CIT v. Devi Prasad Vishwanath Prasad

72 ITR 194Supreme Court of India1969#292 most cited

What is CIT v. Devi Prasad Vishwanath Prasad authority for?

If there is an unexplained cash credit, the Assessing Officer can treat it as the assessee's income, even when the income is finalized on an estimation basis, without proving its specific source. The onus then shifts to the assessee to prove that the income represented by the cash credit has already been taxed.

272

judgments rely on this decision, according to BharatTax’s citation analysis of 366,416 Indian tax judgments — from 2009 to 2026.

Also referred to as

Devi Prasad Vishwanath Prasad · 72 ITR 194 · Section 68 · unexplained cash credit · onus of proof · estimated assessment · source of income · AO burden of proof · assessee's burden · income finalized on estimation · addition u/s 68

Sections most often in play

Section 68Section 143(3)Section 115BBESection 69ASection 145(3)Section 142(1)Section 144Section 143(2)

Issues it is cited on

section 106section 66creditworthiness of the creditoronus of proofpaper companysection 31source of sourcesection 251(2)share capital and share premiumrejection of books of accountaddition u/s 68section 145(3)

Judgments citing CIT v. Devi Prasad Vishwanath Prasad

Principal Commissioner of Income Tax-5, Kolkata vs. Pooja Jhunjhunwala

In the result, these appeals are allowed and the substantial

ITAT/87/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax 13 Kolkata vs. Smt Ganapati Devi Agarwal

In the result, these appeals are allowed and the substantial

ITAT/34/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax-5, Kol vs. Sunita Goyal

In the result, these appeals are allowed and the substantial

ITAT/78/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax Siliguri vs. Nitin Kumar Agarwal

In the result, these appeals are allowed and the substantial

ITAT/36/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax-5, Kolkata vs. Aayush Jhunjhunwala HUF

In the result, these appeals are allowed and the substantial

ITAT/89/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax Kol 5 vs. Ranjika Gupta

In the result, these appeals are allowed and the substantial

ITAT/80/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax Siliguri vs. Neetu Agarwal

In the result, these appeals are allowed and the substantial

ITAT/3/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax vs. Nand Kishore Agarwala

In the result, these appeals are allowed and the substantial

ITAT/22/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax-9, Kolkata vs. M/S. Gopal Prasad Tikmani HUF

In the result, these appeals are allowed and the substantial

ITAT/153/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax -5, Kol vs. Ramakant Beriwala

In the result, these appeals are allowed and the substantial

ITAT/60/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax 9 Kolkata vs. M/S Girish Tikmani HUF

In the result, these appeals are allowed and the substantial

ITAT/157/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Pr CIT 9 Kolkata vs. Girish Tikmani

In the result, these appeals are allowed and the substantial

ITAT/156/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax-9, Kolkata vs. Gopal Prasad Tikmani

In the result, these appeals are allowed and the substantial

ITAT/151/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Principal Commissioner of Income Tax -5, Kolkata vs. Swati Bajaj

In the result, these appeals are allowed and the substantial

ITAT/6/2022HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Harshita Chhawchharia vs. Commissioner of Income Tax, Kolkata-20

In the result, these appeals are allowed and the substantial

ITA/3/2021HC Calcutta07 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

Income Tax Officer 8(3)(3), Mumbai vs. M/S.Vibgyor Texotech Private Limited, Mumbai

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

ITA 1484/MUM/2018[2009-10]Status: DisposedITAT Mumbai29 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…ement of jurisdictional High Court in the case of CIT v. Maduri Rajaiahgari Kistaiah (120 ITR 294). Further, we Smt. Shobha Gupta ==================== place reliance on the judgement of Hon'ble Supreme Court in the case of CIT v. Devi Prasad Viswanath Prasad (72 ITR 194) wherein held that on rejection of books of account, business income estimated, addition towards unexplained cash credit separately valued. 13. Further, the approach of the various High Courts' is not uniform on the above aspect as would be seen from the following cases. In CIT v. Aggarwal Engg. Co. (Jai.) (2006) 206 CTR (P&H) 648, the Punjab & H…

M/S.Vibgyor Texotech Private Limited, Mumbai vs. ACIT-8(3)(2), Mumbai

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

ITA 487/MUM/2019[2009-10]Status: DisposedITAT Mumbai28 Apr 2022AY 2009-10

Bench: Shri Amarjit Singh () & Shri Om Prakash Kant () Assessment Year: 2009-10 Income Tax Officer-8(3)(3), M/S Vibgyor Texotech Pvt. Ltd., Room No. 616, 6Th Floor, Aayakar 309, Navyug, T.J. Road, Sewree, Bhavan, M.K. Road, Vs. Mumbai-400015. Mumbai-400020. Pan No. Aaccv 0752 D Appellant Respondent Assessment Year: 2009-10 M/S Vibgyor Texotech Pvt. Ltd., The Asst. Commissioner Of 309, Navyug, T.J. Road, Sewree, Income Tax-8(3)(2), Mumbai-400015. Vs. Mumbai. Pan No. Aaccv 0752 D Appellant Respondent

