31 (Guj), CIT v. Vineet Gupta

60 DTR 148Reported decision#7976 most cited
14

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2022 to 2025.

Sections most often in play

Section 153CSection 131Section 132(4)Section 292CSection 132(4A)Section 271AABSection 69Section 133A

Issues it is cited on

arbitrary and capricioussection 132(1)(a)section 158b(b)section 158bb(1)dumb documentssection 158bdsection 158bbprotective assessmentaudi alteram partemsection 132(4a)section 271aabsection 153c(1)

Judgments citing 31 (Guj), CIT v. Vineet Gupta

M/S. GLOBAL STAR INDMETAL PRIVATE LIMITED ,UDUPI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALORE

In the result, both the appeals of the assessee are allowed

ITA 52/BANG/2024[2016-17]Status: DisposedITAT Bangalore30 Apr 2025AY 2016-17

Bench: Shri Laxmi Prasad Sahushri. Keshav Dubey

For Appellant: Smt. Sheetal Borker, AdvocateFor Respondent: Shri Subramanian S, JCIT(DR)(ITAT), Bengaluru
Section 132(4)Section 133ASection 147

…s interpreted by the ld. AO that these are unaccounted cash payments made by present assessee. But no amount or date has been mentioned in it. At this point it is appropriate to consider few judgements on this count. a) CIT Vs.K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. b) In the case of K.V. Laxmi Savitri Devi Vs. ACI…

M/S. GLOBAL STAR INDMETAL PRIVATE LIMITED ,UDUPI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, both the appeals of the assessee are allowed

ITA 51/BANG/2024[2015-16]Status: DisposedITAT Bangalore30 Apr 2025AY 2015-16

Bench: Shri Laxmi Prasad Sahushri. Keshav Dubey

For Appellant: Smt. Sheetal Borker, AdvocateFor Respondent: Shri Subramanian S, JCIT(DR)(ITAT), Bengaluru
Section 132(4)Section 133ASection 147

…s interpreted by the ld. AO that these are unaccounted cash payments made by present assessee. But no amount or date has been mentioned in it. At this point it is appropriate to consider few judgements on this count. a) CIT Vs.K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. b) In the case of K.V. Laxmi Savitri Devi Vs. ACI…

NIYAZ SEA FOODS ,MANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 , MANGALORE

In the result, appeal of the assessee in ITA

ITA 1019/BANG/2024[2018-19]Status: DisposedITAT Bangalore12 Aug 2024AY 2018-19

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Smt. Sheetal, A.RFor Respondent: Shri V. Parithivel, D.R
Section 132Section 133ASection 143Section 143(3)Section 153ASection 153CSection 2Section 41Section 41(1)

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148. In all these judgements it was held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 10.3 In the case of K.V. L…

NIYAZ SEA FOODS,MANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, appeal of the assessee in ITA No

ITA 1018/BANG/2024[2017-18]Status: DisposedITAT Bangalore12 Aug 2024AY 2017-18

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Smt. Sheetal, A.RFor Respondent: Shri V. Parithivel, D.R
Section 132Section 133ASection 143Section 143(3)Section 153ASection 153CSection 2Section 41Section 41(1)

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148. In all these judgements it was held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 10.3 In the case of K.V. L…

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1065/BANG/2023[2017-18]Status: DisposedITAT Bangalore22 Mar 2024AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 11.6 In the case of K.V. Laxmi Savitri Devi Vs. A…

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1064/BANG/2023[2016-17]Status: HeardITAT Bangalore22 Mar 2024AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 11.6 In the case of K.V. Laxmi Savitri Devi Vs. A…

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1062/BANG/2023[2015-16]Status: DisposedITAT Bangalore22 Mar 2024AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 11.6 In the case of K.V. Laxmi Savitri Devi Vs. A…

SRI PRAKASH BHAJANDAS TALREJA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(3), BENGALURU

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1061/BANG/2023[2014-15]Status: DisposedITAT Bangalore22 Mar 2024AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…, DCIT Central Circle Vs. Sri Krishna Yadav 12 taxmann.com 4 (Hyd), Gayatri Enterprises Vs. ITO 116 Taxmann.com 359 (Guj), ITO Vs. Bharat A. Mehta 60 taxmann.com 31 (Guj), CIT Vs. Vineet Gupta 46 taxmann.com 439 (Del), CIT Vs. K.V. Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein held that no addition can be made on the basis of loose papers which does not contain the name and date of payment. The department is precluded in drawing inference on the basis of suspicion, conjectures and surmises and no addition can be made on the basis of such document or loose slips. 11.6 In the case of K.V. Laxmi Savitri Devi Vs. A…

