How many judgments cite CIT v. Devi Prasad Vishwanath Prasad?

272 judgments on BharatTax cite CIT v. Devi Prasad Vishwanath Prasad (72 ITR 194), spanning 2009 to 2026.

Which sections of the Income Tax Act does CIT v. Devi Prasad Vishwanath Prasad come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 115BBE, Section 69A, Section 145(3), Section 142(1).

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 68 Section 143(3)Section 115BBE Section 69A Section 145(3)Section 142(1)Section 144 Section 143(2)

Issues it is cited on

section 106 section 66 creditworthiness of the creditor onus of proof paper company section 31 source of source section 251(2)share capital and share premium rejection of books of account addition u/s 68 section 145(3)

Judgments citing CIT v. Devi Prasad Vishwanath Prasad

Mr. Bichitrananda Rout, Shankarpur, Cuttack vs. Income Tax Officer, Ward-2(1), Cuttack

In the result, appeal of the assessee stands dismissed

ITA 60/CTK/2024[2017-18]Status: HeardITAT Cuttack10 Jul 2024AY 2017-18

For Appellant: Shri B.R.PandaFor Respondent: Shri S.C.Mohanty

Section 115BSection 44ASection 69A

…ice ultimately credited to profit 8: loss account) and 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 vs. Devi Prasad Vishwnath Prasad (1969) 72 ITR 194(SC) that "It is for the assessee to prove that even if the cash credit represents income, it is income from as 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." 14. The ld. DR, has relied upon the decision of ITAT, Hyde…

M/S. Sanjay Gold Palace, Chennai vs. ITO, Non Corp. Ward 6(3), Chennai

In the result, appeal filed by the assessee is allowed

ITA 1629/CHNY/2023[2017-18]Status: DisposedITAT Chennai31 May 2024AY 2017-18

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 1629/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Income Tax Officer, M/S. Sanjay Gold Palace, V. Non-Corporate Ward 6(3), Shop No. 16/A, Nsc Bose Road, Chennai – 600 006. Sowcarpet, Chennai – 600 079. [Pan: Adcfs-8067-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. D. Anand, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 31.05.2024 आदेश /O R D E R

For Respondent: Shri. D. Hema Bhupal, JCIT

Section 143(2)Section 143(3)Section 69Section 69B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी एबी टी वक", "याियक सद"य एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम" BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 1629/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Income Tax Officer, M/s. Sanjay Gold Palace, v. Non-Corporate Ward 6(3), Shop No. 16/A, NSC Bose Road, Chennai – 600 006. Sowcarpet, Chennai – 600 079. [PAN: ADCFS-8067-N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. D. Anand, Advocate अपीलाथ" क" ओर से/Appellant by ""यथ"…

Priyanka Surana, Jaipur vs. ITO Ward 5(1), Jaipur

In the result, the appeal of the assesee is allowed

ITA 102/JPR/2024[2017-18]Status: DisposedITAT Jaipur28 May 2024AY 2017-18

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Sharwan Kumar Gupta, AdvFor Respondent: Smt. Monisha Choudhary, Addl. CIT-DR

Section 115BSection 142(1)Section 143(2)Section 143(3)Section 234ASection 68

…assesse should bring some corroborative material on record through which it can be proved, (a) In similar matter Honourable Supreme court has propounded in the matter of; CIT , ... vs Devi Prasad Vishwanath Prasad on 1 August, 1968 Equivalent citations: 1969 72 ITR 194 SC “9. The High Court, in disposing of the application under section 66(2), expressed the view that because the amount of Rs. 20,000 was entered in the books of account of the business, there was some material to hold that the amount was income of the assessee from the business and not from some other source. But it was not open to the High Court…

Kishan Singh, Jhajjar vs. ITO, Ward-2, Rohtak

In the result, the appeal of the assessee is dismissed

ITA 768/DEL/2020[2010-11]Status: DisposedITAT Delhi22 May 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Vimal Kumarkishan Singh, Vs. Ito, Vpo-Jakhoda, Tehsil- Ward-2, Bahadurgarh, Distt. Jajjar, Rohtak Bahadurgarh, Haryana (Appellant) (Respondent) Pan: Dqlps9421M Assessee By : Shri Naveen Gupta, Adv Revenue By: Shri Sandeep Kr. Mishra, Sr. Dr Date Of Hearing 13/05/2024 Date Of Pronouncement 22/05/2024

For Appellant: Shri Naveen Gupta, AdvFor Respondent: Shri Sandeep Kr. Mishra, Sr. DR

