CIT v. Bhaichand H. Gandhi

141 ITR 67High Court1983#370 most cited

What is CIT v. Bhaichand H. Gandhi authority for?

Section 68 of the Income Tax Act cannot be invoked for additions of cash credits found solely in a bank passbook, as a passbook maintained by the bank is not considered a 'book of the assessee' for the purpose of this section, especially when the assessee does not maintain their own books of account.

237

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Bhaichand H. Gandhi · 141 ITR 67 · section 68 · unexplained cash credit · bank passbook · books of account · assessee's books · applicability of Section 68 · no books of account · cash credit in bank account

Also reported as

11 Taxmann 5919 SOT 460

Sections most often in play

Section 68Section 143(3)Section 1961Section 147Section 148Section 250Section 115BBESection 131

Issues it is cited on

section 2(12a)addition under section 68addition u/s 68unexplained cash creditsection 68change of opinionsection 131genuineness of the transactionsection 145limited scrutinyagricultural incomesection 115bb

Judgments citing CIT v. Bhaichand H. Gandhi

Dirisala Bala Murali, Palacole vs. The Income Tax Officer, Ward-1, Palacole

In the result, appeal of the assessee is allowed

ITA 452/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam28 Jul 2020AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.452/Viz/2019 (ननधधारण वर्ा/Assessment Year:2011-12) Dirisala Bala Murali Vs. Income Tax Officer D.No.15-8-12/2 Ward-I Shavukarpet Palakol Palakol, West Godavari Dist. [Pan : Asfpd4074J] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Smt.Suman Malik, Dr सुनवधई की तधरीख / Date Of Hearing : 15.07.2020 घोर्णध की तधरीख/Date Of Pronouncement : 29.07.2020 आदेश /O R D E R Per Shri D.S.Sunder Singh: This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)], Rajamahendravaram In Ita Nos.10090 & 10094/2017-18 Dated 29.03.2019 For The Assessment Year (A.Y.)2011-12. 2

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Smt.Suman Malik, DR
Section 143(1)Section 143(2)Section 148Section 68Section 69

…ks of the assessee' maintained for the previous year, cannot be brought to tax by invoking the provisions of Section 68. That our aforesaid view is fortified by the judgment of the Hon’ble High Court of Bombay in the case of CIT Vs. Bhaichand N. Gandhi (1983) 141 ITR 67 (Bombay) wherein the Hon’ble High Court has held as under: - "As the Tribunal has pointed out, it is fairly well settled that when moneys are deposited in a bank, the relationship that is constituted between the banker and the customer is one of debtor and creditor and not of trustee and beneficiary. Applying this principle, the pass book supplied…

Balwant Singh, Gurgaon vs. ITO, Ward-1(3), Gurgaon

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 1105/DEL/2018[2014-15]Status: DisposedITAT Delhi03 Jul 2020AY 2014-15

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

Section 139Section 139(1)Section 54Section 54F

…not the 'books of the assessee". In this regard assessee placed reliance on various decisions which are as follows: i) K.C.C. Software Ltd. and Ors. vs. DIT and Ors. 298 ITR 1 (SC) ii) CIT vs. Mayawati reported in 338 ITR 563 iii) CIT vs. Bhaichand H. Gandhi 141 ITR 67 (Bom) iv) Shanta Devi vs. CIT 171 ITR 532 (P&H) In view of these submissions, the Ld. AR submitted that the addition made of Rs. 2,49,900/- may be deleted. 6. The Ld. DR submitted that the Assessing Officer and the CIT(A) rightly observed that no evidence with regard to the cash deposits made out of agricultural income of HUF and past savings we…

Shrimati Meera Aggarwal, Jalandhar vs. Assistant Commissioner of Income Tax Central Circle- 2, Jalandhar

ITA 511/ASR/2019[2017-18]Status: DisposedITAT Amritsar30 Jun 2020AY 2017-18

Bench: Shri L. P. Sahu & Shri Ravish Sood

For Appellant: Shri S.K.Gupta (C.A.)For Respondent: Shri M. P. Singh (D.R.)
Section 132Section 143(2)Section 153ASection 292CSection 69B

…maintained for the previous year cannot be brought to tax by invoking the provisions of Section 68. As observed hereinabove, our aforesaid view is fortified by the judgment of the Hon'ble High Court of Bombay in the case of CIT Vs. Bhaichand'N. Gandhi (1983) 141 ITR 67 (Bombay) wherein the Hon'ble High Court has held as under: - "As the Tribunal has pointed out, it is fairly well settled that when moneys are deposited in a bank, the relationship that is constituted between the banker and the customer is one of debtor and creditor and not of trustee and beneficiary. Applying this principle, the pass book supplied…

