M/s Flora Exports vs. ITO, Ward-31(1), Kolkata
Parties Involved
Facts Summary
The assessee-firm is engaged in the business of trading and export of leather products. The return was filed by the assessee on 09.10.2014 declaring a total income of Rs.5,12,626/-. The Assessing Officer received information that the assessee was a beneficiary of accommodation entries of bogus purchases of Rs.80,88,954/- from Shri Sanjiw Kumar Singh. The Assessing Officer reopened the assessment u/s 147 of the Act and added the entire purchases from M/s Tara Ma Merchant and M/s Raipur Trading Pvt. Ltd. The ld. CIT(A) confirmed the additions. The assessee appealed against the order of the CIT(A).…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the re-assessment order dated 29.12.2018 is void and nullity in the eyes of law?
- 2. Whether the recorded reasons are invalid and improper?
Judgment Outcome
Decided in favour of Assessee.
Similar Judgements
Dhar & Company Pvt. Ltd. Vs. ITO Wad
Kolkata benchAY 2011-12Partly AllowedLuvkesh Textile Industries Pvt. Ltd. vs. Deputy Commissioner of Income Tax
M Shashikant And Co vs. Income Tax Officer
Mumbai Bench benchAY 2010-11AllowedRevenue vs. Vinod Hirachand Sanghvi
Mumbai benchACIT – 19(1), Mumbai Vs. Parul Diamond
H(SMC) Bench, Mumbai benchAY 2007-08DismissedMaharashtra Corporation Limited Vs. ITO Ward 4(2)(1)
Mumbai benchAY 2017-18Partly Allowed