(1971) 82 ITR 540 (SC) CIT v. Divine Leasing

168 ITR 757High Court1987#5686 most cited

What is (1971) 82 ITR 540 (SC) CIT v. Divine Leasing authority for?

When an assessee fails to discharge the onus of establishing the source and transaction for share capital/share application money, the addition under Section 68 is justified.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2021.

Also referred to as

CIT v Divine Leasing · 1971 82 ITR 540 SC · Section 68 · share capital · share application money · source of source · creditworthiness of creditor · addition u/s 68 · onus of proof · unexplained cash credits

Issues it is cited on

Judgments citing (1971) 82 ITR 540 (SC) CIT v. Divine Leasing

PEARLS NEWS NETWORK PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

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

ITA 3715/DEL/2018[2012-13]Status: DisposedITAT Delhi21 Dec 2021AY 2012-13

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2012-13 Pearls News Network Pvt. Ltd., Vs Dcit, 705, 7Th Floor, Manjusha Building, Circle-19(2), Nehru Place, New Delhi. New Delhi. Pan: Aaecp3680L (Appellant) (Respondent) Assessee By : None Revenue By : Shri Anil Gandhi, Sr. Dr Date Of Hearing : 07.12.2021 Date Of Pronouncement : 21.12.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 14Th July, 2017 Of The Cit(A)-31, New Delhi, Relating To Assessment Year 2012-13. 2. None Appeared On Behalf Of The Assessee At The Time Of Hearing. No Application Seeking Adjournment Of The Appeal Has Been Filed. A Perusal Of The Order Sheet Entries Shows That Although The Case Was Fixed For Hearing On Various Dates, No One Was Appearing. Further, The Notices Sent By Rpad Were Returned By The Postal Authorities With The Remark ‘Left.’ The Assessee Has Also Not Taken Any Step To Intimate The Change Of Address, If Any. Further, The Notice Was Directed To Be Served By The Revenue & The Departmental Notice Server Who Was Deputed To Serve The Dasti Summons Has Reported That The Premise Of The Assessee Was Closed & No One Was Residing There For Which The Notice Was Fixed At The Gate Of The Assessee Company. The Report Of The Notice Server Is Also Placed On Record. Under These Circumstances, We Deem It Proper To Decide The Appeal On The Basis Of The Material Available & After Hearing The Ld. Dr.

For Appellant: NoneFor Respondent: Shri Anil Gandhi, Sr. DR
Section 144Section 30Section 37(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : F : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER Assessment Year: 2012-13 Pearls News Network Pvt. Ltd., Vs DCIT, 705, 7th Floor, Manjusha Building, Circle-19(2), Nehru Place, New Delhi. New Delhi. PAN: AAECP3680L (Appellant) (Respondent) Assessee by : None Revenue by : Shri Anil Gandhi, Sr. DR Date of Hearing : 07.12.2021 Date of Pronouncement : 21.12.2021 ORDER PER R.K. PANDA, AM: This appeal filed by the assessee is directed against the order dated 14th July, 2017 of the CIT(A)-31, New Delhi, relating to a…

(1971) 82 ITR 540 (SC) CIT v. Divine Leasing (168 ITR 757) — Cited in 20 Judgments | BharatTax