Sh. Barat Pal Sood, Phagwara vs. The Income Tax Officer, Phagwara

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 11/ASR/2015[2009-2010]Status: DisposedITAT Amritsar03 Feb 2020AY 2009-2010
For Appellant: Shri Sandeep Vijh, CAFor Respondent: Shri Charan Dass, DR
Section 143(3)

…ot question therefore is as to whether the pass book of the assessee can be treated as his book of account. In this connection we would like to draw your attention to the decision of the Bombay High Court in the case of CIT vs. Bhaichand H. Gandhi reported at 141 ITR 67 wherein it was held that the bank pass book was not the book of the assessee. Section 68 only covers within its purview "sum found credited in the book of an assessee". Therefore the addition made in respect of the credits appearing in the bank account which is not a part of the books of accounts was not justified and deserves to be deleted on thi…

Sudhir Jain HUF, New Delhi vs. ITO, Ward- 25(1), New Delhi

In the result, all the 04 appeals of different assesses are dismissed

ITA 1741/DEL/2018[2005-06]Status: DisposedITAT Delhi03 Feb 2020AY 2005-06

Bench: Sh. H.S. Sidhuassessment Year: 2005-06 Smt. Meenu Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) A N D Assessment Year: 2005-06 Smt. Sushma Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aagpj6675A) A N D Assessment Year: 2005-06 Smt. Daya Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Adrpj4409L) A N D Assessment Year: 2005-06 Shri Sudhir Jain (Huf), Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) (Appellants) (Respondents)

Section 143(1)Section 143(2)Section 68

…ited in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Daya Jain, New Delhi vs. ITO, Ward- 25(1), New Delhi

In the result, all the 04 appeals of different assesses are dismissed

ITA 1740/DEL/2018[2005-06]Status: DisposedITAT Delhi03 Feb 2020AY 2005-06

Bench: Sh. H.S. Sidhuassessment Year: 2005-06 Smt. Meenu Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) A N D Assessment Year: 2005-06 Smt. Sushma Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aagpj6675A) A N D Assessment Year: 2005-06 Smt. Daya Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Adrpj4409L) A N D Assessment Year: 2005-06 Shri Sudhir Jain (Huf), Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) (Appellants) (Respondents)

Section 143(1)Section 143(2)Section 68

…ited in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Sushma Jain, New Delhi vs. ITO, Ward- 25(1), New Delhi

In the result, all the 04 appeals of different assesses are dismissed

ITA 1739/DEL/2018[2005-06]Status: DisposedITAT Delhi03 Feb 2020AY 2005-06

Bench: Sh. H.S. Sidhuassessment Year: 2005-06 Smt. Meenu Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) A N D Assessment Year: 2005-06 Smt. Sushma Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aagpj6675A) A N D Assessment Year: 2005-06 Smt. Daya Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Adrpj4409L) A N D Assessment Year: 2005-06 Shri Sudhir Jain (Huf), Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) (Appellants) (Respondents)

Section 143(1)Section 143(2)Section 68

…ited in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Meenu Jain, New Delhi vs. ITO, Ward- 25(1), New Delhi

In the result, all the 04 appeals of different assesses are dismissed

ITA 1738/DEL/2018[2005-06]Status: DisposedITAT Delhi03 Feb 2020AY 2005-06

Bench: Sh. H.S. Sidhuassessment Year: 2005-06 Smt. Meenu Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) A N D Assessment Year: 2005-06 Smt. Sushma Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aagpj6675A) A N D Assessment Year: 2005-06 Smt. Daya Jain, Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Adrpj4409L) A N D Assessment Year: 2005-06 Shri Sudhir Jain (Huf), Ito, 158, Rajdhani Enclave, Vs. Ward : 25 (1), Pitampura, New Delhi – 34 New Delhi (Pan: Aalpj5836E) (Appellants) (Respondents)

Section 143(1)Section 143(2)Section 68

…ited in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Mr.Girish V Yalakkishettar, Dharwad vs. The Income Tax Officer Ward-2(3), Bangalore

In the result, both the appeals filed by the assessee are partly allowed

ITA 355/BANG/2019[2014-15]Status: DisposedITAT Bangalore27 Jan 2020AY 2014-15

Bench: Shri Chandra Poojari

For Appellant: Sri.Balram R.Rao, AdvocateFor Respondent: Sri.Ganesh R.Ghale, Standing Council for DR
Section 143(3)Section 148Section 44ASection 68

