CIT v. P.V. Kalyanasundaram

282 ITR 259High Court2006#1004 most cited

What is CIT v. P.V. Kalyanasundaram authority for?

Seized loose sheets or unsigned documents discovered during a search operation possess admissible evidentiary value and can form the basis for income additions if corroborated by external evidence, such as matching payments, business records, or corroborative statements.

108

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2014 to 2026.

Also referred to as

CIT v. P.V. Kalyanasundaram · 282 ITR 259 · Section 132 · Section 153A · Section 292C · seized loose sheets · unsigned documents · evidentiary value · corroboration · additions to income · on-money transactions · unexplained cash

Also reported as

155 Taxmann 454

Sections most often in play

Section 143(3)Section 132Section 153ASection 292CSection 69CSection 69BSection 115BBESection 153C

Issues it is cited on

peak credit theorytransferee companysection 292csection 131(1a)section 158bdsection 132(4a)dumb documentssection 65bsection 65panchnamasection 34on-money

Judgments citing CIT v. P.V. Kalyanasundaram

Brij Gopal Construction Company (P) Ltd., New Delhi vs. DCIT Central Circle-3, New Delhi

In the result, all the appeals filed by the Revenue in ITA Nos

ITA 2321/DEL/2023[2014-15]Status: DisposedITAT Delhi04 Sept 2024AY 2014-15

Bench: Shri Saktijit Dey & Shri S.Rifaur Rahman

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Nimisha Singh, CIT DR
Section 132Section 139Section 143(3)Section 153ASection 68Section 69C

…unal rightly held that those were independent transactions and had nothing to do with the memorandums of understanding. No substantial question of law arose." 35. Similarly, the Hon'ble Madras High Court in the case of CIT vs. P.V. Kalyanasundaram reported in 282 ITR 259 (Madras) has held as under : "The burden of proving actual consideration in such transaction is that of the revenue. The Tribunal had given factual finding and, inter alia, held that the Apex Court in K.P. Varghese v. ITO [1991] I31 ITR ITA Nos.2472 & 2473/DEL/2023 ITA Nos.2751 to 2754/DEL/2023 597 / 7 Taxman 13 held that the burden of proving ac…

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2938/DEL/2023[2017-18]Status: DisposedITAT Delhi30 Aug 2024AY 2017-18

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…cuments or in the documents A-8, A-9 and A- 10 etc. of Sahara.” ii) 39 STC 478. (SC) State of Kerala vs. K.T. Shaduli Yusuff (Three Judge’s Bench) iii) 294 ITR 49 (SC) CIT vs. P.V. Kalyansundaram affirming the decision of Hon’ble Madras High Court reported in 282 ITR 259 iv) 97 ITR 696 (Bom) Addl. CIT vs. Miss Lata Mangeshkar v) 163 ITR 249 (Guj) CIT vs. M.K. Brothers vi) 300 ITR 426 (All.) CIT vs. Salek Chand vii) 209 ITR 821 (Kerala) P.S. Abdul Majeed vs. Agricultural Income Tax and Sales Tax Officer viii) 220 Taxman 168 (Del.) CIT vs. Prem Prakash Magpal ix) ITA 984/2019 dated 4.3.2024 PCIT vs. Rashmi Rajiv Me…

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2937/DEL/2023[2016-17]Status: DisposedITAT Delhi30 Aug 2024AY 2016-17

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…cuments or in the documents A-8, A-9 and A- 10 etc. of Sahara.” ii) 39 STC 478. (SC) State of Kerala vs. K.T. Shaduli Yusuff (Three Judge’s Bench) iii) 294 ITR 49 (SC) CIT vs. P.V. Kalyansundaram affirming the decision of Hon’ble Madras High Court reported in 282 ITR 259 iv) 97 ITR 696 (Bom) Addl. CIT vs. Miss Lata Mangeshkar v) 163 ITR 249 (Guj) CIT vs. M.K. Brothers vi) 300 ITR 426 (All.) CIT vs. Salek Chand vii) 209 ITR 821 (Kerala) P.S. Abdul Majeed vs. Agricultural Income Tax and Sales Tax Officer viii) 220 Taxman 168 (Del.) CIT vs. Prem Prakash Magpal ix) ITA 984/2019 dated 4.3.2024 PCIT vs. Rashmi Rajiv Me…

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2936/DEL/2023[2015-16]Status: DisposedITAT Delhi30 Aug 2024AY 2015-16

