{"id":234115,"date":"2020-08-18T16:00:49","date_gmt":"2020-08-18T10:30:49","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=234115"},"modified":"2020-08-28T13:28:26","modified_gmt":"2020-08-28T07:58:26","slug":"itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/","title":{"rendered":"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains"},"content":{"rendered":"

Income Tax Appellate Tribunal, Hyderabad<\/strong>: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire purchase cannot be treated as a bogus purchase when there is evidence to establish that the payment was carried out through banking channels.<\/p>\n

The Assessee, in the present case, is an individual who is engaged in the business of trading gold and gold ornaments in the name and style of M\/s Vijay Jewelers. Search and seizure under Section 132 of the Income Tax Act on three individuals, revealed that these individuals were providing accommodation entries for the purchase of gold and gold Jewelry to various entities including the proprietary concern of the Assessee. It was further revealed that the Assessee had obtained accommodation entries for the purchase of gold from them and various other individuals.<\/p>\n

The Assessee failed to prove the credit-worthiness of the individuals from whom the gold and ornaments were purchased. Though the Assessee was able to furnish the bank statements and vouchers to substantiate a claim that the payment was done via cheque.<\/p>\n

The Assessing Officer placed its reliance on the decision passed by the \u00a0Supreme Court in the case of Kachwala Gems v. CIT, <\/em><\/span>(2007) 12 SCC 761<\/a><\/strong> and held that the purchase made by the Assessee from those individuals is a bogus transaction.\u00a0 Therefore, the Assessing Officer estimated 10% of the bogus purchase as the undisclosed income of the Assessee.<\/p>\n

On Appeal, the Commissioner of Income Tax (Appeal) opined that the entire bogus purchase has to be added to the income of the Assessee and accordingly enhanced the addition.<\/p>\n

Being aggrieved by the addition done by the CIT(A) the Assessee preferred an Appeal before the Income Tax Appellate Tribunal which was called upon to decide whether the CIT(A) was justified in enhancing the addition by treating the entire bogus purchase of the Assessee as his income?<\/p>\n

The Tribunal set aside the order passed by the CIT(A) and held that the CIT(A) was not justified to enhance the addition by treating the entire bogus purchases as the income of the Assessee. It placed reliance on the payment of the purchases which were done via banks and were the accounted money of the Assessee. Further, the gold and ornaments were either sold by the Assessee or were treated as his business stock. Confirming the \u00a0estimated 10% of the bogus purchase as the undisclosed income of the Assessee by the AO, the Tribunal said,<\/p>\n

\n

\u201cThough the payment made by the assessee towards the purchases are through banking channels, it is also revealed that the suppliers were issuing bogus bills and vouchers to various parties. In this situation, producing the bills and vouchers and evidencing the payment made through cheque alone will not establish that the transactions are genuine.\u201d<\/p>\n<\/blockquote>\n

Hence, setting aside the order of CIT(A), the Tribunal held,<\/p>\n

\n

\u201c\u2026 the order of the Ld. CIT (A) to enhance the addition by treating the entire bogus purchases as the income of the Assessee is not appropriate because it is evident that the Assessee had made purchases apparently from his accounted money as the payments have made through banking channels.\u201d<\/p>\n<\/blockquote>\n

[Bhagatram Hyderabad v. Asst. Commissioner of Income Tax, 2020 SCC OnLine ITAT 345<\/b><\/a>, decided on 28-07-2020 ]<\/u><\/p>\n","protected":false},"excerpt":{"rendered":"

