CIT v. GP International Ltd.

325 ITR 25High Court2010#2598 most cited

What is CIT v. GP International Ltd. authority for?

An addition under Section 68 for cash credits or unexplained share capital cannot be sustained if the assessee substantiates identity and genuineness of transactions, even with partial confirmations from Section 133(6) enquiries. Further, Section 41(1) applies only when a trading liability ceases or is written off, not merely due to lack of creditor confirmation while the liability remains in the books.

45

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. GP International Ltd. · 325 ITR 25 · Section 68 cash credits · unexplained share capital · Section 133(6) enquiry · genuineness of transaction · creditworthiness proof · Section 41(1) cessation of liability · liability written off · confirmation not filed

Sections most often in play

Section 133(6)Section 143(3)Section 147Section 37(1)Section 132(4)Section 69ASection 68Section 131

Issues it is cited on

gaarsection 239section 65(b)section 181section 80ia(4)(iii)section 194qsection 293section 8oremission or cessation of liabilitysection 193section 65b(4)section 36(l)(iii)

Judgments citing CIT v. GP International Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

ITA 7842/DEL/2025[2022-23]Status: DisposedITAT Delhi20 Mar 2026AY 2022-23

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

For Appellant: Shri Amit Goel and Shri Pranav Yadav, Advocate
Section 132Section 143(3)Section 147Section 37Section 37(1)Section 69A

…(Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd “Regarding the addition of Rs. 15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied t…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

ITA 7841/DEL/2025[2021-22]Status: DisposedITAT Delhi20 Mar 2026AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 132Section 133(6)Section 143(3)Section 147Section 37Section 37(1)Section 69A

…Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained ITA No. 618 of 2009 -4- information, s…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

ITA 7840/DEL/2025[2020-21]Status: DisposedITAT Delhi20 Mar 2026AY 2020-21

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

For Appellant: Shri Amit Goel and Shri Pranav Yadav, Advocate
Section 132Section 143(3)Section 147Section 37Section 37(1)Section 69A

…(Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd “Regarding the addition of Rs. 15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied t…

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S VESTIGE MARKETING PRIVATE LIMITED, DELHI

ITA 7838/DEL/2025[2018-19]Status: DisposedITAT Delhi20 Mar 2026AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

For Appellant: Shri Amit Goel andFor Respondent: Ms. Monika Singh, CIT-DR
Section 132Section 133(6)Section 143(3)Section 147Section 37Section 37(1)Section 69A

…Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained ITA No. 618 of 2009 -4- information, s…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT CENTRAL CIRCLE -05 , DELHI

ITA 5521/DEL/2025[2024-25]Status: DisposedITAT Delhi20 Mar 2026AY 2024-25

Bench: Shri Before Shri Satbeer Singh Godarabefore Shri Before Shri Satbeer Singh Godarasatbeer Singh Godara & Satbeer Singh Godara & And & Shri Naveen Chandra Shri Naveen Chandra, , , Shri Naveen Chandra Shri Naveen Chandra

For Appellant: Shri Amit Goel and Shri Pranav Yadav, Advocate
Section 132Section 143(3)Section 147Section 37Section 37(1)Section 69A

…(Del) CIT v. Oasis Hospitalities (P) Ltd. vii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO viii) 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P 325 ITR 25 (P&H) CIT vs. GP International Ltd 325 ITR 25 (P 325 ITR 25 (P &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd &H) CIT vs. GP International Ltd “Regarding the addition of Rs. 15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied t…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

ITA 5520/DEL/2025[2023-24]Status: DisposedITAT Delhi20 Mar 2026AY 2023-24

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 132Section 133(6)Section 143(3)Section 147Section 37Section 37(1)Section 69A

…Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained ITA No. 618 of 2009 -4- information, s…

VESTIGE MARKETING PVT LTD,DELHI vs. DCIT, CENTRAL CIRCLE-05, DELHI

ITA 5517/DEL/2025[2020-21]Status: DisposedITAT Delhi20 Mar 2026AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

Section 132Section 133(6)Section 143(3)Section 147Section 37Section 37(1)Section 69A

…Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained ITA No. 618 of 2009 -4- information, s…

VESTIGE MARKETING PVT. LTD.,DELHI vs. DCIT, CENTRAL CIRCLE- 05, DELHI

ITA 5515/DEL/2025[2018-19]Status: DisposedITAT Delhi20 Mar 2026AY 2018-19

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

For Appellant: Shri Amit Goel andFor Respondent: Ms. Monika Singh, CIT-DR
Section 132Section 133(6)Section 143(3)Section 147Section 37Section 37(1)Section 69A

