Simit P.Sheth L/H Of Late Pankaj ... vs Assessee on 12 December, 2012
IN THE INCOME TAX APPELLATE TRIBUNAL
AT AHMEDABAD ... 2010
A.Y.:-2005-06
Simit Pankaj Sheth Income Tax Officer Ward
L/H of Late Pankaj J. Sheth 2(2) Baroda
755/G, Gore
Simit P.Sheth L/H Of Late Pankaj ... vs Assessee
आयकर अपीलीय अिधकरण,
अिधकरण, अहमदाबाद Ûयायपीठ 'बी
बी'
बी Ûयायपीठ'
Ûयायपीठ अहमदाबाद ... 3293/Ahd/2009
िनधा[रण वष[ / Assessment Year:-2006-07
Shri Simit P Sheth L/R बनाम Incom e Tax Officer,
of Shri Pankaj
Gujarat High Court in the case of CIT vs. Simit P. Sheth 356 ITR 451
(Guj) estimated the profit element embedded in the said purchases ... Gujarat High Court in the case of Simit P. Sheth (supra), however in
appeal the Ld. CIT (A) has restricted the addition
Gujarat in the case of
Commissioner of Income Tax Vs. Simit P. Sheth 356 ITR 451
(Guj) worked out the profit as regards the bogus ... High
Court of Gujarat in the case of Simit P. Sheth (supra), worked out the
profit element involved in making of such purchases
Gujarat High Court in the case of CIT vs. Simit P. Sheth
{355 ITR 290 (Guj)}estimated profit on alleged bogus purchases
ranging from ... Gujarat
High Court in the case of CIT vs. Simit P. Sheth {355 ITR 290
(Guj)} scaled down estimation of profit on alleged bogus purchases
purchases by following the decision rendered in the case of Simit P Sheth (356
ITR 451)(Guj).
7. The Ld A.R submitted that ... Gujarat High Court in the case of Simit P Sheth (supra).
For the sake of convenience, we extract below the decision rendered
High Court in the case of Commissioner of Income Tax Vs.
Simit P. Sheth [2013] 38 taxmann.com 385 (Gujrat), order dated
16.01.2013. The department ... Simit Sheth (38
taxmann.com 385) (Gujarat). In that case, Assessing
Officer having found that some of alleged suppliers of steel
to assessee (Simit P
Gujarat High Court in case of CIT vs. Simit P. Sheth, ITA No.553
of 2012, order dated 16.01.2013 and Vijay Proteins Ltd. vs. ACIT ... judicial pronouncement in the case of CIT-1 vs. Simit
P Sheth, ITA no.553 of 2012, order dated 16/01/2013 is much
relevant
facts in following
judgments in case of CIT Vs SIMIT P SHETH where facts are
completely different And also inspite of binding precedents of
jurisdictional ... extent of 12.5% as against 2.5% in case of SIMIT P
SHETH (after excluding 10% rate for vat for which no expenses
has been debited
Year: 2011-12
High Court in the case of CIT vs. Simit P. Sheth 356 ITR 451, has upheld the
addition of 12.5% of bogus ... Gujarat High Court in the case of CIT vs.
Simit P. Sheth (supra). The concluding paras of the Ld. CIT (A) read as under