Income Tax Appellate Tribunal, Hyderabad: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire <\/p>\n","protected":false},"author":67011,"featured_media":170804,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[30063,43114,2592,30953],"class_list":["post-234115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-assessment","tag-bogus-purchase","tag-Income_Tax","tag-itat"],"yoast_head":"\nITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains\" \/>\n<meta property=\"og:description\" content=\"Income Tax Appellate Tribunal, Hyderabad: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-18T10:30:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-08-28T07:58:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/\",\"name\":\"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg\",\"datePublished\":\"2020-08-18T10:30:49+00:00\",\"dateModified\":\"2020-08-28T07:58:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg\",\"width\":1330,\"height\":887,\"caption\":\"Income Tax Appellate Tribunal\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\",\"name\":\"Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"caption\":\"Editor\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/","og_locale":"en_US","og_type":"article","og_title":"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains","og_description":"Income Tax Appellate Tribunal, Hyderabad: Dealing with the issue on accommodation entries and bogus purchases, the Tribunal has said that the entire","og_url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2020-08-18T10:30:49+00:00","article_modified_time":"2020-08-28T07:58:26+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg","type":"image\/jpeg"}],"author":"Editor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Editor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/","url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/","name":"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg","datePublished":"2020-08-18T10:30:49+00:00","dateModified":"2020-08-28T07:58:26+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg","width":1330,"height":887,"caption":"Income Tax Appellate Tribunal"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/18\/itat-treating-entire-bogus-purchases-as-the-income-of-the-assessee-when-not-appropriate-itat-explains\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"ITAT| Treating entire bogus purchases as the income of the Assessee when not appropriate? ITAT explains"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe","name":"Editor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","caption":"Editor"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":291581,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/08\/itat-directs-assessing-officer-to-charge-gross-profit-rate-of-6-5-percent-on-bogus-purchases-legal-news\/","url_meta":{"origin":234115,"position":0},"title":"Income Tax Appellate Tribunal directs Assessing Officer to charge assessee at gross profit rate of 6.5% on bogus purchases","author":"Apoorva","date":"May 8, 2023","format":false,"excerpt":"ITAT said that the entire addition has been made by the AO as well as CIT based on guess work and estimation based on some alleged information received from Sales Tax Department of Maharashtra and from DGIT that \u201cthe assessee has taken bogus purchase bills without having taken any delivery\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Income Tax Appellate Tribunal (ITAT)","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-494.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-494.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-494.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-494.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":216555,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/05\/itat-assessee-must-be-given-adequate-opportunity-to-prove-the-receipt-of-share-capital-premium\/","url_meta":{"origin":234115,"position":1},"title":"ITAT| Assessee must be given adequate opportunity to prove the receipt of share capital\/premium","author":"Prachi Bhardwaj","date":"July 5, 2019","format":false,"excerpt":"Income Tax Appellate Tribunal, Delhi (ITAT):\u00a0 In a case related to bogus Share Capital\/Premium, the Accountant Member RK Panda took note of the fact that the Supreme Court verdict in PCIT vs. NRA Iron & Steel (P) Ltd., 2019 SCC Online SC 311 was pronounced subsequently wherein it was held,\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Income Tax Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":271991,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/20\/bogus-parties-and-dubious-transactions-read-itats-observations-on-a-matter-concerning-non-existent-lenders\/","url_meta":{"origin":234115,"position":2},"title":"Bogus Parties and Dubious Transactions- Read ITAT’s observations on a matter concerning “non-existent lenders”","author":"Editor","date":"August 20, 2022","format":false,"excerpt":"Income Tax Appellate Tribunal (ITAT), New Delhi: While deciding the instant appeal pertaining to the Assessment Year 2015-16 where the Revenue challenged the decision of CIT(A) for deleting the addition of Rs 4,33,18,870 made on account of unsecured loan under Section 68 of the Income Tax Act, 1961, the Bench\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Income Tax Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":294312,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/11\/revenue-can-bring-expenditure-incurred-earlier-years-taxed-subsequent-years-itat\/","url_meta":{"origin":234115,"position":3},"title":"Can revenue bring expenditure incurred in earlier years to be taxed in subsequent years? ITAT answers","author":"Apoorva","date":"June 11, 2023","format":false,"excerpt":"After examining the expenses payable and the detailed order of the CIT,the ITAT held that the CIT has correctly examined the invoices, period and purpose for the expenses which have not been paid for the last six years","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"income tax appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/income-tax-appellate-tribunal.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/income-tax-appellate-tribunal.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/income-tax-appellate-tribunal.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/income-tax-appellate-tribunal.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":240927,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/18\/itat-will-the-benefit-of-cbdt-instruction-no-1916-take-away-the-benefit-of-explained-jewellery-acquired-by-an-assessee-tribunal-explains\/","url_meta":{"origin":234115,"position":4},"title":"ITAT | Will the benefit of CBDT Instruction No. 1916 take away the benefit of explained jewellery acquired by an assessee? Tribunal explains","author":"Bhumika Indulia","date":"December 18, 2020","format":false,"excerpt":"Income Tax Appellate Tribunal (ITAT), Jaipur: The Bench of Vijay Pal Rao, JM and Vikram Singh Yadav, AM, held that, the\u00a0benefit\u00a0of\u00a0CBDT Instruction No.\u00a01916\u00a0dated 11-05-1994\u00a0will not take away the benefit\u00a0of the\u00a0explained jewellery acquired by the assessee. The instant appeal was directed against the Order of CIT(A)-4, Jaipur. The assessee is an\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Income Tax Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":270293,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/18\/itat-can-incorrect-entries-hybrid-system-of-account-lead-to-rejection-of-books-of-accounts-labor-charges\/","url_meta":{"origin":234115,"position":5},"title":"ITAT| Can incorrect entries; hybrid system of account lead to rejection of books of Accounts & Labor Charges?","author":"Editor","date":"July 18, 2022","format":false,"excerpt":"\u00a0 \u00a0 Income Tax Appellate Tribunal, Mumbai: Dealing with the issue pertaining to rejection of books of accounts, sustainability of disallowance of labour charges, and disallowance of outstanding labour charges, the Gagan Goyal, Accountant Member has held that CIT(A) was correct and justified in rejecting the books of account by\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Income Tax Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/11\/ITAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/234115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=234115"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/234115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/170804"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=234115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=234115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=234115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}