COMMISSIONER OF INCOME TAX vs. KIMTI LAL JAIN

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ITA - 1084 / 2009HC Delhi14 March 20127 pages
For Petitioner: MR.SUBHASHH BANSAL
AI SummaryRemanded

What did the High Court hold?

The Tribunal had not returned specific findings on the genuineness of each jewellery sale transaction, instead relying on a previous case. The High Court found this insufficient and set aside the orders.

What were the facts?

The appeals involved allegations of bogus sale of jewellery by assessees to specific jewellers. The Commissioner of Income Tax had found the transactions to be genuine, but the revenue challenged these findings.

What were the issues?

Whether the Tribunal had adequately examined and returned specific findings on the genuineness of the jewellery sale transactions in each individual case.

AI-generated summary — verify with the full judgment below

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\$~26-32, 34, 35-49

IN THE HIGH COURT OF DELHI AT NEW DELHI

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

ITA 126/2009

COMMISSIONER OF INCOME TAX DELHI

GEETA DEVI BINDAL

Mr V. N. Jha

+ ITA 155/2009

THE COMMISSIONER OF INCOME TAX

.. Appellant

Mr Deepak Chopra with Mr Harpreet Singh

SHRI BRIJ KISHORE

+ ITA 191/2009

THE COMMISSIONER OF INCOME TAX

SANJEEV GOEL

+ ITA 311/2009

COMMISSIONER OF INCOME TAX-VII

M/S RAJESH KUMAR (HUF)

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+ ITA 357/2009

Mr Sanjeev Rajpal

ANIL KUMAR BANSAL

+ ITA 358/2009

SHRI NAGARMAL BANSAL

+ ITA 378/2009

GANVIR KUMAR

+ ITA 594/2009

NEELAM JAIN

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+ ITA 948/2009

. | .

Through: Mr Deepak Chopra with Mr Harpreet Singh

AJIT PRASAD JAIN ..... Respondent

ITA 965/2009

Through: Mr Deepak Chopra with Mr Harpreet Singh

AJIT PRASAD JAIN & SONS ..... Respondent

+ ITA 990/2009 ,

COMMISSIONER OF INCOMET TAX ..... Appellant

Through: Mr Sanjeev Rajpal

SANJEEV & SONS HUF ..... Respondent

ITA 1068/2009

Through: Ms Suruchi Aggarwal

ANJU JAIN ..... Respondent

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+ ITA 1071/2009

ROMA KAPOOR

Mr V. K. Sabharwal

ITA 1072/2009

MADHU GUPTA

Ms Rani Kiyala

ТА 1076/2009

PRADUMAN KUMAR JAIN

+ ITA 1078/2009

RAKESH KUMAR JAIN HUF

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+ ITA 1084/2009

KIMTI LAL JAIN

Mr Navin C. Gupta with Mr Atul Jain

+ ITA 1171/2009

KAMAL KISHORE PANKAJ AGGARWAL

Mr S. Krishnan

+ ITA 381/2010

ANUJ MEHTA

+ ITA 483/2010

COMMISSIAONER OF INCOME TAX

VK MEHTA

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+ ITA 764/2010

SARLA JAIN

+ ITA 971/2010

VK MEHTA

CORAM:

HON'BLE MR JUSTICE BADAR DURREZ AHMED HON'BLE MR JUSTICE V. K. JAIN

ORDER 14.03.2012

The issue raised in these appeals pertains to the alleged bogus sale of jewellery by the assessees to either Bishan Chand Mukesh Kumar or Bemco Jewellers. We find that the Tribunal has not returned specific findings in respect of each of these matters as to whether there was a genuine sale or not. It has merely relied upon the case of Tejinder Singh decided on 25.07.2008 in IT (SS) A. No. 404/Del 2003. Though we find that in almost all these cases there is a finding returned by the Commissioner of Income Tax that the transactions were genuine, since the revenue had challenged those findings, it was incumbent upon the Tribunal to independently examine each of the cases and return a

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specific finding as to whether there was a genuine transaction of sale of jewelle assessees to Bishan Chand Mukesh Kumar/ Bemco Jewellers.

Since the Tribunal has not done that, we are setting aside the impugned orders and are remitting the matters to the Tribunal for considering this aspect of the matter so that the Tribunal can return a clear finding in respect of each of the matters as to whether the alleged transaction of sale of jewellery was genuine or not.

The appeals stand disposed of accordingly.

BADAR DURREZ AHMED,

V. K. JAIN, J

MARCH 14, 2012 SR

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