Aravali Trading Co. v. ITO

8 DTR 199High Court2008#1599 most cited

What is Aravali Trading Co. v. ITO authority for?

An assessee discharges their onus under Section 68 for cash credits by proving the identity of the creditor, the genuineness of the transaction, and the creditor's creditworthiness. The assessee is not required to prove the source of the creditor's funds ('source of source'), unless evidence suggests the money originated from the assessee itself.

71

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2026.

Also referred to as

Aravali Trading Co v ITO · Section 68 · cash credits · unexplained cash credit · assessee's onus · burden of proof · identity of creditor · genuineness of transaction · creditworthiness of creditor · source of source · banking channels

Also reported as

187 Taxmann 33820 Taxmann.com 441

Sections most often in play

Section 68Section 142(1)Section 143(3)Section 250Section 133(6)Section 131Section 143(1)Section 143(2)

Issues it is cited on

source of sourcecreditworthiness of the creditoraddition u/s 68admission of additional evidencegenuineness of the transactionshare application moneysundry creditorsrule 46achange of opinionunexplained cash creditsection 131section 68

Judgments citing Aravali Trading Co. v. ITO

Yash Vikram Developers, Mumbai vs. ACIT Cir- 33(3), Mumbai

In the result, appeal is allowed for statistical purposes

ITA 2673/MUM/2018[2014-15]Status: DisposedITAT Mumbai25 Oct 2019AY 2014-15

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

For Appellant: Shri Ashok L. GosarFor Respondent: Shri Nitin Waghmode
Section 131Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER ITA no.2673/Mum./2018 (Assessment Year : 2014-15) Yash Vikram Developers C-29, Bhanu Park Building Jamnadas Adukiya Road ……………. Appellant Kandivali (W), Mumbai 400 067 PAN – AAAFY8741J v/s Asstt. Commissioner of Income Tax ……………. Respondent Circle–33(3), Mumbai Revenue by : Shri Nitin Waghmode Assessee by : Shri Ashok L. Gosar Date of Hearing – 05.08.2019 Date of Order – 25.10.2019 O R D E R PER SAKTIJIT DEY, J.M. The aforesaid appeal has been filed by the assessee chall…

Shri Giriraj Prasad Agarwal, Jaipur vs. Assistant Commissioner of Income Tax, Circle-5, Jaipur

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

ITA 782/JPR/2018[2014-15]Status: DisposedITAT Jaipur02 Jul 2019AY 2014-15

Bench: The Hearing Of The Matter.

For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri K.C. Meena (Addl. CIT)
Section 131Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ’B’, JAIPUR Jh jes'k lh- 'kekZ] ys[kk lnL; ,oa h Jh fot; iky jkWo] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C. SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 781 & 782/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2011-12 & 14-15. cuke Shri Giriraj Prasad, The Assistant Commissioner of (Prop. Agarwal & Sons) Income tax, Vs. A-5, Raghunath Colony, Circle-5, Galta Gate, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. ABSPA 0549 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shr…

Shri Giriraj Prasad Agarwal, Jaipur vs. Assistant Commissioner of Income Tax, Circle-5, Jaipur

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

ITA 781/JPR/2018[2011-12]Status: DisposedITAT Jaipur02 Jul 2019AY 2011-12

Bench: The Hearing Of The Matter.

For Appellant: Shri Manish Agarwal (CA)For Respondent: Shri K.C. Meena (Addl. CIT)
Section 131Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ’B’, JAIPUR Jh jes'k lh- 'kekZ] ys[kk lnL; ,oa h Jh fot; iky jkWo] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C. SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 781 & 782/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2011-12 & 14-15. cuke Shri Giriraj Prasad, The Assistant Commissioner of (Prop. Agarwal & Sons) Income tax, Vs. A-5, Raghunath Colony, Circle-5, Galta Gate, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. ABSPA 0549 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shr…

M/S Shubham Prime Builders Ppvt. Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

In the result, both the appeals of the assessee are allowed in terms indicated hereinabove

ITA 607/JPR/2018[2010-11]Status: DisposedITAT Jaipur30 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132Section 139Section 139(1)Section 143(1)(a)Section 143(2)Section 143(3)Section 153ASection 153A(1)Section 3Section 40A(3)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 606 & 607/JP/2018 fu/kZkj.k o"kZ@Assessment Years :2010-11 & 2012-13 M/s Shubham Prime Builders cuke D.C.I.T., Vs. Pvt. Ltd., Central Circle, Choudhary Hotel Premises, Kota. Aerodrame Circle, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANCS 3049 M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by: Shri P.C. Parwal (CA) jktLo dh…