DOLLARS COLONY PHASE-1,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJAHMUNDRY

In the result, appeals filed by the assessee are allowed and the cross appeals filed by the revenue are dismissed

ITA 220/VIZ/2022[2020-21]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2020-21

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.218-220/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19 To2020-21) M/S Dollars Colony Vs. Asst.Commissioner Of Phase-1, D.No.40-3/1-46 Income Tax Krishna Nagar, Venkateswarapuram Central Circle-2 Vijayawada Rajahmundry [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.176/Viz/2022 & 177/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19& 2019-20) Asst.Commissioner Of Income Tax Vs. M/S Dollars Colony Central Circle-2 Phase-1, D.No.40-3/1-46 Rajahmundry Krishna Nagar Venkateswarapuram Vijayawada [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri M.V.Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing 21.02.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 131Section 132Section 132(4)Section 153C

…the assessment order did not contain the name of the assessee, establishing that the assessee received on money beyond the sale consideration mentioned in the sale deeds. The assessee also relied on the decision in the case of K.V.Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein it was held by the ITAT Hyderabad Bench that “ no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dumb document or loose sheets. T…

DOLLARS COLONY PHASE-1,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJAHMUNDRY

In the result, appeals filed by the assessee are allowed and the cross appeals filed by the revenue are dismissed

ITA 219/VIZ/2022[2019-20]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2019-20

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.218-220/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19 To2020-21) M/S Dollars Colony Vs. Asst.Commissioner Of Phase-1, D.No.40-3/1-46 Income Tax Krishna Nagar, Venkateswarapuram Central Circle-2 Vijayawada Rajahmundry [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.176/Viz/2022 & 177/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19& 2019-20) Asst.Commissioner Of Income Tax Vs. M/S Dollars Colony Central Circle-2 Phase-1, D.No.40-3/1-46 Rajahmundry Krishna Nagar Venkateswarapuram Vijayawada [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri M.V.Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing 21.02.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 131Section 132Section 132(4)Section 153C

…the assessment order did not contain the name of the assessee, establishing that the assessee received on money beyond the sale consideration mentioned in the sale deeds. The assessee also relied on the decision in the case of K.V.Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein it was held by the ITAT Hyderabad Bench that “ no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dumb document or loose sheets. T…

DOLLARS COLONY PHASE-1,VIJAYAWADA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJAHMUNDRY

In the result, appeals filed by the assessee are allowed and the cross appeals filed by the revenue are dismissed

ITA 218/VIZ/2022[2018-19]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.218-220/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19 To2020-21) M/S Dollars Colony Vs. Asst.Commissioner Of Phase-1, D.No.40-3/1-46 Income Tax Krishna Nagar, Venkateswarapuram Central Circle-2 Vijayawada Rajahmundry [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.176/Viz/2022 & 177/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19& 2019-20) Asst.Commissioner Of Income Tax Vs. M/S Dollars Colony Central Circle-2 Phase-1, D.No.40-3/1-46 Rajahmundry Krishna Nagar Venkateswarapuram Vijayawada [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri M.V.Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing 21.02.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 131Section 132Section 132(4)Section 153C

…the assessment order did not contain the name of the assessee, establishing that the assessee received on money beyond the sale consideration mentioned in the sale deeds. The assessee also relied on the decision in the case of K.V.Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein it was held by the ITAT Hyderabad Bench that “ no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dumb document or loose sheets. T…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, RAJAHMUNDRY vs. DOLLARS COLONY PHASE-1, VIJAYAWADA

In the result, appeals filed by the assessee are allowed and the cross appeals filed by the revenue are dismissed

ITA 177/VIZ/2022[2019-20]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2019-20

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.218-220/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19 To2020-21) M/S Dollars Colony Vs. Asst.Commissioner Of Phase-1, D.No.40-3/1-46 Income Tax Krishna Nagar, Venkateswarapuram Central Circle-2 Vijayawada Rajahmundry [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.176/Viz/2022 & 177/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19& 2019-20) Asst.Commissioner Of Income Tax Vs. M/S Dollars Colony Central Circle-2 Phase-1, D.No.40-3/1-46 Rajahmundry Krishna Nagar Venkateswarapuram Vijayawada [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri M.V.Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing 21.02.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 131Section 132Section 132(4)Section 153C

