CIT v. KSM Guruswamy Nadar & Songs

222 ITR 768High Court#19938 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2016 to 2023.

Judgments citing CIT v. KSM Guruswamy Nadar & Songs

Welspun Corp Ltd, Mumbai vs. DCIT Cen Cir 22, Mumbai

In the result, the appeals filed by the revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3890/MUM/2016[2008-09]Status: DisposedITAT Mumbai03 Apr 2023AY 2008-09

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadale

Section 143(3)Section 14ASection 32(1)(iia)

…quently. In the instant case the assessee acquired gold during the latter half of the assessment year and it could be that the undisclosed income earned in that year constituted a fund from which the asset was acquired. iv. CIT V/s. Venkateswara Timber Depot, 222 ITR 768 ITA.No,3890&4364/5063&5483/5165&5043/5166&5044/Mum/2016 M/s. Welspun Corp Ltd, Mumbai. The Appellate Tribunal was justified in law in telescoping the unexplained credits with the estimated addition to the business income towards deficiency in gross profits. v. Karanveer Singh Bawa V/s. ACIT (ITA No.2076, 2077, 2078 and 2080/Mum/2010) vi. Kirit…

Jayant B Patel HUF, Mumbai vs. ACIT CC13, Mumbai

In the result, appeals filed by the revenue are dismissed,

ITA 5547/MUM/2012[2001-02]Status: DisposedITAT Mumbai10 Aug 2016AY 2001-02

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./Ita Nos.5547, 5548, 5553/Mum/2012 & Ita No.7525/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 & 2007­08) Jayant B. Patel Huf, B/27, Vs. Acit, Cc­13, Mumbai Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5455 To 5461/Mum/2012 ("नधा"रण वष" / Assessment Years :2001­02 To 2007­08) Acit, Cc­13, Mumbai Vs. Jayant B. Patel Huf, B/27, Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5549 To 5552, 5554/Mum/2012 &7524/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 2004­05,2006­07 & 2007­08) Jayant B. Patel, B/27, Clifton Vs. Acit, Cc­13, Mumbai Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacpp 6414 H (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Dr. K.Shivaram & Ms. Neelam C. Jadhav राज"व क" ओर से /Revenue By : Shri Alok Johri सुनवाई क" तार"ख / Date Of Hearing : 13/05/2016 घोषणा क" तार"ख/Date Of Pronouncement 10/08/2016

For Appellant: Dr. K.Shivaram &For Respondent: Shri Alok Johri
Section 143(2)Section 143(3)Section 153A

…of S.Kuppuswami Mudaliar, 51 ITR 757, which was approved by the Hon’ble Supreme Court in the case of Anantram Veerasinghiah, 123 ITR 457. Reliance was also placed on the decision of Hon’ble Andhra Pradesh High Court in the case of Venkateswar Timber Depot, 222 ITR 768 and Hon’ble Madras High Court in the case of K.S.M.Guruswamy Nadar & Sons, 149 ITR 127. 14. We had carefully gone through orders of authorities below and also considered the rival contentions. We had also deliberated on the judicial pronouncements cited by ld. DR and AR during the course of hearing before us, in the context of factual matrix of…

A.C.I.T. Cent.Cir.13, Mumbai vs. Jayant B. Patel(HUF), Mumbai

In the result, appeals filed by the revenue are dismissed,

ITA 5455/MUM/2012[2001-02]Status: DisposedITAT Mumbai10 Aug 2016AY 2001-02

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./Ita Nos.5547, 5548, 5553/Mum/2012 & Ita No.7525/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 & 2007­08) Jayant B. Patel Huf, B/27, Vs. Acit, Cc­13, Mumbai Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5455 To 5461/Mum/2012 ("नधा"रण वष" / Assessment Years :2001­02 To 2007­08) Acit, Cc­13, Mumbai Vs. Jayant B. Patel Huf, B/27, Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5549 To 5552, 5554/Mum/2012 &7524/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 2004­05,2006­07 & 2007­08) Jayant B. Patel, B/27, Clifton Vs. Acit, Cc­13, Mumbai Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacpp 6414 H (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Dr. K.Shivaram & Ms. Neelam C. Jadhav राज"व क" ओर से /Revenue By : Shri Alok Johri सुनवाई क" तार"ख / Date Of Hearing : 13/05/2016 घोषणा क" तार"ख/Date Of Pronouncement 10/08/2016

For Appellant: Dr. K.Shivaram &For Respondent: Shri Alok Johri
Section 143(2)Section 143(3)Section 153A

…of S.Kuppuswami Mudaliar, 51 ITR 757, which was approved by the Hon’ble Supreme Court in the case of Anantram Veerasinghiah, 123 ITR 457. Reliance was also placed on the decision of Hon’ble Andhra Pradesh High Court in the case of Venkateswar Timber Depot, 222 ITR 768 and Hon’ble Madras High Court in the case of K.S.M.Guruswamy Nadar & Sons, 149 ITR 127. 14. We had carefully gone through orders of authorities below and also considered the rival contentions. We had also deliberated on the judicial pronouncements cited by ld. DR and AR during the course of hearing before us, in the context of factual matrix of…

ACIT, New Delhi vs. M/S Rama Krishna Jeweller (India), New Delhi

In the result, we confirm the finding of ld

ITA 5417/DEL/2010[2005-06]Status: DisposedITAT Delhi11 May 2016AY 2005-06

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Mrs. Nandita Kanchan, CIT DR
Section 153A

…n following decisions:- a) Arun Kala Vs. ACIT 98 TTJ 1046 (Jp), b) ITO Vs. Republic PoultryFood 45 ITD 359 (Chd), c) Paul Mathews & Sons Vs. CIT 263 ITR 101 (Ker), d) CIT Vs. KSM Guruswamy Nadar & Songs 149 ITR 127 (Mad), e) CIT Vs. Venkateshwara Timber Depot 222 ITR 768 (AP). 17. In the rejoinder she submitted that assessment is governed by evidence found during the course of search and cannot be made based on the statement. She submitted that as necessary evidences have been found during the course of search the addition has required to be made. She further stated that the acquisition of gold bars mentioned in…

CIT v. KSM Guruswamy Nadar & Songs (222 ITR 768) — Cited in 4 Judgments | BharatTax