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Documents citing Pooja Paper Trading Co. Ptv. Ltd vs Income Tax Officer 4 (3)(1) on 25 February, 2019

Acit_3(1)(1), Mumbai vs M/S Bhoir Offshore P. Ltd., Mumbai on 17 November, 2021

6. We heard the rival submissions and perused the material on record. The sole crux of the disputed issue as envisaged by the Ld.DR that the CIT(A) has restricted the addition to the extent of 12.5% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and considered the Hon'ble High Court decision and took a view. Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451) has upheld the disallowance @ 12.5% on such purchases.
Income Tax Appellate Tribunal - Mumbai Cites 13 - Cited by 0 - Full Document

Acit-3(1)(1), Mumbai vs M/S Bhoir Dredging Co. Pvt. Ltd., Mumbai on 16 November, 2021

7. We heard the rival submissions and perused the material on record. The sole crux of the disputed issue as envisaged by the Ld.DR that the CIT(A) has restricted the addition to the extent of 12.5% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and considered the Hon'ble High Court decision and took a view. Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451) has upheld the disallowance @ 12.5% on such purchases.
Income Tax Appellate Tribunal - Mumbai Cites 10 - Cited by 0 - Full Document

Tncome Tax Officer (3) (1), Mumbai vs Shri Ram Ujagir Ram Sabda Pandey, Mumbai on 26 May, 2022

Shri Ram Ujagir Ram Sabda Pandey 6 ITA No. 2274/Mum/2021 Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451) has upheld the disallowance restricting profit element on such purchases.
Income Tax Appellate Tribunal - Mumbai Cites 9 - Cited by 0 - Full Document

Acit, Circle-6(2)(1),Mumbai, Mumbai vs M/S. Creo Lifestyles P. Ltd., Mumbai on 24 February, 2022

5. We heard the Ld.DR submissions and perused the material on record. The sole crux of the disputed issue as envisaged by the Ld.DR that the CIT(A) has restricted the addition to the extent of 12.5% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and considered the Hon'ble High Court decision and took a view. Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451) has upheld the disallowance @ 12.5% on such purchases.
Income Tax Appellate Tribunal - Mumbai Cites 9 - Cited by 0 - Full Document

Ito - 7(3)(1), Mumbai vs M/S. Print Plus P. Ltd., Mumbai on 24 February, 2022

6. We heard the rival submissions and perused the material on record. The sole crux of the disputed issue envisaged by the Ld.DR that the CIT(A) has restricted the addition to the extent @25% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and considered the Hon'ble High Court decision and took a view. Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth ITA No.1938/Mum/2020 Print Plus P Ltd., Mumbai.
Income Tax Appellate Tribunal - Mumbai Cites 7 - Cited by 0 - Full Document

Income Tax Office-20(1)(1) , Mumbai vs M/S Crystal Corporation, Mumbai on 24 May, 2023

6. We heard the Ld.DR submissions and perused the material on record. The sole crux of the disputed issue as envisaged by the Ld.DR that the CIT(A) has restricted the addition to the extent of 6% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and the Hon'ble High Court decisions and took a view referred at Para 4 to 7 of the order. We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451) has considered the profit element and the income was estimated. We find the Ld.CIT(A) took a reasonable view that the only profit percentage has to be added and estimated @ 6% of bogus purchases. The Ld.DR could not controvert the findings of the CIT(A) with any new cogent evidence and material to take a different view. We are of the opinion that the CIT(A) dealt on the facts and considered the profit element in the bogus purchases and also the A.O has not disputed the sales. The Ld.CIT(A) has relied on the decision of Hon'ble High Court and Honble Tribunal and passed a reasoned order. Accordingly, we do not find any 6 I T A N o . 8 2 3 / M um / 2 0 2 3 Crystal Corporation infirmity in the order of the CIT(A) and uphold the same and dismiss the grounds of appeal raised by the revenue
Income Tax Appellate Tribunal - Mumbai Cites 8 - Cited by 0 - Full Document

Ito, Ward-2(1), Thane vs Shri Mehul Shantilal Bhavsar , Thane on 5 September, 2024

5. We heard the rival submissions and perused the material on record. The sole crux of the dispute d issue envisaged by the Ld.DR that the CIT(A) has erred in restricting the addition to the extent @12.5% of the bogus purchases considering profit element embedded. We found that the CIT(A) has dealt on the facts and considered the Hon'ble High Court decision and took a view. Further, We find the Jurisdictional Honble High Court in the case of Pooja Paper Trading Co. Vs. ITO, (104 taxmann.com 95) and Honble Gujarat High court in CIT Vs. Simit P Sheth (2013) (356 ITR 451)has considered the profit element embedded in the transaction.
Income Tax Appellate Tribunal - Mumbai Cites 6 - Cited by 0 - Full Document
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