Bhaiyalal Shyam Behari v. CIT

276 ITR 38High Court2005#1792 most cited

What is Bhaiyalal Shyam Behari v. CIT authority for?

The peak credit theory applies only to credits and withdrawals that are held to be non-genuine. If the assessee claims all deposits are genuine, the benefit of the peak credit theory may not be available.

63

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Bhaiyalal Shyam Behari v CIT · 276 ITR 38 · peak credit theory · non-genuine credits · unexplained cash credits · section 68 · section 69 · genuineness of deposits · unexplained withdrawals · Allahabad High Court · application of peak credit · cash credit assessment

Also reported as

202 CTR 515

Sections most often in play

Section 69Section 153ASection 132Section 143(2)Section 68Section 142(1)Section 139(1)Section 69C

Issues it is cited on

peak credit theorysection 256(2)section 106section 256section 113income tax settlement commissionsection 127section 132(4a)loose paperscreditworthiness of the creditorprincipal commissioner of income-taxsection 132(1)

Judgments citing Bhaiyalal Shyam Behari v. CIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3, COIMBATORE, COIMBATORE vs. AUATHAN RAMESH KUMAR, COIMBATORE

In the result, both the appeals filed by the Revenue are dismissed

ITA 2399/CHNY/2025[2016-17]Status: DisposedITAT Chennai28 Nov 2025AY 2016-17

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. T. Mythili, JCITFor Respondent: Shri N. Arjun Raj, Advocate
Section 143(2)Section 250Section 69A

…4. The Ld. CIT(A) erred in directing the AO to verify the deposits and work out the peak credit in the present case where the assessee claims that all the deposits are genuine, the benefit of peak will not be available. - Bhaiyalal Shyam Behari v. CIT [ 2005] 276 ITR 38 (AlL)] 5. For these grounds and any other ground including amendment of grounds that may be raised during the course of appeal proceedings, the Order of the Ld CIT(Appeals) may be set aside and that of the Assessing 0fficer may be restored. DCIT, Central Circle 3, Coimbatore. 3. Brief facts of the case are as follows:- The assessee an individual…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3, COIMBATORE, COIMBATORE vs. AUATHAN RAMESH KUMAR, COIMBATORE

In the result, both the appeals filed by the Revenue are dismissed

ITA 2397/CHNY/2025[2015-16]Status: DisposedITAT Chennai28 Nov 2025AY 2015-16

Bench: Shri George George K & Shri Jagadish

For Appellant: Ms. T. Mythili, JCITFor Respondent: Shri N. Arjun Raj, Advocate
Section 143(2)Section 250Section 69A

…4. The Ld. CIT(A) erred in directing the AO to verify the deposits and work out the peak credit in the present case where the assessee claims that all the deposits are genuine, the benefit of peak will not be available. - Bhaiyalal Shyam Behari v. CIT [ 2005] 276 ITR 38 (AlL)] 5. For these grounds and any other ground including amendment of grounds that may be raised during the course of appeal proceedings, the Order of the Ld CIT(Appeals) may be set aside and that of the Assessing 0fficer may be restored. DCIT, Central Circle 3, Coimbatore. 3. Brief facts of the case are as follows:- The assessee an individual…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 641/JPR/2025[2018-19]Status: DisposedITAT Jaipur17 Jul 2025AY 2018-19

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 640/JPR/2025[2017-18]Status: DisposedITAT Jaipur17 Jul 2025AY 2017-18

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 639/JPR/2025[2016-17]Status: DisposedITAT Jaipur17 Jul 2025AY 2016-17

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 638/JPR/2025[2015-16]Status: DisposedITAT Jaipur17 Jul 2025AY 2015-16

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 637/JPR/2025[2014-15]Status: DisposedITAT Jaipur17 Jul 2025AY 2014-15

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 636/JPR/2025[2013-14]Status: DisposedITAT Jaipur17 Jul 2025AY 2013-14

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 635/JPR/2025[2012-13]Status: DisposedITAT Jaipur17 Jul 2025AY 2012-13

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 634/JPR/2025[2011-12]Status: DisposedITAT Jaipur17 Jul 2025AY 2011-12

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SH. RAJESH KUMAR JAIN,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result the appeal of the assessee in ITA nos

ITA 633/JPR/2025[2010-11]Status: DisposedITAT Jaipur17 Jul 2025AY 2010-11

Bench: Dr. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 132(1)Section 153ASection 69

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ehBk yky ehuk] ys[kk lnL; ,oa Mk0 ,l- lhrky{eh]U;kf;d lnL; ds le{k BEFORE: Dr. MITHA LAL MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA Nos.632 to 641/JP/2025 fu/kZkj.k o"kZ@Assessment Years : 2009-10 to 2018-19 cuke Rajesh Kumar Jain ACIT, Vs. Kothi Manak Bhawan, Central Circle, Subji Mandi, Kota Kota LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:ABHPJ3266F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. P. C. Parwal, CA jktLo dh vksj ls@Revenue by: Sh. Rajesh Ojha, C…

