CIT v. Associated Transport Pvt. Ltd.

84 Taxmann 146High Court1996#2661 most cited

What is CIT v. Associated Transport Pvt. Ltd. authority for?

An addition under section 68 is not sustainable if the purchase and sale are recorded in the books of account and the profit has been offered to tax.

44

judgments rely on this decision, according to BharatTax’s citation analysis of 366,418 Indian tax judgments — from 2021 to 2026.

Also referred to as

CIT v. Associated Transport Pvt. Ltd. · section 68 · addition under section 68 · books of account · profit offered to tax · cash credits · unexplained money · preponderance of probability

Sections most often in play

Section 68Section 115BBESection 69ASection 143(3)Section 145(3)Section 80PSection 250Section 142(1)

Issues it is cited on

section 285basection 271dasection 285section 2(1)addition u/s 68addition under section 68section 115bbsection 115bdouble taxationpreponderance of probabilitysection 115bbesection 44ab

Judgments citing CIT v. Associated Transport Pvt. Ltd.

Pukhraj, Shivamogga vs. The Assistant Commissioner of Income Tax, Circle-1, Shivamogga

In the result, appeal of the assessee is allowed

ITA 43/BANG/2022[2017-18]Status: DisposedITAT Bangalore19 Jul 2022AY 2017-18

Bench: Shri. George George K & Ms. Padmavathy Sassessment Year : 2017-18 Shri. Pukhraj, Vs. Acit, Prop: Kissan Trading Co., Circle – 1, Bhati Complex, Shivamogga. 1St Cross Garden Area, Shivamogga – 577 202. Pan : Afjpp 7695 A Appellant Respondent Assessee By : Smt. Suman Lunkar, Ca Revenue By : Smt. Priyadarshini Baseganni, Addl. Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 13.07.2022 Date Of Pronouncement : 19.07.2022 O R D E R Per Padmavathy S

For Appellant: Smt. Suman Lunkar, CAFor Respondent: Smt. Priyadarshini Baseganni, Addl. CIT(DR)(ITAT), Bengaluru
Section 143(2)Section 250Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI. GEORGE GEORGE K, JUDICIAL MEMBER AND MS. PADMAVATHY S, ACCOUNTANT MEMBER Assessment Year : 2017-18 Shri. Pukhraj, Vs. ACIT, Prop: Kissan Trading Co., Circle – 1, Bhati Complex, Shivamogga. 1st Cross Garden Area, Shivamogga – 577 202. PAN : AFJPP 7695 A APPELLANT RESPONDENT Assessee by : Smt. Suman Lunkar, CA Revenue by : Smt. Priyadarshini Baseganni, Addl. CIT(DR)(ITAT), Bengaluru. Date of hearing : 13.07.2022 Date of Pronouncement : 19.07.2022 O R D E R Per Padmavathy S, Accountant Member This appeal is against the order of the National Fac…

Sri Ningappa Managuli, Hutti vs. The Income Tax Officer, Ward-2, Raichur

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

ITA 684/BANG/2021[2017-18]Status: DisposedITAT Bangalore07 Jun 2022AY 2017-18

Bench: Shri Chandra Poojariassessment Year: 2017-18

For Appellant: Sri Narendra Sharma, A.RFor Respondent: Sri Ganesh R. Ghale, A.R., Standing counsel for Revenue
Section 115BSection 68Section 69A

…ITA No.684/Bang/2021 Sri Ningappa Managuli, Hutti IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year: 2017-18 Sri Ningappa Managuli D.No.26/12, Jathi Colony Hutti 584 115 ITO Ward-2 Vs. Karnataka Raichur PAN NO : BQAPM1035J APPELLANT RESPONDENT Appellant by : Sri Narendra Sharma, A.R. Respondent by : Sri Ganesh R. Ghale, A.R., Standing counsel for Revenue. Date of Hearing : 07.06.2022 Date of Pronouncement : 07.06.2022 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal by assessee directed against the order of CIT(A…