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…cuments or in the documents A-8, A-9 and A- 10 etc. of Sahara.” ii) 39 STC 478. (SC) State of Kerala vs. K.T. Shaduli Yusuff (Three Judge’s Bench) iii) 294 ITR 49 (SC) CIT vs. P.V. Kalyansundaram affirming the decision of Hon’ble Madras High Court reported in 282 ITR 259 iv) 97 ITR 696 (Bom) Addl. CIT vs. Miss Lata Mangeshkar v) 163 ITR 249 (Guj) CIT vs. M.K. Brothers vi) 300 ITR 426 (All.) CIT vs. Salek Chand vii) 209 ITR 821 (Kerala) P.S. Abdul Majeed vs. Agricultural Income Tax and Sales Tax Officer viii) 220 Taxman 168 (Del.) CIT vs. Prem Prakash Magpal ix) ITA 984/2019 dated 4.3.2024 PCIT vs. Rashmi Rajiv Me…

Anil Chaudhary, New Delhi vs. ACIT Central Circle-17, New Delhi

In the result, appeals filed by the assessee are allowed

ITA 2935/DEL/2023[2014-15]Status: DisposedITAT Delhi30 Aug 2024AY 2014-15

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharma

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Ms. Amisha Gupt, CIT DR
Section 127Section 143(2)Section 153ASection 153CSection 153DSection 69C

…cuments or in the documents A-8, A-9 and A- 10 etc. of Sahara.” ii) 39 STC 478. (SC) State of Kerala vs. K.T. Shaduli Yusuff (Three Judge’s Bench) iii) 294 ITR 49 (SC) CIT vs. P.V. Kalyansundaram affirming the decision of Hon’ble Madras High Court reported in 282 ITR 259 iv) 97 ITR 696 (Bom) Addl. CIT vs. Miss Lata Mangeshkar v) 163 ITR 249 (Guj) CIT vs. M.K. Brothers vi) 300 ITR 426 (All.) CIT vs. Salek Chand vii) 209 ITR 821 (Kerala) P.S. Abdul Majeed vs. Agricultural Income Tax and Sales Tax Officer viii) 220 Taxman 168 (Del.) CIT vs. Prem Prakash Magpal ix) ITA 984/2019 dated 4.3.2024 PCIT vs. Rashmi Rajiv Me…

Income Tax Officer, Ward-1, Ahmednagar vs. Narendra Sampatlal Bafna, Ahmednagar

In the result, the appeal filed by the Revenue and the CO filed by the assessee are dismissed

ITA 688/PUN/2024[2017-18]Status: DisposedITAT Pune19 Aug 2024AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

For Appellant: Shri Prasad BhandariFor Respondent: Shri Keyur Patel, CIT
Section 1Section 132Section 132(4)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER Assessment Year : 2017-18 ITO, Ward-1, Ahmednagar Narendra Sampatlal Bafna Bafna Tyre and Auto, Vs. Ujwal Complex, Station Road, Ahmednagar – 414001 PAN: AAVPB7561N (Appellant) (Respondent) CO No.25/PUN/2024 Assessment Year : 2017-18 Narendra Sampatlal Bafna ITO, Ward-1, Ahmednagar Bafna Tyre and Auto, Vs. Ujwal Complex, Station Road, Ahmednagar – 414001 PAN: AADCV5473G (Cross Objector) (Respondent) Assessee by : Shri Prasad Bhandari Department by : Shri Keyur Patel, CIT…

Rajagopal Saravanan, Chennai vs. ACIT, Central Circle 1(3), Chennai

The appeal stand allowed in terms of our above order

ITA 119/CHNY/2024[2021-22]Status: DisposedITAT Chennai10 Jul 2024AY 2021-22

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.119/Chny/2024 (िनधा*रणवष* / Assessment Year: 2021-22) Shri Rajagopal Saravanan Acit बनाम/ C/O. Shri T.N.Seetharaman (Advocate) Central Circle-1(3), 384 (Old No.196) Lloyds Road, Chennai. Vs. Chennai-600 086. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Amlps-0030-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri T.N.Seetharaman (Advocate)-Ld. Ar " थ"कीओरसे/Respondent By : Shri P. Sajit Kumar(Jcit) -Ld. Sr .Dr सुनवाईकीतारीख/Date Of Hearing : 24-06-2024 घोषणाकीतारीख /Date Of Pronouncement : 10-07-2024 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri T.N.Seetharaman (Advocate)-Ld. ARFor Respondent: Shri P. Sajit Kumar(JCIT) -Ld. Sr .DR
Section 143(3)

