1. Mehul Vyas v. ITO

80 Taxmann.com 311Income Tax Appellate Tribunal2017#5562 most cited

What is 1. Mehul Vyas v. ITO authority for?

The ITAT held that invoking Section 68 for unexplained cash credits is not legally sustainable if the assessee has not maintained proper books of accounts. Bank passbooks alone do not constitute books of account.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2021 to 2026.

Also referred to as

Mehul Vyas v. ITO · Section 68 · unexplained cash credit · books of accounts · bank passbook · genuineness of transaction · income from other sources · assessment procedure

Sections most often in play

Section 143(3)Section 147Section 148Section 68Section 133(6)Section 151Section 250Section 253(5)

Issues it is cited on

addition under section 68unexplained cash creditrule 46agenuineness of the transactionincome from other sourcesincome-tax officersection 68unexplained investmentprevious yearsection 69personsection 13

Judgments citing 1. Mehul Vyas v. ITO

M/S Ekta Housing Pvt. Ltd., Mumbai vs. Dy. CIT Central Circle-6(2), Mumbai

The appeal of the revenue is dismissed

ITA 1732/MUM/2019[2013-14]Status: DisposedITAT Mumbai24 May 2021AY 2013-14

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood ()

…Page 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI S.RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA No.1732-1733/MUM/2019 (Assessment Years: 2013-14& 2016-17) M/s Ekta Housing Pvt. Ltd Dy. Commissioner of Income- 401, Hall mark Business Plaza, Vs. tax-Central Circle 6(2), Off. Western Express Highway, 19th Floor, Air India Building, Kalanagar, Bandra East, Nariman Point, Mumbai – 400 001. Mumbai – 400 021. PAN No. AAACE2460K (Appellant) (Respondent) Dy. Commissioner of Income- M/s Ekta Housing Pvt. Ltd tax-Central Circle 6(2), Vs. 401, Hall mark B…