COMMISSIONER OF INCOME TAX, DELHI-II vs. KISHORI LAL CONSTRUCTION LTD.

ITA-783/2007HC Delhi2009:DHC:567923 December 200913 pages
AI SummaryRemanded

What did the High Court hold?

The Tribunal affirmed the deletion of the addition, finding that the assessee had discharged its initial onus. The High Court agreed that the Assessing Officer failed to establish the transaction was bogus and that the onus was on the Revenue to further investigate.

What were the facts?

The Assessing Officer made an addition under Section 68 for unexplained cash credit based on a statement from M/s Yadav and Company denying ownership of the bank account from which the assessee received payment. The assessee provided confirmations and cheque details, but the proprietor of M/s Yadav and Company could not be produced.

What were the issues?

Whether the assessee discharged its onus under Section 68 by providing confirmations and cheque payments, and whether the Assessing Officer adequately investigated the transaction after the creditor's denial.

Which sections of the Income-tax Act were involved?

Section 68,Section 148,Section 132(4)

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Cases cited in this judgment(10)Show list

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* IN THE HIGH COURT OF DELHI AT NEW DELHI

Reserved on: 4th, November,2009

Date of Decision: 23rd December, 2009

+ ITA 783/2007

COMMISSIONER OF INCOME TAX, DELHI-II ..... Appellant

Through: Mr. N.P. Sahni with Mr. P.C. Yadav, Advs.

versus

KISHORI LAL CONSTRUCTION LTD. ..... Respondent

Through: Mr. Ajay Vohra with Ms. Kavita Jha and Mr. Sriram Krishna, Advs.

with

ITA 633/2008

COMMISSIONER OF INCOME TAX - V ..... Appellant

Through: Ms. Rashmi Chopra, Adv.

versus

RAIL TRACK INDIA LTD.

..... Respondent

Through: Mr. Ajay Vohra with Ms. Kavita Jha and Mr. Sriram Krishna, Advs.

and

ITA 467/2008

COMMISSIONER OF INCOME TAX, DELHI -IV ..... Appellant

Through: Ms. Prem L. Bansal with Ms. Ansul Sharma, Advs.

versus

DÉCOR INVESTMENT & FINANCE LTD. ..... Respondent

Through: Mr. Ajay Vohra with Ms. Kavita Jha and Mr. Sriram Krishna, Advs.

2009:DHC:5679-DB

% CORAM:

HON'BLE MR. JUSTICE A.K. SIKRI

H

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