263 ITR 626/130 Taxman 689 (Cal.) and CIT v. Rathi Finiease Ltd.

215 CTR 429High Court2008#15314 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2022 to 2024.

Sections most often in play

Section 1961 Section 133(6) of the Income-tax Act Section 142(1) of the Income-tax Act Section 143(2) of the Income-tax Act Section 143(3) of the Income-tax Act Section 68 of the Income-tax Act

Issues it is cited on

genuineness of the transaction section 68 previous year transfer company section 143(3)person document business

Judgments citing 263 ITR 626/130 Taxman 689 (Cal.) and CIT v. Rathi Finiease Ltd.

Heritage Hospitals Ltd, New Delhi vs. DCIT, Circle-11(1), New Delhi

ITA 4090/DEL/2018[2014-15]Status: DisposedITAT Delhi30 Oct 2024AY 2014-15

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Anand Kumar Pandey, AdvFor Respondent: Shri Sandeep Kumar Mishra, Sr. DR

Section 142(1)Section 143(2)Section 143(3)Section 68

…iii) CIT Vs. Oasis Hospitalities Pvt Ltd 333 ITR 119 iv) CIT vs. Nova Promoters and Finance Lease Pvt limited 342 ITR 169 Nivendan Vanijya Niyojay Limited Calcutta v) vi) Hindustan Tea Trading Company Limited;182 CTR 585(Cal) vii) M/ s Rathi Finlease Limited; 215 CTR 429(MP) viii) Dasrath Lal Agrawal, Ratlam vs Department Of Income Tax on 9 November, 2011 ITA 0.158/Ind/2009 ITAT Indore 16. In its rejoinder, the ld. counsel for the assessee reiterated that all the necessary documents to establish the three limbs of section 68 of the I T Act were filed. At this point, he argued that the Assessing Officer had not…

Kalindee Estates Private Limited, Jaipur vs. Income Tax Officer, Jaipur

ITA 770/JPR/2024[2010-2011]Status: DisposedITAT Jaipur21 Oct 2024AY 2010-2011

For Appellant: Sh. Tarun Mittal, CAFor Respondent: Sh. Anup Singh, Addl. CIT

Section 143(3)Section 147Section 68

…f even if the sum is credited as share application money. In this regard reliance is placed over the following judgments:- CIT Vs Sophia Finance Limited (Del-FB) 205 ITR 98 CIT Vs Nivedan Vanijyya Niyojan Ltd. (Cal) 263 ITR 623 CIT Vs Rathi Finlease Ltd. (MP) 215 CTR 429] As regards the contention that the case of M/s Satyatej Vyapar Pvt. Ltd. has been completed by ITO, Ward 5(1), Kolkata under section 147/143(3) wherein bank entries of M/s Satyatej Vyapaar Pvt. Ltd. has been considered and no adverse inference has been drawn by the Ld. AO. However, on going through the said assessment order it has been noticed t…

Kalubhai Dulabhai Golaviya, Surat vs. The Deputy Commissioner of Income Tax, Circle-2, Surat

In the result, ground raised by the assessee is allowed

ITA 619/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

For Appellant: Shri Ashwin K Parekh, C.AFor Respondent: Shri Ashok B.Koli, CIT-DR &

Section 132Section 143(2)Section 143(3)Section 153ASection 45(3)Section 54F

…h as CIT v. Dwarkadhish Investment (P.) Ltd. [2010] 194 Taxman 43 (Delhi), CIT v. Sophia Finance Ltd. [1994] 205 ITR 98 /[1993] 70 Taxman 69 (Delhi), CIT v. Kundari Investment Ltd. [2003] 263 ITR 626/130 Taxman 689 (Cal.) and CIT v. Rathi Finiease Ltd. [2008] 215 CTR 429 (M.P.). The Creditworthiness or financial strength of the creditor can be proved by producing the bank statement of the creditor showing that it had sufficient balance in its accounts to enable it to advance money to the assessee. The genuineness of the transaction is to be demonstrated by showing that the assessee had, in fact, received money fr…

Assistant Commissioner of Income Tax, Cir.2(1)(1), Surat vs. M/S Galaxi Filaments, Surat

