AIR 1977 SC 796 Krishnand v. State of Madhya Pradesh

DCIT, I.T.O. Delhi vs. Rathi Steel and Power Limited, Delhi

In the result the appeal of the Revenue stands dismissed

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraita No.2720/Del/2024, A.Y. 2017-18 Dy. Commissioner Of Vs. Rathi Steel & Power Ltd., Income Tax, Circle-19(1), Chauhan Market, Room No. 221, 2Nd Floor, Madanpur Khadar, C. R. Building, I. P. Estate Near Shopping Complex, New Delhi Sarita Vihar, New Delhi-76 Pan: Aaacr1435K (Appellant) (Respondent) Appellant By Sh. Mayank Patawari, Advocate Respondent By Sh. Ajay Kumar Arora, Sr. Dr Date Of Hearing 13/08/2025 Date Of Pronouncement 10/11/2025 Order Per Avdhesh Kumar Mishra, Am The Appeal Of The Revenue For Assessment Year (‘Ay’) 2017-18 Is Directed Against The Order Dated 27.03.2024 Of The Commissioner Of Income Tax (Appeals)-26, New Delhi [‘Cit(A)’].

…hwari Cotton Mills Ltd. v. CIT [1954] 26 ITR 775 (SC): ……..  Honourable Supreme Court in the cae of Omar Salay Mohamed Sait v. CIT [1959] 37 ITR 151 (SC): ……  Honourable Kerala High Court in the case of CIT vs. K Mahim Udma [2001] 158 CTR (Ker.) 100: [2000] 242 ITR 133 (Ler.): …….. In view of the above judicial pronouncements, it can be said that it is a settled position in law that Income Tax Act does not entitle department to base the assessment on pure guess, without reference to any evidence or material Le. an assessment could not be made only on bare suspicion, since suspicions cannot partake the character…

ACIT, Circle-49(1), New Delhi vs. Pradeep Patil, New Delhi

In the result, the Appeal of the Revenue is dismissed

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwali.T.A. No. 2671/Del/2022 (A.Y 2017-18) Acit Vs Pradeep Patil Circle-49(1) 306, Gold Plaza Building, Room No. 1505, E-2 Block, Gurudwara Road, Dr.Spm Civic Centre, Karol Bagh, New Delhi New Delhi Pan: Baipp4632G

…1 ITA No. 2671/Del/2022 ACIT Vs. Pradeep Patil IN THE INCOME TAX APPELLATE TRIBUNAL DELHI [DELHI BENCH:“B” New Delhi] BEFORE SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER I.T.A. No. 2671/DEL/2022 (A.Y 2017-18) ACIT Vs Pradeep Patil Circle-49(1) 306, Gold Plaza Building, Room No. 1505, E-2 Block, Gurudwara Road, Dr.SPM Civic Centre, Karol Bagh, New Delhi New Delhi PAN: BAIPP4632G Appellant Respondent Assessee by Ms. Rano Jain, Adv. Ms. Mansi Jain, CA and Shri Pranshu Singhal, CA Revenue by Sh. Rajesh Kumar Dhanesta, Sr. DR Date of Hearing 23/07/2025 Date of Pronouncement…

ACIT, New Delhi vs. M/S. Devine Infracon Pvt. Ltd., New Delhi

Bench: M Balaganesh, Accontant Member & Ms Madhumita Royassessment Year: 2010-11 The Assistant Vs. M/S Divine Infracon Commissioner Of Income Private Limited, Plot Tax, Central Circle-09, No. 4, Sector-13, Jhandewalan, New Delhi, Dwarka City Centre, Room No.357, Ara Centre, Dwarka, New Delhi- E-2, Jhandewalan 110075 Extension, New Delhi Pan :Aaccd4476A (Appellant) (Respondent) Assessee By Shri Salil Aggarwal, Sr, Advocate Department By Shri T James Singson, Cit, Dr

…erly instructed as to the relevant law could have found, or the finding was, in other words, perverse and the Court is entitled to interfere. v) AIR 1977 SC 796 Krishnand vs. State of Madhya Pradesh vi) AIR 1974 SC 171 Jayadayal Poddar vs. Mst Bibi Hazra vii) 242 ITR 133 (Ker CIT vs. K. Mahim Udma 5.14 That further, it is submitted that the assessment in the case of M/s Index Securities & Research Pvt. Ltd. and for M/s Vidya Shankar Investments Pvt. Ltd. for the relevant assessment year 2010-11 was also made by the same assessing officer. wherein, no adverse observation has been made with regard to the share cap…

Vijay Aggarwal, Delhi vs. ITO, Ward- 48(5), New Delhi

In the result, all the appeals of different assessees are partly allowed

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahuassessment Year: 2010-11

…151(SC) iii) Dhirajlal Girdharilal v CIT, Bombay 26 ITR 736 (SC) iv) Lal Chand Bhagat Ambica Ram v CIT 37 ITR 288 (SC) v) Krishnand vs. State of Madhya Pradesh AIR 1977 SC 796 vi) Jayadayal Poddar vs. Mst Bibi Hazra AIR 1974 SC 171 vii) CIT vs. K. Mahim Udma 242 ITR 133 (Ker) 39. It is therefore submitted that the addition made by the learned AO and sustainable by the learned CIT (A) in respect of unsecured loan received by the appellant is unsustainable in law.” 5. The ld. DR, on the other hand, relied on the orders of the authorities below and submitted that since on the date of transfer of fund as considera…

