CIT v. P. Mohanakala

ACIT, Meerut vs. M/S Vats Pharma Pvt. Ltd., Meerut

In the result, Appeal filed by the Revenue Stands dismissed

Bench: Shri H.S. Sidhu & Shri L.P. Sahuassessment Year: 2006-07

…a Co.(P) Ltd. Vs CIT 180 ITR 261(Cal) II. "Krishan Kumar Jhanb vis ITO and Anr (Punjab & Haryana) 17 DTR 249" III. Mis Sejai International Ltd vis CIT Meerut (All.) Appeal No.306 of 2010. IV. CIT Vs Durga Prasad More, 82 ITR 540(SC) V. CIT Vs P. Mohnakala, 291 ITR 278 (SC) VI. CIT Vs Sumati Dayal, 214, ITR 801 (SC) VII. ITO Vs Diza Holdings Pvt. Ltd. 255 ITR 573 (Kerla) VIII. VIII. CIT vis Korlay Trading Co. Ltd. (Cal.) 232 ITR 820. (2) That the appellant craves leave to add, modify andlor delete any ground(s) of appeal. (3) In the facts and circumstances of the case, the order of the Commissioner of Incom…

ACIT, Meerut vs. M/S. Kastoori Devi Foundation, Meerut

In the result, the appeal of the Revenue stands dismissed

Bench: Shri J.S. Reddy & Shri Chandra Mohan Garg

…rading Co. Ltd. (Cal.) 232 ITR 820. III. “Krishan Kumar Jhanb v/s ITO and Anr (Punjab & Haryana) IV. 17 DTR 249” M/s Sejai International Ltd v/s CIT Meerut (AH.) Appeal V. No.306 of 2010. CIT Vs Durga Prasad More, 82 ITR 540(SC) VI. CIT Vs P. Mohnakala, 291 ITR 278 (SC) VII. VIII. CIT Vs Sumati Daval, 214, ITR 801 (SC) ITO Vs Diza Holdings Pvt. Ltd. 255 ITR 573 (Kerla) IX. CIT Vs. Precision Finance Pvt. Ltd. (Cal.) 208 ITR 465 X. V.I.S.P Pvt. Ltd. Vs. CIT (MP) 265 ITR 202 XI. Further, the case law of DIT (Exemption) Vs. Keshav Social and Charitable Foundation (2005) 146 Taxman 569 (Delhi) quoted in CIT (A…

ITO, Meerut vs. Shri Mahesh Chand Saini, Meerut

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

…y Trading Co. Ltd. (Cal.) 232 ITR 820. IV. Krishan Kumar Jhanb v/s ITO and Anr (Punjab & Haryana) 17 DTR 249" V. M/s Sejai International Ltd v/s CIT Meerut (All.) Appeal No.306 of2010. VI. CIT V s Durga Prasad More, 82 ITR 540(SC) VII. CIT Vs P. Mohnakala, 291 ITR 278 (SC) 2 VIII.CIT Vs Sumati Dayal, 214, ITR 801 (SC) IX. ITO Vs Diza Holdings Pvt. Ltd. 255 ITR 573 (Kerla) 2. That the appellant craves leave to add, modify and / or delete any ground(s) of appeal. 3. In the facts and circumstances of the case, the order of the Commissioner of Income Tax (A) may be set aside and that of the AO restored.” 3.…

Ashutosh Garg, New Delhi vs. ACIT, New Delhi

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

…income nature. The burden in this regard is on the appellant and no such attempt is made by the appellant during the appellate proceedings. Therefore, respectfully following the Hon'ble Supreme Court's decision in the case of CIT vs. P. Mohanakala reported in 291 ITR 278, the addition made by the AO is here by upheld and the ground No. 1 is rejected.” 6. The ld. AR firstly pointed out that the first round of proceedings, the Assessing Officer made two additions viz. (i) Rs.27,46,431 as unexplained remittance from abroad and (ii) Rs.26,31,257 u/s 68 of the Act and the CIT(A) also dismissed appeal of the assessee…

Commissioner of Income Tax vs. Ramesh Suri

…ITR No.17/2002 Page 1 $~6 * IN THE HIGH COURT OF DELHI AT NEW DELHI Decided on: 10th February, 2015 + ITR 17/2002 COMMISSIONER OF INCOME TAX ..... Petitioner Through Mr. Balbir Singh, sr. standing counsel with Ms. Rubal Maini, Adv. versus RAMESH SURI ..... Respondent Through Mr. Prakash Kumar, Adv. CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE R.K.GAUBA MR. JUSTICE S. RAVINDRA BHAT (OPEN COURT) % 1. The following reference has been received under the erstwhile Section 256(2) of the Income Tax Act. It is ag…