In the result, the appeal of the Revenue is dismissed

ITA 35/SRT/2022[2017-18]Status: DisposedITAT Surat30 Jan 2023AY 2017-18

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.35/Srt/2022 (िनधा"रणवष" / Assessment Year: (2017-18) (Physical Court Hearing) Assistant Commissioner Of M/S Galaxy Filaments Income-Tax, Circle-2(1)(1), Room 13-14, Sanskruti Industrial Vs. 6Th No.612, Floor, Aayakar Estate, Nr. Diamond Rose Bhavan, Nr. Majura Gate, Surat- Nursery, Laskana, Surat-395013 395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aapfg 6252 M (Assessee ) (Respondent)

For Appellant: Shri Rasesh Shah, C.AFor Respondent: Shri Vinod Kuamr, Sr-D.R

Section 143(3)Section 68

…h as CIT v. Dwarkadhish Investment (P.) Ltd. [2010] 194 Taxman 43 (Delhi), CIT v. Sophia Finance Ltd. [1994] 205 ITR 98 /[1993] 70 Taxman 69 (Delhi), CIT v. Kundari Investment Ltd. [2003] 263 ITR 626/130 Taxman 689 (Cal.) and CIT v. Rathi Finiease Ltd. [2008] 215 CTR 429 (M.P.). The Creditworthiness or financial strength of the creditor can be proved by producing the bank statement of the creditor showing that it had sufficient balance in its accounts to enable it to advance money to the assessee. The Genuineness of the transaction is to be demonstrated by showing that the assessee had, in fact, received money fr…

D. J. Stock Broking Private Limited, Ahmedabad vs. The Income Tax Officer, Ward-1(1)(4), Ahmedabad

In the result, ground number 1 of the assessee’s appeal is allowed

ITA 1570/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad24 Jun 2022AY 2011-12

For Appellant: Shri P.D. Shah, A.RFor Respondent: Shri Atul Pandey, Sr. D.R

Section 147Section 14ASection 68

…rcial & Industrial Co. (P) Ltd., Cal. 187 ITR 596 and iv) KCN Chandrasekhar Vs. ACIT (ITAT Bang.) 66 TTJ 355. v) CIT Vs. Sophia Finance Ltd. (Del.FB) 205 ITR 98 vi) CIT Vs. Nivedan Vanijya Niyojan Ltd. (Cal.) 263 ITR 623. vii) CIT Vs. Rathi Finlease Ltd. (MP) 215 CTR 429. viii) Dingra Global Credence P. Ltd. Vs. ITO (ITAT) Del. ix) Agarwal Coal Corporation (P) Ltd. Vs. Addl.CIT (ITAT, Indore) 135 ITD 270. In view of the above facts and circumstances of the case, judicial pronouncements and also the facts as elaborately discussed in the assessment order and appellate order in the case of the assessee on similar i…

ACIT, Central Circle-19, New Delhi vs. M/S K.R. Pulp & Papers Ltd, New Delhi

In the result, the appeal of the Revenue is

ITA 5064/DEL/2017[2009-10]Status: DisposedITAT Delhi31 Mar 2022AY 2009-10

Bench: Shri R.K. Panda & Shri N.K. Choudhry

For Appellant: Ms. Monika Aggarwal, AdvocateFor Respondent: Smt. Sunita Singh, CIT-DR

Section 132Section 143(3)Section 147Section 80I

…vt Ltd 221 TAXMAN 0014 (Del.) 7. Globus Securities & Finance Pvt Ltd 224 TAXMAN 237 (Delhi) 8. Empire Buittech Pvt. Ltd 366ITR 110 (Delhi) 9. ONASSIS AXLES PRIVATE LIMITED 364 ITR 53 (Delhi) 10. FOCUS EXPORTS PVT. LTD. 111 DTR 0012 (Del) 11. RathiFinlease Ltd 215 CTR 429 MP 12. Kundan Investment Ltd 263 ITR 626 (Cat) 13. Korlay Trading Co. Ltd 232 ITR 820 (Cat) 14. SumatiDayai 214 ITR 801 (SC) 15. Power Drugs Ltd. 245 CTR 623 P & H 16. Nova Promoters &Finiease (P) Ltd 342 ITR 169 (Del.) 17. AZEEM INVESTMENT PVT LTD 252 CTR 0217 Del.) 18. MAJOR METALS LTD 359 ITR 0450 (Bom) 19. INDEPENDENT MEDIA PVT. LTD. 25 taxma…