Income Tax : bogus purchases is a arisen, there has not been a consistent approach of different courts, as facts are not found similar in such ...
Income Tax : ITAT Held that, only 10% of the purchase would be added to the Appellant’s income in case where the Appellant was unable to prov...
Goods and Services Tax : The invoices are called as fake where the GST invoices are raised by an entity without actual supply of goods or services or payme...
Goods and Services Tax : WHAT IS A FAKE INVOICE? Though, Fake Invoice is not defined under Goods & Services Tax Act, 2017. But in general, Fake Invoice...
Income Tax : Maharashtra Sales Tax Department has published ‘List of Suspicious Dealers, who have issued false bills, without delivery of goo...
Goods and Services Tax : DGGI in Gurugram has successfully dismantled a massive network of fake entities involved in fraudulent tax practices. The operatio...
Goods and Services Tax : DGGI Gurugram unmasked an Input Tax Credit fraud operation with 461 shell entities, causing a loss of Rs. 863 crore to exchequer....
Goods and Services Tax : CGST Navi Mumbai arrests one person for availing and passing on fake ITC on bogus invoices On 18th August 2022, the Proprietor/ma...
Goods and Services Tax : CGST Bhiwandi Commissionerate arrests two persons for availing and passing on fake ITC on bogus invoices of Rs. 55 crore Officers ...
Income Tax : Income Tax Department conducts search operations in West Bengal The Income Tax Department initiated search operation in the case o...
Income Tax : Explore the detailed ITAT Mumbai order on Trustar Diamonds appeal against ACIT for A.Y. 2012-13, addressing alleged bogus purchase...
Income Tax : In the case of Sangam Wires Vs ITO, ITAT Hyderabad directed AO to restrict addition of Rs. 16.8 crores as bogus purchases, focusin...
Income Tax : In DCIT Vs Nilesh Shantilal Tank case, Mumbai ITAT confirms 12.5% gross profit margin on alleged bogus purchases as sales remain u...
Income Tax : ITAT held that if sales are not disputed and there is no discrepancy between purchases and declared sales, addition should be rest...
Income Tax : ITAT Mumbai affirms 12.5% profit addition confirmed by NFAC in ITO Vs Rajesh Amulakhrai Sanghvi case for AY 2009-10. Detailed anal...
Goods and Services Tax : The Ministry of Finance, Government of India, recently released Instruction No. 03/2023-GST, dated 14th June, 2023, outlining stri...
Goods and Services Tax : Government of India has noticed instances of fake GST registrations and issuance of bogus invoices leading to revenue loss. A meet...
Goods and Services Tax : Instructions to ensure careful handling of registration, cancellation, and revocation of registration processes for fake taxpayers...
Goods and Services Tax : Our experience shows that the bill traders after getting registrations, issue invoices without supply of goods or services for hug...
Goods and Services Tax : Assessment of return non-filers u/s 62 is done as a measure to ensure filing of return. However, the taxpayers are' detected as no...
Explore ITAT Mumbai’s order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the importance of accepted transactions.
Read the Kerala High Court judgment in Shine Abraham Vs State Tax Officer case, upholding the blocking of input tax credit due to fictitious transactions and fake invoices.
Explore the JMD Corporation vs ITO case where ITAT Mumbai restricts profit element of purchases at 4%, examining allegations of bogus purchases for A.Y. 2011-12.
Learn about the case involving Noble Corporation and ITAT Mumbai restricting addition to 7% of value of bogus purchases. Discover the key documents and the ruling of Assessing Officer in this blog post.
Delhi HC judgment on Gudwala And Sons vs. ACIT for AY 2019-20. Detailed analysis of reassessment proceedings, allegations, and flaws in AO’s approach.
Read the full text of the ITAT Delhi order on the case of AAA Teleshopping Pvt. Ltd vs. ACIT for assessment year 2011-12, with detailed analysis and conclusions.
Read the full text of the ITAT Mumbai order in Kailash Judhistir Sahu vs. CIT, where the addition from 12.5% to 6% for inability to produce parties of bogus purchases is restricted.
Explore the judgment from the Allahabad High Court in the case of Malik Traders vs. State of U.P. The court upheld the denial of input tax credit due to insufficient evidence, highlighting the importance of providing comprehensive proof of transactions in GST cases.
The Delhi High Court sets aside a reassessment order related to alleged bogus purchase claims, citing the need for proper evidence and defense for the assessee.
In a recent judgment, the Allahabad High Court granted one month to the assessee, M/s Abhay Traders, to submit a reply to a vague and invalid show cause notice alleging bogus purchases.
