322 ITR 396 (Del) CIT v. Ashwani Gupta

306 ITR 27High Court2008#1288 most cited

What is 322 ITR 396 (Del) CIT v. Ashwani Gupta authority for?

Statements recorded under Section 131 of the Income Tax Act, 1961, have no independent evidentiary value and therefore cannot be relied upon to draw any adverse opinion during assessment proceedings.

88

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Ashwani Gupta · 322 ITR 396 · Section 131 · evidentiary value · statements recorded · adverse opinion · Section 153A · assessment proceedings · Delhi High Court · Income Tax Act 1961

Sections most often in play

Section 143(3)Section 153ASection 69CSection 147Section 148Section 149Section 153CSection 10A

Issues it is cited on

section 115adsection 2(1a)section 2(1)section 66section 153a proceedingssection 60section 63section 2(14)(iii)peak credit theorysection 65section 115aaudi alteram partem

Judgments citing 322 ITR 396 (Del) CIT v. Ashwani Gupta

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-27, DELHI, DELHI vs. NKG INFRASTRUCTURE LIMITED, DELHI

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue is dismissed

ITA 5109/DEL/2024[2013-14]Status: DisposedITAT Delhi13 Jun 2025AY 2013-14

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

For Appellant: Shri Rajat Jain, CAFor Respondent: Shri Sunil Kumar Yadav, CIT DR
Section 143(2)Section 143(3)Section 148Section 153ASection 68Section 69C

…laws:  Andaman Timber Industries v Commissioner of Central Excise, Kolkata II [2015] 62 taxmann.com 3, Supreme Court  Commissioner of Income tax v Pradeep Kumar Gupta [2008] 303 ITR 195 (High Court - Delhi)  Commissioner of Income tax v Rajesh Kumar [2008] 306 ITR 27 (HC Delhi) 4. The case of the appellant has been already assessed under section 153A r.w.s. 143(3) of the Income tax Act, 1961 and there is no failure on the part of the appellant to furnished fully and truly all the material fact necessary for its assessment and therefore reopening was merely on the basis of change of opinion on the same subject…

NKG INFRASTRUCTURE LIMITED,NEW DELHI vs. DCIT, CENTRAL CIRCLE-27, DELHI

In the result, the appeal filed by the assessee is partly allowed and the appeal filed by the Revenue is dismissed

ITA 4749/DEL/2024[2013-14]Status: DisposedITAT Delhi13 Jun 2025AY 2013-14

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

For Appellant: Shri Rajat Jain, CAFor Respondent: Shri Sunil Kumar Yadav, CIT DR
Section 143(2)Section 143(3)Section 148Section 153ASection 68Section 69C

…laws:  Andaman Timber Industries v Commissioner of Central Excise, Kolkata II [2015] 62 taxmann.com 3, Supreme Court  Commissioner of Income tax v Pradeep Kumar Gupta [2008] 303 ITR 195 (High Court - Delhi)  Commissioner of Income tax v Rajesh Kumar [2008] 306 ITR 27 (HC Delhi) 4. The case of the appellant has been already assessed under section 153A r.w.s. 143(3) of the Income tax Act, 1961 and there is no failure on the part of the appellant to furnished fully and truly all the material fact necessary for its assessment and therefore reopening was merely on the basis of change of opinion on the same subject…

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

ITA 2938/DEL/2023[2017-18]Status: DisposedITAT Delhi30 Aug 2024AY 2017-18

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…are Broker Limited v) 293 ITR 43 (Del) CIT vs. S.M. Aggarwal vi) 295 ITR 105 (Del) CIT vs. Dharam Pal Prem Chand Ltd. vii) 303 ITR 95 (Del) CIT vs. Pradeep Kumar Gupta viii) 322 ITR 396 (Del) CIT vs. Ashwani Gupta ix) 379 ITR 367 (Del) CIT v Sunil Aggarwal x) 382 ITR 639 (Del) Roger Enterprise Ltd vs. CIT xi) 2024 SCC Online Del 4012 PCIT vs. Pavitra Realcon (P) Ltd. (pages 438-451 of JPB-II) 13 THAT STATEMENTS HAS BEEN RECORDED UNDER SECTION 131 OF THE ACT HAS NO EVIDENTIARY VALUE AND THEREFORE, CANNOT BE RELIED UPON TO DRAW ANY ADVERSE OPINION. 13.1 It is submitted that it is evident from page 42 of Paper Book…

