3.Racmann Springs (P) Ltd. v. DCIT

55 ITD 159Income Tax Appellate Tribunal1995#14284 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2021 to 2024.

Sections most often in play

Section 115BBE Section 132 Section 143(3)Section 153A Section 250 Section 68

Issues it is cited on

unexplained cash credit section 115bbe section 115b double taxation income-tax officer section 133(6)section 68 section 115 previous year section 11 section 25 person

Judgments citing 3.Racmann Springs (P) Ltd. v. DCIT

Dilip Maheshwari, Jaipur vs. Assistant Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, the appeal of the assessee is allowed

ITA 666/JPR/2024[2017-18]Status: DisposedITAT Jaipur30 Sept 2024AY 2017-18

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma, CA &For Respondent: Shri Ajey Malik, Ld. CIT

Section 115BSection 132Section 143(2)Section 143(3)Section 153ASection 250Section 68

…ed that cash was received for the same cash advance slips found in course of search which were unexplained and, therefore, the same was surrendered as income of that year. The Hon’ble ITAT Delhi Bench, Delhi in case of Racmann Springs Pvt. Ltd. Vs DCIT (1995) 55 ITD 159 held that : “On having found that several drafts had been deposited in bank without mentioning names of parties in corresponding vouchers except name of stations like Calcutta, etc., in some cases, Assessing Officer observed in his original order that assessee was asked to give names and explain nature and source of those deposits but he had faile…

Khoobsoorat Fabrics Pvt Ltd., New Delhi vs. ITO Ward 14(3), New Delhi

Appeal are allowed

ITA 428/DEL/2024[2017-18]Status: DisposedITAT Delhi11 Sept 2024AY 2017-18

Bench: Shri Kul Bharat[Assessment Year: 2017-18

Section 115BSection 68

…per Book) INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ⅰ) ITA No. 6520/D/2018 AY 2014-15 M/s Singhal Exim (P) Ltd. (extract at pages 180-181 of Paper Book) ii) ITA No. 1220/D/2011 AY 2006-07 Kishore JeramBhai Khaniya (extract at page 181 of Paper Book) iii) 55 ITD 159 (Del) Racmann Springs (P) Ltd. v. DCIT (extract at page 181-182 of Paper Book) AHMEDABAD BENCH i) ITA No. 1652/Ahd/2011 Shri Pavan kumar Bhagatram (extract at page 182-183 of Paper Book) 21 HYDERABAD BENCH i) ITA No. 264/Hyd/2011 AY 2006-07 dated 13.11.2013 S.B.Steel Industries (extract at page 183 of Paper Book) 10.3 Apart from the above, at…

Mukesh Parshottambhai Mangukiya, Surat vs. ITO Ward-3(2)(5), Surat

In the result, this ground of appeal is partly allowed

ITA 247/SRT/2022[2017-18]Status: DisposedITAT Surat15 Jun 2023AY 2017-18

Bench: Shri Pawan Singh(Physical Hearing) Mukesh Parshottambhai Mangukiya, I.T.O., 58-59, Jalaram Society, Ved Road, Ward-3(2)(5) Vs. Surat (Gujarat). Surat. Pan No. Arxpm 7000 N Appellant/ Assessee Respondent/ Revenue

Section 115BSection 254(1)Section 68

…ook and no adverse inference can be drawn against the assessee. The ld. AR of the assessee submits that 6 Mukesh Parshottambhai Mangukiya Vs ITO Section 68 cannot be applied against the assessee in view of decision of Hon'ble Delhi High Court in Racman Spring 55 ITD 159 (Delhi). 7. On the other hand, the ld. Sr. DR for the revenue submits that explanation of assessee about the loan and advances is not sacrosanct. In the earlier years/preceeding assessment years, the assessee has shown gross receipt of Rs. 7,17,940/- and offered taxable income of Rs. 4,57,317/- on gross receipt of Rs. 8,76,500/-. The advances are…

H. N. Agri Service Private Limited, Srinagar vs. Deputy Commissioner of Income Tax Central Circle, Jammu

In the result, the appeal of the revenue bearing ITA No

ITA 94/ASR/2021[2017-18]Status: DisposedITAT Amritsar31 Jan 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 115BSection 133(6)Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No.150/Asr/2021 Assessment Year: 2017-18 Asstt. Commissioner of Income Vs. M/s HN Agri Serve P. Tax Central Circle-Jammu. Ltd. New Fruits Complex, Parimpora, Qamerwari, Srinagar. [PAN: AADCH1531R] (Appellant) (Respondent) I.T.A. No.94/Asr/2021 Assessment Year: 2017-18 M/s HN Agri Serve P. Ltd. New Vs. Asstt. Commissioner of Fruits Complex, Parimpora, Income Tax Central Qamerwari, Srinagar. Circle-Jammu. [PAN: AADCH1531R] (Appellant) (Respondent) Appellant…

Assistant Commissioner of Income Tax Central Circle, Jammu vs. M/S Hn Agri Serve Private Limited, Srinagar

In the result, the appeal of the revenue bearing ITA No

ITA 150/ASR/2021[2017-18]Status: DisposedITAT Amritsar10 Jan 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 115BSection 133(6)Section 143(3)Section 250Section 68

Shri Dinesh Ojha, Jaipur vs. Income Tax Officer, Ward-6-4, Jaipur

In the result appeal of the assessee is partly allowed

ITA 40/JPR/2019[2009-10]Status: DisposedITAT Jaipur27 Apr 2022AY 2009-10

For Appellant: Sh. Mahendra Gargieya (Adv.)For Respondent: Smt. Monisha Choudhary (JCIT)

Section 127Section 142(1)Section 147Section 148Section 44ASection 80C

…r after incurring all the required expenses. Hence keeping in mind the aspect of human probability and surrounding circumstances, no addition was unwarranted on this account. 1.5 Supporting case law: 1.5.1 In case of RacmannSprings (P.) Ltd. Vs. DCIT [1995] 55 ITD 159 (Delhi ITAT) were it was held that: "Section 68 of the Income-tax Act, 1961- Cash credits Assessment year 1981-82 - Assessee filed return showing loss for current year as well as brought-forward losses - Original assessment was made on 8-10-1984, but on remand, fresh assessment was made on 13-1-1992 - On having found that several drafts had been…

The ACIT-5(1), Indore vs. M/S. Sunderdeep Construction Pvt. Ltd., Indore

In the result all the grounds raised by the Revenue are

ITA 380/IND/2017[2012-13]Status: DisposedITAT Indore25 Mar 2021AY 2012-13

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Boradassessment Year 2012-13

Section 143(2)Section 143(3)Section 40A(3)Section 41(1)(a)Section 68

…er. 9. Reliance is placed on following judicial precedence’s – a. Hon’ble Hyderabad Bench of ITAT in the case of SB Steel Industries – ITA No. 264 of 2011 dated 13.11.2013 b. Hon’ble Delhi ‘A’Bench of ITAT in the case of Rachmann Springs (P) Limited – [1995] 55 ITD 159 dated 02.06.1995 c. Hon’ble Delhi ‘B’ Bench of ITAT in the case of Decent Foods Private Limited – ITA No. 2471 of 2010 dated 07.12.2010 10. Ld. AO has brought nothing on record to establish that the money emanated from coffers of the assessee. Reliance is placed on following judicial precedents – a. Kamdhenu Steel & Alloys Limited - Hon’ble Delhi…