…Services (P) Ltd. v) 329 ITR 271 (Del) CIT v. Victor Electrodes Ltd. vi) 333 ITR 119 (Del) CIT v. Oasis Hospitalities (P) Ltd. vii) viii) 354 ITR 282 (Del) Mod Creations (P) Ltd. v. ITO 357 ITR 146 (Del) CIT v. Fair Finvest Ltd. PUNJAB & HARYANA HIGH COURT i) 325 ITR 25 (P&H) CIT vs. GP International Ltd "Regarding the addition of Rs.15,00,000/- on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom the shares were sold. The said list contained ITA No. 618 of 2009 -4- information, s…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, BHAVNAGAR, BHAVNAGAR vs. RUDRA GLOBAL INFRA PRODUCTS LIMITED, BHAVNAGAR

In the result, the appeal of the Revenue as well as the Cross-Objection filed by the assessee, both are dismissed

ITA 1163/AHD/2025[2022-23]Status: DisposedITAT Ahmedabad19 Jan 2026AY 2022-23

Bench: Dr. B.R.R. Kumar, Vice-Shri Siddhartha Nautiyal

Section 133(6)Section 143(1)Section 143(2)Section 250

…be sustained, more so, when the AO is not doubting the identity of the lender and genuineness of the transaction. I am fortified in this regard by Commissioner of Income-tax, Faridabad V. GP International Ltd. [2010] 186 Taxman 229 (Punjab & Haryana)/ [2010] 325 ITR 25 (Punjab & Haryana)/[2010] 229 CTR 86 (Punjab & Haryana)[02-12-2009], where law was explained in the following terms: “3. Regarding the addition of Rs. 15,00,000 on account of unexplained share capital, it has been held that at the time of the original assessment, the assessee had supplied the list of the persons along with their addresses to whom…

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. KONARK RAJHANS ESTATE PRIVATE LIMITED, PANCHKULA

In the result, the appeal of the revenue stands dismissed

ITA 805/CHANDI/2024[2011-12]Status: DisposedITAT Chandigarh13 Nov 2025AY 2011-12

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./ Ita No. 805/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2011-12 Acit M/S Konark Rajhans Estate Private Limited Panchkula Circle बनाम/ Vs. Nh 73, Village Kot Extension-Ii, Sector 14, Panchkula. Panchkula. "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aaeck-2405-Q (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Manav Bansal (Cit) – Ld. Dr ""थ"कीओरसे/Respondent By : Sh. Parikshit Aggarwal (Ca)-Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 20-08-2025 घोषणाकीतारीख /Date Of Pronouncement : 13/11/2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Appeal By The Revenue For Assessment Year (Ay) 2011- 12 Arises Out Of An Order Of Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Cit(A)] Dated 27-05-2024 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S. 143(3) R.W.S. 147 Of The Act On 29-12-2018. The Revenue Is Aggrieved By Deletion Of Twin Quantum Additions Of Rs.40.85 Lacs & Rs.707.75 Lacs As Made By Ld. Ao In The Assessment Order. The Grounds Of Appeal Read As Under: -

For Appellant: Sh. Manav Bansal (CIT) – Ld. DRFor Respondent: Sh. Parikshit Aggarwal (CA)-Ld. AR
Section 131oSection 143(3)Section 148Section 40A(3)Section 68Section 68o

…nsactions and only doubted the creditworthiness of RPIPL. The creditworthiness stood substantiated by audited accounts. Reliance was placed on various judicial decisions including the decision of jurisdictional High Court in the case of GP International Ltd. (325 ITR 25) wherein addition u/s 68 was deleted on similar facts. The Ld. CIT(A) concurred that director of RPIPL acknowledged business relation and confirmed the aforesaid loan. The loan was sourced from advances received by RPIPL from its customers who were interested to buy flats in approved projects. However, after joining hands with RPIPL, the plan of d…

DINESH PAPOO MELWANI ,BANGALORE vs. INCOME TAX OFFICER, WARD-1(2)(3), BANGALORE

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

ITA 1219/BANG/2024[2017-18]Status: DisposedITAT Bangalore08 Oct 2025AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Year: 2017-18

For Appellant: Shri K.R Pradeep, AdvocateFor Respondent: Shri Balusamy N, JCIT (DR)
Section 143(2)Section 68

…argued that the liability was never written off in the books of accounts, and hence provisions of section 41(1) were not applicable. Reliance was placed on the judgment of the Hon’ble Punjab and Haryana High Court in the case of CIT v. GP International Ltd., 325 ITR 25. The Authorised Representative prayed for remand of the issue. . Page 7 of 8 12. On the other hand, the ld. Departmental Representative did not object to the matter being set aside to the file of the Assessing Officer for fresh verification. 13. We have considered the submissions. The addition was made only because no confirmation was filed. It…