Anantpur Kalpana, Gangavathi vs. Income Tax Officer, Ward-1, Bangalore

In the result, appeal of the assessee is allowed

ITA 541/BANG/2021[2017-18]Status: DisposedITAT Bangalore13 Dec 2021AY 2017-18

Bench: Shri N.V. Vasudevanassessment Year : 2017-18 Anantpur Kalpana, Vs. Ito, 1/1/1, Mahalaxmi Enterprises, Ward – 1, Hosakeri, Building Bamboo Bazar, Koppal. Gangavathi – 583 227, Karnataka. Pan : Clepk 8005 L Assessee By : Shri. Raghavendra Chakravarthy, Ca Revenue By : Shri. Ganesh R. Ghale, Standing Counsel For The Department Date Of Hearing : 09.12.2021 Date Of Pronouncement : 13.12.2021 O R D E R Er N. V. Vasudevanthis Is An Appeal Filed By The Assessee Against Order Dated 16.08.2021 Of Cit(A) National Faceless Appeal Centre (Nfac), Delhi, Relating To Assessment Year 2017-18. 2. The Assessee Is An Individual. She Is Proprietrix Of A Business In The Name & Style Of Mahalaxmi Enterprises. The Business Consists Of Dealing In Beedi, Tea Powder & Pan Masala. For Assessment Year 2017-18, The Assessee Filed Return Of Income Declaring Total Income Of Rs.4,49,520/-. In The Course Of Assessment Proceedings, The Ao Noticed That There Were Several Cash Deposits In The Two Bank Accounts Of The Assessee. Out Of The Aforesaid Cash Deposits, The Ao Culled Out, The Deposits That Was Made Of Bank Notes That Were Declared As Not Legal Tender Owing To Demonetization Of Currency. The Details Of The Total Cash Deposits Made By The Assessee In Her Bank Account & The Cash Deposits Of Cash/Currency Notes That Were Declared As Not Page 2 Of 8

For Appellant: Shri. Raghavendra Chakravarthy, CAFor Respondent: Shri. Ganesh R. Ghale, Standing Counsel for the Department
Section 115BSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-B” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT Assessment Year : 2017-18 Anantpur Kalpana, Vs. ITO, 1/1/1, Mahalaxmi Enterprises, Ward – 1, Hosakeri, Building Bamboo Bazar, Koppal. Gangavathi – 583 227, Karnataka. PAN : CLEPK 8005 L Assessee by : Shri. Raghavendra Chakravarthy, CA Revenue by : Shri. Ganesh R. Ghale, Standing Counsel for the Department Date of hearing : 09.12.2021 Date of Pronouncement : 13.12.2021 O R D E R er N. V. Vasudevan, Vice President This is an appeal filed by the assessee against order dated 16.08.2021 of CIT(A) National Faceless…

The Assistant Commissioner of Income Tax, Central Circle-1, Visakhapatnam vs. Hirapanna Jewellers, Visakhapatnam

In the result, appeal of the revenue as well as the cross objection of the assessee are dismissed

ITA 253/VIZ/2020[2017-18]Status: DisposedITAT Visakhapatnam12 May 2021AY 2017-18

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.253/Viz/2020 (निर्धारण वर्ा/Assessment Year:2017-18) Asst.Commissioner Of Vs. M/S Hirapanna Jewellers Income Tax, D.No.48-19-5, Opp:Apsrtc Central Circle-1 Commercial Complex, Visakhapatnam Dwaraka Nagar Visakhapatnam [Pan : Aaifh2606M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.02/Viz/2021 (Arising Out Of I.T.A. No.253/Viz/2020) (निर्धारण वर्ा/Assessment Year:2017-18) M/S Hirapanna Jewellers Vs. Asst.Commissioner Of D.No.48-19-5, Opp:Apsrtc Income Tax, Commercial Complex, Dwaraka Nagar Central Circle-1 Visakhapatnam Visakhapatnam [Pan : Aaifh2606M]

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri D.K. Sonowal, CIT DR
Section 133ASection 68

…आयकरअपीलीयअधिकरण, धिशाखापटणमपीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM (through web-based video conferencing platform) श्री एन के चौिरी,न्याधयक सदस्यएिं श्री धड.एस .लेखा सदस्य के समक्ष BEFORE SHRI N.K.CHOUDHRY, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.253/Viz/2020 (निर्धारण वर्ा/Assessment Year:2017-18) Asst.Commissioner of Vs. M/s Hirapanna Jewellers Income Tax, D.No.48-19-5, Opp:APSRTC Central Circle-1 Commercial Complex, Visakhapatnam Dwaraka Nagar Visakhapatnam [PAN : AAIFH2606M] (अपीलार्थी/ Appellant) (प्र…