…the assessment order did not contain the name of the assessee, establishing that the assessee received on money beyond the sale consideration mentioned in the sale deeds. The assessee also relied on the decision in the case of K.V.Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein it was held by the ITAT Hyderabad Bench that “ no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dumb document or loose sheets. T…

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRL CIRCLE-2, RAJAHMUNDRY vs. DOLLARS COLONY PHASE-1, VIJAYAWADA

In the result, appeals filed by the assessee are allowed and the cross appeals filed by the revenue are dismissed

ITA 176/VIZ/2022[2018-19]Status: DisposedITAT Visakhapatnam16 Mar 2023AY 2018-19

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपील सं./I.T.A.No.218-220/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19 To2020-21) M/S Dollars Colony Vs. Asst.Commissioner Of Phase-1, D.No.40-3/1-46 Income Tax Krishna Nagar, Venkateswarapuram Central Circle-2 Vijayawada Rajahmundry [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.176/Viz/2022 & 177/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2018-19& 2019-20) Asst.Commissioner Of Income Tax Vs. M/S Dollars Colony Central Circle-2 Phase-1, D.No.40-3/1-46 Rajahmundry Krishna Nagar Venkateswarapuram Vijayawada [Pan : Aacad6957E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri M.V.Prasad, Ar प्रत्यधथी की ओर से / Respondent By : Shri M.N.Murthy Naik, Cit(Dr) सुनवधई की तधरीख / Date Of Hearing 21.02.2023 : घोर्णध की तधरीख/Date Of Pronouncement : 16.03.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy:

For Appellant: Shri M.V.Prasad, ARFor Respondent: Shri M.N.Murthy Naik, CIT(DR)
Section 131Section 132Section 132(4)Section 153C

…the assessment order did not contain the name of the assessee, establishing that the assessee received on money beyond the sale consideration mentioned in the sale deeds. The assessee also relied on the decision in the case of K.V.Laxmi Savitri Devi Vs. ACIT 60 DTR 148, wherein it was held by the ITAT Hyderabad Bench that “ no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dumb document or loose sheets. T…

SHRI ASHOK DHARENDRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

ITA 256/JPR/2018[2015-16]Status: DisposedITAT Jaipur12 Apr 2022AY 2015-16

Bench: Shri Sandeep Gosain, Jm & Shri Rathod Kamlesh Jayantbhai, Am Vk;Dj Vihy La-@Ita No. 256/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2015-16 Shri Ashok Dharendra, Cuke D.C.I.T. 23, Shivraj Niketan Scheme, Vs. Central Circle-3, Gautam Marg, Nr Vaishali Jaipur. Nagar Circle, Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aavpd 6554 B Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri S. Najmi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 02/02/2022 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 12 /04/2022 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld. Cit(A)- 4, Jaipur Dated 01/12/2017 For The A.Y. 2015-16 In The Matter Of Order Passed U/S 143(3) Read With Section 153B(1)(B) Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. On The Facts & In The Circumstances Of The Case The Ld. Cit(A) Has Grossly Erred In Confirming The Addition Of Rs. 1,50,00,000/- Made In The Assessment Completed U/S 143(3) R.W.S. 153B(1)(B) Solely On The Basis Of Statements Recorded During The Course Of Search Which Stood Retracted By The Assessee Through An Affidavit Filed. Thus, The Addition Made Solely On The Basis Of Such Retracted Statements Deserves To Be Deleted.

For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri S. Najmi (CIT-DR)
Section 132Section 143(3)Section 153B(1)(b)Section 3

…A.O. through post search enquires and co-relate the material found with the business of the assessee, without which no addition can be made on the basis of a loose paper. The Coordinate Bench of ITAT, Hyderabad, in the case of K.V. Laxmi Savitri Devi Vs ACIT 60 DTR 148 has held that no addition can be made on the basis of a loose paper which does not contain the name and the date of payment. The department is precluded in drawing inferences on the basis of suspicion, conjecture and surmises and no addition can be made on the basis of such dump document or loose sheets. The ld AR also invited our attention to the…

31 (Guj), CIT v. Vineet Gupta (60 DTR 148) — Cited in 14 Judgments | BharatTax