Commissioner of Income Tax-III vs. M/S. Shri Sidhdata Ispat (P) Ltd

…anation offered by the assessee. It is a question of fact and the order of the Tribunal is not a perverse one. The concurrent finding given by both the authorities below is based on valid materials and evidence. In the case of CIT vs. P. Mohanakala (2007) 291 ITR 278 (SC), the Supreme Court held that whenever there is a concurrent finding by the authorities below, no interference should be called for by the High Court. Under these circumstances, we do not find any error or legal infirmity in the order of the Tribunal so as to warrant interference.” 8. The decision in Bhalotia Engineering Works Privat…

Commissioner of Income Tax Delhi vs. Sunaero Ltd

…s cannot be re-appreciated. In the present case, there are concurrent findings of both, CIT(Appeal) and the tribunal in favour of the assessee. Reliance is placed on Janardhana Rao (M) vs. Joint CIT, (2005) 273 ITR 50 (SC), CIT vs. P. Mohankala, (2007) 291 ITR 278 (SC) and other decisions on similar lines of the Delhi High Court. (ii) No evidence relating to undisclosed income was found during search and, therefore, block assessment proceedings are void. Block assessment proceedings are not a substitute for regular assessment proceedings. [See Commission of Income Tax vs. Ravi Kant Jain, (2001) 25…

Commissioner of Income Tax

…s cannot be re-appreciated. In the present case, there are concurrent findings of both, CIT(Appeal) and the tribunal in favour of the assessee. Reliance is placed on Janardhana Rao (M) vs. Joint CIT, (2005) 273 ITR 50 (SC), CIT vs. P. Mohankala, (2007) 291 ITR 278 (SC) and other decisions on similar lines of the Delhi High Court. (ii) No evidence relating to undisclosed income was found during search and, therefore, block assessment proceedings are void. Block assessment proceedings are not a substitute for regular assessment proceedings. [See Commission of Income Tax vs. Ravi Kant Jain, (2001) 25…

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

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…cause of the reason that in such circumstance, the assessee cannot feign ignorance about the status of these parties. 21. We may also usefully refer to the judgment of the Supreme Court in the case of Commissioner of Income Tax Vs. P. Mohanakala [(2007) 291 ITR 278 (SC)]. In. that case, the assessee had received foreign gifts from one common donor. The payments were made to them by instruments issued by foreign banks and credited to the respective accounts of the assessees by negotiations through bank in India. The evidence indicated that the donor was to receive suitable compensation from the asses…

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

Appeals of the assessee are allowed

…cause of the reason that in such circumstance, the assessee cannot feign ignorance about the status of these parties. 21. We may also usefully refer to the judgment of the Supreme Court in the case of Commissioner of Income Tax Vs. P. Mohanakala [(2007) 291 ITR 278 (SC)]. In. that case, the assessee had received foreign gifts from one common donor. The payments were made to them by instruments issued by foreign banks and credited to the respective accounts of the assessees by negotiations through bank in India. The evidence indicated that the donor was to receive suitable compensation from the asses…

Gurinder Mohan Singh Nindrajog vs. Commissioner of Income Tax

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…gh Court in its third appellate jurisdiction cannot do by virtue of the specific language employed in Section 260A of the Act.” 30. In a recent judgment pronounced by the Supreme Court in the case of Commissioner of Income Tax Vs. P. Mohanakala, [2007] 291 ITR 278 (SC) this well established principle is reiterated and affirmed by making following pertinent observations:- “The findings of fact arrived at by the authorities below are based on proper appreciation of the facts and the material available on record and surrounding circumstances. The doubtful nature of the transaction and the manner in whi…

Gurinder Mohan Singh Nindrajog vs. Commissioner of Income Tax

…gh Court in its third appellate jurisdiction cannot do by virtue of the specific language employed in Section 260A of the Act.” 30. In a recent judgment pronounced by the Supreme Court in the case of Commissioner of Income Tax Vs. P. Mohanakala, [2007] 291 ITR 278 (SC) this well established principle is reiterated and affirmed by making following pertinent observations:- “The findings of fact arrived at by the authorities below are based on proper appreciation of the facts and the material available on record and surrounding circumstances. The doubtful nature of the transaction and the manner in whi…

Mod Creations Pvt. Ltd vs. Income Tax Officer

The appeal is allowed

…transactions had been routed through the banking channels, would not discharge the assessee of the onus cast on it. In support of his submissions the learned counsel relied upon the judgment of the Supreme Court in the case of CIT vs P. Mohanakala (2007) 291 ITR 278 (SC). 8. We have heard the learned counsel for the parties. It is clear that the addition was made by the A.O. broadly for the following reasons: (i) At the point in time when loans were advanced to the assessee, the aforesaid creditors did not have sufficient balance to their credit in their respective bank accounts. (ii) Cheques wer…