ACIT v. Hirapanna Jewellers

128 Taxmann.com 291Income Tax Appellate Tribunal2021#1097 most cited

What is ACIT v. Hirapanna Jewellers authority for?

An abnormal increase in declared cash sales and deposits during demonetization does not warrant an addition under Section 68, as Section 68 applies to unexplained cash credits, not disclosed sales receipts supported by stock and purchases.

101

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2022 to 2026.

Also referred to as

ACIT v. Hirapanna Jewellers · Section 68 · cash sales demonetization · unexplained cash credit · sales receipts · rejection of books of account · stock matching · Section 115BBE · addition under section 68

Also reported as

189 ITD 608

Sections most often in play

Section 68Section 143(3)Section 115BBESection 145(3)Section 69ASection 142(1)Section 143(2)Section 44AB

Issues it is cited on

addition u/s 68addition under section 68section 131(1)rejection of books of accountsection 145(3)section 44abpreponderance of probabilitysection 115bbsection 145section 115bsection 115bbedouble taxation

Judgments citing ACIT v. Hirapanna Jewellers

Income Tax Officer Ward 51(1), Civic Centre vs. Aditi Gems N Jewellery, Karol Bagh Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 3748/DEL/2023[2017-18]Status: DisposedITAT Delhi09 May 2024AY 2017-18

Bench: Shri Shamim Yahya & Shri Sudhir Pareekito, Ward 51 (1), Vs. Aditi Gems N Jewellery, Delhi. 29/3250, Beadonpura, Karol Bagh, Delhi – 110 005. (Pan : Aanfs3291Q) (Appellant) (Respondent) Assessee By : Shri R.S. Singhvi, Ca Shri Satyjeet Goyal, Ca Revenue By : Shri Amit Katoch, Sr. Dr Date Of Hearing : 02.05.2024 Date Of Order : 09.05.2024 Order Per Shamim Yahya: This Appeal By The Revenue Is Directed Against The Order Of The Ld. Cit (Appeals)/National Faceless Appeal Centre (Nfac) Dated 06.11.2023 For The Assessment Year 2017-18. 2. Grounds Of Appeal Taken By The Assessee Read As Under :- “1. Whether On The Facts & Circumstances Of The Case, The Ld. Cit (A) Erred In Deleting The Additions Of Rs.2,74,01,660/- Made By Ao U/S 68 Of The Income Tax Act, 1961. 2. Whether On The Facts & Under The Circumstances Of The Case, The Ld. Cit (A) Is Justified In Holding That The Evidence Collected By The Ao During The Assessment Proceeding Were Merely Conjecture & Surmise

For Appellant: Shri R.S. Singhvi, CAFor Respondent: Shri Amit Katoch, Sr. DR
Section 143(2)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’ : NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI SUDHIR PAREEK, JUDICIAL MEMBER ITO, Ward 51 (1), vs. Aditi Gems N Jewellery, Delhi. 29/3250, Beadonpura, Karol Bagh, Delhi – 110 005. (PAN : AANFS3291Q) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri R.S. Singhvi, CA Shri Satyjeet Goyal, CA REVENUE BY : Shri Amit Katoch, Sr. DR Date of Hearing : 02.05.2024 Date of Order : 09.05.2024 ORDER PER SHAMIM YAHYA, ACCOUNTANT MEMBER : This appeal by the Revenue is directed against the order of the ld. CIT (Appeals)/National Faceless Appeal Centre (NFAC) dated…

ITO Ward-51(5), Delhi vs. Ramesh Chander Rajput, Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 1189/DEL/2022[2017-18]Status: DisposedITAT Delhi03 May 2024AY 2017-18

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

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

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Income Tax Officer Ramesh Chander Rajput Ward-51(5) 3086/36 Delhi Vs. Beadon Pura, Karol Bagh New Delhi-110005 PAN-AAEPR8636B (Appellant) (Respondent) Assessee by Mr. R.S. Ahuja, CA Respondent by Ms. Mayuri, Sr. DR Date of Hearing 23/04/2024 Date of Pronouncement 03/05/2024 ORDER PER S.RIFAUR RAHMAN, AM: This appeal has been filed by the Revenue against the order of Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi…

