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- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1469/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1467/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1466/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1465/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Sept 2018AY 2010-11

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1464/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1190/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1189/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Sept 2018AY 2010-11

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1186/DEL/2018[2013-14]Status: DisposedITAT Delhi06 Sept 2018AY 2013-14

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1185/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1182/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1181/DEL/2018[2015-16]Status: DisposedITAT Delhi06 Sept 2018AY 2015-16

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1180/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…f the assessee, entries of expenditure recorded therein are also to be believed, without asking for more evidences for such expenditure. He vehemently relied upon the decision of the Hon’ble Delhi High Court in case of CIT versus Indeo Airways private limited 349 ITR 85 (Delhi). He vehemently referred to para number 14, 16 and 17 of the decision to support his claim. xiv. With respect to the expenditure, he submitted that it is not the case of the ld AO / CIT (A) to state that such expenses are otherwise not allowable to the assessee. The only reason given is the incompleteness of the seized documents as well as…

Gem Super Structure P. Ltd vs. DCIT

In the result, the appeal of the assessee is partly allowed in the

ITA 15/BANG/2014[1996-97]Status: DisposedITAT Bangalore03 Nov 2016AY 1996-97

Bench: Shri A. K. Garodia & Smt. Asha Vijayaraghavanit A No.15(Bang) 2014 (Assessment Year : 196-97) M/S Gem Superstructures Pvt. Ltd., No.120, Hoodi Apartments, Ground Floor, Peenya Industrial Area, Cunningham Road, Bangalore -560 052 Pan No.Aaacg5031E Appellant Vs The Deputy Commissioner Of Income Tax, Circle-11(3), Bangalore Respondent & Ita No.1766(Bang/2013 (Assessment Year : 1996-97) (By Revenue)

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Shri T.N.Prakash, Addl.CIT
Section 153Section 250Section 260A

…to have been allowed under the facts and circumstances of the case. 4.The learned Commissioner of Income-tax (Appeals) failed to appreciate that decision of the Delhi High Court in the case of Commissioner of Income Tax vs. Indeo Airways Pvt Ltd. reported in 349 ITR 85 (Delhi) applies to the Appellant's case and consequently passed a perverse order. 5. Without prejudice to the right to seek waiver with the 4 ITA Nos.15(B)/14 & 1766(B)13 Learned Chief Commissioner of Income Tax/Director General of Income Tax under the provisions of the Act and as confirmed by the CBDT Circular No. 400/234/95-IT (B) dated 23/05/…

DCIT, Bangalore vs. M/S Shipara Technologies Limited, New Delhi

In the result, the appeal of the assessee is partly allowed in the

ITA 591/BANG/2012[2005-06]Status: DisposedITAT Bangalore03 Nov 2016AY 2005-06

Bench: Shri A. K. Garodia & Smt. Asha Vijayaraghavanit A No.15(Bang) 2014 (Assessment Year : 196-97) M/S Gem Superstructures Pvt. Ltd., No.120, Hoodi Apartments, Ground Floor, Peenya Industrial Area, Cunningham Road, Bangalore -560 052 Pan No.Aaacg5031E Appellant Vs The Deputy Commissioner Of Income Tax, Circle-11(3), Bangalore Respondent & Ita No.1766(Bang/2013 (Assessment Year : 1996-97) (By Revenue)

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Shri T.N.Prakash, Addl.CIT
Section 153Section 250Section 260A

…to have been allowed under the facts and circumstances of the case. 4.The learned Commissioner of Income-tax (Appeals) failed to appreciate that decision of the Delhi High Court in the case of Commissioner of Income Tax vs. Indeo Airways Pvt Ltd. reported in 349 ITR 85 (Delhi) applies to the Appellant's case and consequently passed a perverse order. 5. Without prejudice to the right to seek waiver with the 4 ITA Nos.15(B)/14 & 1766(B)13 Learned Chief Commissioner of Income Tax/Director General of Income Tax under the provisions of the Act and as confirmed by the CBDT Circular No. 400/234/95-IT (B) dated 23/05/…