CIT v. Bajargan Traders

86 Taxmann.com 295High Court2017#2582 most cited

What is CIT v. Bajargan Traders authority for?

Excess stock of regularly traded items or excess cash, when found during a survey and properly explained as arising from business, constitutes business income, thereby avoiding assessment under sections 69, 69A, 69B and the higher tax rate prescribed by section 115BBE.

45

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2025.

Also referred to as

CIT v. Bajargan Traders · 86 Taxmann.com 295 · section 115BBE · section 69 · section 69A · section 69B · excess stock as business income · excess cash as business income · unexplained money · unexplained investment · survey findings · set off of losses

Issues it is cited on

Judgments citing CIT v. Bajargan Traders

Nitin Suwalal Shingavi, Ahmednagar vs. DCIT, Central Circle-1(2), Pune

In the result, appeal of the assessee is allowed

ITA 880/PUN/2024[2018-19]Status: DisposedITAT Pune29 Jul 2024AY 2018-19

Bench: Dr. Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.880/Pun/2024 िनधा"रण वष" / Assessment Year : 2018-19 Nitin Suwalal Shingavi, V The Dcit, 2830, Nandanvan, Gujrathi S Central Circle-1(2), Pune. Lane, Ahmednagar, Maharashtra – 414001. Pan: Aeyps6054A Appellant/ Assessee Respondent / Revenue Assessee By Shri Suhas P. Bora – Ar Revenue By Shri Rajesh Gawali – Addl.Cit(Dr) Date Of Hearing 20/06/2024 Date Of Pronouncement 29/07/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By Assessee Nitin Suwalal Shingavi Against The Order Of Commissioner Of Income Tax (Appeal) Pune Dated 10/04/2024 Passed Under Section 250 Of The Income Tax Act, Emanating From The Assessment Order Dated 21/04/2021 For A.Y.2018-19. The Assessee Has Raised The Following Grounds Of Appeal : “1. The Learned Cit(A)-11, Pune Has Erred In Law & On Facts In Confirming The Action Of The Ao Of Taxing The Amount Of Excess Stock Of Rs.25,10,000/- Declared In The Survey U/Sec 133 A Of The Act As Deemed Nitin Suwalal Shingavi [A]

Section 115BSection 133ASection 250Section 69B

…।आयकर अपीलीय अिधकरण ”एस एम सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “SMC” :: PUNE BEFORE DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.880/PUN/2024 िनधा"रण वष" / Assessment Year : 2018-19 Nitin Suwalal Shingavi, V The DCIT, 2830, Nandanvan, Gujrathi s Central Circle-1(2), Pune. Lane, Ahmednagar, Maharashtra – 414001. PAN: AEYPS6054A Appellant/ Assessee Respondent / Revenue Assessee by Shri Suhas P. Bora – AR Revenue by Shri Rajesh Gawali – Addl.CIT(DR) Date of hearing 20/06/2024 Date of pronouncement 29/07/2024 आदेश/ ORDER PER DR.…

Ashokkumar Kesherchand Pande, Aurangabad vs. The Assistant Commissioner of Income Tax, Central Circle-1, Aurangabad

In the result, the appeal filed by the assessee stands allowed

ITA 389/PUN/2023[2019-20]Status: DisposedITAT Pune31 Jul 2023AY 2019-20

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.389/Pun/2023 िनधा"रण वष" / Assessment Year : 2019-20 Ashokkumar Kesherchand Vs. Acit, Central Circle-1, Pande, Aurangabad. Chetan Sheti Sahitya, Bus Stand Road, Kannad, Dist. Chh. Sambhajinagar, Aurangabad- 431103. Pan : Acgpp3668K Appellant Respondent Assessee By : Shri Kishor B. Phadke Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 19.07.2023 Date Of Pronouncement : 31.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-12, Pune [‘The Cit(A)’] Dated 03.02.2023 For The Assessment Year 2019-20. 2. Briefly, The Facts Of The Case Are That The Appellant Is An Individual Deriving Income Under The Head “Business”. It Is Engaged

For Appellant: Shri Kishor B. PhadkeFor Respondent: Shri Ramnath P. Murkunde
Section 115BSection 133A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.389/PUN/2023 िनधा"रण वष" / Assessment Year : 2019-20 Ashokkumar Kesherchand Vs. ACIT, Central Circle-1, Pande, Aurangabad. Chetan Sheti Sahitya, Bus Stand Road, Kannad, Dist. Chh. Sambhajinagar, Aurangabad- 431103. PAN : ACGPP3668K Appellant Respondent Assessee by : Shri Kishor B. Phadke Revenue by : Shri Ramnath P. Murkunde Date of hearing : 19.07.2023 Date of pronouncement : 31.07.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an ap…