…आयकर अपीलीय अिधकरण “सी” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, CHENNAI माननीय "ी एबी टी. वक", "ाियक सद" एवं माननीय "ी मनोज कुमार अ'वाल ,लेखा सद" के सम)। BEFORE HON’BLE SHRI ABY T. VARKEY, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ ITA No.119/Chny/2024 (िनधा*रणवष* / Assessment Year: 2021-22) Shri Rajagopal Saravanan ACIT बनाम/ C/o. Shri T.N.Seetharaman (Advocate) Central Circle-1(3), 384 (Old No.196) Lloyds Road, Chennai. Vs. Chennai-600 086. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AMLPS-0030-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant by : Shri T.N.Seet…

Sri Prakash Bhajandas Talreja, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Bengaluru

ITA 1066/BANG/2023[2018-19]Status: DisposedITAT Bangalore22 Mar 2024AY 2018-19

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 234BSection 271ASection 69

…es which cannot be allowed. Under these circumstances, there is no reason to confirm the addition of Rs. 100 lakhs towards on-money payment. Accordingly, the addition of Rs. 100 lakhs is deleted.— CIT vs. P.V. Kalyanasundaram (2006) 203 CTR (Mad) 449: (2006) 282 ITR 259 (Mad) relied on” 15. The assessee relied upon the decision of Hon'ble A.P. High Court, in the case of K. Lakshmi Savitri Devi in ITA No.563 of 2011. The Hon'ble A.P. High Court, while upheld the order of ITAT ‘A’ Bench, in the case of K. Lakshmi Savitri Devi, observed as under. “We are of the view that the Tribunal has rightly held that the regis…

Sri Prakash Bhajandas Talreja, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Bengaluru

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1065/BANG/2023[2017-18]Status: DisposedITAT Bangalore22 Mar 2024AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…res which cannot be allowed. Under these circumstances, there is no reason to confirm the addition of Rs. 100 lakhs towards on-money payment. Accordingly, the addition of Rs. 100 lakhs is deleted.— CIT vs. P.V. Kalyanasundaram (2006) 203 CTR (Mad) 449: (2006) 282 ITR 259 (Mad) relied on” 15. The assessee relied upon the decision of Hon’ble A.P. High Court, in the case of K. Lakshmi Savitri Devi in ITA No.563 of 2011. The Hon’ble A.P. High Court, while upheld the order of ITAT ‘A’ Bench, in the case of K. Lakshmi Savitri Devi, observed as under. “We are of the view that the Tribunal has rightly held that the regi…

Sri Prakash Bhajandas Talreja, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Bengaluru

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1064/BANG/2023[2016-17]Status: HeardITAT Bangalore22 Mar 2024AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…res which cannot be allowed. Under these circumstances, there is no reason to confirm the addition of Rs. 100 lakhs towards on-money payment. Accordingly, the addition of Rs. 100 lakhs is deleted.— CIT vs. P.V. Kalyanasundaram (2006) 203 CTR (Mad) 449: (2006) 282 ITR 259 (Mad) relied on” 15. The assessee relied upon the decision of Hon’ble A.P. High Court, in the case of K. Lakshmi Savitri Devi in ITA No.563 of 2011. The Hon’ble A.P. High Court, while upheld the order of ITAT ‘A’ Bench, in the case of K. Lakshmi Savitri Devi, observed as under. “We are of the view that the Tribunal has rightly held that the regi…

Sri Prakash Bhajandas Talreja, Bengaluru vs. Deputy Commissioner of Income-Tax, Central Circle-1(3), Bengaluru

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1062/BANG/2023[2015-16]Status: DisposedITAT Bangalore22 Mar 2024AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…res which cannot be allowed. Under these circumstances, there is no reason to confirm the addition of Rs. 100 lakhs towards on-money payment. Accordingly, the addition of Rs. 100 lakhs is deleted.— CIT vs. P.V. Kalyanasundaram (2006) 203 CTR (Mad) 449: (2006) 282 ITR 259 (Mad) relied on” 15. The assessee relied upon the decision of Hon’ble A.P. High Court, in the case of K. Lakshmi Savitri Devi in ITA No.563 of 2011. The Hon’ble A.P. High Court, while upheld the order of ITAT ‘A’ Bench, in the case of K. Lakshmi Savitri Devi, observed as under. “We are of the view that the Tribunal has rightly held that the regi…

Sri Prakash Bhajandas Talreja, Bengaluru vs. Deputy Commissioner of Income-Tax, Central Circle-1(3), Bengaluru

In the result, ITA Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 are partly allowed and ITA No