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

ITA 2937/DEL/2023[2016-17]Status: DisposedITAT Delhi30 Aug 2024AY 2016-17

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…are Broker Limited v) 293 ITR 43 (Del) CIT vs. S.M. Aggarwal vi) 295 ITR 105 (Del) CIT vs. Dharam Pal Prem Chand Ltd. vii) 303 ITR 95 (Del) CIT vs. Pradeep Kumar Gupta viii) 322 ITR 396 (Del) CIT vs. Ashwani Gupta ix) 379 ITR 367 (Del) CIT v Sunil Aggarwal x) 382 ITR 639 (Del) Roger Enterprise Ltd vs. CIT xi) 2024 SCC Online Del 4012 PCIT vs. Pavitra Realcon (P) Ltd. (pages 438-451 of JPB-II) 13 THAT STATEMENTS HAS BEEN RECORDED UNDER SECTION 131 OF THE ACT HAS NO EVIDENTIARY VALUE AND THEREFORE, CANNOT BE RELIED UPON TO DRAW ANY ADVERSE OPINION. 13.1 It is submitted that it is evident from page 42 of Paper Book…

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

ITA 2936/DEL/2023[2015-16]Status: DisposedITAT Delhi30 Aug 2024AY 2015-16

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…are Broker Limited v) 293 ITR 43 (Del) CIT vs. S.M. Aggarwal vi) 295 ITR 105 (Del) CIT vs. Dharam Pal Prem Chand Ltd. vii) 303 ITR 95 (Del) CIT vs. Pradeep Kumar Gupta viii) 322 ITR 396 (Del) CIT vs. Ashwani Gupta ix) 379 ITR 367 (Del) CIT v Sunil Aggarwal x) 382 ITR 639 (Del) Roger Enterprise Ltd vs. CIT xi) 2024 SCC Online Del 4012 PCIT vs. Pavitra Realcon (P) Ltd. (pages 438-451 of JPB-II) 13 THAT STATEMENTS HAS BEEN RECORDED UNDER SECTION 131 OF THE ACT HAS NO EVIDENTIARY VALUE AND THEREFORE, CANNOT BE RELIED UPON TO DRAW ANY ADVERSE OPINION. 13.1 It is submitted that it is evident from page 42 of Paper Book…

ANIL CHAUDHARY,NEW DELHI vs. ACIT CENTRAL CIRCLE-17, NEW DELHI

In the result, appeals filed by the assessee are allowed

ITA 2935/DEL/2023[2014-15]Status: DisposedITAT Delhi30 Aug 2024AY 2014-15

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…are Broker Limited v) 293 ITR 43 (Del) CIT vs. S.M. Aggarwal vi) 295 ITR 105 (Del) CIT vs. Dharam Pal Prem Chand Ltd. vii) 303 ITR 95 (Del) CIT vs. Pradeep Kumar Gupta viii) 322 ITR 396 (Del) CIT vs. Ashwani Gupta ix) 379 ITR 367 (Del) CIT v Sunil Aggarwal x) 382 ITR 639 (Del) Roger Enterprise Ltd vs. CIT xi) 2024 SCC Online Del 4012 PCIT vs. Pavitra Realcon (P) Ltd. (pages 438-451 of JPB-II) 13 THAT STATEMENTS HAS BEEN RECORDED UNDER SECTION 131 OF THE ACT HAS NO EVIDENTIARY VALUE AND THEREFORE, CANNOT BE RELIED UPON TO DRAW ANY ADVERSE OPINION. 13.1 It is submitted that it is evident from page 42 of Paper Book…

GOYAL VEGOILS LIMITED ,KASAR ,KOTA vs. DCIT , CIRCLE -2, KOTA

In the result ground no. 2 & 3 raised by the assessee

ITA 243/JPR/2024[2012-13]Status: DisposedITAT Jaipur27 Aug 2024AY 2012-13

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Rajendra Sisodia, CAFor Respondent: Sh. Anoop Singh, Addl. CIT
Section 143(3)Section 147Section 148Section 250

