CIT v. Indeo Airways Pvt. Ltd.

349 ITR 85High Court2012#937 most cited

What is CIT v. Indeo Airways Pvt. Ltd. authority for?

If revenue relies on entries of receipts in seized material, the corresponding expenditure must also be considered unless there is concrete evidence to disregard it. If documents found during a search are considered true and belong to the assessee, entries of expenditure recorded therein are also to be believed.

114

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Indeo Airways · section 132(4) · seized material · reliance on receipts · corresponding expenditure · cash found during search · presumption u/s 132(4A) · section 292C

Sections most often in play

Section 132Section 132(4)Section 292CSection 69CSection 37(1)Section 143(3)Section 153ASection 69A
Read the full judgment

Issues it is cited on

section 132(1)(a)illegal paymentsection 153(a)(1)section 65b(4)cash found during searchsection 65bsection 65explanation to section 37peak credit theorysection 114section 292csection 132(4a)

Judgments citing CIT v. Indeo Airways Pvt. Ltd.

ACIT., Central Circle-2(3), Hyderabad vs. Skandhanshi Infra Projects India Pvt. Ltd., Bangalore

In the result, all the appeals filed by the different Assessee’s are allowed

ITA 310/HYD/2025[2021-22]Status: DisposedITAT Hyderabad20 Aug 2025AY 2021-22

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD “B” BENCH: HYDERABAD BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MANJUNATHA G, ACCOUNTANT MEMBER Sl. Appealed No. I.T.A.No. Name of Name of against the Appellant Respondent A.Y. Order of the CIT(A)-12, Hyderabad Dated Skanda Infra 26.12.2024 514/Hyd./2025 1. 2019-20 The ACIT, Projects India 26.12.2024 2020-21 2. 515/Hyd./2025 Private Central Circle- 06.01.2025 Limited, 516/Hyd./2025 2021-22 3. 2(3), KURNOOL. PIN – 518 002 26.12.2024 2022-23 HYDERABAD. 4. 517/Hyd./2025 Andhra PIN – 500 004 Pradesh PAN AAOCS8382G Skandhanshi The ACIT, 26.12.2024 2019-20 5. 518/…

ACIT., Central Circle-2(3), Hyderabad vs. Skandhanshi Infra Projects India Pvt. Ltd., Bangalore

In the result, all the appeals filed by the different Assessee’s are allowed

ITA 308/HYD/2025[2019-20]Status: DisposedITAT Hyderabad20 Aug 2025AY 2019-20

Bench: Shri Vijay Pal Rao & Shri Manjunatha G

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD “B” BENCH: HYDERABAD BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MANJUNATHA G, ACCOUNTANT MEMBER Sl. Appealed No. I.T.A.No. Name of Name of against the Appellant Respondent A.Y. Order of the CIT(A)-12, Hyderabad Dated Skanda Infra 26.12.2024 514/Hyd./2025 1. 2019-20 The ACIT, Projects India 26.12.2024 2020-21 2. 515/Hyd./2025 Private Central Circle- 06.01.2025 Limited, 516/Hyd./2025 2021-22 3. 2(3), KURNOOL. PIN – 518 002 26.12.2024 2022-23 HYDERABAD. 4. 517/Hyd./2025 Andhra PIN – 500 004 Pradesh PAN AAOCS8382G Skandhanshi The ACIT, 26.12.2024 2019-20 5. 518/…

DCIT Central Circle-8(1), Mumbai vs. Shivshankar Ramswaroop Sharma, Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 2730/MUM/2025[2014-15]Status: DisposedITAT Mumbai08 Aug 2025AY 2014-15

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

Shri Shiv Shankar Sharma, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 4(3), Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 2682/MUM/2025[2013-14]Status: DisposedITAT Mumbai08 Aug 2025AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

Shiv Shankar Sharma, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 4(3), Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 2162/MUM/2025[2019-20]Status: DisposedITAT Mumbai08 Aug 2025AY 2019-20

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

Shiv Shankar Sharma, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle 4(3), Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 2161/MUM/2025[2018-19]Status: DisposedITAT Mumbai08 Aug 2025AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

DCIT, Central Circle - 8 (1), Mumbai vs. Shiv Shankar Sharma, Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 1690/MUM/2025[2021-22]Status: DisposedITAT Mumbai08 Aug 2025AY 2021-22

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

DCIT, Central Circle-8(1), Mumbai vs. Shiv Shankar Sharma, Mumbai

In the result, all the appeals filed by the revenue are dismissed and the assessee’s appeals are partly allowed

ITA 1689/MUM/2025[2020-21]Status: DisposedITAT Mumbai08 Aug 2025AY 2020-21

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 132Section 132(4)Section 143(3)

