CIT v. Maulikkumar K. Shah

Shri Ramesh Chandra Parashar, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Pradeep Kumar Sharma, Dabra vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Lalta Prasad Choudhary, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Santosh Kumar Sharma, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Kamlesh Kumar Choudhary, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Khemraj Singh Chauhan, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Sukhdev Singh Dhariwal, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

Shri Sanjay Kumar Sahu, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

The ACIT- 1(1), Bhopal vs. Shri Vinod Vaish, Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

…erial or evidence has been brought on record by the A.O to establish that the notices of jottings of loose sheets or on the paper written on accounted transactions cannot be made”. 50. Hon’ble High Court of Gujarat in the case of CITV/s Maulikumar K Shah 2008 307 ITR 137 wherein it has held that “the additions made by the A.O on the basis of seized paper alone without any corroborative evidence could not be sustained”. 51. Similar view was taken by the Co-ordinate Bench in the case of M.M. Financiers V/s DCIT 2007 107 TTJ 200 (Chennai). 52. There are also certain legal precedent which clarifies that the loose do…

The ITO, Ward-5, Mundra (Kutch) vs. Shri Kotak Mayur Arvindbhai, Mundra (Kutch)

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

…e letter is part of paper book as page no. 270 but no opportunity was given to the appellant. 5 . A.Y. 2007-08 13. In support of its contention, ld. A.R. cited a judgment of Hon’ble Jurisdictional High Court in the matter of CIT vs. Maulikkumar K. Shah (2008) 307 ITR 137 wherein it is held that loose paper without any supporting evidence does not have any evidentiary value and such paper would be merely presumption based on surmises. 14. Ld. A.R. also cited a judgment of Hon’ble High Court in the case of CBI vs. V.C. Shukla & Ors. wherein it is held that “ we are, therefore, of the considered opinion that the Re…

ACIT, Udaipur vs. M/S. Ankit Chirag Developers Pvt. Ltd., Udaipur

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadav & A.C.I.T., Vs. M/S Ankit Chirag Developers Pvt. Central Circle-1, Ltd., Udaipur. 54-55, Rajdeep, New Fatehpura, Udaipur. Pan No. Aagca 9897 C

…t Income Tax Officer, 25 ITD 599(TM) (Pat) 6. CIT v/s Dharampal Premchand Limited (2007) 295 ITR 105(Delhi) 7. CIT V/s Khazan Singh and borther (2008) 304 ITR 234(P&H) 8. CIT V/s R.K.Venketchanalam (2008) 301 ITR 236(Mad) 9. CIT V/s Maulik Kumar K shah (2008) 307 ITR 137 (Guj) 10. Prakash Chandra Nahata V/s CIT (2008) 301 ITR 134 (MP) 11. CIT v/s D.K.Gupta (2009) 308 ITR 320 Delhi 12. DCIT v/s Redha Developers India Ltd. (2010) 329 ITR 1 (Guj) 13. Nirmal Fashions (P) Ltd. V.s DCIT (2009)123 TTJ (Kol) 180. 8. The ld. CIT(A) after considering the above plea and submissions has deleted the additions by observing as…

ACIT, Udaipur vs. M/S. Ankit Chirag Developers Pvt. Ltd., Udaipur

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadav & A.C.I.T., Vs. M/S Ankit Chirag Developers Pvt. Central Circle-1, Ltd., Udaipur. 54-55, Rajdeep, New Fatehpura, Udaipur. Pan No. Aagca 9897 C

…t Income Tax Officer, 25 ITD 599(TM) (Pat) 6. CIT v/s Dharampal Premchand Limited (2007) 295 ITR 105(Delhi) 7. CIT V/s Khazan Singh and borther (2008) 304 ITR 234(P&H) 8. CIT V/s R.K.Venketchanalam (2008) 301 ITR 236(Mad) 9. CIT V/s Maulik Kumar K shah (2008) 307 ITR 137 (Guj) 10. Prakash Chandra Nahata V/s CIT (2008) 301 ITR 134 (MP) 11. CIT v/s D.K.Gupta (2009) 308 ITR 320 Delhi 12. DCIT v/s Redha Developers India Ltd. (2010) 329 ITR 1 (Guj) 13. Nirmal Fashions (P) Ltd. V.s DCIT (2009)123 TTJ (Kol) 180. 8. The ld. CIT(A) after considering the above plea and submissions has deleted the additions by observing as…

The Dy. CIT- 2(1), Raipur (Cg) vs. M/S. Arya Energy Ltd., Raipur (Cg)

In the result, appeal filed by the revenue for assessment year 2011-

Bench: Shri N.K. Billaiya (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2011-12 The Dy. Commissioner Of M/S Arya Energy Ltd., Income-Tax-2(1), C/O Avinash Builders, Central Revenue Building, Avinash House, Civil Lines, Vs. Near Anupam Garden, Raipur (C.G.) G.B. Road, Raipur (C.G.) Pan: Aagca2002F (Appellant) (Respondent) Revenue By : Shri P.K. Mishra (Dr) Assessee By : Shri Abhishek Jain (Ar) Date Of Hearing: 07/03/2018 Date Of Pronouncement: 25/05/2018

…r submitted that since the Ld. CIT(A) has decided this ground of appeal by following the decisions rendered in case of DCIT Vs. Radhe Developers India Ltd. (2010) 329 ITR 1 (Guj), CIT vs Anil Bhalla (2010) 322 ITR 191 (Del) CIT vs. Maulik Kumar K. Shah (2008) 307 ITR 137 (Guj), Commissioner of Income Tax Vs. Atam Valves (P) Ltd. (2009) 184 Taxman 6 (P&H) Nagarjuna Construction Co. Ltd. Vs. Deputy CIT (2012) 52 SOT 178 (Hyderabad) (URO), Amar Natvarlal Vs. ACIT (1197) 57 TTJ (Ahd) 454: 60 ITD 560 and Nishant Construction Pvt. Ltd. vs ACIT, ITA No 1505/Ahd/2015 by the Ho’ble High Courts and the Tribunal, there is n…