…e assessee or under his instructions. As such, addition u/s 68 of the Act of the amount entered only in the bank statements was not justified. My this view is fortified by the judgment of the Hon’ble Bombay High Court in the case of CIT v. Bhaichand H.Gandhi [141 ITR 67 (Bom.)] and also the judgment of the Hon’ble Allahabad High Court in the case of Smt.Sarika Jain v. 11 ITA Nos.354-355/Bang/2019 Shri Girish V.Yalakkishettar. CIT (407 ITR 254). The Hon’ble Allahabad High Court held that the Tribunal is not competent to sustain the addition u/s 69A of the Act after deleting the said addition made by the A.O. and…

Mr. Girish V Yalakkishettar, Dahrwad vs. Income Tax Officer Ward-2(3), Hubli

In the result, both the appeals filed by the assessee are partly allowed

ITA 354/BANG/2019[2013-14]Status: DisposedITAT Bangalore27 Jan 2020AY 2013-14

Bench: Shri Chandra Poojari

For Appellant: Sri.Balram R.Rao, AdvocateFor Respondent: Sri.Ganesh R.Ghale, Standing Council for DR
Section 143(3)Section 148Section 44ASection 68

…e assessee or under his instructions. As such, addition u/s 68 of the Act of the amount entered only in the bank statements was not justified. My this view is fortified by the judgment of the Hon’ble Bombay High Court in the case of CIT v. Bhaichand H.Gandhi [141 ITR 67 (Bom.)] and also the judgment of the Hon’ble Allahabad High Court in the case of Smt.Sarika Jain v. 11 ITA Nos.354-355/Bang/2019 Shri Girish V.Yalakkishettar. CIT (407 ITR 254). The Hon’ble Allahabad High Court held that the Tribunal is not competent to sustain the addition u/s 69A of the Act after deleting the said addition made by the A.O. and…

Madan Pawar, Pune vs. Income Tax Officer

In the result, the appeal of the assessee is partly allowed

ITA 169/PUN/2017[2009-10]Status: DisposedITAT Pune15 Jan 2020AY 2009-10
For Appellant: Shri Kishore PhadkeFor Respondent: Shri S. P. Walimbe
Section 143(3)Section 271(1)(c)Section 68Section 69

…आयकर अपीलीय अिधकरण, पुणे "यायपीठ “एक-सद"य मामला” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE "ी डी. क"णाकरा राव, लेखा सद"य के सम" BEFORE SHRI D. KARUNAKARA RAO, AM आयकर अपील सं. / ITA No.169/PUN/2017 िनधा"रण वष" / Assessment Year : 2009-10 Madan Pawar, Flat No.1, Chintamani Apartments, Ghole Road, Pune-411005. .......अपीलाथ" / Appellant PAN : APNPP9535K बनाम / V/s. ITO, Ward-3(2), ……""यथ" / Respondent Pune. Assessee by : Shri Kishore Phadke Revenue by : Shri S. P. Walimbe सुनवाई क" तारीख / Date of Hearing : 20.12.2019 घोषणा क" तारीख / Date of Pronouncement : 15.01.2020 आदेश / ORDER PER D.…

Sri.Sudheesh Kumar K, Alappuzha vs. The ITO, WD-4, Alappuzha

In the result, appeal of the assessee is allowed

ITA 423/COCH/2019[2013-14]Status: DisposedITAT Cochin14 Jan 2020AY 2013-14

Bench: S/Shri Chandra Poojari, Am & George George K., Jm Assessment Year: 2013-14

Section 68

…by the assessee or under his instructions. As such, addition under s. 68 of the amount entered only in the Bank statements was not justified. This view of ours is fortified by the judgment of the Bombay High Court in the case of CIT vs. Bhaichand H. Gandhi 141 ITR 67 (Mum.). I.T.A. No.423/ Coch/2019 6.1 In view of the above, we are of the opinion that the addition made u/s. 68 of the Act cannot be sustained in this case. Hence, this ground of appeal of the assessee is allowed. 7. In the result, appeal of the assessee is allowed Order pronounced in the open court on 14th January, 2020 sd/- sd/- (GEORGE GE…

Sri Jagdish Prasad Sharma, New Delhi vs. ITO, Ghaziabad

The appeal of the assessee is dismissed

ITA 104/DEL/2015[2009-10]Status: DisposedITAT Delhi13 Jan 2020AY 2009-10

Bench: Shri Prashant Maharishi & Shri K.N.Charysri Jagdish Prasad Sharma, Vs. Ito, C/O. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2Nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi Pan: Azpps2130R (Appellant) (Respondent)

