131 and v. CIT

140 ITR 151High Court1982#3644 most cited

What is 131 and v. CIT authority for?

When an assessee fails to discharge the onus of proving the identity, creditworthiness, and genuineness of a transaction for cash credits, the Assessing Officer is entitled to make additions.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2014 to 2023.

Also referred to as

Nanak Chandra Laxman Dass v. CIT · 140 ITR 151 · section 68 · cash credit · onus of proof · identity of creditor · creditworthiness of creditor · genuineness of transaction · addition u/s 68 · share application money

Issues it is cited on

section 31paper companysection 251(2)share capital and share premiumsource of sourcecreditworthiness of the creditorsection 251(1)(a)live linkadmission of additional evidenceentry operatorshare application moneyaddition u/s 68

Judgments citing 131 and v. CIT

ITO Ward - 14(1), New Delhi vs. Kaka Services Pvt Ltd, New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5525/DEL/2019[2013-14]Status: DisposedITAT Delhi22 Dec 2023AY 2013-14

Bench: The Ld.

Section 143(1)Section 143(3)Section 14ASection 56(2)(viib)Section 68

…xplanations by the assessee who has failed to discharge its onus, the A.O. is entitled to make the additions: • Kale Khan Mohammad Hanif Vs CIT (1963) 50 ITR1(SC). • CIT Vs Lachman Dass Oswal (1980) 126 ITR 446(P&H). • Nanak Chandra Laxman Dass Vs. CIT (1982) 140 ITR 151(AII). • R Dalmia Vs. CIT (1976) 113 ITR 522(Del). • CIT Vs Devi Prasad Vishwanath Prasad (1968) 72 ITR 194(SC). 5.4 It has been held in the following judicial citations that when the assessee company fails to discharge its onus, the A.O. is within his legitimate right to make an addition: • CIT Vs Hero Cycles Pvt. Ltd. & Others (1997) 228 ITR 46…

Lokenath Investment Consultants P.Ltd, New Delhi vs. ACIT, Central Circle-8, New Delhi

In the result, the appeal of the assessee is dismissed

ITA 1097/DEL/2019[2009-10]Status: DisposedITAT Delhi31 Jul 2023AY 2009-10

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: NoneFor Respondent: Ms. Sarita Kumari, CIT DR
Section 139Section 148Section 153ASection 153C

…ion 68 of the Act. 5.9 It has been held in various judgments that the assessee must prove identity and creditworthiness of creditor and genuineness of transaction e.g. as in Shankar Industries Vs. CIT (Cal) 114 ITR 689, Nanak Chandra Laxman Das Vs. CIT (Cal) 140 ITR 151, Hari Chand Virender Paul Vs. CIT (P&H) 140 ITR 148, CIT Vs. BijuPatnaik (SC) 160 ITR 674, ITO Vs. Skyjet Aviation (P) Ltd. (ITAT, Ahd-TM) 71 ITD 95, CIT Vs. Precision Finance P. Ltd. (Cal) 208 ITR 465, Oriental Wire Industries (P) Ltd. Vs. CIT (Cal) 131 ITR 688, Malabar Agricultural Co. Ltd. Vs. CIT (Ker) 229 ITR 548, Roshan De Hatti Vs. CIT (SC…

Income Tax Officer 5 (1), Indore vs. M/S Satyamitra Infrastructure Pvt. Ltd, Indore

In the result, the departmental appeal i

ITA 451/IND/2017[2012-13]Status: DisposedITAT Indore07 Sept 2021AY 2012-13

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year:2012-13

Section 143(3)Section 145Section 68

…) 114 ITR 689 (Cal), Gee Vee Enterprises vs. Addl. CIT 1975 CTR (Del) 61 : (1975) 99 ITR 375 (Del), CIT vs. Kohinoor Tobacco Products (P) Ltd. (1998) 148 CTR (MP) 536 : (1998) 234 ITR 557 (MP), Nanak Chandra Laxman Das vs. CIT (1982) 28 CTR (All) 280 : (1983) 140 ITR 151 (All) and Malabar Industrial Co, Ltd. vs. CIT (2000) 159 CTR (SC) 1 : (2000) 243 ITR 83 (SC), expressed the view that when the identity of the parties is given the genuineness or the capacity of the lenders and transaction are not to be discarded on the ground that the assessee had not explained satisfactorily the cash credit in the books of acco…

Kasper Information Technology Pvt. Ltd., New Delhi vs. ITO Ward-14(2), New Delhi

ITA 9357/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO Ward - 14(2), New Delhi vs. Kasper Information Technology Pvt Ltd, New Delhi

ITA 9287/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO Ward - 13(3), New Delhi vs. Jingle Bells Aluminium Pvt. Ltd., New Delhi

ITA 5527/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

Jingle Bells Aluminium, New Delhi vs. ITO Ward - 13(3), New Delhi

ITA 5397/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

Kasper Information Technology P.Ltd, New Delhi vs. ITO, Ward-14(2), New Delhi

ITA 510/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

Landsky Real Estates P.Ltd, New Delhi vs. ITO, Ward-15(1), New Delhi

ITA 509/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, Ghaziabad

ITA 6401/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Mar 2021AY 2014-15

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, New Delhi

ITA 5974/DEL/2017[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

M/S Globus Real Infra Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2920/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ACIT, New Delhi vs. M/S. Star Light Consumer Electronics Pvt. Ltd., New Delhi

ITA 6070/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ACIT, New Delhi vs. M/S. Superstar Agency Pvt. Ltd., New Delhi

ITA 5832/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ACIT, New Delhi vs. M/S. Sur Buildcon Pvt. Ltd., New Delhi

ITA 5831/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, New Delhi vs. M/S Stylish Construction Pvt. Ltd., New Delhi

ITA 5744/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, New Delhi vs. M/S. Sukhna Real Estate Pvt. Ltd., Ghaziabad

ITA 5742/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, New Delhi vs. M/S. Sukhna Steel Pvt. Ltd., New Delhi

ITA 5741/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, New Delhi vs. M/S. Sunlight Tour and Travels Pvt. Ltd., Sahibabad

ITA 5740/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

ITO, New Delhi vs. M/S. Sintex Consumers Electronics Pvt. Ltd., Delhi

ITA 5736/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…he AO did not bring any Finlease Pvt Ltd. • Kale Khan Mohd. Hanif V adverse material to reject the explanations and CIT. • CIT V Lachhman Das Oswal evidences submitted by the appellant except non- • Nanak Chandra Laxman Dass compliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by…

131 and v. CIT (140 ITR 151) — Cited in 32 Judgments | BharatTax