Shri Pradeep Singh, New Delhi vs. ACIT, New Delhi

In the result, both the Appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

…rly instructed as to the relevant law could have found, or the finding was, in other words, perverse and the Court is entitled to interfere. v) AIR 1977 SC 796 Krishnand vs. State of Madhya Pradesh vi) AIR 1974 SC 171 Jayadayal Poddar vs. Mst Bibi Hazra vii) 242 ITR 133 (Ker CIT vs. K. Mahim Udma 11. In the instant case it would be seen that the learned A.O. has completely erred in holding that the amount was received by the assessee as loan, despite the fact that necessary evidence to support that the amount was advanced to the assessee by the company in which it was the shareholder was supported by the documen…

Shri Pradeep Singh, New Delhi vs. ACIT, New Delhi

In the result, both the Appeals filed by the Assessee stand allowed

Bench: Shri H.S. Sidhu & Shri O.P. Kant

…rly instructed as to the relevant law could have found, or the finding was, in other words, perverse and the Court is entitled to interfere. v) AIR 1977 SC 796 Krishnand vs. State of Madhya Pradesh vi) AIR 1974 SC 171 Jayadayal Poddar vs. Mst Bibi Hazra vii) 242 ITR 133 (Ker CIT vs. K. Mahim Udma 11. In the instant case it would be seen that the learned A.O. has completely erred in holding that the amount was received by the assessee as loan, despite the fact that necessary evidence to support that the amount was advanced to the assessee by the company in which it was the shareholder was supported by the documen…

M/S. Iveco Spa, New Delhi vs. ADIT, New Delhi

In the result, appeal of the assessee for AY 2007-08 is party allowed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishiiveco Spa, Adit, Copia Corporate Suite, Circle-1(2), Plot No.9, Jasola District Vs. International Taxation, Centre, New Delhi New Delhi Pan:Aabci2759L (Appellant) (Respondent) Iveco Spa, Adit, (Now Fiat Gestione Partecipazioni Circle-1(2), Spa), Vs. International Taxation, 301-304, Plot No.9, Copia Corporate New Delhi Suites, Jasola, Dist Center, New Delhi Pan:Aabci2759L (Appellant) (Respondent)

…alay Mohammad Sait Vs. CIT iii) 26 ITR 736 (SC) Dhirajlal Girdharilal Vs. CIT, Bombay iv) 37 ITR 288 (SC) Lal Chand Bhagat Ambica Ram Vs. CIT v) AIR 1977 SC 796 Krishnand Vs. State of Madhya Pradesh vi) Air 1974 SC 171 Jayadayal Poddar Vs. mst Bibi hazra vii) 242 ITR 133 (ker CIT Vs. K. Mahim Udma Deputy Director of Income Tax Vs. M/s. JC Bamford Excavators 3. Ltd. (ITA No. 540/Del/2011 dated 14.03.2014 Worley Pearson Services Pty Ltd., reported in (2009) 312 ITR 273 4. (AAR) Sumitomo Corporation Vs. DCIT reported in 114 ITD 61 5. Mahavir Singh And Others Vs. Naresh Chandra and another 6. reported in (2001) Air 1…

Iveco Spa, New Delhi vs. ADIT, New Delhi

In the result, appeal of the assessee for AY 2007-08 is party allowed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishiiveco Spa, Adit, Copia Corporate Suite, Circle-1(2), Plot No.9, Jasola District Vs. International Taxation, Centre, New Delhi New Delhi Pan:Aabci2759L (Appellant) (Respondent) Iveco Spa, Adit, (Now Fiat Gestione Partecipazioni Circle-1(2), Spa), Vs. International Taxation, 301-304, Plot No.9, Copia Corporate New Delhi Suites, Jasola, Dist Center, New Delhi Pan:Aabci2759L (Appellant) (Respondent)

…alay Mohammad Sait Vs. CIT iii) 26 ITR 736 (SC) Dhirajlal Girdharilal Vs. CIT, Bombay iv) 37 ITR 288 (SC) Lal Chand Bhagat Ambica Ram Vs. CIT v) AIR 1977 SC 796 Krishnand Vs. State of Madhya Pradesh vi) Air 1974 SC 171 Jayadayal Poddar Vs. mst Bibi hazra vii) 242 ITR 133 (ker CIT Vs. K. Mahim Udma Deputy Director of Income Tax Vs. M/s. JC Bamford Excavators 3. Ltd. (ITA No. 540/Del/2011 dated 14.03.2014 Worley Pearson Services Pty Ltd., reported in (2009) 312 ITR 273 4. (AAR) Sumitomo Corporation Vs. DCIT reported in 114 ITD 61 5. Mahavir Singh And Others Vs. Naresh Chandra and another 6. reported in (2001) Air 1…