For Appellant: Ms. Timsi Sharma, CAFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)

…ited in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Income Tax Officer 23(1)(5), Mumbai vs. Harjinder Kaur P. Bhasin, Mumbai

Accordingly this appeal by the Revenue stands allowed

ITA 1995/MUM/2018[2014-15]Status: DisposedITAT Mumbai07 Jan 2020AY 2014-15

Bench: Shri Shamim Yahya (Am) & Shri Pawan Singh (Jm)

Section 133(6)Section 143(3)Section 54Section 54FSection 68

…to the builder and hence, the addition made by the AO is hereby deleted.” 8. As regards the addition of Rs. 5,00,000/- as unexplained cash credit learned CIT(A) referred to the decision of Hon'ble Bombay High Court in the case of CIT Vs. Bhaichand H. Gandhi (141 ITR 67) for the proposition that interest in bank statement and pass book cannot qualify that addition u/s. 68 of the Act. Learned CIT(A) also noted that the assessee has filed unsigned confirmation and also no compliance was made regarding notice u/s. 133(6) of the Act thereafter finally learned CIT(A) held that : “The AO in this case has not observed…

Dr. Harprit Singh, Jalandhar vs. Deputy Commissioner of Income Tax, Central Circle-II, Jalandhar

In the result, the appeal of the assessee stands allowed

ITA 195/ASR/2018[2011-12]Status: DisposedITAT Amritsar19 Dec 2019AY 2011-12

Bench: Shri N.K. Choudhry & Shri O.P.Meenaआ.अ.संसंसंसं././././I.T.A No.195/Asr/2018 िनधा"रणवष"/A.Y.:2011-12 िनधा"रणवष" िनधा"रणवष" िनधा"रणवष" Dr. Harprit Singh, C/O M/S. Vs. Deputy Commissioner Of Orthonova Hospital, Near Nari Income-Tax, Niketan, Nakoddar Road, Central Circle –Ii, Jalandhar Jalandhar(Pb) (Pb) Pan: Acmps 7237 F अपीलाथ"Appellant अपीलाथ" ""यथ"/Respondent ""यथ" अपीलाथ" अपीलाथ" ""यथ" ""यथ"

Section 133(6)Section 143Section 147Section 148Section 68Section 69

…f decision of ITAT Amritsar in the case of Sanjeev Kumar v. ITO Ward 6(3) Pathankot [I.T.A.No. 445 to 449/ASR/2015-dated 17.06.2016, copy placed on record. The learned counsel for the assessee further, relied in the case of PCIT V. Bhaichand H Gandhi [1983] 141 ITR 67 (Bombay) in support of contention that no addition under section 68 can be made when no Dr. Harprit Singh v. DCIT-CC-II, Jalandhar/I.T.A. No.195/ASR/2018/A.Y.:11-12 Page 7 of 11 books of accounts are maintained. The learned counsel for the assessee contended that the AO has observed that when the company was having regular current account then w…

Sri.Thomas Eapen, Alappuzha vs. The ITO, WD-5, Alappuzha

In the result, the appeal of the assessee is allowed

ITA 451/COCH/2019[2015-16]Status: DisposedITAT Cochin19 Nov 2019AY 2015-16

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 115BSection 68

…ssee. It was submitted that it is a well settled principle in law that maintenance of books of accounts is a condition precedent to apply Sec 68 of the Act. The Ld. AR relied on the judgment of the Bombay High Court in the case of CIT v Shri Bhaichand Gandhi 141 ITR 67 wherein it was held that a bank passbook cannot be regarded as a book of the assessee for the purpose of the Act. While passing the assessment order, it was submitted that the AO had not taken into consideration of the fact that the assessee was carrying on small business is declaring his income under Sec 44AD and therefore, no necessity to main…

Asha Sanghavi, Rajahmundry vs. Income Tax Officer, Ward-2, Rajahmundry

In the result, appeal of the assessee is allowed

ITA 33/VIZ/2019[2011-12]Status: DisposedITAT Visakhapatnam14 Nov 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.33/Viz/2019 (ननधधारण वर्ा/Assessment Year : 2011-12) Smt.Asha Sanghavi Vs. Income Tax Officer D.No.7-22-12 Ward-2 Nandepu Heights Rajamahendravaram T.Nagar Rajamahendravaram [Pan : Awfps2816R] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri D.Manoj Kumar, Dr सुनवधई की तधरीख / Date Of Hearing : 06.11.2019 घोर्णध की तधरीख/Date Of Pronouncement : 15.11.2019 आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.Manoj Kumar, DR
Section 143(2)Section 68

