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 366,339 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

Smt. Anita Arya, Kotdwar vs. ITO, Kotdwar

In the result, the appeal of the appellant/assessee is allowed

ITA 228/DDN/2024[2017-18]Status: DisposedITAT Dehradun23 Apr 2025AY 2017-18

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singhassessment Year: 2017-18

For Appellant: Shri SK Ahuja, AR & Ms. SwetaFor Respondent: Shri Amarpal Singh Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 69

…were verified by the Ld. AO. Ld. AO had not rejected books of accounts and accepted audited results. Ld. AO was not justified in making addition under Section 69 of the Act. The Hon’ble Supreme Court in the case of CIT vs. Devi Prasad Vishwnath Prasad (1969) 72 ITR 194 (SC) held that “it is for the Assessee to prove that even if the cash credit represents income, it is income from a source, which has 3 already been taxed”. The appellant/assessee has already offered the sales for taxation hence the onus has been discharged by it and the same income cannot be taxed again. 6. Learned Authorised Representative for…

Kunwar Toseen, Kotdwar Distt. Pauri Garhwal vs. Income Tax Officer, Kotdwar

In the result, both the appeals are allowed for statistical purposes

ITA 179/DDN/2024[2018-19]Status: DisposedITAT Dehradun17 Apr 2025AY 2018-19

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singh

For Appellant: N o n eFor Respondent: Shri A.S. Rana, Sr. DR
Section 144BSection 147Section 148Section 148ASection 271A

…INCOME TAX APPELLATE TRIBUNAL DEHRADUN BENCH “SMC”: NEW DELHI BEFORE SHRI VIMAL KUMAR, JUDICIAL MEMBER AND SHRI BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER ITA No.178/DDN/2024 Assessment Year: 2018-19 ITA No.179/DDN/2024 Assessment Year: 2018-19 Kunwar Toseen, Vs Income Tax Officer, Barthwal Colony, Kashi . Kotdwar, Rampur, Najibabad Road, Kotdwar (Uttarakhand) PAN No. ACAPT5086F (Appellant) (Respondent) Assessee by: N o n e Department by: Shri A.S. Rana, Sr. DR Date of Hearing: 15.04.2025 Date of 15.04.2025 pronouncement: O R D E R PER VIMAL KUMAR, JUDICIAL MEMBER: The appeals are filed by the legal heir of Ap…

Kunwar Toseen, Kotdwar Distt. Pauri Garhwal vs. Income Tax Officer, Kotdwar

In the result, both the appeals are allowed for statistical purposes

ITA 178/DDN/2024[2018-19]Status: DisposedITAT Dehradun17 Apr 2025AY 2018-19

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singh

For Appellant: N o n eFor Respondent: Shri A.S. Rana, Sr. DR
Section 144BSection 147Section 148Section 148ASection 271A

…INCOME TAX APPELLATE TRIBUNAL DEHRADUN BENCH “SMC”: NEW DELHI BEFORE SHRI VIMAL KUMAR, JUDICIAL MEMBER AND SHRI BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER ITA No.178/DDN/2024 Assessment Year: 2018-19 ITA No.179/DDN/2024 Assessment Year: 2018-19 Kunwar Toseen, Vs Income Tax Officer, Barthwal Colony, Kashi . Kotdwar, Rampur, Najibabad Road, Kotdwar (Uttarakhand) PAN No. ACAPT5086F (Appellant) (Respondent) Assessee by: N o n e Department by: Shri A.S. Rana, Sr. DR Date of Hearing: 15.04.2025 Date of 15.04.2025 pronouncement: O R D E R PER VIMAL KUMAR, JUDICIAL MEMBER: The appeals are filed by the legal heir of Ap…

Prakash Chand Varindani, Jaipur vs. ACIT Certal Cirlce-3, Jaipur

In the result, the appeal of the assessee is allowed

ITA 1146/JPR/2024[2017-18]Status: DisposedITAT Jaipur09 Apr 2025AY 2017-18

Bench: Him. 2

For Appellant: Sh. Abhishek Soni, CAFor Respondent: Mrs. Swapnil Parihar, JCIT-DR
Section 144Section 40A(3)Section 68

…. Further, the assessing authority can tax the both the unexplained cash credit and the business income estimated by him after rejecting the books of account. The Hon'ble Supreme Court in the case of Commissioner of Income-tax v. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC1(01-08-1968) has held as under "There is nothing in law which prevents the Income-tax Officer in an appropriate case in tosing both the cash credit, the source and nature of which is not satisfactorily explained, and the business inconse estimated by hiro, under section 13 of the Income-tax Act, after rejecting the books of account of the asse…