Rachit Aggarwal (Prop.) Ashok Kumar Gupta & Co., Ludhiana vs. ITO, Ward II(2), Ludhiana

In the result, appeal of the assessee is allowed

ITA 858/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh22 Apr 2024AY 2017-18

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri S.Krishnan, Advocate &For Respondent: Shri Dharam Vir, JCIT, Sr.DR
Section 142(1)Section 144Section 144(1)(b)Section 234BSection 271ASection 68

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 858/CHD/2023 "नधा"रण वष" / Assessment Year : 2017-18 Shri Rachit Aggarwal (Prop.), The ITO, बनाम Ashok Kumar Gupta & Co., Ward II(2), VS Kesar Ganj Mandi,Ludhiana. Ludhiana. "थायी लेखा सं./PAN /TAN No: AKRPA2438B अपीलाथ"/Appellant ""यथ"/Respondent & S.A 2/CHD/2024 in आयकर अपील सं./ ITA No. 858/CHD/2023 "नधा"रण वष" / Assessment Year : 2017-18 Shri Rachit Aggarwal (Prop.), The ITO, बनाम Ashok K…

DCIT Non Corporate Circle-4, Coimbatore vs. Navaratna Maaligai, Coimbatore

In the result, appeal filed by the revenue is dismissed

ITA 801/CHNY/2023[2017-18]Status: DisposedITAT Chennai05 Apr 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपीलसं./Ita No.: 801/Chny/2023 & Co No.: 48/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. Navaratna Maaligai, Income Tax, V. No. 362, Raja Street, Non-Corporate Circle -4, Coimbatore – 641 001. Aayakar Bhavan, [Pan: Aaifn-6257-E] 63, Race Course Road, Coimbatore – 641 018. (अपीलाथ"/Appellant) (Respondent/Cross Objector) : Shri. P. Sajit Kumar, Jcit अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. T. Banusekar, Advocate सुनवाई क" तारीख/Date Of Hearing : 19.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 05.04.2024

For Respondent: Shri. T. Banusekar, Advocate

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक सद"य एवं "ी मंजुनाथा. जी, लेखा सद"य के सम" BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ITA No.: 801/Chny/2023 & CO No.: 48/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Deputy Commissioner of M/s. Navaratna Maaligai, Income Tax, v. No. 362, Raja Street, Non-Corporate Circle -4, Coimbatore – 641 001. Aayakar Bhavan, [PAN: AAIFN-6257-E] 63, Race Course Road, Coimbatore – 641 018. (अपीलाथ"/Appellant) (Respondent/Cross Objecto…

Fashion Zone, Ludhiana vs. JCIT, Ward III(2), Ludhiana

In the result, the appeal of the assessee is allowed

ITA 331/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh20 Mar 2024AY 2017-18

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Sudhir Sehgal, Advocate and Shri Rishabh Marwah, C.AFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 145(3)Section 68

…double addition. Reliance was placed on the following decisions:  Smt. Charu Aggarwal & Others Vs. DCIT reported in 140 Taxmann.com 588 (Chd Trib)  ACIT Vs. Ramlal Jewellers P. Ltd. reported in 154 taxmann.com 584 (Mum Trib)  ACIT Vs. Hirapanna Jewellers 189 ITD 608 (Vishakhapatnam Bench)  ACIT Vs. Himachal Fibres Limited in ITA No. 927/Del/2023 dt. 11/09/2023  DCIT Vs. Bawa Jewellers Pvt. Ltd. in ITA No. 352/Del/021 dt. 09/06/2023  Raj Kumar Vs. ITO in ITA No. 195/Asr/2022 dt. 11/04/2023  Jet Freight Logistics Ltd. Vs. CIT(A) NFAC 146 taxmann.com 349 (Mum Trib)  Pr. CIT Vs. Agson Global P Ltd. 134 taxm…

