Assam Pesticides and Agro Chemicals v. Commissioner of Income-tax

INCOME TAX OFFICER -32(2) (1) , MUMBAI vs. M/S. KINJAL ENTERPRISES , MUMB

In the result, the appeal of the revenue stand dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhita Nos. 60/Mum/2022 Ita Nos. 2464/Mum/2021 (A.Ys. 2013-14 & 2014-15)

…prove the genuineness of transactions in spite of being provided a reasonable opportunity. Mere payment by account payee cheque is not sufficient proof for claiming any expenditure as held by Assam pesticides and Agro Chemicals Vs Commissioner of Income Tax, 227 ITR 845 & Chemaux Private Ltd Vs Commissioner of Income Tax 109 ITR 134 3. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) erred in deleting the addition of Rs.1,79,78,853/- granting relief without considering the principals laid down in the decisions of Hon'ble Supreme Court in the cases of Sumati Dayal Vs CIT(1995) 8…

ITO 32(2)(1), MUMBAI vs. KINJAL ENTERPRISES , MUMBAI

In the result, the appeal of the revenue stand dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhita Nos. 60/Mum/2022 Ita Nos. 2464/Mum/2021 (A.Ys. 2013-14 & 2014-15)

…prove the genuineness of transactions in spite of being provided a reasonable opportunity. Mere payment by account payee cheque is not sufficient proof for claiming any expenditure as held by Assam pesticides and Agro Chemicals Vs Commissioner of Income Tax, 227 ITR 845 & Chemaux Private Ltd Vs Commissioner of Income Tax 109 ITR 134 3. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) erred in deleting the addition of Rs.1,79,78,853/- granting relief without considering the principals laid down in the decisions of Hon'ble Supreme Court in the cases of Sumati Dayal Vs CIT(1995) 8…

ACIT - 32(1), MUMBAI vs. CHOICE CORPORATION, MUMBAI

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am The Asst. Commissioner Of Choice Corporation Income Tax, 32(1), B-22, Panorama Park O/O Asst. Commissioner Of Shivvallabh Road, Ashok Income Tax 32(1), Pratyaksha Van Dahisar East, Mumbai- Vs. Kar Bhavan, Room No. 209, 400 068 2Nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai-400 051 Appellant .. Respondent Pan No. Aaffc3776Q Revenue By : Pooja Swaroop, Dr Assessee By : None

…f the case, and in law, the Ld. CIT(A) erred in not appreciating the fact that mere payment by account payee cheque is not sufficient proof for claiming any expenditure as held in the case of Assam Pesticides and Agro Chemicals vs. Commissioner of Income Tax, 227 ITR 845..” 3. Briefly stated facts are that the AO during the course of assessment proceedings noticed that the assessee has made payment to the sub-contractor Shri Mahendra Kumar Yadav. The assessee was asked to explained the payment made to sub-contractor and assessee vide letter dated 23-03-2015 stated the following : - “One of our sub-contractor Mr…

ACIT 25(1), MUMBAI vs. BHARAT GAJANI, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

…s and the alleged sale proceeds have been withdrawn and cash remitted to the alleged purchases after deducting a nominal commission. The learned DR relied upon the decision of Assam Pesticides and Mr. Bharat Gajani Agro Chemicals vs Commissioner of Income Tax 227 ITR 845 and held that mere payment by itself would not entitle an assessee for deduction of the said expenditure unless the same are proved to be paid for commercial consideration. The expenditure must be incurred exclusively and wholly for business or profession. Mere payment itself would not entitle the assessee to deduction of expenditure unless the s…

ACIT 25(1), MUMBAI vs. BHARAT GAJANI, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

…s and the alleged sale proceeds have been withdrawn and cash remitted to the alleged purchases after deducting a nominal commission. The learned DR relied upon the decision of Assam Pesticides and Mr. Bharat Gajani Agro Chemicals vs Commissioner of Income Tax 227 ITR 845 and held that mere payment by itself would not entitle an assessee for deduction of the said expenditure unless the same are proved to be paid for commercial consideration. The expenditure must be incurred exclusively and wholly for business or profession. Mere payment itself would not entitle the assessee to deduction of expenditure unless the s…

ACIT 25(1), MUMBAI vs. BHARAT GAJANI, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

…s and the alleged sale proceeds have been withdrawn and cash remitted to the alleged purchases after deducting a nominal commission. The learned DR relied upon the decision of Assam Pesticides and Mr. Bharat Gajani Agro Chemicals vs Commissioner of Income Tax 227 ITR 845 and held that mere payment by itself would not entitle an assessee for deduction of the said expenditure unless the same are proved to be paid for commercial consideration. The expenditure must be incurred exclusively and wholly for business or profession. Mere payment itself would not entitle the assessee to deduction of expenditure unless the s…

ACIT 25(1), MUMBAI vs. BHARAT GAJANI, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

…s and the alleged sale proceeds have been withdrawn and cash remitted to the alleged purchases after deducting a nominal commission. The learned DR relied upon the decision of Assam Pesticides and Mr. Bharat Gajani Agro Chemicals vs Commissioner of Income Tax 227 ITR 845 and held that mere payment by itself would not entitle an assessee for deduction of the said expenditure unless the same are proved to be paid for commercial consideration. The expenditure must be incurred exclusively and wholly for business or profession. Mere payment itself would not entitle the assessee to deduction of expenditure unless the s…

ACIT 25(1), MUMBAI vs. BHARAT GAJANI, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri D.T. Garasia, Jm & Shri Rajesh Kumar, Am

…s and the alleged sale proceeds have been withdrawn and cash remitted to the alleged purchases after deducting a nominal commission. The learned DR relied upon the decision of Assam Pesticides and Mr. Bharat Gajani Agro Chemicals vs Commissioner of Income Tax 227 ITR 845 and held that mere payment by itself would not entitle an assessee for deduction of the said expenditure unless the same are proved to be paid for commercial consideration. The expenditure must be incurred exclusively and wholly for business or profession. Mere payment itself would not entitle the assessee to deduction of expenditure unless the s…