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2015 (4) TMI 58 - BOMBAY HIGH COURT

2015 (4) TMI 58 - BOMBAY HIGH COURT - TMI - Correctness of the notice issued under section 158BC - Whether Commissioner of Income Tax (Appeals) did not grant full relief to the assessee and restricted it? - 10% of the sum of ₹ 8,98,36,614/- was held to be from inflated purchases by CIT(A) but deleted by tribunal - Held that:- if the books of accounts and other documents relevant for this purpose in terms of the Tribunal's conclusion establish that the assessing officer's conclusion .....

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n to the above extent has been set aside. We do not find that such conclusion and essentially on the facts as are to be found of the impugned order would raise any substantial question of law. The Tribunal's conclusions are consistent with all the documents and their contents. This is nothing but an attempt to seek re-appreciation and re-appraisal of such factual conclusion. - Decided against revenue. - Income Tax Appeal No. 548 of 2008 - Dated:- 17-3-2015 - S. C. Dharmadhikari And A. K. Men .....

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The issue was of correctness of the notice issued under section 158BC of the Income Tax Act, 1961 for the block assessment proceedings. We do not find any substantial question of law arising from a finding in favour of the revenue that a notice initiating block assessment does not suffer from legal infirmities requiring any interference by this Court. 4. The only argument canvassed before us is that the Commissioner of Income Tax (Appeals) did not grant full relief to the assessee and restricte .....

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he block period on the alleged ground that the purchases of raw materials and spare parts from Ramesh Parekh group of concerns were bogus. The Commissioner of Income Tax (Appeals) had before him the cases of M/s. Mul Dent Pro Ltd. and the present one namely M/s.Mul Healthcare Products Ltd. The Commissioner of Income Tax (Appeals) upheld the order in the case of M/s.Mul Dent Pro Ltd. and held that the order in relation to the present assessee passed by the assessing officer contains identical fac .....

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