2013 (3) TMI 753 - AT - Income Tax

2011 (2) TMI 373 - HC

2017 (8) TMI 1122 - AT

Issues Involved:
1. Addition on account of alleged and unproved purchase of steel.
2. Claim of deduction u/s 80-IB(10) for various projects.

Summary:

1. Addition on account of alleged and unproved purchase of steel:
- ITA Nos. 4796/M/2011 (Assessee) & 172/M/2012 (Assessee) (A.Y. 2003-04):
The A.O. observed that the assessee showed purchases from M/s. Maulik Steel Corporation and M/s. Vaishali Steel Enterprises, but the addresses were non-existent. Despite payments made by account payee cheques, the A.O. treated the purchases as non-genuine and added Rs. 13,17,659/-. The Ld. CIT(A) upheld this addition. The Tribunal restored the issue back to the A.O. for verification of bank details and cheque numbers, allowing the ground for statistical purposes.

- ITA Nos. 4797/M/2011 (Assessee) & 5195/M/2011 (Department) (A.Y. 2004-05):
Similar issues were raised, and the Tribunal decided similarly, allowing the appeal for statistical purposes.

- ITA Nos. 4798/M/2011 (Assessee) & 5196/M/2011 (Department) (A.Y. 2005-06):
The Tribunal decided similarly, allowing the appeal for statistical purposes.

2. Claim of deduction u/s 80-IB(10):
- ITA Nos. 4796/M/2011 (Assessee) & 172/M/2012 (Assessee) (A.Y. 2003-04):
The assessee claimed deduction u/s 80-IB(10) for Madhav Srishti, Phase I, which was initially denied by the Ld. CIT(A). The Tribunal restored the issue back to the A.O. for verification in light of the decision in CIT vs. Brahma Associates, allowing the ground for statistical purposes.

- ITA Nos. 4797/M/2011 (Assessee) & 5195/M/2011 (Department) (A.Y. 2004-05):
The A.O. disallowed the deduction for Madhav Srishti, Phase II, citing commercial exploitation of amenities. The Ld. CIT(A) allowed the deduction, and the Tribunal upheld this, dismissing the Revenue's appeal.

- ITA Nos. 4798/M/2011 (Assessee) & 5196/M/2011 (Department) (A.Y. 2005-06):
The Tribunal restored the issue back to the A.O. for verification of the transfer of club house facilities to residents, allowing the appeal for statistical purposes.

- ITA Nos. 4799/M/2011 (Assessee) & 5197/M/2011 (Department) (A.Y. 2006-07):
The Tribunal decided similarly, allowing the appeal for statistical purposes.

- ITA Nos. 4800/M/2011 (Assessee) & 5198/M/2011 (Department) (A.Y. 2007-08):
The Tribunal decided similarly, allowing the appeal for statistical purposes.

- ITA Nos. 4801/M/2011 (Assessee) & 5199/M/2011 (Department) (A.Y. 2008-09):
The Tribunal decided similarly, allowing the appeal for statistical purposes.

- ITA Nos. 4802/M/2011 (Assessee) & 5416/M/2011 (Department) (A.Y. 2009-10):
The Tribunal decided similarly, allowing the appeal for statistical purposes.

Conclusion:
All appeals were either allowed for statistical purposes or dismissed based on the verification and substantiation of claims, particularly concerning the genuineness of steel purchases and the eligibility for deductions u/s 80-IB(10).

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