Ramanlal Vithaldas & Co., Mumbai vs. Asst CIT 14(1), Mumbai
In the result, appeal of the assessee is allowed
ITA 7388/MUM/2012[2006-07]Status: DisposedITAT Mumbai12 May 2017AY 2006-07
Bench: Shri D.T. Garasia & Shri Rajesh Kumarassessment Year: 2006-07 M/S. Ramanlal Vithaldas & Co., Asst. Commissioner Of Income 333, Shaikh Memon Street, Tax, 14(1), 2Nd Floor, Earnest House, Corner Of Mirchi Galli, Vs. Near Jumma Masjid, Nariman Point, Mumbai – 400 002 Mumbai - 400021 Pan: Aaafr1209F (Appellant) (Respondent) Present For: Assessee By : Shri Nitesh Joshi, A.R. Revenue By : Shri Purushottam Kumar, D.R. Date Of Hearing : 09.03.2017 Date Of Pronouncement : 12.05.2017 O R D E R
For Appellant: Shri Nitesh Joshi, A.RFor Respondent: Shri Purushottam Kumar, D.R
Section 271(1)(c)Section 36(1)(iii)Section 68
…race the parties were nonexistent or that these were cash credits. It is not a case where the loans were bogus. The Ld. A.R. has relied upon the following judgments: 1. National Textile 249 ITR 125 (Guj.) 2. Bhogilal Virchand 127 ITR 591 (Bom.) 3. Sikri & Co. 106 ITR 682 (Kol.) 3. The Ld. D.R. relied upon the Revenue Authorities. 4. We have heard the rival contentions of both the parties. In the instant case we have gone through the order of miscellaneous application and in the miscellaneous application it was stated by the assessee that they have filed the 3 M/s. Ramanlal Vithaldas & Co. affidavit regarding th…