ITO-23(3)(6), Mumbai vs. Suresh Jugraj Jain, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 273/MUM/2023[2017-18]Status: DisposedITAT Mumbai23 Jan 2024AY 2017-18

Bench: Ms. Kavitha Rajagopal, Jm & Ms. Padmavathy S, Am Ito-23(3)(6) Suresh Jugraj Jain Room No. 608, Earnest House, Ground Floor, Gurukrua Building, Nariman Point, Mumbai-400 021 Vs. 267/269, Mumbadevi Road, Zaveri Bazar, Mumbai- 400002

For Appellant: Shri Amit JhaveriFor Respondent: Dr. Kishor Dhule
Section 143(1)Section 143(2)Section 143(3)Section 250Section 68

…tum of cash sales and subsequent cash deposits in the assessee’s account had an abnormal increase during the demonetization period. The ld. CIT(A) has placed reliance on the decision of the co-ordinate bench in the case of ACIT v. Hirapanna Jewellers [2022] 96 ITR 24 (Vishakha)(Trib.) where it has been held that in order to disbelieve the sale the ld. A.O. should have proved that there was no sufficient stock in possession of the assessee and that the stock register has to be defective and further without any defect in the stock proved in the purchase, sales and stock register, the ld. A.O. cannot disbelieve…

Param Gold, Mumbai vs. The Income Tax Officer Ward 42(1)(4), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2467/MUM/2023[AY 2017-18]Status: DisposedITAT Mumbai16 Jan 2024

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.2467/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Param Gold बिधम/ Ito, Ward-42(1)(4) Shop No.1, Hansa Heritage, Kautilya Bhawan, Bandra Vs. Mathurdas Road, Kandivali Kurla Complex, Bandra (W), Maharashtra-400067. (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaqfp5462K (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Piyush Chhajed Revenue By: Shri H. M. Bhatt (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 08/12/2023 घोषणा की तारीख /Date Of Pronouncement: 16/01/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-51, Mumbai Dated 31.05.2023 For The Assessment Year 2017-18. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Confirming The Addition Of Rs.5,72,90,000/- U/S 68 Of The Income Tax Act, 1961 (Hereinafter “The Act”).

For Appellant: Shri Piyush ChhajedFor Respondent: Shri H. M. Bhatt (Sr. AR)
Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T.A. No.2467/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Param Gold बिधम/ ITO, Ward-42(1)(4) Shop No.1, Hansa Heritage, Kautilya Bhawan, Bandra Vs. Mathurdas Road, Kandivali Kurla Complex, Bandra (W), Maharashtra-400067. (East), Mumbai-400051. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAQFP5462K (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri Piyush Chhajed Revenue by: Shri H. M. Bhatt (Sr. AR) सुनवाई की तारीख / Date of Hearing: 08/12/2023 घोषणा की तारीख /…

Mothers Education Hub, Jaipur vs. ACIT, Circle-1, Jaipur

In the result, appeal of the assessee is allowed for statistical purposes

ITA 618/JPR/2023[2017-18]Status: DisposedITAT Jaipur30 Nov 2023AY 2017-18

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal, CAFor Respondent: Shri A.S. Nehra, Addl.CIT
Section 115BSection 142(1)Section 143(2)Section 250Section 4Section 40A(2)(b)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 618/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2017-18. cuke Mothers Education Hub ACIT Vs. C/o Kalani & Company, Chartered Circle-1, Accountants, 5th Floor, Jaipur. Milestone Building, Gandhinagar Turn, Tonk Road, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AAUFM 7596 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkf…

DCIT, Central Circle-4(3), Mumbai vs. Mangal Royal Jewels Pvt. Ltd., Mumbai

In the result, the appeal filed by the revenue is dismissed and the appeal filed by the asseees is allowed