Section 144Section 147

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Kishan Singh, Vs. ITO, VPO-Jakhoda, Tehsil- Ward-2, Bahadurgarh, Distt. Jajjar, Rohtak Bahadurgarh, Haryana (Appellant) (Respondent) PAN: DQLPS9421M Assessee by : Shri Naveen Gupta, Adv Revenue by: Shri Sandeep Kr. Mishra, Sr. DR Date of Hearing 13/05/2024 Date of pronouncement 22/05/2024 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.768/Del/2020 for AY 2010-11, arises out of the order of the Commissioner of Income Tax (Appeals), Rohtak [hereinafter referred to…

ITO, New Delhi vs. Sh. Avtar Singh, Gurgaon

Appeal is allowed for statistical purpose

ITA 2592/DEL/2017[2012-13]Status: DisposedITAT Delhi09 May 2024AY 2012-13

Bench: or during the course of the hearing of the appeal.”

For Respondent: “1. The Ld. CIT(A) erred in deleting the addition of Rs.1,79,84

Section 143(2)Section 144Section 145(3)Section 68

…ble High Court of Rajasthan in CIT Vs. G K Contractor ITA No. 13 of 2009. 5 ITO vs. Avtar Singh 5. Ld. DR has relied on Hon’ble Supreme Court decisions in the case of Kale Khan Mohd. Hanif Vs. CIT 50 ITR 1 (SC) and CIT Vs. Devi Pfasad Vishwanath Prasad 1969 72 ITR 194 (SC). 6. Giving thoughtful consideration to the material and the judgments relied by Ld. DR we are of view that only because the books are rejected and addition is made on the basis of some estimate, an alleged income from undisclosed source represented by an unexplained credit entry in the books cannot be held to be subsumed in income assessed on…

M/S Satwant Agro Engineers, Bhawanigarh vs. DCIT, Central Circle, Patiala

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

ITA 753/CHANDI/2022[AY 2019-20]Status: DisposedITAT Chandigarh03 May 2024

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Deepak Anand, AdvocateFor Respondent: Shri Dharamvir, JCIT, Sr. DR

Section 115BSection 133ASection 143(2)Section 143(3)Section 68Section 69Section 69A

…ome estimated by him after rejecting the books of account of the assessee as unreliable. This was so decided in the case of Kale Khan Mohammad Hanif v. CIT [1963] 50 ITR 1 (SC). It has also been held in the case of CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194, 196 (SC) that "whether in a given case the Assessing Officer may tax the cash credit entered in the books of account of the business, and at the same time estimate the profit must, however, depend upon the facts of each case." It has been held in the case of CIT vs. Maduri Rajaiahgari Kistaiah [1979] 120 ITR 294 (AP) that "where the unexplained c…

Quest Online, Kolkata vs. ITO, Ward-49(1), Kolkata.

In the result, the appeal of the assessee is allowed

ITA 1046/KOL/2023[2020-21`]Status: DisposedITAT Kolkata03 May 2024

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A. No.1046/Kol/2023 Assessment Year: 2020-21 Quest Online…………………………………...............................……….……Appellant Block-A, 3Rd Floor, Room No.24, 1, Chandni Chowk Street, Princep Street, Kolkata – 700072. [Pan:Aaafq4820G] Vs. Ito, Ward-49(1),Kolkata.............…..….…..….........……........……...…..…..Respondent Appearances By: Shri S. M. Surana, Advocate & Sunil Surana, Ca, Appeared On Behalf Of The Appellant. Shri S. Datta, Cit, Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 02, 2024 Date Of Pronouncing The Order : May 03, 2024 Order Per Rajesh Kumar: The Present Appeal Filed By The Assessee For The Assessment Year 2020-21Against The Order Dated 08.09.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Only Issue Raised In The Various Grounds Of Appeals Is Against The Confirmation Of Addition By Cit(A) Of Rs.14,82,41,932/- As Made By The Assessing Officer U/S 68 Of The Act R.W.S. 115Bbe Of The Act. 3. The Facts In Brief Are That The Assessee Filed Return Of Income On 09.01.2021 Declaring Total Income From Business & Profession At Rs.36,73,790/-. The Case Was Selected For Complete Scrutiny Under Cass & Statutory Notices Were Duly Issued & Served Upon The Assessee. During The Assessment Proceedings, The Various Documents & Evidences Were Called For By The Assessing Officer From The Assessee

