DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), CHENNAI, CHENNAI vs. KAG INDIA PRIVATE LIMITED, VELACHERY
What did the Tribunal hold?
The Tribunal held that the surrender of income obtained under duress is illegal and additions based on such surrenders are unlawful. It also found that extrapolating income from later years without clear nexus or continuity is not permissible.
What were the facts?
The appeals by the revenue concern assessment years 2014-15 to 2021-22, arising from a search conducted on the assessee group. The primary issue revolves around the genuineness of share capital investments and additions made under Section 68 of the Income Tax Act.
What were the issues?
Whether additions made under Section 68 based on a coerced surrender or extrapolation from later years are valid, and whether the revenue discharged its burden to prove the share capital transactions were not genuine.
Which sections of the Income-tax Act were involved?
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Cases cited in this judgment(8)Show listHide list
Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.
- CIT v. Kabul Chawla3,235 citing380 ITR 573 · 2016 · HC · Read judgment
- CIT v. Kelvinator of India Ltd.1,673 citing320 ITR 561 · 2010 · SC · Read judgment
- Dhakeshwari Cotton Mills Ltd. v. CIT1,061 citing26 ITR 775 · 1954 · SC
- PCIT v. Best Infrastructure (India) (P.) Ltd.786 citing84 Taxmann.com 287 · 2017 · HC
- Pullangode Rubber Produce Co. Ltd. v. State of Kerala666 citing91 ITR 18 · 1973 · SC
- Mehta Parikh & Co. v. CIT396 citing30 ITR 181 · 1956 · SC
- 233 (Del HC); (ii) PCIT v. Shri Pushkar Construction Co.16 citing154 Taxmann.com 22 · 2023 · HC
- 222 Taxmann 6226 citing222 Taxmann 622 · 2014 · HC
Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI
Before: HON’BLE SHRI MANU KUMAR GIRI & HON’BLE SHRI S.R.RAGHUNATHA
Heard together (6 matters)
Read from the judgment's own cause title. This page is filed under one of them.
PER BENCH: These appeals by the revenue are filed against the orders of the Commissioner of Income Tax (Appeals), Chennai - 19, for the asse
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More judgments on Section 68
- ACIT Central Bilaspur, Bilaspur vs Arun Kumar Agrawal, SaktiITSSA 26/RPR/2025[2018-19]Status: Disposed21 Oct 2026AY 2018-19
- Neo Incorporation, Rajkot vs DCIT Circle- 1(2), RajkotITA 471/RJT/2026[2012-2013]Status: Disposed21 Oct 2026AY 2012-2013
- Bliss Dealtrade Private Limited, Kolkata vs Income Tax Officer - Ward 9(2) Kolkata…ITA 208/KOL/2026[2012-13]Status: Disposed21 Oct 2026AY 2012-13
- Hemal Paresh Madeka, Rajkot vs Asst.Commissioner of Income Tax…ITA 955/RJT/2026[2020-21]Status: Disposed19 Oct 2026AY 2020-21
- Ajaybhai Dineshbhai Bagdai, Near Central… vs The Income Tax Officer, Ward-1(2)(1), New…ITA 74/RJT/2026[2013-14]Status: Disposed19 Oct 2026AY 2013-14
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