…nd expenditure components, the Revenue cannot selectively rely upon only the income side while ignoring the expenditure entries. This principle has been judicially affirmed by the Hon‘ble Delhi High Court in the case of CIT vs. Indeo Airways Pvt. Ltd. [(2013) 349 ITR 85 (Del)], where it was held that once reliance is placed on a document, the entirety of its contents must be considered in a holistic manner. 45.1. In the present case, it is undisputed that the assessee has carried out business operations involving cash receipts as well as cash outflows directly linked to such receipts. In such a scenario, it woul…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 292/CHNY/2025[2022-23]Status: DisposedITAT Chennai27 Jun 2025AY 2022-23

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 291/CHNY/2025[2021-22]Status: DisposedITAT Chennai27 Jun 2025AY 2021-22

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 290/CHNY/2025[2020-21]Status: DisposedITAT Chennai27 Jun 2025AY 2020-21

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 289/CHNY/2025[2017-18]Status: DisposedITAT Chennai27 Jun 2025AY 2017-18

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 288/CHNY/2025[2016-17]Status: DisposedITAT Chennai27 Jun 2025AY 2016-17

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Deputy Commissioner of Income Tax, Chennai vs. Saravana Stores Tex, Chennai

The appeals of the assessee stand partly allowed

ITA 287/CHNY/2025[2015-16]Status: DisposedITAT Chennai27 Jun 2025AY 2015-16

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-192), Chennai

The appeals of the assessee stand partly allowed

ITA 3250/CHNY/2024[2022-23]Status: DisposedITAT Chennai27 Jun 2025AY 2022-23

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-1(2), Chennai

The appeals of the assessee stand partly allowed

ITA 3249/CHNY/2024[2021-22]Status: DisposedITAT Chennai27 Jun 2025AY 2021-22

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-1(2), Chennai

The appeals of the assessee stand partly allowed

ITA 3248/CHNY/2024[2020-21]Status: DisposedITAT Chennai27 Jun 2025AY 2020-21

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-192), Chennai

The appeals of the assessee stand partly allowed

ITA 3247/CHNY/2024[2019-20]Status: DisposedITAT Chennai27 Jun 2025AY 2019-20

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-1(2), Chennai

The appeals of the assessee stand partly allowed

ITA 3246/CHNY/2024[2018-19]Status: DisposedITAT Chennai27 Jun 2025AY 2018-19

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…

Saravana Stores Tex, Chennai vs. DCIT, Central Circle-1(2), Chennai

The appeals of the assessee stand partly allowed

ITA 3245/CHNY/2024[2017-18]Status: DisposedITAT Chennai27 Jun 2025AY 2017-18

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं. / Ita No.3243/Chny/2024 (िनधा'रण वष' / Assessment Year: 2015-16) & 2. आयकरअपील सं. / Ita No.3244/Chny/2024 (िनधा'रण वष' / Assessment Year: 2016-17) & 3. आयकरअपील सं. / Ita No.3245/Chny/2024 (िनधा'रण वष' / Assessment Year: 2017-18) & 4. आयकरअपील सं. / Ita No.3246/Chny/2024 (िनधा'रण वष' / Assessment Year: 2018-19) & 5. आयकरअपील सं. / Ita No.3247/Chny/2024 (िनधा'रण वष' / Assessment Year: 2019-20) & 6. आयकरअपील सं. / Ita No.3248/Chny/2024 (िनधा'रण वष' / Assessment Year: 2020-21) & 7. आयकरअपील सं. / Ita No.3249/Chny/2024 (िनधा'रण वष' / Assessment Year: 2021-22) & 8.आयकरअपील सं. / Ita No.3250/Chny/2024 (िनधा'रण वष' / Assessment Year: 2022-23) M/S Saravana Stores Tex Dcit बनाम/ # 42-45, Ranganathan Street, Central Circle-1(2), Vs. T. Nagar, Chennai-600 017. Chennai.

For Appellant: Shri V. Nagaprasad (Advocate)- Ld.ARFor Respondent: Shri Shiva Srinivas (CIT) - Ld. DR
Section 132Section 147Section 4

…d and accepted as a whole and it is not permissible to pick and choose or make further estimates therefrom unless there is cogent material in support of undertaking such an exercise. Similarly, Hon’ble High Court of Delhi in the case of Indeo Airways P. Ltd. (26 Taxmann.com 244) held that whether once a presumption had been drawn as to that the contents of the documents as recovered during search were true, revenue could not have, consistently with that presumption, proceeded to require the assessee to produce material in support of expenditure entries contained in very same document. Similarly, in D.D. Gears Ltd…