For Appellant: Mr. Pavan Ved, ARFor Respondent: Mr. Achal Sharma, CIT-DR/
Section 10ASection 143(2)Section 143(3)Section 144Section 148Section 264ASection 40

…ement of jurisdictional High Court in the case of CIT v. Maduri Rajaiahgari Kistaiah (120 ITR 294). Further, we Smt. Shobha Gupta ==================== place reliance on the judgement of Hon'ble Supreme Court in the case of CIT v. Devi Prasad Viswanath Prasad (72 ITR 194) wherein held that on rejection of books of account, business income estimated, addition towards unexplained cash credit separately valued. 13. Further, the approach of the various High Courts' is not uniform on the above aspect as would be seen from the following cases. In CIT v. Aggarwal Engg. Co. (Jai.) (2006) 206 CTR (P&H) 648, the Punjab & H…

Gautam D. Jain, Gujarat vs. Commissioner of Income Tax, Delhi

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

ITA 246/SRT/2021[2011-12]Status: HeardITAT Surat11 Apr 2022AY 2011-12

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainigautam D Jain, Income Tax Officer, Ward 1(1)(4) D6/201, Model Town Park, Opp. Room No. 110, 1St Floor, Vs. Vakilwadi, B/H Landmark Empires, Aayakar Bhawan, Majura Gate, Parvatpatil, Surat. Surat. Pan : Abbpj 5222 B Email Add: Info@Prakashjhunjhunwala.Com Appellant/ Assessee Respondent/ Revenue

Section 142(1)Section 143(1)Section 145(3)Section 148Section 254(1)Section 68

…. The assessee has to prove the identity, creditworthiness and the genuineness of transactions. The assessee made no attempt to prove the same. The ld. CIT(A)/NFAC by referring the decision of the Hon'ble Apex Court in the case of CIT Vs Devi Prasad Viswanath 72 ITR 194 (SC), wherein it was held that onus is on the assessee to prove the source of income from any particular source.the ld CIT(A)/ NFAC upheld the addition by taking a view that the additions are in accordance with the provisions of law. Further aggrieved, the assessee filed the present appeal before this Tribunal. 4. We have heard the submissions of…

Atish Singla, New Delhi vs. ITO, Ward-43(7), New Delhi

In the result, appeal of the Assessee is allowed

ITA 1185/DEL/2021[2017-18]Status: DisposedITAT Delhi06 Apr 2022AY 2017-18

Bench: Shri R.K. Panda

For Appellant: Shri R.S. Singhvi, AdvocateFor Respondent: Shri Om Prakash, Sr. DR
Section 143(2)Section 68

…nd on the other hand amounts received from above parties has also been added u/s. 68 of the Act. This view has been held by the Hon'ble Supreme Court in the case of CIT v. Devi Prasad Vishwanath Prasad [1969] 18 ITA.No.1185/Del./2021 Atish Singla, New Delhi. 72 ITR 194 that "It is for the assessee to prove that even if the cash credit represents income, it is income from a source, which has already been taxed. The assessee has already offered the sales for taxation hence the onus has been discharged by it and the same income cannot be taxed again.” 7.4. I find the Coordinate Bench of the Tribunal in the case of…

Kalaneedhi Jewellers LLP, Patiala vs. DCIT-CC, Patiala

In the result, appeals of both the assesses are allowed

ITA 311/CHANDI/2021[2017-18]Status: DisposedITAT Chandigarh25 Mar 2022AY 2017-18
For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Priyanka Dhar, Sr. DR
Section 143(3)

…Vs Dilip Kumar Swami as reported in 106 taxmann.com 59(Raj) • ITO Vs Sh. Pavan Kumar Bhagatram Sharma (ITAT Ahm) • Kishore Jeram Bhai Khaniya Prop. M/s Poonam Enterprises Vs ITO, in ITA No. 1220/Del/2011 (ITAT Del) • CIT vs Devi Prasad Vishwnath Prasad (1969) 72 ITR 194 (SC) • CIT vs. Durga Prasad More (1969) 72 ITR 807 (SC) • Smt. HarshilaChordiavs ITO (2008) 298 ITR 349 (Raj) • M/s Heera Steel Limited vs. ITO (2005) 4 ITJ 437 (Nag) • CIT vs. Ghai Lime Stone Co. (1983) 144 ITR 140(MP) • R.B. Jessaram Fatehchand (Sugar Dept.) v. CIT reported at [1970] 75 ITR 33 (BOM.) • M. Durai Raj v. CIT [1972] 83 ITR 484 (Kera…