Ridhiraj Builders, Jaipur vs. Deputy Commissioner of Income Tax, Circle-6, Ncrb, Jaipur

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

ITA 1167/JPR/2024[2015-16]Status: DisposedITAT Jaipur18 Mar 2025AY 2015-16

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Surendra Sha, C.AFor Respondent: Shri Dinesh Badgujar, Addl.CIT a
Section 115BSection 127Section 142(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 274Section 68

…r) business income (manner of earning and source of earning of such income) which has been invested in the excess stock. Respectfully following the judgements of Hon'ble Supreme Court in the cases of Commissioner of Income-tax v. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01-08-1968), Suraj Bhan Oil (P.) Ltd. v. Deputy Commissioner of Income-tax [2022] 141 taxmann.com 477 (SC)/[2022] 288 Taxman 635 (SC)[25-07-2022] and Principal Commissioner of Income-tax v. Deccan Tobacco Company [2022] 137 taxmann.com 470 (SC)/[2022] 286 Taxman 558 (SC) [11-03-2022), and also in the cases of Roshan Di Hatti v. Commissioner o…

ACIT, Central Circle, Alwar vs. Sh. Tara Chand Gupta, Alwar

In the result the appeal filed by the revenue in ITA no

ITA 514/JPR/2024[2017-18]Status: DisposedITAT Jaipur10 Mar 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं./ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम ACIT, Vs. Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Kesh

For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. Arvind Kumar, CIT-DR a
Section 143(3)Section 68Section 69C

…ourt, it is held by the Hon'ble ITAT in the case of Navin Shantilal Mehta v. Income-tax Officer, Ward-32 (2) (4), Mumbai (2018) 90 taxmann.com 16 (Mumbai Trib.) as under:- x x x x The Hon’ble Supreme Court in the case of CIT vs. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01.08.1968] has held as under:- x x x x As per the headnotes "Section 145 of the Income-tax Act, 1961 [Corresponding to section 13 of the Indian Income tax Act, 1922] Method of accounting- System of accounting Assessment year 1946-47-Whether where there is an unexplained cash credit it is open to ITO to hold that it is income of assessee and…

Sh. Tarachand Gupta, Alwar vs. ACIT, Central Circle, Alwar

In the result the appeal filed by the revenue in ITA no

ITA 449/JPR/2024[2017-18]Status: DisposedITAT Jaipur10 Mar 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम Vs. ACIT, Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Ke

For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. Arvind Kumar, CIT-DR a
Section 143(3)Section 68Section 69C

…ourt, it is held by the Hon'ble ITAT in the case of Navin Shantilal Mehta v. Income-tax Officer, Ward-32 (2) (4), Mumbai (2018) 90 taxmann.com 16 (Mumbai Trib.) as under:- x x x x The Hon’ble Supreme Court in the case of CIT vs. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01.08.1968] has held as under:- x x x x As per the headnotes "Section 145 of the Income-tax Act, 1961 [Corresponding to section 13 of the Indian Income tax Act, 1922] Method of accounting- System of accounting Assessment year 1946-47-Whether where there is an unexplained cash credit it is open to ITO to hold that it is income of assessee and…

Sh. Tarachand Gupta, Alwar vs. ACIT, Central Circle, Alwar

In the result the appeal filed by the revenue in ITA no

ITA 448/JPR/2024[2016-17]Status: DisposedITAT Jaipur10 Mar 2025AY 2016-17
For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. Arvind Kumar, CIT-DR
Section 143(3)Section 68Section 69C

…Court, it is held by the Hon'ble ITAT in the case of Navin Shantilal Mehta v. Income-tax Officer, Ward-32 (2) (4), Mumbai (2018) 90 taxmann.com 16 (Mumbai Trib.) as under:- X X X X The Hon'ble Supreme Court in the case of CIT vs. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01.08.1968] has held as under:- X X X X As per the headnotes "Section 145 of the Income-tax Act, 1961 [Corresponding to section 13 of the Indian Income tax Act, 1922] Method of accounting- System of accounting Assessment year 1946-47-Whether where there is an unexplained cash credit it is open to ITO to hold that it is income of assessee and…

Piyush Jain, Indore vs. Income Tax Officer-4(4), Indore, ITO

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

ITA 368/IND/2024[2017-18]Status: DisposedITAT Indore07 Mar 2025AY 2017-18

Bench: Sh. Bhagirath Mal Biyani & Sh. Udayan Dasgupta

For Appellant: Sh. Gagan Tiwari & Ms. Priyal Jain, ARsFor Respondent: Sh. Ashish Porwal, Sr. D. R
Section 143(3)Section 199CSection 250Section 68

