CIT v. Saini Medical Store

276 ITR 79High Court2005#20266 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2018 to 2023.

Judgments citing CIT v. Saini Medical Store

Bhoom Reddy Komatireddy, Karimnagar vs. ITO., Ward-2, Karimnagar

ITA 652/HYD/2022[2018-19]Status: DisposedITAT Hyderabad10 Oct 2023AY 2018-19

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Appellant: Shri A.V. RaghuramFor Respondent: Ms. Sheetal Sarin. Sr. AR

Section 269SSection 271Section 271D

…for any reason the taxpayer cannot get a loan or deposit by account payee cheque or demand draft for some bona fide reasons, the authority vested with the power to impose penalty has got discretionary power not to levy penalty. (ii) CIT-vs-Saini Medical Store 276 ITR 79 (PHI- It was held that if there is a genuine and .bona fide transaction then the authority vested with the power to impose penalty has got discretionary power not to levy penalty. In this case, the court had accepted version given by the assessee that violation of the provisions of the Act was under a bona fide belief of the assessee and the same…

Assistant Commissioner of Income Tax Circle- Satna vs. Shri Jammu Beg

In the result, the levy of penalty is cancelled and the appeal of the appellant is allowed

ITA 196/JAB/2016[2012-13]Status: FixedITAT Jabalpur20 Sept 2023AY 2012-13

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadaleacit, Vs. Shri Jammu Beg, Satna, M/S Mirza Transport, Madhya Pradesh. Main Road, Waidhan, Singrauli. Madhya Pradesh.

For Appellant: NoneFor Respondent: Shri Shravan Kumar Gotru, CIT-DR

Section 143(2)Section 143(3)Section 269SSection 271D

…ed out Where the explanation of the assessee that violation of provisions of s. 269SS was due to certain bona fide belief of the assessee is found to be acceptable, penalty under s 27D is untenable. [CIT vs. Saini Medical Store (2005) 198 CTR (P&H) 496 (2005) 276 ITR 79 (P&H)].In COMMISSIONER OF INCOME TAX vs. T. PERUMAL (INDL.)(2014) 90 CCH 166 Chen HC. the assessee engaged in business of civil construction and had debited various expenses like payment of accounting charges etc.. The assessee submitted that he was a labour supervisor and had no resources to finance the construction and hence he resorted to take…

Kishan Motors, Bhubaneswar vs. ITO, Ward-4(3), Bhubaneswar

In the result, appeal in ITA No

ITA 169/CTK/2018[2014-15]Status: DisposedITAT Cuttack24 Jan 2020AY 2014-15

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahu

For Appellant: Shri S.K.Agarwal, ARFor Respondent: Shri J.K.Lenka, DR

Section 143(3)Section 40Section 43B

…), in similar situation, has deleted the penalty in respect of cash loan received. Ld A.R. also relied on various judicial pronouncements before us to contend that the present case is covered by the said decisions as follows: i) CIT vs. Saini Medical Store, 276 ITR 79 (P&H) ii) Chamundi Granites (P) ltd vs DCIT, 239 ITR 694 (Kar) III) CIT vs Smt Dimpal Yadva, 379 ITR 177(All) iv) CIT vs M Yesoda, 351 ITR 265 (Mad) 32. Taking into consideration the entire conspectus of the case, first of all, we may point out that from the copies of documents available at pages 18 to 25 of paper book, we note that both the pe…

Asst CIT Cir 2, Mumbai vs. Suresh L. Wadhawa (HUF), Ulhasnagar

In the result, appeals filed by the revenue are dismissed

ITA 1703/MUM/2016[2012-13]Status: DisposedITAT Mumbai04 May 2018AY 2012-13

Bench: Shri Amarjit Singh() & Shri G Manjunatha ()

Section 143(3)Section 269SSection 271DSection 271ESection 276S

…, e} CIT vs Smt. M. Yesodha (Madras High Court) 351 ITR 265- genuine transaction between family members is a reasonable cause Q CIT vs. Dhayam Publication 285 ITR 221 (Madras) - not applicable to current account type transactions g) CIT vs Saini Medical Store 276 ITR 79 - No intention to evade taxes - No penalty. In view of the above stated facts, I am of the opinion that it is not a fit case penalty u/s. 271E of the Act on the following reasons a) the AO did the genuineness of the transactions and the appellant has proved that the payment of loan and repayment of loan by cash have been recorded in the books of a…