…T, (2008) 301 ITR 134 (MP) (vii) Bangodaya Cotton Mills Ltd. vs. CIT [2009] 21 DTK 200 (Cal) (viii) CIT Vs. Sanjeev Kumar Jain (2009) 310 ITR 178 (P&H) ( (ix) CIT & Anr. Vs. Land Development Corporation (2009) 316 ITR 328 (Kar) (x) CIT Vs. Rajesh Kumar (2008) 306 ITR 27 (Del) (xi) Heirs & LRs of Late Laxmanbhai S. Patel Vs. CIT (2009) 222 CTR (Guj) 138 (xii) CIT Vs. Pradeep Kumar Gupta (2008) 303 ITR 95 (Del) 20 Goyal Vegoils Ltd. vs. DCIT (xiii) CIT Vs. Dharam Pal Prem Chand Ltd. (2007) 295 ITR 105 (Del) (xiv) CIT Vs. A.N. Dyaneswaran (2008) 297 ITR 135 (Mad) (xv) CIT Vs. S.M Aggarwal 292 ITR 43 (xvi) Strapte…

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

ITA 245/JPR/2024[2012-13]Status: DisposedITAT Jaipur07 Aug 2024AY 2012-13

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Rajendra Sisodia AdvFor Respondent: Shri Rajesh Kumar Meena, Addl. CIT-DR
Section 10(38)Section 143(3)Section 148Section 68Section 69C

…T, (2008) 301 ITR 134 (MP) (vii) Bangodaya Cotton Mills Ltd. vs. CIT [2009] 21 DTK 200 (Cal) (viii) CIT Vs. Sanjeev Kumar Jain (2009) 310 ITR 178 (P&H) ( (ix) CIT & Anr. Vs. Land Development Corporation (2009) 316 ITR 328 (Kar) (x) CIT Vs. Rajesh Kumar (2008) 306 ITR 27 (Del) (xi) Heirs & LRs of Late Laxmanbhai S. Patel Vs. CIT (2009) 222 CTR (Guj) 138 (xii) CIT Vs. Pradeep Kumar Gupta (2008) 303 ITR 95 (Del) (xiii) CIT Vs. Dharam Pal Prem Chand Ltd. (2007) 295 ITR 105 (Del) (xiv) CIT Vs. A.N. Dyaneswaran (2008) 297 ITR 135 (Mad) (xv) CIT Vs. S.M Aggarwal 292 ITR 43 (xvi) Straptex India (P) Ltd. Vs. DCIT [2003] 8…

DCIT, CC-8, NEW DELHI vs. OPG SECURITIES PVT. LTD., NEW DELHI

In the result, the appeals in ITA No

ITA 59/DEL/2022[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

DCIT, CC-8, NEW DELHI vs. OPG SECURITIES PVT. LTD., NEW DELHI

In the result, the appeals in ITA No

ITA 58/DEL/2022[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

DCIT, CC-8, NEW DELHI vs. OPG SECURITIES PVT. LTD., DELHI

In the result, the appeals in ITA No

ITA 57/DEL/2022[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1824/DEL/2021[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1823/DEL/2021[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1822/DEL/2021[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT- CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1821/DEL/2021[2015-16]Status: DisposedITAT Delhi17 Oct 2023AY 2015-16

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1820/DEL/2021[2014-15]Status: DisposedITAT Delhi17 Oct 2023AY 2014-15

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1819/DEL/2021[2013-14]Status: DisposedITAT Delhi17 Oct 2023AY 2013-14

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

OPG SECURITIES PRIVATE LIMITED,NEW DELHI vs. DCIT, CC-8, NEW DELHI

In the result, the appeals in ITA No

ITA 1818/DEL/2021[2012-13]Status: DisposedITAT Delhi17 Oct 2023AY 2012-13

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1818/Del/2021 : Asstt. Year : 2012-13 ITA No. 1819/Del/2021 : Asstt. Year : 2013-14 ITA No. 1820/Del/2021 : Asstt. Year : 2014-15 ITA No. 1821/Del/2021 : Asstt. Year : 2015-16 ITA No. 1822/Del/2021 : Asstt. Year : 2016-17 ITA No. 1823/Del/2021 : Asstt. Year : 2017-18 ITA No. 1824/Del/2021 : Asstt. Year : 2018-19 OPG Securities Pvt. Ltd., Vs DCIT, 1st Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (APPELLANT) (RESPONDENT) PAN No…

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-5(1), MUMBAI vs. M/S SKYWAY INFRA PROJECTS PRIVATE LIMITED, MUMBAI

In the result, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, cross objections of the assessee are dismissed, whereas appeals of the revenue are par...

