Home Highlights August 2013 Year 2013 This

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1. Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

2. Genuineness of purchases - non compliance of notices u/s 133(6) - non of entities declared as Hawala/Bogus dealers by any of the authorities - assessee was able to...

3. Disallowance of Expenses - AO erred in appreciating that nonreply of Section 133(6) notices cannot necessarily lead to disallowance of petty expenses ranging from Rs....

4. Disallowance on account of bogus purchases - Merely because notices u/s 133(6) could not be served on the suppliers, assessee- buyer cannot be put to an inconvenience of...

5. Penalty u/s 271(1)(b) - non compliance of notices u/s 142(1) - the AO was not having the present address of the assessee - when the notice issued u/s 142(1) was not...

6. Addition u/s 68 - AIR information - AO before making such addition on the basis of ITS information from the office of Sub Registrar should have issued a notice u/s....

7. Bogus purchases - addition made towards entire bogus purchase - Assessee has literally wasted precious time of the AO by once again issuing notices and summons to the...

8. Revision u/s 263 by CIT - payment of job work charges - The job work in the form of labour are done on the different locations and once the project is completed, the...

9. Penalty u/s 271(1)(c) - Addition on account of non-genuine gifts - Penalty proceedings are separate and independent. It is an admitted fact that assessee offered the...

10. Additions made on account of bogus purchase - question of rejecting the purchases simply because he did not receive any information, when notices were issued under...

11. Addition u/s 68 - bogus share capital and share premium - The financial statements, Annual Reports as well as bank statements of the all the investors was made available...

12. Penalty u/s. 274 r.w.s. 272(2)(c) - not furnishing the information called for u/s 133(6) - As the assessee has not offered any valid reason for not furnishing the...

13. Addition on the alleged bogus purchase - AO cannot sit back and make the addition by simply relying upon the information obtained from the Sales Tax Department and...

14. Disallowance claimed as bad debt/business loss - rejection of goods in inferior quality by the customers - simply because the customer of the assessee did not respond to...

15. Validity of reopening of assessment u/s 147 - Issuing of notice u/s 148 in the wrong name - it was only a typographical error in first name of the assessee though other...