Bogus purchases - addition made on the basis of Maharastra VAT ...

Court Deletes Income Addition Due to Bogus Invoices by Suppliers, No Actual Delivery of Goods Found.

April 9, 2016

Case Laws Income Tax AT

Bogus purchases - addition made on the basis of Maharastra VAT authorities to the effect that assessee’s suppliers have issued bogus invoices without involving any actual delivery of goods deleted - AT

View Source

← Previous Next →

Bogus purchases - addition made on the basis of Maharastra VAT ...

Court Deletes Income Addition Due to Bogus Invoices by Suppliers, No Actual Delivery of Goods Found.

April 9, 2016

Case Laws Income Tax AT

You may also like:

Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus...

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...

Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

AO determined commission from alleged bogus purchases and sales, made addition. ITAT held AO should have either rejected books of account and determined actual profit,...

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

The assessing officer (AO) made additions to the assessee's income based on alleged bogus purchases and unexplained investments. The key points are: Addition of Rs....

Validity of input tax credit (ITC) u/s 16 of the UP GST Act hinges on compliance with specified conditions to avoid double taxation. The burden lies on the dealer to...

Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

Addition u/s 43B - “actual payment” means “actual payment” and not actual receipt and delivery of the currency by the two parties transacting when they are creditor and...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

The ITAT partially allowed the assessee's appeal, directing deletion of several additions and modifications to income calculations. Key outcomes include: (1) commission...

The Delhi High Court addressed issues related to reimbursement of software costs, reimbursement of expatriate salaries, and lease registration charges. The court held...

Grant of Bail - bogus invoices - issuance of fake invoices without actual delivery of goods - The fact of the matter is that accused has himself disclosed that all...

Valuation - transaction value of food supplements imported - undervaluation and mis-declaration of goods - rejection of declared value - In the present case, it is...

Quick Updates: