CIT v. Orissa Credit Corp. Ltd.

Shri Kailash Chand Yadav, Sikar vs. Income Tax Officer, Ward, Neemkathana

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 173/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2014-15 Shri Kailash Chand Yadav, Cuke I.T.O., Vs. S/O-Shri Chhotu Ram Yadav, Ward-Neemkathana Dhani Amar Singh Wali Mundru, Tehsil-Srimadhopur, Sikar. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aiupy 2977 J Appellant Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Shravan Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By: Smt. Monisha Choudhary(Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 25/06/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 30/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is The Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A)-3, Jaipur Dated 23/01/2019 For The A.Y. 2014-15. The Grounds Taken By The Assessee Are As Under: “1. The Impugned Assessment Order U/S 143(3) Rws 147 Dated 19/12/2017 As Well As The Action Taken U/S 147/148 By The Ld. Ao Are Bad In Law, Invalid, Illegal & On Facts Of The Case, For Want Of Jurisdiction, Barred By Limitation & Various Other Reasons & Hence The Same May Kindly Be Quashed. 2. Rs.13,00,000/-: The Ld. Cit(A) Has Grossly Erred In Law As Well As On The Facts Of The Case In Confirming The Addition Of Rs. 13,00,000/- Made By The Ld. Ao On Account Of Cash Deposit Without Invoking Any Provision Of The It Act & By Ignoring The Material Evidences On Assumption Or Suspicion. Hence The Addition So Made By The Ld. Ao & Sustained By 2

…d. AO himself recorded the statement of the person thus, duly discharged the initial burden lay upon it, to which extent only it was responsible, as held earlier in CIT vs. Orissa Credit Corp. Ltd. 159 ITR 78 (SC) and recently referred in CIT vs P. Mohan Kala 291 ITR 279 (SC). Thus identity, genuineness and creditworthiness of the person stood established beyond doubt only due to the dissatisfaction of the AO it cannot be denied when they have not brought on record any material evidence. 12. Onus was to be discharged by the AO: On the other hand when the onus now shifted on the AO the same was to be discharged by…

Radhey Ram Godara, Jaipur vs. ITO, Jaipur

In the result, appeal of the assessee is partly allowed for Statistical purposes

…arged the burden that lay on him then it could not be said that such a conclusion was unreasonable or perverse or based on no evidence—High Court was, therefore, right in refusing to refer the questions sought for and recently referred in CIT vs P. Mohan Kala 291 ITR 279 (SC). Identity Established: It is further submitted that even assuming the ratio so laid down in the case of Sophia Finance Ltd. 205 ITR 98 (Del.) is held applicable, i. e . what is required is only to establish that there existed a shareholder and the payment was really made by it, which stands established in the present case, as would appear fr…

Tirupati College of Technical Education Society, Jaipur vs. CIT(Exemptions), Jaipur

In the result, the appeal filed by the assessee is partly allowed with

…not speak a single word on the same. The assessee thus, duly discharged the initial burden lay upon it, to which extent only it was responsible, as held earlier in CIT vs. Orissa Credit Corp. Ltd. 159 ITR 78 (SC) and recently referred in CIT vs P. Mohan Kala 291 ITR 279 (SC). 35 M/s.Tirupati College of Technical Education Society vs LD. CIT( Exemption), Jaipur Thus identity, geneuiness and creditworthiness of the person stood established beyond doubt only due to the wrong dissatisfaction of the AO it cannot be denied when they have not brought on record any material evidence. 17. Onus was to be discharged by t…