SHRI BHARATKUMAR IASHWARBHAI BHATIYA,RAJKOT vs. THE ACIT, CENTRAL CIRL-1,, RAJKOT

In the result, appeals filed by the Revenue, in ITA No

ITA 44/RJT/2023[2006-07]Status: DisposedITAT Rajkot19 Jun 2025AY 2006-07

Bench: Dr. Arjun Lal Saini & Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 134 & 135/Rjt/2023 (िनधा"रणवष" / Assessment Years: (2007-08 & 2008-09) Income Tax Officer, Ward- Shri Kherajmal Lekhrajbjai 5Th 1(2)(1), Aaykar Bhavan, Thavrani, 4- Parsana Nagar, Shri Vs. Floor, Room No. 517, Race Vaheguru Grupa, Near Refugee Course Ring Road, Rajkot-360 Colony, Rajkot-360 001 001 "थायी लेखा सं./जी आइ आर सं./Pan/Gir No.: Adrpt 5807 E (Appellant) (Respondent)

…. This is not the case here. The assessee has been categorical in accepting that the third parties have been depositing cash in his bank account. Reliance in this regard is placed on the decision in Bhaiyalal Shyam Behari V/s Commissioner of Income Tax [2005] 276 ITR 38 (Allahbad)/[2006] 202 CTR 515 (Allahabad) wherein it has been held that for adjudicating upon plea of peak credit factual foundation has to be laid by assessee, who has to own all cash credit entries in books of accounts and only thereafter question of peak credit can be raised. Where amount of cash credits was standing in names of different perso…

DCIT(CC)-2(4), MUMBAI vs. AVEO PHARMACEUTICALS PRIVATE LIMITED, MUMBAI

ITA 3009/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: None
Section 68Section 69C

…Sharraf Trading Co. [2016] 67 taxmann.com 176 (Allahabad). 67 taxmann.com 176 (Allahabad). 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT (2005) 276 ITR 38 (AIl.), the Hon'ble High Court (2005) 276 ITR 38 (AIl.), the Hon'ble High Court has upheld has upheld the view of the tribunal that working of the peak should be the view of the tribunal that working of the peak should be the view of the tribunal that working of the peak should be confined to the credits and withdrawals which are held to confined…

DCIT(CC)-2(4), MUMBAI., MUMBAI vs. AVEO PHARMACEUTICALS PRIVATE LIMITED, MUMBAI

ITA 3008/MUM/2024[2021-22]Status: DisposedITAT Mumbai26 Mar 2025AY 2021-22

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: None
Section 68Section 69C

…Sharraf Trading Co. [2016] 67 taxmann.com 176 (Allahabad). 67 taxmann.com 176 (Allahabad). 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT 6.16 Further, in case of Bhaiyalal Shyam Behari v CIT (2005) 276 ITR 38 (AIl.), the Hon'ble High Court (2005) 276 ITR 38 (AIl.), the Hon'ble High Court has upheld has upheld the view of the tribunal that working of the peak should be the view of the tribunal that working of the peak should be the view of the tribunal that working of the peak should be confined to the credits and withdrawals which are held to confined…

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE -2, SURAT vs. SHAH MAGANLAL GULABCHAND CHOKSI, SURAT

In the result, appeals of assessee are allowed for statistical purpose

ITA 224/SRT/2022[2017-18]Status: DisposedITAT Surat16 Jan 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

Section 115BSection 131Section 250Section 271ASection 69

…all along the assessee had been claiming as genuine deposit, withdrawal / payment of amount to different set of persons would not at all entitle the applicant to claim benefit of peak credits. It has been so held in the case of Bhaiyalal Shyam Behari vs. CIT, 276 ITR 38 (All.). 15.2 While determining the peak credit, the withdrawal of cash, if not utilized elsewhere, is considered as available for making deposits. The highest unexplained cash deposit is considered as the peak credit. The determination of the peak credit reduces the taxable income. However, where withdrawal are through cheques, the benefits of tho…

SHAH MAGANLAL GULABCHAND CHOKSI,SURAT vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, SURAT

In the result, appeals of assessee are allowed for statistical purpose

ITA 197/SRT/2022[2017-18]Status: DisposedITAT Surat16 Jan 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

Section 115BSection 131Section 250Section 271ASection 69

…all along the assessee had been claiming as genuine deposit, withdrawal / payment of amount to different set of persons would not at all entitle the applicant to claim benefit of peak credits. It has been so held in the case of Bhaiyalal Shyam Behari vs. CIT, 276 ITR 38 (All.). 15.2 While determining the peak credit, the withdrawal of cash, if not utilized elsewhere, is considered as available for making deposits. The highest unexplained cash deposit is considered as the peak credit. The determination of the peak credit reduces the taxable income. However, where withdrawal are through cheques, the benefits of tho…