M/S Shubham Prime Builders Ppvt. Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

In the result, both the appeals of the assessee are allowed in terms indicated hereinabove

ITA 606/JPR/2018[2010-11]Status: DisposedITAT Jaipur30 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132Section 139Section 139(1)Section 143(1)(a)Section 143(2)Section 143(3)Section 153ASection 153A(1)Section 3Section 40A(3)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 606 & 607/JP/2018 fu/kZkj.k o"kZ@Assessment Years :2010-11 & 2012-13 M/s Shubham Prime Builders cuke D.C.I.T., Vs. Pvt. Ltd., Central Circle, Choudhary Hotel Premises, Kota. Aerodrame Circle, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANCS 3049 M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by: Shri P.C. Parwal (CA) jktLo dh…

Smt. Nilam Jain, Alwar vs. Income Tax Officer, Ward-2-1, Alwar

In the result, we set-aside the matter to the

ITA 903/JPR/2018[2014-15]Status: DisposedITAT Jaipur05 Mar 2019AY 2014-15
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Smt. Anuradha (JCIT)
Section 145(3)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA. No. 903/JP/2018 fu/kZkj.k o"kZ@Assessment Year : 2014-15 cuke Smt. Nilam Jain The ITO, Vs. Prop. M/s Gupta Flour & Oil Industries, Ward-2(1), H-13, New Anaj Mandi, Alwar. Alwar. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AEPPJ 3691 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri P.C. Parwal (C.A.) jktLo dh vksj ls@ Revenue…

Kanagi Siddeshwar Shrishilappa (HUF), Solapur vs. Income-Tax Officer, Ward - 1(2), Saolapur

In the result, the appeal of assessee is dismissed

ITA 382/PUN/2018[2004-05]Status: DisposedITAT Pune22 Feb 2019AY 2004-05

Bench: Shri Anil Chaturvedi, Am

For Appellant: Ms. Riya ShahFor Respondent: Shri M.K. Verma
Section 143(3)

…आयकर अपील"य अ"धकरण] पुणे "यायपीठ “एक सद"य” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI ANIL CHATURVEDI, AM आयकर अपील सं. / ITA No.382/PUN/2018 "नधा"रण वष" / Assessment Year : 2004-05 Shri Kanagi Siddeshwar Shrishilappa (HUF), ………. अपीलाथ" / Venus’ 165/8, Railway Line, Solapur. Appellant PAN No.AAFHK0144N. बनाम v/s The Income Tax Officer, ………. ""यथ" / Ward – 1(2), Solapur. Respondent Assessee by : Ms. Riya Shah. Revenue by : Shri M.K. Verma. सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 29.11.2018 Date of Pronouncement: 25.02.2019 आदेश / ORDER PER ANIL CHATURVEDI, AM…

R.D. Foundation, Ghaziabad vs. ITO (Exemption), Ward, Ghaziabad

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

ITA 7877/DEL/2018[2010-11]Status: DisposedITAT Delhi05 Feb 2019AY 2010-11

Bench: Shri H.S. Sidhu & Shri L.P. Sahuassessment Year: 2010-11

For Appellant: DR. RAKESH GUPTA, ADV. & SHFor Respondent: SH. SUNRENDER PAL, SR. DR
Section 10Section 11Section 11(1)(d)Section 12ASection 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER Assessment Year: 2010-11 R.D. FOUNDATION, VS. ITO, WARD (EXEMPTION) C/O RRA TAXINDIA, GHAZIABAD D-28, SOUTH EXTENSION CGO COMPLEX-I, PART-I, NEW DELHI – 49 HAPUR ROAD, (PAN: AABTR3819D) GHAZIABAD (APPELLANT) (RESPONDENT) Assessee by : DR. RAKESH GUPTA, ADV. & SH. SHUBHAM SOBIT, ADV. Department by : SH. SUNRENDER PAL, SR. DR. ORDER PER H.S. SIDHU, JM This appeal has been filed by the Assessee against the order dated 24.10.2018 of the Ld. CIT(A), Ghaziabad relating…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1230/JPR/2018[2016-17]Status: DisposedITAT Jaipur29 Jan 2019AY 2016-17
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1104/JPR/2018[2015-16]Status: DisposedITAT Jaipur29 Jan 2019AY 2015-16
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1103/JPR/2018[2013-14]Status: DisposedITAT Jaipur29 Jan 2019AY 2013-14
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1102/JPR/2018[2012-13]Status: DisposedITAT Jaipur29 Jan 2019AY 2012-13
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1101/JPR/2018[2011-12]Status: DisposedITAT Jaipur29 Jan 2019AY 2011-12
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S. Multi Metal Private Ltd., Kota