…f PCIT (Central) vs. Agson Global P. Ltd. (Delhi High Court) appeal number ITA 68/2021 and CM no. 9319/2021_order dated 19-01-2022. Reliance can also be placed on the decision of Hon'ble Supreme Court in the case of CIT v. Devi Prasad Vishwanath Prasad [1969] 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 18. It was held in case of Kishore Jeram Bhai Khaniya Vs Income…

Challenge Commodities Pvt. Ltd., New Delhi vs. ITO, Noida

In the result only ground pressed by the assessee is allowed

ITA 2030/DEL/2017[2013-14]Status: DisposedITAT Delhi27 Feb 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Naveen Chandraassessment Year: 2014-15

Section 144Section 145(3)Section 68

…ther case of Banwari Lal BanshiDhar (229 ITR 229) (1998) has laid down that when G.P. rate is applied, that takes care of everything and there is no need of any further addition. 7.4.3 Hon'ble Supreme Court in the case of Devi Prasad VishwaNath Prasad (1969)(72 ITR 194) held as under: "When there is unexplained cash credit, and income is finalized by AO on estimation basis, it is open for ITO to hold that it is income of the assessee. No further burden lies on the ITO to show that the income is from a particularsource. It is for the assessee to prove that even if cash credit represents income, it is income from…

Paras Mal Jain, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 1469/JPR/2024[2014-15]Status: DisposedITAT Jaipur26 Feb 2025AY 2014-15
For Appellant: Shri R.K. Bhatra, CAFor Respondent: Shri Arvind Kumar, CIT-DR (Thru' V.C.)
Section 132(1)Section 142(1)Section 143Section 143(3)Section 271A

…hold that these assets represented the undisclosed income of the assessee. There is no presumption in favor of business income. Onus to prove is on assessee. The Hon'ble Supreme Court in the case of Commissioner of Income- tax v. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC) [01-08-1968] has held as under- "There is nothing in law which prevents the Income-tax Officer in an appropriate case in taxing both the cash credit, the source and nature of which is not satisfactorily explained, and the business income estimated by him under section 13 of the Income-tax Act, after rejecting the books of account of the asses…

Kiran Fine Jewellers Private Limited, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-2, Jaipur

In the result ground no 2 raised by the assessee is allowed

ITA 648/JPR/2024[2017-18]Status: DisposedITAT Jaipur25 Feb 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. S. R. Sharma, CA &For Respondent: Sh. P. P. Meena, CIT-Th. V.H
Section 115BSection 143(3)Section 145(3)Section 68Section 69A

…Unexplained credit and unexplained money cannot be presumed to be business income. If the assesse claims so, the assesse is required to prove the same. [Ratio of Hon'ble Supreme Court in the case of Commissioner of Income-tax v. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01-08-1968] as per judgement in the Principal Commissioner of Income-tax v. Bajargan Traders, the "source of investment/expenditure is clearly identifiable" i.c. the source must be clearly identifiable. In this regard, as per provisions of the Act, not only the source but the year of earning of income also needs to be shown for taxing in the…

Sandeep Kumar Soni, Bhopal vs. The ITO 4(3), Bhopal

Appeals are allowed

ITA 82/IND/2023[2017-18]Status: DisposedITAT Indore24 Feb 2025AY 2017-18

Bench: Shri B.M. Biyani & Shri Dinesh Mohan Sinhashri Deepak Soni, Ito-4(3), बनाम/ Prop. Ambalika Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (Pan: Acyps8020J) (Assessee/Appellant) (Revenue/Respondent) Shri Sandeep Kumar Soni, Ito-4(3), बनाम/ Prop. Ambey Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (Pan: Avgps0484F) (Assessee/Appellant) (Revenue/Respondent)

Section 143(3)Section 253(5)

…आयकरअपीलीयअिधकरण, इंदौर"ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI B.M. BIYANI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER Shri Deepak Soni, ITO-4(3), बनाम/ Prop. Ambalika Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (PAN: ACYPS8020J) (Assessee/Appellant) (Revenue/Respondent) Shri Sandeep Kumar Soni, ITO-4(3), बनाम/ Prop. Ambey Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (PAN: AVGPS0484F) (Assessee/Appellant) (Revenue/Respondent) Assessee by Shri Gagan Tiwari, AR Revenue by Shri Sanjiv Kumar, Sr. DR Date of Hearing 18.12.2024 Date of 24.02.2025 Pron…