SHRI VISHAL MEHTA ,RAJKOT vs. THE ITO WARD-2 (1) (2), RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

ITA 77/RJT/2024[2015-16]Status: DisposedITAT Rajkot07 Jan 2025AY 2015-16

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

For Appellant: Shri Chetan Agarwal, AR &For Respondent: Shri Sanjay Punglia, CIT-DR &
Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 271BSection 69A

…. This is not the case here. The assessee has been categorical in accepting that the third parties have been depositing cash in his bank account. Reliance in this regard is placed on the decision in Bhaiyalal Shyam Behari V/s Commissioner of Income Tax [2005] 276 ITR 38 (Allahbad)/[2006] 202 CTR 515 (Allahabad) wherein it has been held that for adjudicating upon plea of peak credit factual foundation has to be laid by assessee, who has to own all cash credit entries in books of accounts and only thereafter question of peak credit can be raised. Where amount of cash credits was standing in names of different perso…

SHRI VISHAL MEHTA ,RAJKOT vs. THE ITO WARD-2(1) (2) RAJKOT, RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

ITA 76/RJT/2024[2014-15]Status: DisposedITAT Rajkot07 Jan 2025AY 2014-15

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

For Appellant: Shri Chetan Agarwal, AR &For Respondent: Shri Sanjay Punglia, CIT-DR &
Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 271BSection 69A

…. This is not the case here. The assessee has been categorical in accepting that the third parties have been depositing cash in his bank account. Reliance in this regard is placed on the decision in Bhaiyalal Shyam Behari V/s Commissioner of Income Tax [2005] 276 ITR 38 (Allahbad)/[2006] 202 CTR 515 (Allahabad) wherein it has been held that for adjudicating upon plea of peak credit factual foundation has to be laid by assessee, who has to own all cash credit entries in books of accounts and only thereafter question of peak credit can be raised. Where amount of cash credits was standing in names of different perso…

SHRI VISHAL MEHTA,RAJKOT vs. THE ITO WARD-2(1) (2) , RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

ITA 75/RJT/2024[2013-14]Status: DisposedITAT Rajkot07 Jan 2025AY 2013-14

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

For Appellant: Shri Chetan Agarwal, AR &For Respondent: Shri Sanjay Punglia, CIT-DR &
Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 271BSection 69A

…. This is not the case here. The assessee has been categorical in accepting that the third parties have been depositing cash in his bank account. Reliance in this regard is placed on the decision in Bhaiyalal Shyam Behari V/s Commissioner of Income Tax [2005] 276 ITR 38 (Allahbad)/[2006] 202 CTR 515 (Allahabad) wherein it has been held that for adjudicating upon plea of peak credit factual foundation has to be laid by assessee, who has to own all cash credit entries in books of accounts and only thereafter question of peak credit can be raised. Where amount of cash credits was standing in names of different perso…

SHRI VISHAL MEHTA,RAJKOT vs. THE ITO WARD-2 (1) (2), RAJKOT, RAJKOT

Appeals of the assessee are allowed for statistical purposes, in above terms

ITA 74/RJT/2024[2012-13]Status: DisposedITAT Rajkot07 Jan 2025AY 2012-13

Bench: Dr. Arjun Lal Sainiand Shri Dinesh Mohan Sinhaआयकर अपीलसं/.Ita No.74 To 77/Rjt/2024 "नधा"रण वष"/ Assessment Years: (2012-13 To 2015-2016) Vishal Mehta Income Tax Officer, बनाम Pravin Chamber, 1St Floor, Ward-2(1)(2), Rajkot Kothariya Naka Soni Bazar, Vs. Rajkot-360 001 Pan/Gir No.Ahtpm 7247 B "थायीलेखासं /. जीआइआरसं /. (अपीलाथ"/Appellant) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Chetan Agarwal, Ar & Shri Brijesh Parekh, Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Cit-Dr & Shri Abhimanyhu Singh, Sr-Dr

For Appellant: Shri Chetan Agarwal, AR &For Respondent: Shri Sanjay Punglia, CIT-DR &
Section 133(6)Section 142(1)Section 143(3)Section 147Section 148Section 271BSection 69A

…. This is not the case here. The assessee has been categorical in accepting that the third parties have been depositing cash in his bank account. Reliance in this regard is placed on the decision in Bhaiyalal Shyam Behari V/s Commissioner of Income Tax [2005] 276 ITR 38 (Allahbad)/[2006] 202 CTR 515 (Allahabad) wherein it has been held that for adjudicating upon plea of peak credit factual foundation has to be laid by assessee, who has to own all cash credit entries in books of accounts and only thereafter question of peak credit can be raised. Where amount of cash credits was standing in names of different perso…

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Bhaiyalal Shyam Behari v. CIT (276 ITR 38) — Cited in 63 Judgments | BharatTax