Bansal Strips (P) Ltd &Ors. v. ACIT

99 ITD 177Income Tax Appellate Tribunal2006#1806 most cited

What is Bansal Strips (P) Ltd &Ors. v. ACIT authority for?

The burden to establish undisclosed income is on the Assessing Officer, particularly when based on loose or 'dumb' documents found during a search. Additions cannot be made by merely totaling figures without adequate material as to the nature and ownership of transactions.

63

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Bansal Strips v. ACIT · Section 153C · Section 132 · burden of proof · undisclosed income · loose documents · dumb documents · additions from search · seized documents · Assessing Officer's onus · Section 132(4)

Sections most often in play

Section 153CSection 132(4)Section 1961Section 69Section 131Section 132Section 143(3)Section 153A

Issues it is cited on

buyback of sharesarbitrary and capricioussection 132(1)(a)onus of proofsection 269tsection 2(43)section 158bbsection 269ssection 271edumb documentssection 2(31)section 132(4a)

Judgments citing Bansal Strips (P) Ltd &Ors. v. ACIT

ACIT, New Delhi vs. Sh. Sanjay Taneja, New Delhi

The appeal of the AO are allowed with above direction

ITA 6815/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2018AY 2010-11

Bench: Shri Kuldip Singh & Shri Prashant Maharishiacit, Vs. Sanjay Taneja, Central Circle-18, 198/1, Ramesh Market, New Delhi East Of Kailash, New Delhi Pan: Aaept8805A (Appellant) (Respondent)

For Appellant: Shri S.C. Matta, CAFor Respondent: Shri S.S.Rana, CIT DR
Section 132Section 133ASection 14ASection 69A

…1997) 60ITD 560, 564-565 (Ahd) 2. ACIT Vs Shailesh S Shah (1997) 63 ITD 153 (Bombay) ACIT Vs. Sanjay Taneja 3. Malabar Marketing Company Vs ACIT (2004) 91 TTJ 348 (Mumbai) 4. DD Malhan Vs. DCIT (2004) 91 TTJ 947 (Del) 5. Bansal Strips Pvt. Ltd. Vs ACIT (2006) 99 ITD 177 (Del) 6. CIT Vs Girish Chaudhary (2008) 296ITR 619 (Del) Therefore, this document is nothing but a dumb document in the absence of any other material that was brought on record by the Assessing Officer to show that the appellant made investment in the property or extended loans to other or sought loans to buy the property. In such circumstances, t…

Sh. Parvin Juneja, New Delhi vs. DCIT, New Delhi

ITA 3032/DEL/2012[2004-05]Status: DisposedITAT Delhi29 Jul 2016AY 2004-05

Bench: Shri J.S. Reddy & Shri Kuldip Singh

For Appellant: Shri V.K. Aggarwal, ARFor Respondent: Smt. Meenakshi Singh, CIT DR
Section 153ASection 234BSection 69C

…by cheque in question; that opportunity of being heard has not been provided to the assessee during assessment proceedings and relied upon the judgments cited as CIT vs. Vivek Aggarwal 2015- TIOL-459-HC-DEL-IT, Bansal Strips (P) Ltd. & Ors. Vs. ACIT (2006) 99 ITD 177 (Del.), Ashwani Kumar vs. ITO (1992) 42 TTJ (Del) 644 and N.K. Malhan vs. DCIT (2004) 91 TTJ (Del) 938. However, on the other hand, ld. DR relied upon the order passed by AO/ CIT(A). 6. Undisputedly, seized documents pertain to addition of Rs.98,16,450/- qua the AY 2003-04 are available at pages 1 to 4 of the paper book filed by the assessee; th…

Sh. Parvin Juneja, New Delhi vs. DCIT, New Delhi

ITA 3031/DEL/2012[2003-04]Status: DisposedITAT Delhi29 Jul 2016AY 2003-04

Bench: Shri J.S. Reddy & Shri Kuldip Singh

For Appellant: Shri V.K. Aggarwal, ARFor Respondent: Smt. Meenakshi Singh, CIT DR
Section 153ASection 234BSection 69C

…by cheque in question; that opportunity of being heard has not been provided to the assessee during assessment proceedings and relied upon the judgments cited as CIT vs. Vivek Aggarwal 2015- TIOL-459-HC-DEL-IT, Bansal Strips (P) Ltd. & Ors. Vs. ACIT (2006) 99 ITD 177 (Del.), Ashwani Kumar vs. ITO (1992) 42 TTJ (Del) 644 and N.K. Malhan vs. DCIT (2004) 91 TTJ (Del) 938. However, on the other hand, ld. DR relied upon the order passed by AO/ CIT(A). 6. Undisputedly, seized documents pertain to addition of Rs.98,16,450/- qua the AY 2003-04 are available at pages 1 to 4 of the paper book filed by the assessee; th…