ITA 3274/MUM/2022[2017-18]Status: DisposedITAT Mumbai29 Nov 2023AY 2017-18

Bench: Shri Br Baskaranshri Pavan Kumar Gadalem/S Mangal Royal Vs. Acit-Cc-1(3), Jewels Pvt Ltd. 29C, Room No.905, 9Thfoor, Shyam Kamal Co- Old Cgo Bldg,Annexe, Operative Housing M.K. Road, Society Ltd, Agarwal Mumbai-400020. Market, M.G. Road, Vile Parle (E), Mumbai-400057. Pan/Gir No. : Aaicm0846R Appellant .. Respondent Dy.Cit-Cc 4(3), Vs. M/S Mangal Royal Central Range-4, Jewels Pvt Ltd. 29C, Room No.1921, Shyam Kamal Co- 19Th Floor, Air India Operative Housing Bldg, Nariman Point, Society Ltd, Agarwal Mumbai-400021. Market, M.G. Road, Vile Parle (E), Mumbai-400057 Pan/Gir No. : Aaicm0846R Appellant .. Respondent Appellant/Respondent Mr.Poojan Mehta.Ar By : Respondent/Appellant By Mr.Prakash Kishinchandani.Dr Date Of Hearing 08.09.2023 Date Of Pronouncement 28.11.2023

Section 131Section 132Section 143(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, ACCOUNTANT MEMBER SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER M/s Mangal Royal Vs. ACIT-CC-1(3), Jewels Pvt Ltd. 29C, Room No.905, 9thFoor, Shyam Kamal Co- Old CGO Bldg,Annexe, operative Housing M.K. Road, Society Ltd, Agarwal Mumbai-400020. market, M.G. Road, Vile Parle (E), Mumbai-400057. PAN/GIR No. : AAICM0846R Appellant .. Respondent Dy.CIT-CC 4(3), Vs. M/s Mangal Royal Central Range-4, Jewels Pvt Ltd. 29C, Room No.1921, Shyam Kamal Co- 19th Floor, Air India operative Housing Bldg, Nariman Point, Society Ltd, Agarwal Mumbai-400021…

Mangal Royal Jewels Pvt. Ltd., Mumbai vs. ACIT, Central Circle-1(3), Mumbai

In the result, the appeal filed by the revenue is dismissed and the appeal filed by the asseees is allowed

ITA 3062/MUM/2022[2017-18]Status: DisposedITAT Mumbai29 Nov 2023AY 2017-18

Bench: Shri Br Baskaranshri Pavan Kumar Gadalem/S Mangal Royal Vs. Acit-Cc-1(3), Jewels Pvt Ltd. 29C, Room No.905, 9Thfoor, Shyam Kamal Co- Old Cgo Bldg,Annexe, Operative Housing M.K. Road, Society Ltd, Agarwal Mumbai-400020. Market, M.G. Road, Vile Parle (E), Mumbai-400057. Pan/Gir No. : Aaicm0846R Appellant .. Respondent Dy.Cit-Cc 4(3), Vs. M/S Mangal Royal Central Range-4, Jewels Pvt Ltd. 29C, Room No.1921, Shyam Kamal Co- 19Th Floor, Air India Operative Housing Bldg, Nariman Point, Society Ltd, Agarwal Mumbai-400021. Market, M.G. Road, Vile Parle (E), Mumbai-400057 Pan/Gir No. : Aaicm0846R Appellant .. Respondent Appellant/Respondent Mr.Poojan Mehta.Ar By : Respondent/Appellant By Mr.Prakash Kishinchandani.Dr Date Of Hearing 08.09.2023 Date Of Pronouncement 28.11.2023

