). The appeal was allowed interalia on the ground that the A.O. having not disputed the sales, it was not a case of bogus purchases and that it was at … kutan bakery

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WebApr 27, 2024 · Thus, GST is a good law but its bad implementation leads to increase in cases of bogus/fake billing. Further, Government has made amendments in law to curb this fake billing but the strict actions brings the innocent taxpayers into difficulty. The harassment by the department on these bonafide taxpayer. WebThe case law quoted for disallowing 12.50 per cent is applicable for the trading concerns and not to manufacturing concerns. The assessee in this case was still benefiting being able to reduce its income by ` 11.54 crores (i.e. 87.5 per cent of bogus purchases). (ii) In case of M/s Hitech Engineers, the assessee had shown bogus jaxon smith-njigba rivalsWebMay 4, 2024 · I purchased silver bullion Sunday and today (5/4/22) and was charged a “sales tax” at checkout. The items were listed in the correct category by the seller which is sales tax exempt. The amount being charged is very small; $0.28 on purchase of $79.72 (0.003%) and $0.21 on $41.00 (0.005%). I have nev... kut and beauty

"WebJan 4, 2024 · The Assessing Officer has made 25% addition on account of bogus purchase amounting to Rs.15,56,480. The Coram consisting of an Accountant Member, Shamim Yahya clarified that it is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. The rationale being no sales is possible without … " - Bogus sales case laws

Bogus sales case laws

Assessing Officer was justified in treating the purchase as bogus ...

WebDec 15, 2024 · The Appellate Tribunal observed that there was information from the Sales Tax Department, Government of Maharashtra that the assessee had obtained bogus … WebAug 18, 2024 · Income Tax Appellate Tribunal, Hyderabad: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire …

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WebJan 4, 2024 · Facts of the Case. Assessee, an individual, was engaged in the business of trading in industrial oil and transport services. During the relevant assessment year, the Assessing Officer (AO) received certain information from the sales tax department regarding the beneficiaries of bogus purchases. WebFeb 11, 2015 · Here, the legislative intent is clear. A.R.S. § 13-311, as amended, is entitled "Obtaining money or property by bogus check or other means * * *." The body of the statute specifically enumerates the various means: (1) false or bogus check, (2) any other printed, written or engraved instrument, (3) spurious coin or metal.

Web4) The Ld. A.O has calculated the said bogus sale on the basis of surmises and conjectures and he has not brought any evidence on record against the so called bogus sale and the addition is bad-in-law. 5) The Ld. A.O has suo-moto calculated the cash sales of Rs.1,35,43,034 as bogus sales, as per Para-3.7 of his order by taking average cash … WebAug 12, 2024 · It is settled law from Bombay High Court in the case of Nikunj Eximp enterprises (in writ petition no 2860, order dt 18.6.2014) that when sales are not …

WebJun 6, 2024 · It is settled law that when sales are not doubted hundred percent disallowance for bogus purchase cannot be done. This...circumstances of the case a … WebBOGUS Definition & Legal Meaning. Definition & Citations: ... The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If …

Webas a company the property will be the tenant s main home assured tenancy practical law - Aug 03 2024 web assured tenancy a tenancy of a residential property granted by a …

Webbogus definition: 1. false, not real, or not legal: 2. false, not real, or not legal: 3. (of something) not what it…. Learn more. jaxon smith njigba stats 2021WebJun 12, 2024 · Overview in short : Admittedly, there cannot be any sale without purchases and only profit element emdedded in bogus purchases could be added. As assessee has already declared gross profit @ 4.5%, there was no infirmity in granting benefit of the GP already declared by the assessee, because in competitive world of trade, there may not … jaxon smith njigba vs utahWebThe SC referred to the decisions of the SC in the case of Kale Khan Mohammad Hanif V CIT1, Sumati Dayal Vs. CIT2, ... are bogus entries of name lenders.; If the enquiries and investigations reveal that the identity of the creditors appears to be dubious or doubtful, or lack creditworthiness, then the genuineness of the transaction could not be ... kutan candidiasis hva er detWebDev Milk Foods Pvt. Ltd vs. Addl CIT (ITAT Delhi) S. 143 (3)/ 292BB: Under CBDT Instruction No.5/2016, a case earmarked for 'Limited Scrutiny' cannot be taken for 'Complete Scrutiny' unless the AO forms a "reasonable view" that there is a possibility of under assessment of income. The objective of the instruction is to (i) prevent fishing and ... jaxon smith-njigba vs utahWebOct 21, 2024 · INCOME TAX : Where Assessing Officer made addition by disallowing expenses on purchases on ground that an information was received from sales tax department that assessee was beneficiary of accomodation entries on account of bogus purchases, since Assessing Officer had not disputed corresponding sales transactions, kutan bedeutungWebSep 1, 2024 · That the ld.CIT (A), swayed by the so-called prevailing menace of bogus bills, misconstrued the facts and the legal position of this case, to uphold the addition of … jaxon \u0026 james capsWebApr 20, 2024 · The menace of fake or bogus invoices is so rampant in India these days that few cases get reported everyday from any part of the country. Since GST is a tax law which is implemented, complied with and administered online, it becomes relatively easier for the tax regulators to find out transactions outside the system - unrecorded transactions ... kutandara poptain