Section 115BSection 133(6)Section 143(3)Section 250Section 68

…by the assessee, it is open to the Revenue to hold that it is the income of the assessee and no further burden lies on the Revenue to show that that income is from any particular source. Vide Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194 (SC), Here, in the present case, the assessee introduces in the books of account of its business on 30th March, 1948, capital of Rs. 3,33,414/- which consisted of gold raw, gold ornaments, stones and cash. The burden of accounting for the receipt of these assets was clearly on the assessee and if the assessee failed to prove satisfactorily the nat…

ITO Ward-51(5), Delhi vs. Ramesh Chander Rajput, Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 1189/DEL/2022[2017-18]Status: DisposedITAT Delhi03 May 2024AY 2017-18

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 142(1)Section 143(2)Section 68

…offered for taxation, the same cannot be again considered u/s 68 of the Act. In fact, such addition has resulted into double addition." ITO vs. Ramesh Chander Rajput 27. The 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." 28. Having provided the explanation for the said cash deposi…

The Asstt. Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad vs. Shri Sanjay Kishanlal Bishnoi, Ahmedabad

ITA 297/AHD/2021[2015-16]Status: DisposedITAT Ahmedabad10 Apr 2024AY 2015-16

Bench: Shri Ramit Kochar & Ms. Suchitra Kamble

For Appellant: Sh. Umedsingh Bhati & Sh. Abhimanyu SinghFor Respondent: Sh. Subhendu Das, CIT, DR

Section 143(3)Section 145(3)Section 253(3)Section 69C

…jected and G P ratio is applied, then no other additions can be made. We are afraid , this contentions also lacked merit. Reference is drawn to three judge bench decision of Hon’ble Supreme Court in the case of CIT v. Devi Prasad Vishwanath reported in (1969) 72 ITR 194(SC), wherein Hon’ble Apex Court 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 o…

The Asstt. Commissioner of Income Tax, Circle-2(1)(1), Ahmedabad vs. Shri Sanjay Kishanlal Bishnoi, Ahmedabad

ITA 296/AHD/2021[2014-15]Status: DisposedITAT Ahmedabad10 Apr 2024AY 2014-15

Bench: Shri Ramit Kochar & Ms. Suchitra Kamble

For Appellant: Sh. Umedsingh Bhati & Sh. Abhimanyu SinghFor Respondent: Sh. Subhendu Das, CIT, DR

Section 143(3)Section 145(3)Section 253(3)Section 69C

ITO, Non Corporate Ward 1(4), Coimbatore vs. M/S Surabii Gold, Coimbatore

In the result, appeal filed by the revenue is dismissed

ITA 372/CHNY/2023[2017-18]Status: DisposedITAT Chennai05 Apr 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 372/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Income-Tax Officer, M/S. Surabii Gold, Non-Corporate Ward 1(4), V. 138, Karuppa Gounder Street, Aayakar Bhavan, K G Street, 63, Race Course Road, Coimbatore – 641 012. Coimbatore – 641 018. [Pan: Abufs-6503-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. D. Hema Bhupal, Jcit : Shri. S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 26.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 05.04.2024

For Appellant: Shri. D. Hema Bhupal, JCIT

…ice ultimately credited to profit 8: loss account) and 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 vs. Devi Prasad Vishwnath Prasad (1969) 72 ITR 194(SC) that "It is for the assessee to prove that even if the cash credit represents income, it is income from as source, which has already been taxed." The assessee has already :-39-: ITA. No: 372/Chny/2023 offered the sales for taxation hence the onus has been discharged by it and the same income cannot be taxed again." 14. The ld. DR, has relied…

ACIT, Circle 25(1), Delhi vs. Vinod Rice Meal Pvt. Ltd., Delhi

In the result, the appeal of the Revenue is dismissed

ITA 2048/DEL/2021[2012-13]Status: DisposedITAT Delhi04 Apr 2024AY 2012-13

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. K. Sampath, Adv. &For Respondent: Sh. Amit Katoch, Sr. DR

Section 133(6)Section 68

…:- “Once it is held that an amount credited in the accounts books of the assessee is the income of the assessee it is not necessary for the department to locate its exact source.” 13 Vinod Rice Meal Pvt. Ltd. ix) CIT Vs. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194:- “The question again assumes that it was for the ITO 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 it is not, in our judgement, the correct legal position. Where there is an explained cash credit, it is open to the ITO to hold that it is the income of…

Deputy Commissioner of Income-Tax, Corporate Circle-1, Coimbatore vs. Ms Dar Paradise Pvt. Ltd., Coimbatore