Section 131Section 132Section 143(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, ACCOUNTANT MEMBER SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER M/s Mangal Royal Vs. ACIT-CC-1(3), Jewels Pvt Ltd. 29C, Room No.905, 9thFoor, Shyam Kamal Co- Old CGO Bldg,Annexe, operative Housing M.K. Road, Society Ltd, Agarwal Mumbai-400020. market, M.G. Road, Vile Parle (E), Mumbai-400057. PAN/GIR No. : AAICM0846R Appellant .. Respondent Dy.CIT-CC 4(3), Vs. M/s Mangal Royal Central Range-4, Jewels Pvt Ltd. 29C, Room No.1921, Shyam Kamal Co- 19th Floor, Air India operative Housing Bldg, Nariman Point, Society Ltd, Agarwal Mumbai-400021…

ACIT, CC-14, Delhi vs. Rama Hygienic Products Pvt. Ltd., Bulandshahr

Accordingly the appeal of Revenue is dismissed and of assessee is allowed

ITA 2006/DEL/2021[2017-18]Status: DisposedITAT Delhi27 Sept 2023AY 2017-18

Bench: Sh. M. Balaganesh & Sh.Anubhav Sharma

Section 115BSection 143(3)Section 271ASection 68

…• CIT vs. Vishal Exports Overseas Ltd, ITA No. 2471/2009, dated 03/07/2012(Guj). • Kishore Jeram Bhai Khaniya vs. ITO, ITA No 1220/2011, dated 13.05.2014 (Del) • PCIT vs. Agson Global (P) Ltd., (2022) 441 ITR 550 (Del) • ACIT vs. Hirapanna Jewellers, (2021) 189 ITD 608 (Visakha) 7. Ld. DR however relied the order of Ld. AO to submit that issue was well examined by AO and Ld. CIT(A) has not considered that fact that in order to justify the cash sales other parameters were also tempered with as VAT reports were filed delayed. 8. Now giving thoughtful consideration to the matter on record and the submissions we a…

Rama Hygienic Products Pvt. Ltd., Bulandshahr vs. ACIT, Central Circle- 14, New Delhi

Accordingly the appeal of Revenue is dismissed and of assessee is allowed

ITA 1455/DEL/2021[2017-18]Status: DisposedITAT Delhi27 Sept 2023AY 2017-18

Bench: Sh. M. Balaganesh & Sh.Anubhav Sharma

Section 115BSection 143(3)Section 271ASection 68

…• CIT vs. Vishal Exports Overseas Ltd, ITA No. 2471/2009, dated 03/07/2012(Guj). • Kishore Jeram Bhai Khaniya vs. ITO, ITA No 1220/2011, dated 13.05.2014 (Del) • PCIT vs. Agson Global (P) Ltd., (2022) 441 ITR 550 (Del) • ACIT vs. Hirapanna Jewellers, (2021) 189 ITD 608 (Visakha) 7. Ld. DR however relied the order of Ld. AO to submit that issue was well examined by AO and Ld. CIT(A) has not considered that fact that in order to justify the cash sales other parameters were also tempered with as VAT reports were filed delayed. 8. Now giving thoughtful consideration to the matter on record and the submissions we a…

ACIT, Circle 10(1), New Delhi vs. Himachal Fibres Ltd, Ludhiana

In the result, appeal of the Revenue is dismissed

ITA 927/DEL/2023[2017-18]Status: DisposedITAT Delhi11 Sept 2023AY 2017-18

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Shri Gaurav Jain, Adv. and Ms. Shweta Bansal, CAFor Respondent: Shri Vivek Kumar Upadhyay, Sr. DR
Section 68

…the AY 2017-18. The Ld. CIT(A) has passed a well reasoned order considering all the submissions of the assessee and the averments of the AO. 7.1 We further observed that the Vishakhapatnam Bench of the Tribunal in the case of ACIT vs. Hirapanna Jewellers (189 ITD 608) held as under: - “Purchases, sales and the Stock are interlinked and inseparable. Every purchase increases the stock and every sale decreases the stock. To disbelieve the sales either the assessee should not have the sufficient stocks in their possession or there must be defects in the stock registers/stocks. Once there is no defect in the purc…