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

ITA 252/NAG/2018[2012-13]Status: DisposedITAT Nagpur06 Dec 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 131Section 143(2)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.252/Nag./2018 (Assessment Year : 2012–13) Dy. Commissioner of Income Tax ……………. Appellant Circle–2, Nagpur v/s M/s. N. Kumar Construction Co. Pvt. Ltd. 7th Floor, Poonam Plaza, Palm Road ……………. Respondent Civil Lines, Nagpur 440 001 AABCN9937H Appellant by : Shri Manoj G. Moryani Revenue by : Shri Vikash Agrawal Date of Hearing – 06/11/2024 Date of Order – 06/12/2024 O R D E R PER K.M. ROY, A.M. The appeal filed by the Revenue is against the impugned order dated 01/…

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

ITA 247/NAG/2018[2010-11]Status: DisposedITAT Nagpur06 Dec 2024AY 2010-11

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikas Agrawal
Section 131Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.247/Nag./2018 (Assessment Year : 2010–11) Dy. Commissioner of Income Tax ……………. Appellant Circle–2, Nagpur v/s M/s. N. Kumar Construction Co. Pvt. Ltd. 7th Floor, Poonam Plaza, Palm Road ……………. Respondent Civil Lines, Nagpur 440 001 AABCN9937H Appellant by : Shri Manoj G. Moryani Revenue by : Shri Vikas Agrawal Date of Hearing – 06/11/2024 Date of Order – 06/12/2024 O R D E R PER K.M. ROY, A.M. This appeal by the Revenue is directed against the impugned order dated…

SAHIL SINGLA,CHANDIGARH vs. ASSTT. COMMISSIONER OF INCOME TAX, CC-2, CHANDIGARH

In the result, appeal of the Assessee is allowed

ITA 1018/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh04 Nov 2024AY 2018-19

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri T.N. Singla, C.AFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 271ASection 68Section 69Section 69A

…ngh during the year, as rightly submitted. 20.5 This apart, the amount of Rs. 40,00,000/- has been returned to Sh. Sanbir Singh on 10.06.2017 during the relevant year itself. 20.6 The Jurisdictional High Court in the case of ‘CIT vs. GP International Ltd.’, 325 ITR 25 (P&H) is directly on the point. No contra decision has been cited before us by the Department. Moreover, in the case of ‘CIT vs. Lovely Exports Pvt. Ltd.’, 216 CTR 195 (SC) it has been held that: "In case lender/creditor is found to be bogus, doubtful then the department may proceed against such lender/creditor as per law." 21. The Department in…

SUBHARTI MEDIA LTD.,MEERUT vs. ACIT, CENTRAL CIRCLE, MEERUT

In the result, appeal of the Revenue is dismissed and the

ITA 1715/DEL/2018[2009-10]Status: DisposedITAT Delhi07 Aug 2024AY 2009-10

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraआ.अ.सं/.I.T.A Nos.2693/Del/2016 िनधा"रणवष"/Assessment Year: 2010-11 बनाम Acit Subharti Media Ltd., Central Circle, Vs. Subhartipuram, Nh-58, Meerut. Delhi Haridwar Byepass Road, Meerut.

Section 131Section 132(1)Section 153CSection 68

…d finance Ltd. (350 ITR 220) (All.); 6. CIT Vs. Mishra Preservers Pvt. Ltd. (350 ITR 222) (All.); 7. CIT Vs. Value Capital Services Pvt. Ltd. (304 ITR 334) (Del.); 8. CIT Vs. AKJ Granites Pvt. Ltd. (301 ITR 298) (Raj.); 9. CIT Vs. G.P. International Ltd. (325 ITR 25) (P&H). The Ld.CIT(A) considering the submissions of the assessee and the evidences placed on record deleted the addition of Rs.2,19,91,020/- made by the AO. 8. Coming to the addition of Rs.2,19,86,960/- the assessee furnished additional evidences before the ld.CIT(A) in terms of Rule I.T.A.Nos.2693/Del/2016 & 1715/Del/2018 46A(1)(b) of the…

ACIT, MEERUT vs. M/S SUBHARTI MEDIA LTD., MEERUT

In the result, appeal of the Revenue is dismissed and the

ITA 2693/DEL/2016[2010-11]Status: DisposedITAT Delhi07 Aug 2024AY 2010-11

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraआ.अ.सं/.I.T.A Nos.2693/Del/2016 िनधा"रणवष"/Assessment Year: 2010-11 बनाम Acit Subharti Media Ltd., Central Circle, Vs. Subhartipuram, Nh-58, Meerut. Delhi Haridwar Byepass Road, Meerut.