ITA 2665/MUM/2022[2013-14]Status: HeardITAT Mumbai28 Feb 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 & Assessment Year: 2014-15 & Assessment Year: 2015-16 & Assessment Year: 2016-17 & Assessment Year: 2017-18 & Assessment Year: 2018-19 & Assessment Year: 2019-20 & Assessment Year: 2020-21

…ssessee Therefore, the addition made to the income of the assessee Therefore, the addition made to the income of the assessee was not justified and liable to be deleted [Para 17) ied and liable to be deleted [Para 17)…” In the case of CIT v Rajesh Kumar[2008] 306 ITR 27 (Delhi) CIT v Rajesh Kumar[2008] 306 ITR 27 (Delhi) the CIT v Rajesh Kumar[2008] 306 ITR 27 (Delhi) Hon'ble High Court of Delhi has held that since material collected Hon'ble High Court of Delhi has held that since material collected Hon'ble High Court of Delhi has held that since material collected by revenue behind back of assessee was used agai…

AKANSHA JAIN,DELHI vs. ITO WARD-57(3), NEW DELHI

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

ITA 8785/DEL/2019[2014-15]Status: DisposedITAT Delhi23 Feb 2023AY 2014-15

Bench: Shri C.M. Garg & Dr. B.R.R. Kumarassessment Year: 2014-15 Akansha Jain, Vs. Ito, C-2/277, Yamuna Vihar, Ward-57(3), Delhi -110 053. New Delhi. Pan: Akkpj6488R (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Advocate & Shri Shailesh Gupta, Advocate Revenue By : Shri Kanav Bali, Sr. Dr Date Of Hearing : 16.02.2023 Date Of Pronouncement : 23.02.2023 Order Per C.M. Garg: This Appeal Filed By The Assessee Is Directed Against The Order Dated 12.07.2019 Of The Cit(A)-37, New Delhi, Relating To Assessment Year 2014-15. 2. The Grounds Of Appeal Taken By The Assessee Read As Under:- “1. The Ld Cit(A) Has Erred In Confirming The Addition Of Rs.85,00,000/- On Account Of Alleged Deemed Income U/S 69B Of The Income Tax Act, 1961. 2 That The Ld. Ao As Well As Ld Cit(A) Had Made The Addition Without Considering The Submissions As Well As Evidences Furnished By The Appellant. 3 That The Ld. Ao & Ld Cit(A) Has Erred In Law As Well As On Facts In Not Providing The Statement As Well As Cross Examination Of Sh Satvir Singh On Which Ld Ao & Ld Cit(A) Has Relied For Making Addition Of Rs. 85,00,000/- On Account Of Alleged Deemed Income U/S 69B Of The Income Tax Act, 1961. 4 That The Ld. Ao & Ld Cit(A) Has Erred In Law As Well As On Facts In Ignoring The Fact That The Circle Rate Of The Land Is Much Lower Than The Purchase Price Amounting Rs.15,00,000/- & Also Ignored The Fact That The Title Of The Land Is Not Clear. 5 The Addition Of Rs. 85,00,000/- Made By The Ld Ao As Well As Ld Cit(A) Is Erroneous & Arbitrary And, Therefore , The Addition Made Is Liable To Be Deleted. 6 That The Appellant Craves To Add, Amend, Alter, Vary And/Or Withdraw Or Rescind All Or Any Of The Ground Of Appeal On Or Before The Final Hearing.“

For Appellant: Shri Salil Agarwal, Advocate &For Respondent: Shri Kanav Bali, Sr. DR
Section 69B

…gements including the judgement of the Hon’ble Supreme Court in the case of Andaman Timber Industries vs. Commissioner of Central Excise, 62 taxmann.com 3 and the judgement of the Hon’ble jurisdictional High Court of Delhi in the case of CIT vs. Rajesh Kumar, 306 ITR 27 (Del). 4. Replying to the above, the ld. Sr. DR strongly supported the orders of the authorities below and submitted that there were documents in the hands of the AO while making addition u/s 69B of the Act wherein the searched person Shri Satvir Singh admitted before the search team that he had received Rs.85 lakh in cash and Rs.15 lakh through…

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322 ITR 396 (Del) CIT v. Ashwani Gupta (306 ITR 27) — Cited in 88 Judgments | BharatTax