CIT v. CPL Tannery

318 ITR 179High Court2009#1762 most cited

What is CIT v. CPL Tannery authority for?

Disallowance under Section 40A(3) of the Income-tax Act, 1961, is not justified for cash payments if they are genuine, made out of business expediency, and the assessee's bona fides are not disputed, even after the 2009 amendments to the section.

64

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT v. CPL Tannery · Section 40A(3) · cash payment disallowance · business expediency · genuine transactions · bona fide payments · 318 ITR 179 · Calcutta High Court · amended provisions · exigency of business

Judgments citing CIT v. CPL Tannery

M/S Super Enterprise, Burdwan vs. ITO, WD-2(3), Durgapur

In the result the addition as confirmed by the Id

ITA 1495/KOL/2012[2009-10]Status: DisposedITAT Kolkata31 Mar 2016AY 2009-10

Bench: : Shri M. Balaganesh & Shri S.S.Viswanethra Ravi

For Appellant: Shri Subho Chakraborty, Advocate, ld.ARFor Respondent: Shri Rajat Kr. Kureel, JCIT, ld.Sr.DR
Section 143(3)Section 40A(3)

…rom the provisions of section 40A(3) and rule 6DD that they are intended to regulate business transactions and to prevent the use of unaccounted money or reduce the chances to use black money for business transactions." • CIT vs CPL Tannery reported in (2009) 318 ITR 179 (Cal) The contention of the assessee that he purchased goods from suppliers who are producers of hides and skins, has not been refuted either by the AO or by the CITA. The second contention of the assessee that owing to business expediency, obligation and exigency, the assessee had to make cash payment for purchase of goods so essential for carry…

Mr. Nirmal Kumar Das, Midnapore vs. ACIT, Cir-Haldia, Midnapore

In the result, assessee’s appeal is allowed

ITA 391/KOL/2014[2010-2011]Status: DisposedITAT Kolkata11 Dec 2015AY 2010-2011

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2010-11 Mr. Nirmal Kumar Das V/S. Acit, Circle-Haldia, W/H/A17, Durgachak Basudevpur, P.O. Housing Estate, P.O. Khanjan Chak, Haldia, Durgachak, Hldia, Purba Purba Medinipur, Pin – Medinipur, Pin. 721602 721602 [Pan No.Acupd 7343 M] .. अपीलाथ" /Appellant ""यथ"/Respondent

Section 143(3)Section 40(3)Section 40A(3)

…from the provisions of section 40A(3) and rule 6DD that they are intended to regulate business transactions and to prevent the use of unaccounted money or reduce the chances to use black money for business transactions.” CIT vs CPL Tannery reported in (2009) 318 ITR 179 (Cal) “The second contention of the assessee that owing to business expediency, obligation and exigency, the assessee had to make cash payment for purchase of goods so essential for carrying on of his business, was also not disputed by the AO. The genuinity of transactions, rate of gross profit or the fact that the bonafide of the assessee that p…

Sri Rampada Panda., Purba Medinipur vs. I.T.O WD - 2, Haldia., Purba Medinipur

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

ITA 67/KOL/2013[2008-2009]Status: DisposedITAT Kolkata07 Oct 2015AY 2008-2009

Bench: Hon’Ble Shri M.Balaganesh, Am & Shri S.S.Vishwanetra Ravi, Jm] Assessment Year : 2008-09 (Appellant ) (Respondent) Sri Rampada Panda -Versus- I.T.O., Ward-2, Purba Medinipur Haldia. (Pan : Ahnpp 8129 P) For The Appellant : Shri Manish Tiwari, Fca For The Respondent : Shri Pinaki Mukherjee, Jcit Date Of Hearing : 01.10.2015. Date Of Pronouncement : 7.10.2015. Order

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Pinaki Mukherjee, JCIT
Section 133(6)Section 143(3)Section 40A(3)

…A(3) and rule 6DD that they are intended to regulate business transactions and to prevent the use of unaccounted money or reduce the chances to use black money for business transactions.” 6 Sri Rampada Panda A.Y.2008-09 CIT vs CPL Tannery reported in (2009) 318 ITR 179 (Cal) “The second contention of the assessee that owing to business expediency, obligation and exigency, the assessee had to make cash payment for purchase of goods so essential for carrying on of his business, was also not disputed by the AO. The genuinity of transactions, rate of gross profit or the fact that the bonafide of the assessee that p…

Aloke Kumar Sarkar, Hooghly vs. ITO, Ward - 2(3), Hooghly

In the result, the appeal of the assessee is allowed

ITA 726/KOL/2011[2005-06]Status: DisposedITAT Kolkata18 Sept 2015AY 2005-06

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2005-06 (Appellant ) (Respondent) Aloke Kumar Sarkar -Versus- I.T.O., Ward-2(3) Hooghly Hooghly (Pan:Akkps 9552 R) For The Appellant : Shri Somnath Ghosh, Advocate For The Respondent : Shri P.K.Chakraborty,Addl.Cit Date Of Hearing : 15.09.2015. Date Of Pronouncement : 18.09.2015. Order Per Shri M.Balaganesh, Am 1. This Appeal Of The Assessee Arises Out Of The Order Of The Learned Cita In Appeal No.177/Cit(A)-Xxxvi/Kol/Wd-2(3),Hooghly/07-08 Dated 07.03.2011 For The Asst Year 2005-06 Arising Out Of The Order Of The Learned Assessing Officer Framed U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

For Appellant: Shri Somnath Ghosh, AdvocateFor Respondent: Shri P.K.Chakraborty,Addl.CIT
Section 143(3)Section 40A(3)

…or the amount was paid after the banking hours, impugned payments were made under special circumstances and there being no dispute regarding genuineness of these transactions , disallowance u/s 40A(3) could not be made.” CIT vs CPL Tannery reported in (2009) 318 ITR 179 (Cal) The second contention of the assessee that owing to business expediency, obligation and exigency, the assessee had to make cash payment for purchase of goods so essential for carrying on of his business, was also not disputed by the AO. The genuinity of transactions, rate of gross profit or the fact that the bona fide of the assessee that p…