In the result, appeal filed by the revenue is dismissed

ITA 1106/CHNY/2023[2017-18]Status: DisposedITAT Chennai21 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 1106/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. Dar Paradise Pvt. Ltd., Income Tax, V. 599, Raja Street, Corporate Circle -1, Coimbatore – 641 001. Coimbatore. [Pan: Aafcd-3066-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. R. Clement Ramesh Kumar, Cit ""यथ" क" ओर से/Respondent By : Shri. N. Arjun Raj, Ca सुनवाई क" तारीख/Date Of Hearing : 05.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.03.2024

For Appellant: Shri. R. Clement Ramesh Kumar, CITFor Respondent: Shri. N. Arjun Raj, CA

Section 115JSection 131Section 133(6)Section 142(1)

…n effected and goods delivered to them. The delivery of goods have been reflected in the stock register. When trade advances are converted into sales, the provisions of section 68 cannot be invoked - CIT vs Devi Prasad Vishwnath Prasad (Supreme Court) ( 1969) 72 ITR 194. Reliance is further placed on the decision of Hon'ble Rajasthan High Court in the case of Smt. Harshila Chordia Vs. ITO 298 ITR 349 in which it was held that addition u/s.68 could not be made in respect of the amount which was found to be cash received from the customers against which delivery of goods was made to them. The provisions of sec.68 c…

Dr. C Usha, Palakkad vs. ITO Ward-3, Palakkad

In the result, the assessee’s appeal is partly allowed and partly allowed for statistical purposes

ITA 657/COCH/2022[2013-2014]Status: DisposedITAT Cochin15 Mar 2024AY 2013-2014

Bench: Shri Sanjay Arora & Dr. Seethalakshmidr. C. Usha Income Tax Officer Modern Hospital Ward -3, Palakkad Guruvayur Road, Koottanad Vs. Palakkad 679533 [Pan:Aafpu8363H] (Appellant) (Respondent)

For Appellant: Shri K.V. Venkitaraman, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 143(3)

…ee. The law in the matter is trite, for which one may refer to CIT v. Joseph John [1968] 67 ITR 74 (SC); Kalekhan Mohammed Hanif (Seth) v. CIT [1963] 50 ITR 1(SC); CIT v. Ganapathi Mudaliar(M.) [1964] 53 ITR 623 (SC); CIT v. Deviprasad Vishwanathprasad [1969] 72 ITR 194 (SC) 6 Dr. C. UshaModern Hospital v. Income Tax Officer In Sum 4. The assessee admittedly not maintaining any record, or otherwise leading any evidence in respect of agricultural income, returned on estimate basis, the Revenue, on verification of the conduct of agricultural operations, estimated it at a lower sum which, on confirmation in first a…

Digambar Rajaram Lonari, Mudhol, Bagalkot vs. Assistant Commissioner of Income Tax, Bijapur

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

ITA 178/BANG/2024[2017-18]Status: DisposedITAT Bangalore28 Feb 2024AY 2017-18

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2017-18

For Appellant: Smt. Preethi S. Patel, AdvocateFor Respondent: Shri Ganesh R. Ghale, Standing Counsel

Section 69A

…gement of Hon’ble Supreme Court in the case of A. Govindrajulu Mudiliar vs CIT, (1958) 34 ITR 807, 810 (SC), Roshan Di Hatti vs. CIT (1977) 107 ITR 938 (SC), Kale khan Mohammad Hanif vs. CIT (1963) 50 ITR 1 ( SC), CIT vs. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 (SC) and Cit vs. M. Ganpathi Mudaliar (1964) 53 ITR 623 (SC), Smt. Shrilekha Banerjee and Others Vs. Cit Bihar & Orissa, reported in 19464 AIR 697, dated 27/03/1963 & completed the assessment and made addition u/s. 69A of Rs.16,63,000 and assessed income at Rs.31,93,840. Against this, the assessee filed appeal before the CIT(Appeals). 3. The CIT(…

Udayan Grover, Mumbai vs. National Faceless Appeal Centre(NFAC), Delhi

In the result, appeal filed by the assessee is allowed

ITA 2880/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Feb 2024AY 2015-16

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleudayan Grover V. National Faceless Appeal Centre Panch Mahal Delhi Panch Sristhi Complex {Acit – 26(3), Bkc, Mumbai} Powai, Mumbai - 400072 Pan: Aclpg0572G (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punmiya Department Represented By : Ms. Kavitha Kaushik

Section 10(38)Section 131Section 133(6)Section 142(1)Section 143(2)Section 57Section 68

