PR. COMMISSIONER OF INCOME TAX -12, MUMBAI vs DRISHA IMPEX PVT. LTD.

Judgment text excerpt

SAYYED Digitally by SAYYED signed SAEED SAEED ALI AHMED ALI 1 ALI Date: 1.ITXA.1240.18 and 2087.18.docx AHMED 2025.04.07 15:05:08 Revati ALI +0530 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1240 OF 2018 WITH INCOME TAX APPEAL NO.2087 OF 2018 Pr. Commissioner of Income Tax-12, Mumbai Aaykar Bhavan, Maharshi Karve Road, Mumbai-400020 …Appellant Versus M/s Drisha Impex Pvt. Ltd., A/1-7, Link Palace off Link Road, Malad(W), Mumbai 400064. …Respondent ______________________________________________________ Ms Shilpa Goel for the Appellant-Revenue. Mr K Gopal and Ms Neha Paranjape for the Respondent. ______________________________________________________ CORAM M.S. Sonak & Jitendra Jain, JJ. RESERVED ON: 2 April 2025 PRONOUNCED ON: 7 April 2025 JUDGMENT (Per Jitendra Jain, J):- 1. These appeals, filed by the Appellant-Revenue for Assessment Years (AY) 2009-10 and 2010-11, challenges the common order of the Income Tax Appellate Tribunal (ITAT), Mumbai, dated 21 June 2017. 2. These appeals were admitted on 30 January 2025 on the following substantial questions of law: SUBSTANTIAL QUESTIONS OF LAW “(i) Whether the Tribunal after accepting that this a case of 2 1.ITXA.1240.18 and 2087.18.docx bogus purchases, could have proceeded to determine profit rate without confirming the disallowance of purchases, without considering the provisions of Section 69C of the Income Tax Act, 1961 and without considering the decision of the Gujarat High Court in the case of N.K. Industries Ltd. Vs. Deputy Commissioner of Income Tax, (2016) 72 taxmann.com 289 since the Special Leave Petition against the said decision was dismissed by the Hon’ble Supreme Court in case of N. K. Protiens Ltd. Vs. Deputy Commissioner of Income Tax, on 16 January 2