2nd September, 2015 (SC). (ii) CIT, Delhi v. SMC Share Brokers Ltd.

159 Taxmann 306High Court2007#2367 most cited

What is 2nd September, 2015 (SC). (ii) CIT, Delhi v. SMC Share Brokers Ltd. authority for?

The court considers statements made by an assessee regarding unrecorded cash receipts utilized for business expenses as reflecting unexplained or unaccounted work in progress.

49

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2025.

Also referred to as

SMC Share Brokers Ltd. · section 68 · unaccounted cash · unrecorded receipts · business expenses · work in progress · unexplained income · cash credit · assessment

Also reported as

67 TTJ 109

Sections most often in play

Section 10(38)Section 143(3)Section 14ASection 68Section 10(34)Section 115BBESection 131Section 131(1A)

Issues it is cited on

section 131reassessment proceedingsassistant commissionerundisclosed incomesection 69section 68section 13transfersection 143persontotal incomebusiness

Judgments citing 2nd September, 2015 (SC). (ii) CIT, Delhi v. SMC Share Brokers Ltd.

M/S. Best City Developers (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1705/DEL/2014[2008-09]Status: DisposedITAT Delhi31 May 2016AY 2008-09

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best City Developers India Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1704/DEL/2014[2007-08]Status: DisposedITAT Delhi31 May 2016AY 2007-08

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best City Projects (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1703/DEL/2014[2007-08]Status: DisposedITAT Delhi31 May 2016AY 2007-08

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best City Projects (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1702/DEL/2014[2006-07]Status: DisposedITAT Delhi31 May 2016AY 2006-07

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best Infrastructure (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1701/DEL/2014[2008-09]Status: DisposedITAT Delhi31 May 2016AY 2008-09

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best Infrastructure (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1700/DEL/2014[2007-08]Status: DisposedITAT Delhi31 May 2016AY 2007-08

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best Infrastructure (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1699/DEL/2014[2006-07]Status: DisposedITAT Delhi31 May 2016AY 2006-07

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

M/S. Best Infrastructure (India) Pvt. Ltd., New Delhi vs. ACIT, New Delhi

ITA 1698/DEL/2014[2005-06]Status: DisposedITAT Delhi31 May 2016AY 2005-06

Bench: Shri G.D. Agrawalbefore Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawalg.D. Agrawal & And Shri Sudhanshu Srivastava Shri Sudhanshu Srivastavashri Sudhanshu Srivastava Shri Sudhanshu Srivastava

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘ DELHI DELHI BENCH ‘ BENCH ‘A’ : NEW DELHI BENCH ‘ ’ : NEW DELHI ’ : NEW DELHI ’ : NEW DELHI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND AND BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT G.D. AGRAWAL, VICE PRESIDENT AND AND SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER SHRI SUDHANSHU SRIVASTAVA SHRI SUDHANSHU SRIVASTAVA , JUDICIAL MEMBER , JUDICIAL MEMBER , JUDICIAL MEMBER ITA…

ITO, New Delhi vs. M/S. Softline Creations (P) Ltd., New Delhi

The appeal is dismissed as no substantial question of law arises

ITA 744/DEL/2012[2003-04]Status: DisposedITAT Delhi10 Feb 2016AY 2003-04

Bench: Shri N.K.Saini & Shri Vijay Pal Raoito, Vs. M/S. Softline Creations (P) Ltd., Ward-9(1), Room 38, Rani Jhanshi Road, No.190, Jhandewallan, New Delhi C.R.Building, New Pan:Aaecs6591B Delhi (Assessee) (Respondent)

For Appellant: Smt. Amrapally Das, CIT DRFor Respondent: Sh. Ved Jain, CA
Section 147Section 148Section 68

…He has also relied upon the following judgement:- 1. Prakash Chand Nahata Vs.Union of India 163 CTR 310 (SC) Page No. 5 2. Kishan Chand Chellaram Vs. CIT 125 ITR 713 (SC), 3. CIT Vs. SMC Share Brokers Ltd. 288 ITR 345 (Del) 4. Alok Aggarwal Vs. DCIT (2000) 67 TTJ 109 (Del) 7. Alternatively the ld AR has submitted the alleged bogus share holders are all incorporated and active companies as per record of the ROC and the master data detail along with PAN was also submitted before the AO by the assessee. All these entities are having their bank account, payment were made by them to the assessee company through ba…