Sanjay Sumermal Soni, Thane vs. ITO, Ward-2(2), Thane

In the result appeal of the assessee is partly allowed

ITA 183/MUM/2023[2017-18]Status: DisposedITAT Mumbai28 Aug 2023AY 2017-18

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Income Tax Ward 2(2), Thane, Sanjay Sumermal Soni Room No. 208, 2 Nd Floor, A/201, Salasar Aarti, Qureshi Mansion, Temba Road, Vs. Bhayander West, Gokhale Road, Thane-400101 Naupada-Thane West, Thane 400602 (Appellant) (Respondent) Pan No. Bdeps5367L Assessee By : Shri R.M. Jain, Ar Revenue By : Shri Swapnil Sawant, Dr Date Of Hearing: 01.08.2023 Date Of Pronouncement : 28.08.2023

For Appellant: Shri R.M. Jain, ARFor Respondent: Shri Swapnil Sawant, DR
Section 143Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Income Tax Ward 2(2), Thane, Sanjay Sumermal Soni Room No. 208, 2 nd Floor, A/201, Salasar Aarti, Qureshi Mansion, Temba Road, Vs. Bhayander West, Gokhale Road, Thane-400101 Naupada-Thane West, Thane 400602 (Appellant) (Respondent) PAN No. BDEPS5367L Assessee by : Shri R.M. Jain, AR Revenue by : Shri Swapnil Sawant, DR Date of hearing: 01.08.2023 Date of pronouncement : 28.08.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. This appeal is filed by Mr. Sanjay Sumermal Soni for assessment year 2…

ITO-23(3)(6), Mumbai vs. Swarnsarita Jewellers, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 1420/MUM/2023[2017-18]Status: DisposedITAT Mumbai23 Aug 2023AY 2017-18

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1420/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2017-18) Ito-23(3)(6) बिधम/ Swarnsarita Jewellers Room No. 608, Earnest 1/E, Ruby Chamber, Vs. House, Nariman Point, 40/42, Dhanji Street, Mumbai-400021. Zaveri Bazar, Mumbai- 400003. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Abyfs2206F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Suchek Anchaliya Shri Tushar Nagori Revenue By: Shri Suresh D. Gaikwad (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 13/07/2023 घोषणा की तारीख /Date Of Pronouncement: 23/08/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Mumbai Dated 27.02.2023 For The Assessment Year 2017-18. 2. The Sole Grievance Of The Revenue In This Appeal Is Against The Action Of The Ld. Cit(A) Deleting The Addition Of Rs.98 Lakhs Made By The Assessing Officer (Hereinafter “The Ao”) U/S 68 Of The Income Tax Act, 1961 (Hereinafter “The Act”). 3. Brief Facts As Noted By The Ao Is That The Assessee Is Engaged In The Business Of Trading In Gold & Diamond Jewellery & Precious Stones. For Ay 2017-18 The Assessee Had Filed Its Return Of Income For Ay. 2017-18 Declaring Total Income Of Rs.15,73,840/-. The Ao Observed That, Search Action Was Conducted In The Case Of One, M/S. Raksha Bullion On 13.11.2016, In The Course Of Which Cash Of Rs.2.50

For Appellant: Shri Suchek AnchaliyaFor Respondent: Shri Suresh D. Gaikwad (Sr. AR)
Section 132(4)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T.A. No.1420/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2017-18) ITO-23(3)(6) बिधम/ Swarnsarita Jewellers Room No. 608, Earnest 1/E, Ruby Chamber, Vs. House, Nariman Point, 40/42, Dhanji Street, Mumbai-400021. Zaveri Bazar, Mumbai- 400003. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : ABYFS2206F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri Suchek Anchaliya Shri Tushar Nagori Revenue by: Shri Suresh D. Gaikwad (Sr. AR) सुनवाई की तारीख / Date of Hearing: 13/07/2023…