Shri Deepak Soni, Bhyopal vs. The ITO 4 (3), Bhopal

Appeals are allowed

ITA 1/IND/2023[2017-18]Status: DisposedITAT Indore24 Feb 2025AY 2017-18

Bench: Shri B.M. Biyani & Shri Dinesh Mohan Sinhashri Deepak Soni, Ito-4(3), बनाम/ Prop. Ambalika Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (Pan: Acyps8020J) (Assessee/Appellant) (Revenue/Respondent) Shri Sandeep Kumar Soni, Ito-4(3), बनाम/ Prop. Ambey Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (Pan: Avgps0484F) (Assessee/Appellant) (Revenue/Respondent)

Section 143(3)Section 253(5)

…आयकरअपीलीयअिधकरण, इंदौर"ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI B.M. BIYANI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER Shri Deepak Soni, ITO-4(3), बनाम/ Prop. Ambalika Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (PAN: ACYPS8020J) (Assessee/Appellant) (Revenue/Respondent) Shri Sandeep Kumar Soni, ITO-4(3), बनाम/ Prop. Ambey Jewellers, Bhopal Vs. 18, Chowk Bazar, Bhopal (PAN: AVGPS0484F) (Assessee/Appellant) (Revenue/Respondent) Assessee by Shri Gagan Tiwari, AR Revenue by Shri Sanjiv Kumar, Sr. DR Date of Hearing 18.12.2024 Date of 24.02.2025 Pron…

DCIT, Jaipur vs. Amrapali Jewels Pvt. Ltd., Jaipur

In the result, the appeal filed by the assessee is partly allowed and

ITA 740/JPR/2024[2021]Status: DisposedITAT Jaipur19 Feb 2025

Bench: Him.

For Appellant: Sh. Sanjay Jhanwar, Sr. AdvFor Respondent: Mrs. Alka Gautam, CIT-DR
Section 143(3)Section 145(3)Section 153DSection 251Section 69B

…lained, and the business income estimated by him under section 13 of the Income-tax Act, after rejecting the books of account of the assessee as unreliable". The Hon'ble Supreme Court in the case of Commissioner of Income-tax v. Devi Prasad Vishwanath [1969] 72 ITR 194 (SC)[01-08-1968] has held as under:- x x x x As per the headnotes "Section 145 of the Income-tax Act, 1961 (Corresponding to section 13 of the Indian Income tax Act, 1922] Method of accounting System of accounting Assessment year 1946-47 Whether where there is an unexplained cash credit it is open to ITO to hold that it is income of assessec and…

Jagdish Kumar Arora, Bhawanimandi vs. DCIT, Central Circle- Kota, Kota

In the result, the appeal of the assessee is allowed

ITA 1195/JPR/2024[2017-18]Status: DisposedITAT Jaipur11 Feb 2025AY 2017-18

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Sh. Shrawan Kumar Gupta, AdvFor Respondent: Mrs. Anita Rinesh, JCIT-Sr. DR
Section 115BSection 143(3)Section 145(3)Section 234ASection 69

…he known head, give opportunity to the assessee to establish nexus and if it is satisfactorily established then first such investment should be considered as undeclared receipt under that particular head. Hon'ble Supreme Court in Devi Prasad Vishwanath [1969] 72 ITR 194 (SC) has given a verdict upholding the reverse view that onus to identify the source solely lies on the assessee and it cannot be shifted to the assessing authority. Hon'ble ITAT in the case of Shri Ramnarayan Birla (in ITA No. 482/JP/15 dated 30.09.2016) which is relied upon by the Hon'ble ITAT in the case of Bajrang Traders, it is held by the H…

Sunita Jajoo, Surat vs. ITO Ward 2(2)(4), Surat

In the result, assessee’s appeal is allowed

ITA 882/SRT/2024[2011-12]Status: DisposedITAT Surat10 Feb 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) (Physical Court Hearing) Rambilash Rajaram Jajoo Income Tax Officer, Ward- 429-432, Golden Point, Falsawadi, 2(2)(4), Aaykar Bhawan, Majura बनाम Ring Road, Surat City, Gate, Opp. New Civil Hospital, Vs Surat-395 002 Surat-395 001 [Pan : Aampj 0040 K] अपीलाथ"/Appellant ""थ" /Respondent

Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

…of Delhi in CIT Nippun Builders and Development Private Limited in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- 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 explaine…