…68. The assessee relied on the decision of ITAT Mumbai Tribunal , ‘B’ Bench in the case of Mehul V. Vyas Vs. Income Tax Officer, in (2017) 164 TTD 0296 (Mumbai) wherein the Bombay Tribunal placing reliance on the decision of CIT Vs. Bhaichand N.Gandhi (1983) 141 ITR 67 (Bombay) has held that the addition made in respect of bank deposits u/s 68 is unsustainable. 6 I.T.A. No.33/Viz/2019, A.Y.2011-12 Asha Sanghavi, Rajamahendravaram 8.1. The second proposition made by the Ld.AR is that, in the instant case, the assessee had filed confirmation letters before the Ld.CIT(A) from the buyers of the gold with a clear ad…

ITO 1(2), Gwalior vs. Smt Reena Agrawal, Gwalior

In the result, the appeal is allowed for statistical purposes

ITA 161/AGR/2017[2012-13]Status: DisposedITAT Agra18 Jul 2019AY 2012-13

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meenaassessment Year: 2012-13

Section 54Section 54F

…in the books of accounts of the assessee and hence, the addition made u/s 68 of the income tax act stands vitiated and therefore it should be deleted. The first judicial precedent in this controversy is 12 the decision of the honourable Bombay High Court in 141 ITR 67, wherein it has been held that that when monies are deposited in bank account, relationship that is constituted between the bank and the customer is of creditor and not the trustee and beneficiary. Therefore, it is not as if the bank passbook is maintained by the bank as an agent of the customer, nor can it be said that the passbook is maintained…

Bhopsingh Mangalsingh Sebta, Mumbai vs. ITO 14(1)(1), Mumbai

In the result, this appeal of assessee is partly allowed

ITA 7466/MUM/2013[2009-10]Status: DisposedITAT Mumbai09 Jul 2019AY 2009-10

Bench: Shri Mahavir Singh & Shri Rajesh Kumar

For Appellant: Shri Sashi Tulsiyan, ARFor Respondent: Shri Rajat Mittal, DR
Section 44ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA No. A.Y. Appellant Respondent Shri Bhopsingh 7466/Mum/13 2009-10 Mangalsingh Sebta Mahalaxmi Bangles, 25-C, ITO-14(1)(1), 1st Floor, Bihari Bldg, MUMBAI 7467/Mum/13 2010-11 3rd Bhoiwada, MUMBAI [PAN: AAFPS8319F] Appellant by : Shri Sashi Tulsiyan, AR Respondent by : Shri Rajat Mittal, DR Date of Hearing : 15-04-2019 Date of Pronouncement : 09-07-2019 O R D E R PER RAJESH KUMAR, A.M: These two appeals filed by the assessee are directed against the order(s) of…

Sh. Surinder Kumar Sanpal, New Delhi vs. ITO, New Delhi

In the result Ground no 3 of the appeal is partly allowed

ITA 3362/DEL/2014[2007-08]Status: DisposedITAT Delhi15 May 2019AY 2007-08

Bench: Shri Prashant Maharishi & Shri K.N.Charysurinder Kumar Sanpal, Vs. Ito, A-250, New Subzi Mandi, Ward-19(4), Azadpur, New Delhi New Delhi Pan: Abbps5068C (Appellant) (Respondent)

For Appellant: Shri Akash Garg, CAFor Respondent: Shri N. K. Bansal, Sr. DR
Section 143(3)

…se relied up on the decision of Honourable Supreme court in Sudhir Kumar Sharma (HUF) v. CIT [2016] 69 taxmann.com 219/239 Taxman 264 (SC) after referring decision s such as Baladin Ram v. CIT [1969] 71 ITR 427 (SC) (para 7), CIT v. Bhaichand N. Gandhi [1983] 141 ITR 67/[1982] 11 Taxman 59 (Bom.) (para 7), Anand Ram Raitani v. CIT [1997] 223 ITR 544 (Gau.) (para 7), CIT v. Smt. Usha Jain [1990] 182 ITR 487/52 Taxman 12 (Delhi) (para 7), CIT v. Taj Borewells [2007] 291 ITR 232 (Mad.) (para 8), Sudhir Kumar Sharma (HUF) v. CIT [2014] 224 Taxman 178/46 taxmann.com 340 (Punj. & Har.) (para 10) . Therefore we reject t…