What is CIT v. Orissa Corporation Pvt. Ltd. authority for?

When an assessee provides the identity and address of a creditor or investor for a cash credit or share capital under Section 68, the burden shifts to the Department to establish lack of genuineness or creditworthiness, requiring it to conduct further inquiries; mere non-compliance by third parties to summons cannot be the sole basis for an adverse inference against the assessee.

How many judgments cite CIT v. Orissa Corporation Pvt. Ltd.?

897 judgments on BharatTax cite CIT v. Orissa Corporation Pvt. Ltd. (159 ITR 78), spanning 2007 to 2026.

Which sections of the Income Tax Act does CIT v. Orissa Corporation Pvt. Ltd. come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 133(6), Section 147, Section 131, Section 148.

CIT v. Orissa Corporation Pvt. Ltd. (159 ITR 78)

Deputy Commissioner of Income Tax (Central), Jabalpur vs. Tarun Devcon Private Limited, Jabalpur

In the result, the Revenues’ appeal is dismissed in terms of the foregoing

ITA 18/JAB/2019[2015-16]Status: DisposedITAT Jabalpur29 Dec 2020AY 2015-16

Bench: Shri N.R.S. Ganesan & Shri Sanjay Arora

Section 10(38)Section 131Section 139(1)Section 143(3)Section 68

…/s. 131 to enforce their attendance, being the witnesses of the Department. In view thereof, in his view the onus u/s. 68 had been discharged by the assessee. Reliance was placed by him on several decisions, notably CIT vs. Orissa Corporation (P.) Ltd. [1986] 159 ITR 78 (SC); CIT vs. Metachem Inds. [2000] 245 ITR 160 (MP); Nemi Chand Kothari vs. CIT [2003] 264 ITR 254 (Gau); Sarogi Credit Corporation vs. CIT [1976] 103 ITR 344 (Patna); and Tolaram Daga vs. CIT [1966] 59 ITR 632 (Ass). The Revenue challenges their deletion before us. 3. We have heard the parties and have perused the material on record. 3.1 Our fir…

ACIT, New Delhi vs. M/S. Brindavan Agencies Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 5272/DEL/2016[2012-13]Status: DisposedITAT Delhi23 Dec 2020AY 2012-13

Bench: Shri H.S. Sidhu & Shri Anil Chaturvedi[Assessment Year: 2012-13]

For Appellant: Sh. Raj Kr. Gupta, CAFor Respondent: Sh. Prakash Dube, Sr. DR

Section 143(2)Section 143(3)Section 68

…llant, which had discharged the initial onus which lay upon it by proving the identity and capacity of the share applicants and the genuineness of the transactions. This principle has been laid down in the case of CIT. vs. Orissa Corporation Pvt. Ltd., [1986J 159 ITR 78 (SC), wherein it was held as follows:- "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax 9 assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under section 131 at the instance o…

M/S Lakshmi Narayan Rice & Food Products Pvt. Ltd., Burdwan vs. I.to., Ward-2(1), Burdman

ITA 501/KOL/2019[2010-11]Status: DisposedITAT Kolkata14 Dec 2020AY 2010-11

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2010-11 M/S Lakshmi Narayan Rice Income Tax Officer, बनाम & Food Products Pvt. Ltd., Ward-2(1), Aayakar / Vill-Kalsi, P.O. V/S. Bhawan, Court Chotkhanda, P.S. Memari, Compound, Burdwan- Burdwan, Pin-713146 713101 [Pan No.Aabcl 6230 F] .. अपीलाथ" /Appellant ""यथ" /Respondent

Section 143(3)Section 68

…so been dismissed by the Hon'ble Apex Court. 8. The main plank on which the AO made the addition was because the directors of the share subscribers did not turn up before him. In such a case the Hon'ble Apex Court in the case of Orissa Corpn. (P) Ltd. (supra) 159 ITR 78 and the Hon'ble Gujarat High Court, in the case of Dy. CIT v. Rohini Builders [2002] 256 ITR 360 [2003] 127 Taxman 523 , has held that onus of the assessee (in whose books of account credit appears) stands fully discharged if the identity of the creditor is established and actual receipt of money from such creditor is proved. In case, the Assessin…

Hindon Forege Pvt. Ltd., Ghaziabad vs. DCIT, Circle- 1, Ghaziabad

In the result, appeal of the Assessee allowed

ITA 3800/DEL/2017[2010-11]Status: DisposedITAT Delhi03 Dec 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri Anil Chaturvedi

For Appellant: Shri Kapil Goel, AdvocateFor Respondent: Ms. Parul Singh, Sr. D.R

Section 68

…he case of CIT vs. Dwarkadhish Investment Pvt. Ltd., (2011) 330 ITR 298 (Del.) in which it was held that assessee need not to prove “source of the source”. 7.2. Judgment of the Hon’ble Supreme Court in the case of CIT vs. Orissa Corporation (P.) Ltd., (1986) 159 ITR 78 (SC) in which it was held as under : “In this case the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the revenue that the said creditors were the income-tax assessees. Their index number was in the file of the revenue. The revenue, apart from issuing notices under section 131 at the instance of th…

Mr. Kishore Gidwaney, New Delhi vs. ITO, New Delhi

In the result, the appeal of assessee is allowed

ITA 3249/DEL/2016[2011-12]Status: DisposedITAT Delhi02 Dec 2020AY 2011-12

Bench: Shri Bhavnesh Saini & Shri Anil Chaturvediआ.अ.सं/.I.T.A No.3249/Del/2016 िनधा"रणवष"/Assessment Year:2011-12 बनाम Kishore Gidwaney Ito B-389, New Friends Colony, Vs. Ward 22(2) New Delhi. C.R. Building, New Delhi. Pan No. Aajpg3295J अपीलाथ" Appellant ""यथ"/Respondent

Section 54F

…d of confirming the addition for not filing the copy of the ITR. The non-filing of copy of ITR is no ground to disbelieve the explanation of the assessee. He has relied upon the judgment of the Supreme Court in the case of CIT vs. Orissa Corporation Pvt. Ltd. 159 ITR 78 in which it was held as under: “In this case the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the revenue that the said creditors were the Income tax asessees. Their index number was in the file of the Revenue. The Revenue, apart from issuing notices under section 131 at the instance of the asse…

ACIT, Central Circle-15, New Delhi vs. Sunstar Infra Developers Pvt. Ltd., New Delhi

In the result, all the Cross Objections filed by the assessees are allowed and all the appeals filed by the Revenue are dismissed

ITA 816/DEL/2018[2012-13]Status: DisposedITAT Delhi27 Nov 2020AY 2012-13