CIT v. Oasis Hospitalities P. Ltd.

333 ITR 119High Court2011#268 most cited

What is CIT v. Oasis Hospitalities P. Ltd. authority for?

When explaining cash credits under Section 68, the assessee must establish the identity of the creditor, their creditworthiness or financial capacity, and the genuineness of the transaction. Merely proving identity does not discharge this initial onus, which shifts to the Assessing Officer once these three elements are prima facie proven.

292

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Oasis Hospitalities P. Ltd. · Section 68 · Income Tax Act 1961 · cash credits · onus of proof · identity creditworthiness genuineness · share application money · paper company · shifting onus

Also reported as

198 Taxmann 247238 CTR 4029 Taxmann.com 1792011 SCC OnLine DEL 506

Sections most often in play

Section 68Section 143(3)Section 1961Section 133(6)Section 147Section 142(1)Section 132Section 69C
Read the full judgment

Issues it is cited on

paper companycreditworthiness of the creditorshare capital and share premiumsource of sourcesection 31section 251(2)share application moneyentry operatorsection 251(1)(a)addition u/s 68live linkadmission of additional evidence

Judgments citing CIT v. Oasis Hospitalities P. Ltd.

CIT vs. Titan Securities Ltd

ITA-263/2012HC Delhi28 Feb 2013
Section 142(1)Section 143(1)Section 143(3)Section 148Section 151Section 260ASection 68

…assessee in a collusive arrangement with persons who are selfconfessed "accommodation entry providers". Reference was also made on behalf of the assessee to the recent judgment of a Division Bench of this court in CIT v. Oasis Hospitalities P. Ltd. [2011] 333 ITR 119 (Delhi). We have given utmost consideration to the judgment. It disposes of several appeals in the case of different assessees. Except the case of CIT v. Oasis Hospitalities P. Ltd. (I. T. A. Nos. 2093 and 2095 of 2010) since reported in [2011] 333 ITR 119 (Delhi), the other cases fall under the category of Orissa Corporation [1986] 15…

Commissioner of Income Tax

ITA/342/2011HC Delhi15 Feb 2012
Section 143(1)Section 148Section 260A

…ollusive arrangement with persons who are self-confessed “accommodation entry providers”. 40. Reference was also made on behalf of the assessee to the recent judgment of a Division Bench of this court in CIT v. Oasis Hospitalities Private Limited, (2011) 333 ITR 119. We have given utmost consideration to the judgment. It disposes of several appeals in the case of different assessees. Except the case of CIT v Oasis Hospitalities P Ltd. (ITA Nos.2093 & 2095/2010), the other cases fall under the category of Orissa Corporation (supra). However, in the case of Oasis Hospitalities P Ltd., there is reference t…

Gupta Citi Shelters Ltd vs. Commissioner of Income Tax New Delhi

Appeals of the assessee are allowed

ITA/1324/2008HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…Section 68/69 of the Act. We may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2011 with lead case entitled CIT Vs. Oasis Hospitalities, (2011) 333 ITR 119. As catena of judgments were taken note of and the ratio culled out ITA No.972 of 2009 Page 4 of 58 • therein after undertaking in-depth analysis, we are of the view that our purpose can be served by borrowing liberally from the said judgment to state the legal position. Some more cases which have been decided thereafter or cited bef…

Infomediary India Pvt Ltd vs. Commissioner of Income Tax

Appeals of the assessee are allowed

ITA/1229/2010HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68Section 68o

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided thereafter or cited befo…

CIT vs. Laxman Industrial Resources Ltd

Appeals of the assessee are allowed

ITA/339/2011HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided thereafter or cited befo…

Commissioner of Income Tax vs. Vijay Foils P.Ltd

Appeals of the assessee are allowed

ITA/29/2010HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68Section 68o

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided thereafter or cited befo…

CIT vs. Jh Finvest Pvt Ltd

Appeals of the assessee are allowed

ITA/1710/2010HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68Section 68o

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided thereafter or cited befo…

Infomediary India Pvt Ltd vs. Comissioner of Income Tax

Appeals of the assessee are allowed

ITA - 1228 / 2010HC Delhi23 Dec 2011
Section 68Section 68o

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 2011:DHC:12104-DB 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided therea…

Commissioner of Income Tax-III vs. Sham Mohan Pvt Ltd

Appeals of the assessee are allowed

ITA - 726 / 2011HC Delhi23 Dec 2011

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 2011:DHC:12088-DB 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided therea…

Gupta Citi Shelters Ltd vs. Commissioner of Income Tax New Delhi

Appeals of the assessee are allowed

ITA - 1324 / 2008HC Delhi23 Dec 2011

…Section 68/69 of the Act. We may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2011 with lead case entitled CIT Vs. Oasis Hospitalities, (2011) 333 ITR 119. As catena of judgments were taken note of and the ratio culled out ITA No.972 of 2009 Page 4 of 58 2011:DHC:12065-DB • therein after undertaking in-depth analysis, we are of the view that our purpose can be served by borrowing liberally from the said judgment to state the legal position. Some more cases which have been decided therea…

Commissioner of Income Tax vs. Vijay Foils P.Ltd

Appeals of the assessee are allowed

ITA - 29 / 2010HC Delhi23 Dec 2011
Section 68Section 68o

…s of Section 68/69 of the Act. we may record that this very Bench had the occasion to deal with another batch of appeals touching upon this very issue, which culminated into judgment dated 31.1.2OLt with lead case entitled crl ws. oasis hiospitalities, (2011) 333 ITR 119, As catena of' judgments were taken note of and the ratio culled out: ITA No.972 of 2009 Page 4 of 58 ?' 2011:DHC:12058-DB 9J, :l therein after undertaking in-depth analysis, we are"of the view that our purpose can be served by borrowing liberally from the said ludgment to state the legal position. Some more cases which have been decided therea…

Integrated Data Base & Research Centre Pvt Ltd vs. Income Tax Officer

ITA - 1186 / 2011HC Delhi24 Oct 2011
Section 260A

…. He submits that the appellant had established identity, genuineness of the transactions and the creditworthiness of the shareholders. He relies upon decision of this Court in Vijay Power Generators Ltd. Vs. Director of Income Tax and Another [2011] 333 ITR 119 (Delhi). . 3. The reasons and the operative portion of the impugned order read as under:- . ?7. We have heard both the parties. We have gone through the assessment order as well as order passed by ld. CIT (Appeals). It is seen from the order of the ld. CIT (A) that the assessee has been pleading before him that the AO h…