Rambilash Rajaram Jajoo, Surat vs. Income Tax Officer Ward-2(2)(4), Surat

ITA 552/SRT/2024[2011-12]Status: DisposedITAT Surat10 Feb 2025AY 2011-12

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No. 552/Srt/2024 (Ay 2011-12) Rambilash Rajaram Jajoo (Physical Court Hearing) 429-432, Golden Point, Falsawadi, Ring Road, Surat City, Surat-395 002 [Pan : Aampj 0040 K] अपीलार्थी/Appellant Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 प्रत्यर्थी / Respondent आयकर अपील सं./Ita No. 882/Srt/2024 (Ay 2011-12) Sunita Jajoo 429-432, Golden Point, Near Bsnl Office, Falsawadi, Ring Road, Surat-395 002 [Pan: Aampj 0040 K] बनाम Vs Income Tax Officer, Ward- 2(2)(4), Aaykar Bhawan, Majura Gate, Opp. New Civil Hospital, Surat-395 001 अपीलार्थी/Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से /Assessee By Ms. Richa Toshniwal. Ca राजस्व की ओर से /Revenue By Shri Minal Kamble, Sr. Dr सुनवाई की तारीख/Date Of Hearing 23.01.2025 उद्घोषणा की तारीख/Date Of Pronouncement 10.02.2025 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. These Two Appeals By Separate Assessee Are Directed Against The Separate Orders Of Addl/Jcit(A)-7, Kolkata/National Faceless Appeal Centre, Delhi [For Short To As "Nfac/Ld.Cit(A)] Dated 21.03.2024 & 21.04.2023 For Same

Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

…of Delhi in CIT Nippun Builders and Development Private Limited in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- 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 explaine…

Income Tax Officer, Ward-1, Khammam vs. Varalakhsmi Constructions, Khammam

In the result, both the appeal filed by the revenue are dismissed

ITA 304/HYD/2024[2016-17]Status: DisposedITAT Hyderabad04 Feb 2025AY 2016-17

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita Nos.303 & 304/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2014-15 & 2016-17) Income Tax Officer Vs. Varalakshmi Ward-1 Constructions Khammam Khammam Pan:Aagfv0744C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri B Bala Krishna, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 23/01/2025 घोषणा की तारीख/Pronouncement: 04/02/2025 आदेश/Order Per Vijay Pal Raothese Two Appeals Filed By The Revenue Are Directed Against The Separate Orders Of The Learned Cit (A) Nfac Delhi Both Dated 22/01/2024 For The A.Ys 2014-15 & 2016-17 Respectively. The Revenue Has Raised Identical Grounds Of Appeal For These A.Ys. The Grounds Raised By The Revenue For The A.Y 2014-15 Are As Under:

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri B Bala Krishna, CIT(DR)
Section 144Section 148Section 69A

…at they are applicable only to the extent of computation of income under the head "Business" and as far as addition of cash credits under S.68 and S.69, the decision of the Hon'ble Supreme Court in the case of CITV/s. Devi Prasad Vishwanath Prasad reported in 72 ITR 194 (SC) was followed. 8. On the other hand, the learned counsel for the assessees also relied upon the decision of the jurisdictional High Court in the case of Indwell Constructions (232 ITR 776), wherein it was held that where the income of an assessee is estimated, there cannot be any other addition. Therefore, according to him, the addition of rer…

Income Tax Officer, Ward 1, Khammam vs. Varalakshmi Constructions, Khammam

In the result, both the appeal filed by the revenue are dismissed

ITA 303/HYD/2024[2014-15]Status: DisposedITAT Hyderabad04 Feb 2025AY 2014-15

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita Nos.303 & 304/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2014-15 & 2016-17) Income Tax Officer Vs. Varalakshmi Ward-1 Constructions Khammam Khammam Pan:Aagfv0744C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri B Bala Krishna, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 23/01/2025 घोषणा की तारीख/Pronouncement: 04/02/2025 आदेश/Order Per Vijay Pal Raothese Two Appeals Filed By The Revenue Are Directed Against The Separate Orders Of The Learned Cit (A) Nfac Delhi Both Dated 22/01/2024 For The A.Ys 2014-15 & 2016-17 Respectively. The Revenue Has Raised Identical Grounds Of Appeal For These A.Ys. The Grounds Raised By The Revenue For The A.Y 2014-15 Are As Under:

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri B Bala Krishna, CIT(DR)
Section 144Section 148Section 69A

…at they are applicable only to the extent of computation of income under the head "Business" and as far as addition of cash credits under S.68 and S.69, the decision of the Hon'ble Supreme Court in the case of CITV/s. Devi Prasad Vishwanath Prasad reported in 72 ITR 194 (SC) was followed. 8. On the other hand, the learned counsel for the assessees also relied upon the decision of the jurisdictional High Court in the case of Indwell Constructions (232 ITR 776), wherein it was held that where the income of an assessee is estimated, there cannot be any other addition. Therefore, according to him, the addition of rer…