ITA 1061/BANG/2023[2014-15]Status: DisposedITAT Bangalore22 Mar 2024AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiita Nos.1061 To 1066/Bang/2023 Assessment Years: 2014-15, 2015-16, 2016-17, 2016-17, 2017-18 & 2018-19 Sri Prakash Bhajandas Talreja No.402, 4Th Floor, Embassy Centre No.11, Crescent Road Dcit Bengaluru 560 001 Vs. Central Circle-1(3) Karnataka Bengaluru Pan No : Abkpt1011B Assessee Respondent Assessee By : Shri V. Srinivasan, A.R. Respondent By : Shri G. Manoj Kumar, D.R. Date Of Hearing : 01.02.2024 Date Of Pronouncement : 22.03.2024 O R D E R Per Chandra Poojari: The Appeals In Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 Are Emanated From The Common Order Of Cit(A) Central Circle, Bengaluru For The Assessment Years 2014-15 To 2018-19 Dated 16.11.2023. Ita No.1064/Bang/2023 Is Emanated From The Order Of Cit(A) Dated 11.8.2023 For The Assessment Year 2016-17 With Regard To Levy Of Penalty U/S 271Aab Of The Income Tax Act, 1961 (In Short “The Act”). Since The Issue In All These Appeals Is Common In Nature, These Are Clubbed Together, Heard Together & Disposed Of By This Common Order For The Sake Of Convenience. 2. First, We Will Take Up Ita Nos.1061, 1062, 1063, 1065 & 1066/Bang/2023 For Adjudication. The Common Ground In All These Appeals Except Change In Figures, Which Reads As Under:

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 153CSection 271ASection 69

…res which cannot be allowed. Under these circumstances, there is no reason to confirm the addition of Rs. 100 lakhs towards on-money payment. Accordingly, the addition of Rs. 100 lakhs is deleted.— CIT vs. P.V. Kalyanasundaram (2006) 203 CTR (Mad) 449: (2006) 282 ITR 259 (Mad) relied on” 15. The assessee relied upon the decision of Hon’ble A.P. High Court, in the case of K. Lakshmi Savitri Devi in ITA No.563 of 2011. The Hon’ble A.P. High Court, while upheld the order of ITAT ‘A’ Bench, in the case of K. Lakshmi Savitri Devi, observed as under. “We are of the view that the Tribunal has rightly held that the regi…

ACIT, Circle CC 15, New Delhi vs. Alka Mendiratta, Delhi

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessees are also dismissed

ITA 1864/DEL/2021[2016-17]Status: DisposedITAT Delhi08 Mar 2024AY 2016-17

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. Amit Goel, CA &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 153ASection 69

…ized document showing any cash payment, leave alone any other corroborative evidence to show that there was in fact transfer of money for which the AO has made the addition. (v) The Hon'ble Madras High Court in the case of CIT vs. P.V. Kalyanasundaram (2006) 282 ITR 259 (Madras) has held as under: "The burden of proving actual consideration in such transaction is that of the revenue. The Tribunal had given factual finding and, inter alia, held that the Apex Court in K.P. Varghese v. ITO [1991] 131 ITR 597 / 7 Taxman 13 held that the burden of proving actual consideration in such transaction is that of the reven…

ACIT, CC-15, New Delhi vs. Yash Pal Mendiratta, Delhi

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessees are also dismissed

ITA 1863/DEL/2021[2016-17]Status: DisposedITAT Delhi08 Mar 2024AY 2016-17

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. Amit Goel, CA &For Respondent: Ms. Sapna Bhatia, CIT-DR
Section 153ASection 69

…ized document showing any cash payment, leave alone any other corroborative evidence to show that there was in fact transfer of money for which the AO has made the addition. (v) The Hon'ble Madras High Court in the case of CIT vs. P.V. Kalyanasundaram (2006) 282 ITR 259 (Madras) has held as under: "The burden of proving actual consideration in such transaction is that of the revenue. The Tribunal had given factual finding and, inter alia, held that the Apex Court in K.P. Varghese v. ITO [1991] 131 ITR 597 / 7 Taxman 13 held that the burden of proving actual consideration in such transaction is that of the reven…

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., New Delhi

In the result, the appeals in ITA No

ITA 59/DEL/2022[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., New Delhi

In the result, the appeals in ITA No

ITA 58/DEL/2022[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., Delhi

In the result, the appeals in ITA No

ITA 57/DEL/2022[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1824/DEL/2021[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1823/DEL/2021[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1822/DEL/2021[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…n of India (supra) (xxxvii) Reliance was also placed on the following decisions wherein it has been held that any allegation of movement of money must be corroborated by actual evidence supporting such allegation for making addition. a) P V. Kalyansundaram: 282 ITR 259 (Mad.) affirmed in 294 ITR 49 (SC) b) Delhi High Court in case of CIT vs. Ved Prakash Choudhary: 169 Taxman 130 c) CIT vs Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g…