ITA 1100/JPR/2018[2010-11]Status: DisposedITAT Jaipur29 Jan 2019AY 2010-11
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

M/S. Multi Metal Private Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

ITA 1026/JPR/2018[2015-16]Status: DisposedITAT Jaipur29 Jan 2019AY 2015-16
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

M/S. Multi Metal Private Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

ITA 1025/JPR/2018[2013-14]Status: DisposedITAT Jaipur29 Jan 2019AY 2013-14
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

M/S. Multi Metal Private Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

ITA 1024/JPR/2018[2010-11]Status: DisposedITAT Jaipur29 Jan 2019AY 2010-11
Section 132Section 143(3)Section 153ASection 153B(1)(b)

…y the Assessing Officer while the assessment framed U/s 143(3) of the Act in the hand of the loan creditors. In support of his contention, he has relied upon the decision of Hon’ble Jurisdictional High Court in the case of Aravali Trading Co. Vs. ITO (2008) 8 DTR 199 (Raj) and submitted that the Hon'ble High Court has held that once the existence of the creditor is proved and such persons own the credits, the assessee’s onus stands discharged and the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 59 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT assessee is not required to prove the source from which the…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S Baran Roller Flour Mills Pvt. Ltd., Kota

ITA 1207/JPR/2018[2011-12]Status: DisposedITAT Jaipur11 Jan 2019AY 2011-12
For Appellant: Shri Vijay Goyal (CA)For Respondent: Shri Varinder Mehta (CIT) fu/kZkfjrh dh vksj ls@
Section 14ASection 68

…r ITR, Bank statement, Balance Sheets which proved the identity, creditworthiness and genuineness of the transaction. In support of his contention, he has relied upon the judgment of Hon’ble Jurisdictional High Court in case of Aravali Trading Co. vs. ITO, 8 DTR 199 (Raj.) and submitted that the Hon’ble High Court has held that once the existence of share applicants is proved and such person owns the credit, the assessee’s onus stand discharged and the assessee is not required to prove the 9 ITA No. 1206(4)/JP/2018 M/s. Baran Roller Flour Mills Pvt. Ltd., Kota. source from which the share applicants could ha…

Deputy Commissioner of Income Tax, Central Circle, Kota vs. M/S Baran Roller Flour Mills Pvt. Ltd., Kota

ITA 1206/JPR/2018[2010-11]Status: DisposedITAT Jaipur11 Jan 2019AY 2010-11
For Appellant: Shri Vijay Goyal (CA)For Respondent: Shri Varinder Mehta (CIT) fu/kZkfjrh dh vksj ls@
Section 14ASection 68

…r ITR, Bank statement, Balance Sheets which proved the identity, creditworthiness and genuineness of the transaction. In support of his contention, he has relied upon the judgment of Hon’ble Jurisdictional High Court in case of Aravali Trading Co. vs. ITO, 8 DTR 199 (Raj.) and submitted that the Hon’ble High Court has held that once the existence of share applicants is proved and such person owns the credit, the assessee’s onus stand discharged and the assessee is not required to prove the 9 ITA No. 1206(4)/JP/2018 M/s. Baran Roller Flour Mills Pvt. Ltd., Kota. source from which the share applicants could ha…

M/S Kota Dall Mill, Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

ITA 998/JPR/2018[2011-12]Status: DisposedITAT Jaipur31 Dec 2018AY 2011-12
For Appellant: Shri Vijay Goyal & Shri Gulshan Agarwal (CAs)For Respondent: Shri Varinder Mehta (CIT)
Section 132Section 143(3)Section 153ASection 153B(1)(b)Section 68

…ir ITR, Bank statement, Balance Sheets which proved the identity, creditworthiness and genuineness of the transaction. In support of his contention, he has relied upon the judgment of Hon’ble Jurisdictional High Court in case of Aravali Trading Co. vs. ITO, 8 DTR 199 (Raj.) and submitted that the Hon’ble High Court has held that once the existence of creditor is proved and such person owns the credit, the assessee’s onus stand discharged and the assessee is not required to prove the source from which the creditor could have acquired the money deposited with him. Even otherwise, when the loan creditor was sub…