Section 131Section 132(1)Section 153CSection 68

…d finance Ltd. (350 ITR 220) (All.); 6. CIT Vs. Mishra Preservers Pvt. Ltd. (350 ITR 222) (All.); 7. CIT Vs. Value Capital Services Pvt. Ltd. (304 ITR 334) (Del.); 8. CIT Vs. AKJ Granites Pvt. Ltd. (301 ITR 298) (Raj.); 9. CIT Vs. G.P. International Ltd. (325 ITR 25) (P&H). The Ld.CIT(A) considering the submissions of the assessee and the evidences placed on record deleted the addition of Rs.2,19,91,020/- made by the AO. 8. Coming to the addition of Rs.2,19,86,960/- the assessee furnished additional evidences before the ld.CIT(A) in terms of Rule I.T.A.Nos.2693/Del/2016 & 1715/Del/2018 46A(1)(b) of the…

DCIT, CIRCLE, PANIPAT vs. PALIWAL OVERSEAS PVT. LTD., PANIPAT

In the result, Revenue’s appeal being ITA No

ITA 644/DEL/2018[2012-13]Status: DisposedITAT Delhi27 Sept 2023AY 2012-13

Bench: Shri Kul Bharat & Shri Pradip Kumar Kediaassessment Year: 2011-12

Section 36

…rd. We find that in appeal before the learned CIT(A) the assessee had relied on the decision of the Hon’ble Delhi High Court as well as the decision of Hon’ble Jurisdictional High Court of Punjab & Haryana in the case of CIT Vs. GP International Ltd. (2010) 325 ITR 25 (P&H). The learned CIT(A) deleted the addition in question, inter alia, by observing as under: “A perusal of the facts of the case reveal that the AO has added the said amount as it has been an outstanding balance for more than three years. If the appellant does not treat the liability to have ceased to exist or opt to write off the same, just be…

ACIT, CIRCLE, PANIPAT vs. PALIWAL OVERSEAS PVT. LTD., PANIPAT

In the result, Revenue’s appeal being ITA No

ITA 2083/DEL/2018[2014-15]Status: DisposedITAT Delhi27 Sept 2023AY 2014-15

Bench: Shri Kul Bharat & Shri Pradip Kumar Kediaassessment Year: 2011-12

Section 36

…rd. We find that in appeal before the learned CIT(A) the assessee had relied on the decision of the Hon’ble Delhi High Court as well as the decision of Hon’ble Jurisdictional High Court of Punjab & Haryana in the case of CIT Vs. GP International Ltd. (2010) 325 ITR 25 (P&H). The learned CIT(A) deleted the addition in question, inter alia, by observing as under: “A perusal of the facts of the case reveal that the AO has added the said amount as it has been an outstanding balance for more than three years. If the appellant does not treat the liability to have ceased to exist or opt to write off the same, just be…

ACIT, CIRCLE, PANIPAT vs. PALIWAL OVERSEAS PVT. LTD., PANIPAT

In the result, Revenue’s appeal being ITA No

ITA 2082/DEL/2018[2010-11]Status: DisposedITAT Delhi27 Sept 2023AY 2010-11

Bench: Shri Kul Bharat & Shri Pradip Kumar Kediaassessment Year: 2011-12

Section 36

…rd. We find that in appeal before the learned CIT(A) the assessee had relied on the decision of the Hon’ble Delhi High Court as well as the decision of Hon’ble Jurisdictional High Court of Punjab & Haryana in the case of CIT Vs. GP International Ltd. (2010) 325 ITR 25 (P&H). The learned CIT(A) deleted the addition in question, inter alia, by observing as under: “A perusal of the facts of the case reveal that the AO has added the said amount as it has been an outstanding balance for more than three years. If the appellant does not treat the liability to have ceased to exist or opt to write off the same, just be…

ACIT, CIRCLE, PANIPAT vs. PALIWAL OVERSEAS P.LTD, PANIPAT

In the result, Revenue’s appeal being ITA No

ITA 1263/DEL/2018[2013-14]Status: DisposedITAT Delhi27 Sept 2023AY 2013-14

Bench: Shri Kul Bharat & Shri Pradip Kumar Kediaassessment Year: 2011-12

Section 36

…rd. We find that in appeal before the learned CIT(A) the assessee had relied on the decision of the Hon’ble Delhi High Court as well as the decision of Hon’ble Jurisdictional High Court of Punjab & Haryana in the case of CIT Vs. GP International Ltd. (2010) 325 ITR 25 (P&H). The learned CIT(A) deleted the addition in question, inter alia, by observing as under: “A perusal of the facts of the case reveal that the AO has added the said amount as it has been an outstanding balance for more than three years. If the appellant does not treat the liability to have ceased to exist or opt to write off the same, just be…

Showing 1–20 of 45 · Page 1 of 3