Amrita Gem Pvt. Ltd., Surat vs. Income Tax Officer, Ward - 1(1)(1), Surat

In the result, ground No. 1& 2 of the appeal are allowed

ITA 181/SRT/2023[2017-18]Status: DisposedITAT Surat21 Aug 2023AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) Amrita Gem Pvt. Ltd., I.T.O. 405, Devratna Apartment, Char Ward-1(1)(1), Vs. Khana Chakla, Rampura Main Road, Surat. Surat-395006 (Gujarat) Pan No. Aahca 8682 J Appellant/ Assessee Respondent/ Revenue

Section 254(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER (Virtual Hearing) Amrita Gem Pvt. Ltd., I.T.O. 405, Devratna Apartment, Char Ward-1(1)(1), Vs. Khana Chakla, Rampura Main Road, Surat. Surat-395006 (Gujarat) PAN No. AAHCA 8682 J Appellant/ assessee Respondent/ revenue Assessee represented by Shri Suchek Anchaliya, CA Department represented by Shri Vinod Kumar, Sr. DR Date of Institution of Appeal 13/03/2023 Date of hearing 25/07/2023 Date of pronouncement 21/08/2023 Order under Section 254(1) of Income Tax Act PER: PAWAN…

DCIT, Central Circle-01, New Delhi vs. Manuvel Malabar Jewellers Pvt. Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 1011/DEL/2022[2017-18]Status: DisposedITAT Delhi18 Aug 2023AY 2017-18

Bench: Shri C.M. Garg & Shri M. Balaganeshassessment Year: 2017-18 Dcit, Vs Manuvel Malabar Jewellers Pvt. Ltd., Central Circle-01, Shop No.29, Ndmc Dlf Mall, New Delhi. Sarojini Nagar, New Delhi – 110 023. Pan: Aaicm0964E

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms Raja Rajeshwari R, Sr. DR
Section 133(6)Section 143(3)Section 40A(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : E : DELHI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2017-18 DCIT, Vs Manuvel Malabar Jewellers Pvt. Ltd., Central Circle-01, Shop No.29, NDMC DLF Mall, New Delhi. Sarojini Nagar, New Delhi – 110 023. PAN: AAICM0964E (Appellant) (Respondent) Assessee by : Shri Gautam Jain, Advocate Revenue by : Ms Raja Rajeshwari R, Sr. DR Date of Hearing : 23.05.2023 Date of Pronouncement : 18.08.2023 ORDER PER M. BALAGANESH, AM: This appeal in ITA No.1011/Del/2022 for AY 2017-18, arises out of the order of the Commission…

The Tiruppur Cooperative Husing Society Ltd., Tiruppur vs. ITO, Ward-1(2), Tiruppur

The appeal stands partly allowed for statistical purposes

ITA 604/CHNY/2022[2017-18]Status: DisposedITAT Chennai01 Aug 2023AY 2017-18

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.604/Chny/2022 (िनधा)रण वष) / Assessment Year: 2017-18) The Tirupur Co-Operative Housing Ito बनाम Society Ltd. Ward-1(2), 138-A, Kumaran Road, Tirupur. / Vs. Tirupur-641 601. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadat-6467-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri S.Sridhar (Advocate)-Ld.Ar " थ"कीओरसे/Respondent By : Shri R.Mohan Reddy (Cit)-Ld.Dr सुनवाईकीतारीख/Date Of Hearing : 01-08-2023 घोषणाकीतारीख /Date Of Pronouncement : 01-08-2023 आदेश / O R D E R

For Appellant: Shri S.Sridhar (Advocate)-Ld.ARFor Respondent: Shri R.Mohan Reddy (CIT)-Ld.DR
Section 142(1)Section 143(1)Section 143(2)Section 144Section 148Section 69ASection 80PSection 80P(2)(d)

