CIT v. Babulal K. Daga

358 ITR 177High Court#24643 most cited
3

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

Sections most often in play

Section 143(3)Section 147Section 148Section 250

Issues it is cited on

unexplained investmentnotice under section 148reassessment proceedingsappeal before the tribunalsection 25section 148opportunity of being heardsection 147section 143section 250section 14section 143(3)

Judgments citing CIT v. Babulal K. Daga

Rajrani Kishanlal Pahwa, Surat vs. ITO, Ward 1(2)(1), Surat

In the result, the appeal of the assessee for AY 2009-10 is partly allowed

ITA 996/SRT/2025[2013-14]Status: HeardITAT Surat22 Jan 2026AY 2013-14

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Suresh K. Kabra, CAFor Respondent: Shri Ajay Uke, Sr DR
Section 143(3)Section 147Section 148Section 250

…eceived, which were not deposited in the regular bank account, were deposited in the said account and there was no source of deposits other than trading activity. Reliance was placed on the decision of the Hon’ble Gujarat High Court in CIT v. Babulal K. Daga, 358 ITR 177 (Guj.), wherein it has been held that where the assessee has no other source of income and the deposits represent business turnover, only the embedded profit can be brought to tax. ITA Nos. 994 to 996/SRT/2025 Rajrani Kishanlal Pahwa Vs. ITO Asst. Year : 2009-10 , 2011-12, 2013-14 - 6– 11. In the present case, the assessee, in response to noti…

Rajrani Kishanlal Pahwa, Surat vs. ITO, Ward 1(2)(1), Surat

In the result, the appeal of the assessee for AY 2009-10 is partly allowed

ITA 995/SRT/2025[2011-12]Status: HeardITAT Surat22 Jan 2026AY 2011-12

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Suresh K. Kabra, CAFor Respondent: Shri Ajay Uke, Sr DR
Section 143(3)Section 147Section 148Section 250

…eceived, which were not deposited in the regular bank account, were deposited in the said account and there was no source of deposits other than trading activity. Reliance was placed on the decision of the Hon’ble Gujarat High Court in CIT v. Babulal K. Daga, 358 ITR 177 (Guj.), wherein it has been held that where the assessee has no other source of income and the deposits represent business turnover, only the embedded profit can be brought to tax. ITA Nos. 994 to 996/SRT/2025 Rajrani Kishanlal Pahwa Vs. ITO Asst. Year : 2009-10 , 2011-12, 2013-14 - 6– 11. In the present case, the assessee, in response to noti…

Rajrani Kishanlal Pahwa, Surat vs. ITO, Ward 1(2)(1), Surat

In the result, the appeal of the assessee for AY 2009-10 is partly allowed

ITA 994/SRT/2025[2009-10]Status: HeardITAT Surat22 Jan 2026AY 2009-10

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Suresh K. Kabra, CAFor Respondent: Shri Ajay Uke, Sr DR
Section 143(3)Section 147Section 148Section 250

…eceived, which were not deposited in the regular bank account, were deposited in the said account and there was no source of deposits other than trading activity. Reliance was placed on the decision of the Hon’ble Gujarat High Court in CIT v. Babulal K. Daga, 358 ITR 177 (Guj.), wherein it has been held that where the assessee has no other source of income and the deposits represent business turnover, only the embedded profit can be brought to tax. ITA Nos. 994 to 996/SRT/2025 Rajrani Kishanlal Pahwa Vs. ITO Asst. Year : 2009-10 , 2011-12, 2013-14 - 6– 11. In the present case, the assessee, in response to noti…

CIT v. Babulal K. Daga (358 ITR 177) — Cited in 3 Judgments | BharatTax