CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd. v. CIT & EPT

34 ITR 888Supreme Court of India1958#11563 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2025.

Sections most often in play

Section 143(3)Section 69A

Issues it is cited on

section 5(2)(b)section 5(2)share capital and share premiumsource of sourcecreditworthiness of the creditorsection 250(4)borrowed satisfactionadmission of additional evidenceshare application moneytangible materialrule 46anon-resident

Judgments citing CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd. v. CIT & EPT

SENNIAPPAN KARUPPANA GOUNDER,NAMAKKAL vs. ITO WARD 2, THIRUCHENGODU

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 1464/CHNY/2024[2017-18]Status: DisposedITAT Chennai24 Feb 2025AY 2017-18

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita No.1464/Chny/2024 (िनधा"रणवष" / Assessment Year: 2017-2018) Senniappan Karuppana Vs. The Income Tax Officer, Gounder, Ward 2, No.22, Pallipalayam Village, Tiruchengode. Kandipudur, Thiruchengodu Taluk, Namakkal Dist 638 006. [Pan: Amypk 7871R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. Raghav Rejeev Menon, Advocate ""यथ" क" ओर से /Respondent By : Shri. R. Bhoopathi, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 03.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 24.02.2025 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. Raghav Rejeev Menon, AdvocateFor Respondent: Shri. R. Bhoopathi, Addl. CIT
Section 143(3)Section 69A

…o put on blinkers while looking at the documents produced before them. Assessing Officer is entitled to look into the surrounding circumstances to find out the reality of the recitals made in those documents. In Jiyajirao Cotton Mills Ltd Vs. CIT & EPT (1958) 34 ITR 888 the Supreme Court has observed that the arrangement of transaction must be real and genuine and not a sham or make- believe. The explanation that numerous cash withdrawals from earlier 8 years were accumulated and kept in hand was clearly an afterthought. Hence this explanation is not acceptable and addition of Rs.45,00,000 is hereby confirmed. As…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA AVENUES PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

ITA 1107/HYD/2017[2011-12]Status: DisposedITAT Hyderabad12 Jun 2023AY 2011-12

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Jeevan Lal Lavidiya, CIT(DR)
Section 143(2)Section 56

…aced on the decision of Hon'ble Supreme Court in the case of Durga Prasad More (1971] 82 ITR 540 (SC) and Sumati Dayal [1995] 214 ITR 801 (SC). Reliance is also placed on the decision of Hon'ble Supreme Court in the case of Jijayjeerao Cotton Mills Ltd [1958] 34 ITR 888 (SC) wherein it was held that "Every person is entitled so to arrange his affairs as to avoid taxation but the arrangement must be real and genuine and not a sham or make-believe". 6. Reliance is also placed on the decision of Hon'ble ITAT, Delhi Bench in the case of B.S. Infosolution Ltd (Decision dated 23/08/2018 in ITAT No: 2989/DEL/2016), wher…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD vs. ALPHA VILLAS PRIVATE LIMITED, HYDERABAD

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

ITA 1106/HYD/2017[2011-12]Status: DisposedITAT Hyderabad12 Jun 2023AY 2011-12

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Jeevan Lal Lavidiya, CIT(DR)
Section 143(2)Section 56

…aced on the decision of Hon'ble Supreme Court in the case of Durga Prasad More (1971] 82 ITR 540 (SC) and Sumati Dayal [1995] 214 ITR 801 (SC). Reliance is also placed on the decision of Hon'ble Supreme Court in the case of Jijayjeerao Cotton Mills Ltd [1958] 34 ITR 888 (SC) wherein it was held that "Every person is entitled so to arrange his affairs as to avoid taxation but the arrangement must be real and genuine and not a sham or make-believe". 6. Reliance is also placed on the decision of Hon'ble ITAT, Delhi Bench in the case of B.S. Infosolution Ltd (Decision dated 23/08/2018 in ITAT No: 2989/DEL/2016), wher…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S SNOWSHINE REALTORS PVT.LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1443/BANG/2018[2008-09]Status: DisposedITAT Bangalore28 Oct 2022AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…) CIT V. United Commercial and Industrial Co (P) Ltd (1991) 187 ITR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1442/BANG/2018[2012-13]Status: DisposedITAT Bangalore28 Oct 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…) CIT V. United Commercial and Industrial Co (P) Ltd (1991) 187 ITR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1-(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD., BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1441/BANG/2018[2009-10]Status: DisposedITAT Bangalore28 Oct 2022AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…) CIT V. United Commercial and Industrial Co (P) Ltd (1991) 187 ITR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103…

BLACKSTONE FP CAPITAL PARTNERS MAURITIUS V LTD.,MAURITIUS vs. DY CIT (INTERNATIONAL TAXATION) CIRCLE-1(2)(2), MUMBAI

In the result, the appeals are allowed for statistical purposes in the terms indicated above

ITA 981/MUM/2021[2016-17]Status: FixedITAT Mumbai17 May 2022AY 2016-17
Section 143(3)Section 154

…corporate veil”. The Assessing Officer then elaborately discussed the law laid down by Hon‟ble Supreme Court in the case of McDowell & Co Ltd Vs CTO [(1985) 154 ITR 148 (SC)] and referred to certain other decisions, namely- Jiyajeerao Cotton Mills Ltd Vs CIT (34 ITR 888), by Hon‟ble Bombay High Court in the case of Navantara G Agarwal Vs CIT [(1994) 207 ITR 639 (Bom)] and CIT Vs Akshav Textile Trading Agencies Ltd [(2007) 304 ITR 401 (Bom)]. The Assessing Officer thus concluded that by applying the principles emerging out of these judicial precedents, it is clear that the assessee company is a wholly owned subsid…

BLACKSTONE FP CAPITAL PARTNERS MAURITIUS V LTD.,MAURITIUS vs. DCIT INTL TAX CIR.1(2) , MUMBAI

In the result, the appeals are allowed for statistical purposes in the terms indicated above

ITA 1725/MUM/2021[2016-17]Status: FixedITAT Mumbai17 May 2022AY 2016-17
Section 143(3)Section 154

…corporate veil”. The Assessing Officer then elaborately discussed the law laid down by Hon‟ble Supreme Court in the case of McDowell & Co Ltd Vs CTO [(1985) 154 ITR 148 (SC)] and referred to certain other decisions, namely- Jiyajeerao Cotton Mills Ltd Vs CIT (34 ITR 888), by Hon‟ble Bombay High Court in the case of Navantara G Agarwal Vs CIT [(1994) 207 ITR 639 (Bom)] and CIT Vs Akshav Textile Trading Agencies Ltd [(2007) 304 ITR 401 (Bom)]. The Assessing Officer thus concluded that by applying the principles emerging out of these judicial precedents, it is clear that the assessee company is a wholly owned subsid…

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

ITTA/577/2011HC Telangana28 Feb 2012

…er:- “3. On 25.04.2017, when the matter was argued, we were of the opinion that the issue is covered by the decision of Supreme Court in the case of Jiyajeerao Cotton Mills. Ltd. vs. Commissioner of Income tax and Excess Profits Tax Bombay (1958) 34 ITR 888 (SC) wherein it has been held as under:- 10. It was next contended that if there had been transfer of profits by Jwaladutt Kishanprasad from Cotton Agents Ltd., to J. R. Pillani, Gwalior, that must appear in the accounts of the latter, that those accounts were with the Income-tax Commissioner and under the control of the Department and…

CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd. v. CIT & EPT (34 ITR 888) — Cited in 9 Judgments | BharatTax