TaxTMI 
TaxTMI 
2026 (11) TMI 192
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....havi Parikh for the respondent. 2. These Tax Appeals are filed by the Revenue under section 260A of the Income Tax Act, 1961 (For short "the Act") against the common judgment and order dated 06.06.2024 passed by the Income Tax Appellate Tribunal, Surat Bench, Surat (For short "the Tribunal") in ITA No. 370/SRT/2023 for Assessment Year 2011-2012 and in ITA No. 371/SRT/2023 for Assessment Year 2012-2013. 3. Since identical issues arise in both the tax appeals, they have been heard together and would be disposed of by this common order. For the sake of convenience, Tax Appeal No.1105 of 2024 if treated as the lead matter. 4. Following substantial questions of law are proposed by the Revenue: "A) Whether on the facts and circu....
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....ble Apex Court in Special Leave to Appeal No. 769 of 2017 dated 16.01.2017, wherein the Hon'ble High Court decided that 100% of purchases from bogus parties was liable to be added in the hands of the Assessee, reversing the order passed by the Hon'ble ITAT that restricted addition to 25%, holding that such restriction goes against the principles of Sections 68 and 69C of Income tax Act? ➤ the judgment of Calcutta High Court of in the case of PCIT vs. Premlata Tekriwal (143 taxmann.com 173) involving similar issue of purchase of bogus concern to suppress profits wherein the court held that "since it was established that expenditure was unexplained/ bogus, entire amount of bogus expenditure was to be added to income of....
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....f Rajendra Jain group, a search was conducted by the Investigation Wing on 03.10.2013 where various evidences were found and collected which reveals that Shri Rajendra Jain, Sanjay Choudhary and Dharmi Chand Jain were providing accommodation entry in the name of various firms, companies or partnership concerns of various accommodation entry through their Benami concern. From the information, it was revealed that the assessee has availed similar accommodation entry from Maniprabha Impex Pvt. Ltd. and the assessee has received such bogus entries aggregating to Rs. 4.45 crores in Assessment Year 2011-2012. On the basis of such information, the Assessing Officer was of the view that income of assessee has escaped from assessment and treated the....
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....ch was restricted by the Tribunal to 6% of the purchases made by the assessee. It was therefore submitted that both these appeals filed by the assesses from the same order which raised the same issue may also be dismissed as this Court has referred to and relied upon the decision in case of Principal Commissioner of Income Tax vs. Pankaj K. Chaudhary in Tax Appeal No.617 of 2022 decided on 07.03.2023. 12. We have perused the judgment and order dated 24.02.2025 passed in Tax Appeal No.101 of 2024 in case of the appellant therein rendered by this Court wherein the following substantial questions of law were proposed by the Revenue: "(i) Whether, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was righ....