…entered in the regularly maintained books of account, that the business results have been accepted and that the books of accounts have not been rejected, more particularly the book was even audited under Tamil Nadu Co-operative Societies Act, 1983 [Relying on 189 ITD 608 (Viz)] 4. The CIT(A) erred in not looking at the law in proper perspective i.e., sec.69A, can be invoked, ONLY when the alleged money was not found recorded in the books of accounts, which is not the case of the appellant. 5. The action of the CIT(A) is erroneous, for he failed to consider the scope and effect of "The Specified Bank Notes (Cessat…

ITO 4(3) (1), Mumbai vs. M/S. Zee Bangles Pvt. Ltd, Mumbai

In the result, the appeal of the revenue stand dismissed

ITA 815/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Jul 2023AY 2017-18

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailincome Tax Officer 4(3)(1) Vs. M/S Zee Bangles Pvt. Ltd. Room No. 648, 6 Th Floor, 124, Mahavir Swami Aayakar Bhavan, M.K. Mandir, Zaveri Bazar, Road, Maharashtra Opp Kharakuwa Zaveri 400 020 Bazar, Mumbai - 400002 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacz6000G Appellant .. Respondent

For Appellant: Anil Kumar DasFor Respondent: Vimal Punamiya
Section 143(2)Section 69Section 69A

…P a g e | 1 Income Tax Officer 4(3)(1) Vs. M/s Zee Bangles Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER & SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Income Tax Officer 4(3)(1) Vs. M/s Zee Bangles Pvt. Ltd. Room No. 648, 6 th Floor, 124, Mahavir Swami Aayakar Bhavan, M.K. Mandir, Zaveri Bazar, Road, Maharashtra Opp Kharakuwa Zaveri 400 020 Bazar, Mumbai - 400002 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACZ6000G Appellant .. Respondent Appellant by : Anil Kumar Das Respondent by : Vimal Punamiya Date of Hearing 12.06.2023 Date of Pronouncement 1…

Mangal Bullion Pvt. Ltd., Mumbai vs. ACIT-CC - 1(3), Mumbai

The appeal of the AO is dismissed and the appeal of the assessee is partly allowed

ITA 331/MUM/2022[2017-18]Status: DisposedITAT Mumbai14 Jul 2023AY 2017-18

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm M/S Mangal Bullion Pvt. Ltd. Dcit, Cc 1(1) 202, 2Nd Floor, Chintamani 903, 9Th Floor, Pratishtha Arcade, Opp. Bombay Bullion Bhavan, Old C.G.O. Bldg, Vs. (Annexe), M.K. Road, Bldg. Dhanji Street, Mumbai-400020 Mumbai-400003 (Appellant) (Respondent) Pan No. Aagcm2672M M/S Mangal Bullion Pvt. Ltd. Acit, Cc 1(3) 202, 2Nd Floor, Chintamani 905, 9Th Floor, Pratishtha Arcade, Opp. Bombay Bullion Bhavan, Old C.G.O. Bldg Vs. (Annexe), M.K. Road, Bldg. Dhanji Street, Mumbai-400020 Mumbai-400003 (Appellant) (Respondent) Pan No. Aagcm2672M

For Appellant: Shri Rajiv Khandelwal, ARFor Respondent: Shri Chetan M Kacha and Shri
Section 143(3)Section 68Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM M/s Mangal Bullion Pvt. Ltd. DCIT, CC 1(1) 202, 2nd Floor, Chintamani 903, 9th Floor, Pratishtha Arcade, Opp. Bombay Bullion Bhavan, Old C.G.O. Bldg, Vs. (Annexe), M.K. Road, Bldg. Dhanji Street, Mumbai-400020 Mumbai-400003 (Appellant) (Respondent) PAN No. AAGCM2672M M/s Mangal Bullion Pvt. Ltd. ACIT, CC 1(3) 202, 2nd Floor, Chintamani 905, 9th Floor, Pratishtha Arcade, Opp. Bombay Bullion Bhavan, Old C.G.O. Bldg Vs. (Annexe), M.K. Road, Bldg. Dhanji Street, Mumbai-400020 Mumbai-400003 (Appellan…