Commissioner of Income Tax, Chennai v. M/s. Accel Limited 421 of

423 ITR 180High Court2020#2873 most cited

What is Commissioner of Income Tax, Chennai v. M/s. Accel Limited 421 of authority for?

An addition to income cannot be made solely on the basis of a transaction, especially when its bona fides are established and the department does not allege the sale to be bogus.

41

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2026.

Also referred to as

Accel Limited · section 142 · section 143(3) · addition cannot be basis · bona fides established · sale not bogus

Sections most often in play

Section 1961Section 142(1)Section 143(3)Section 14ASection 263Section 54ESection 54FSection 54G

Issues it is cited on

disallowance under section 14aerroneous and prejudicialsection 14asection 263section 26section 142section 142(1)section 143companysection 14section 143(3)india

Judgments citing Commissioner of Income Tax, Chennai v. M/s. Accel Limited 421 of

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Apeejay Shipping Ltd

In the result, these appeals are allowed and the substantial

ITA/26/2021HC Calcutta08 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…to support such proposition, reliance was placed on the decision of the High Court of Madras in The Commissioner of Income Tax, Chennai Versus M/s. Accel Limited 421 of 2012 dated 02.08.2021. 60 423 ITR 180 (Kolkata) 61 286 ITR 126 (Raj) 62 211 ITR 206 (All) 63 178 ITR 598 (All) 64 (2004) 270 ITR 157 (MP) 65 (1998) 238 ITR 963 (Mad) ITAT NO. 06 OF 2022 AND ETC. BATCH Page 62 of 150 Reliance was also placed on the decision of the High Court of Rajasthan in Smt. Harshila Chordia Versus Income-Tax Officer 298 ITR 349 (Rajasthan). Furthe…