…ve the genuineness of unsecured loans. In this regard, reliance is placed on the following decisions: 1. Kalekhan Mohammad Hanif Vs. CIT [1963] 50 ITR 1 (SC) 2. GovindarajuluModaliar Vs. CIT [1958] 34 ITR 807 (SC) 3. CIT Vs. Deviprasad Viswanath Prasad [1969] 72 ITR 194 (SC) In all the above mentioned cases, it is held by Hon’ble Supreme Court that the onus of proving the source of any money received by the assessee lies on the assessee himself. Further, if there is any entry in the books of account of the assessee, it is necessary for the assessee to establish the genuine source of that money and to prove that i…

Muhammed Kutty Kayingil, Malappuaram vs. The ITO, Kozhikode

In the result, the assessee’s appeal is dismissed

ITA 68/COCH/2022[2017-18]Status: DisposedITAT Cochin31 Jan 2024AY 2017-18

Bench: Shri Sanjay Arora & Shri Manomohan Dasmohammed Kutty Kayingil Income Tax Officer Mousufa Nivas (International Taxation) Edappal P.O. Vs. Kozhikode Malappuram 679576 [Pan:Cbxpm7315J] (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 115BSection 143(3)Section 69A

…. This represents trite law, and toward which we may, for the sake of completeness of our order, refer to Kale Khan Mohammad Hanif v. CIT [1963] 50 ITR 1 (SC); CIT v. M. Ganapati Mudaliar [1964] 53 ITR 623 (SC); and CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194 (SC). In fact, it is for this reason that the law provides for it being deemed as income, which is otherwise source-based. 5. In view of the foregoing we find no infirmity, based on the material on record, in the confirmation of the addition for Rs.3.76 lakhs as unexplained cash deposit in assessee’s bank account/s during the year. The same is, i…

Balaji Jewellers, Jaipur vs. ACIT CC -4, Jaipur

In the result, the appeal of the assessee is allowed

ITA 433/JPR/2023[2018-19]Status: DisposedITAT Jaipur04 Jan 2024AY 2018-19

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Shrawan Kumar Gupta, AdvocateFor Respondent: Shri Ajay Malik, CIT

Section 115BSection 132Section 133ASection 139(1)Section 142Section 143(2)Section 143(3)Section 145(3)Section 234ASection 68

…some corroborative material on record through which it can be proved, (a) In similar matter Honourable Supreme court has propounded in the matter of; Commissioner Of Income-Tax, ...vs Devi Prasad Vishwanath Prasad on 1 August, 1968 Equivalent citations: 1969 72 ITR 194 SC “9. The High Court, in disposing of the application under section 66(2), expressed the view that because the amount of Rs. 20,000 was entered in the books of account of the business, there was some material to hold that the amount was income of the assessee from the business and not from some other source. But it was not open to the High Court…

ITO Ward - 14(1), New Delhi vs. Kaka Services Pvt Ltd, New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5525/DEL/2019[2013-14]Status: DisposedITAT Delhi22 Dec 2023AY 2013-14

Bench: The Ld.

Section 143(1)Section 143(3)Section 14ASection 56(2)(viib)Section 68

…: • Kale Khan Mohammad Hanif Vs CIT (1963) 50 ITR1(SC). • CIT Vs Lachman Dass Oswal (1980) 126 ITR 446(P&H). • Nanak Chandra Laxman Dass Vs. CIT (1982) 140 ITR 151(AII). • R Dalmia Vs. CIT (1976) 113 ITR 522(Del). • CIT Vs Devi Prasad Vishwanath Prasad (1968) 72 ITR 194(SC). 5.4 It has been held in the following judicial citations that when the assessee company fails to discharge its onus, the A.O. is within his legitimate right to make an addition: • CIT Vs Hero Cycles Pvt. Ltd. & Others (1997) 228 ITR 463(SC). • CIT VS Stepwell Industries Ltd. & Others (1997) 228 ITR 171(SC). • Sumati Dayal Vs CIT (1995) 214 I…

Rukmani Jewellers Private Limited, Jaipur vs. DCIT Cir.-4 Jaipur, Jaipur

In the result, the appeal of the assessee is allowed

ITA 539/JPR/2023[2017-18]Status: DisposedITAT Jaipur20 Dec 2023AY 2017-18

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

For Appellant: Shri Shrawan Kumar Gupta (Adv.)For Respondent: Shri A. S. Nehra (Addl. CIT) a

Section 115BSection 143(2)Section 143(3)Section 145(3)Section 234ASection 68