Commissioner of Income Tax v. AKJ Granites P.Ltd.

301 ITR 298High Court2008#4024 most cited

What is Commissioner of Income Tax v. AKJ Granites P.Ltd. authority for?

When share applications are accompanied by share application money, no presumption can be drawn that the money belongs to the assessee. Therefore, no amount can be assessed as undisclosed income of the assessee solely on this basis under Section 68.

29

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2011 to 2024.

Also referred to as

CIT v AKJ Granites · Section 68 · share application money · genuineness of transaction · undisclosed income · presumption · no presumption of ownership · CIT v Barkha Synthetics

Sections most often in play

Section 131Section 132(1)Section 153ASection 153CSection 68Section 69
Read the full judgment

Issues it is cited on

share application moneygenuineness of the transactionsection 131undisclosed incomesection 68section 69transferpersoncompanyindiadocument

Judgments citing Commissioner of Income Tax v. AKJ Granites P.Ltd.

Commissioner of Income Tax vs. Vijay Foils P.Ltd

Appeals of the assessee are allowed

ITA/29/2010HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68Section 68o

…d In favouroftheassessee.Accordingly,thisappeaIis dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Cammissioner of Income Tax Vs, AKJ Granites (F) Ltd. reported as 301 ITR 298 (Raj.)andtheargumentsweredea|twithinthefol|owing mannerl *3. So far as question No' 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in tlre said question has already been decided by this Court and governed by the ratio laid down in tsarkha Synthetics Ltd' Vs' Asst. CIT (2OO5) 197 CTR (Rai') 432' It has b…

CIT vs. Jh Finvest Pvt Ltd

Appeals of the assessee are allowed

ITA/1710/2010HC Delhi23 Dec 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68Section 68o

…d In favouroftheassessee.Accordingly,thisappeaIis dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Cammissioner of Income Tax Vs, AKJ Granites (F) Ltd. reported as 301 ITR 298 (Raj.)andtheargumentsweredea|twithinthefol|owing mannerl *3. So far as question No' 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in tlre said question has already been decided by this Court and governed by the ratio laid down in tsarkha Synthetics Ltd' Vs' Asst. CIT (2OO5) 197 CTR (Rai') 432' It has b…

Infomediary India Pvt Ltd vs. Comissioner of Income Tax

Appeals of the assessee are allowed

ITA - 1228 / 2010HC Delhi23 Dec 2011
Section 68Section 68o

…d In favouroftheassessee.Accordingly,thisappeaIis dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Cammissioner of Income Tax Vs, AKJ Granites (F) Ltd. reported as 301 ITR 298 (Raj.)andtheargumentsweredea|twithinthefol|owing mannerl *3. So far as question No' 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in tlre said question has already been decided by this Court and governed by the ratio laid down in tsarkha Synthetics Ltd' Vs' Asst. CIT (2OO5) 197 CTR (Rai') 432' It has b…

Commissioner of Income Tax-III vs. Sham Mohan Pvt Ltd

Appeals of the assessee are allowed

ITA - 726 / 2011HC Delhi23 Dec 2011

…d In favouroftheassessee.Accordingly,thisappeaIis dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Cammissioner of Income Tax Vs, AKJ Granites (F) Ltd. reported as 301 ITR 298 (Raj.)andtheargumentsweredea|twithinthefol|owing mannerl *3. So far as question No' 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in tlre said question has already been decided by this Court and governed by the ratio laid down in tsarkha Synthetics Ltd' Vs' Asst. CIT (2OO5) 197 CTR (Rai') 432' It has b…

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

Appeals of the assessee are allowed

ITA - 1324 / 2008HC Delhi23 Dec 2011

…f the assessee. Accordingly, this appeal is dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Commissioner of Income Tax Vs. A/0 Granites (P) Ltd. reported as 301 ITR 298 (Raj.) and the arguments were dealt with in the following manner: ITA No.972 of 2009 "3. So far as question No. 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in the said question has already been decided by this Court and governed by the ratio laid down in Barkha Synthetics Ltd. Vs. Asst. CIT…

Commissioner of Income Tax vs. Vijay Foils P.Ltd

Appeals of the assessee are allowed

ITA - 29 / 2010HC Delhi23 Dec 2011
Section 68Section 68o

…d In favouroftheassessee.Accordingly,thisappeaIis dismissed." 18. Rajasthan High Court had an occasion to deal with the submission of the Revenue predicated on Benami transactions in the case of Cammissioner of Income Tax Vs, AKJ Granites (F) Ltd. reported as 301 ITR 298 (Raj.)andtheargumentsweredea|twithinthefol|owing mannerl *3. So far as question No' 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in tlre said question has already been decided by this Court and governed by the ratio laid down in tsarkha Synthetics Ltd' Vs' Asst. CIT (2OO5) 197 CTR (Rai') 432' It has b…

Commissioner of Income Tax vs. Up Bone Mills India Ltd

ITA/2094/2010HC Delhi31 Jan 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 68

…assessee. Accordingly, this appeal is dismissed." 18. Rajasthan High Court had an occasion to deal with the submission 19. of the Revenue predicated on Benami transactions in the case of Commissioner of Income Tax Vs. AK) Granites (P) Ltd. reported as 301 ITR 298 (Raj.} and the arguments were dealt with in the following manner: "3. So far as question No. 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in the said question has already been decided by this Court and governed by the ratio laid down in Barkha Synthetics Ltd. Vs. Asst. CIT (2005) 197 CTR (Raj.)…

Commissioner of Income Tax vs. Oasis Hospitalities (Pvt.) Ltd

ITA-2093/2010HC Delhi31 Jan 2011
Section 68

…ial questions of law framed in this appeal are to be answered against the revenue and in favour of the assessee. Accordingly, this appeal is dismissed.” 18 Rajasthan High Court had an occasion to deal with the submission 2011:DHC:567-DB reported as 301 ITR 298 (Raj.) and the arguments were dealt with in the following manner: “3. So far as question No. 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in the said question has already been decided by this Court and governed by the ratio laid down in Barkha Synthetics Ltd. Vs. Asst. CIT (2005) 197 CTR (Raj.)…

CIT vs. Oasis Hospitalities Pvt Ltd

ITA - 2093 / 2010HC Delhi31 Jan 2011
Section 68

…ial questions of law framed in this appeal are to be answered against the revenue and in favour of the assessee. Accordingly, this appeal is dismissed.” 18 Rajasthan High Court had an occasion to deal with the submission 2011:DHC:567-DB reported as 301 ITR 298 (Raj.) and the arguments were dealt with in the following manner: “3. So far as question No. 1 is concerned, it is stated by learned counsel for the appellant that the issue embedded in the said question has already been decided by this Court and governed by the ratio laid down in Barkha Synthetics Ltd. Vs. Asst. CIT (2005) 197 CTR (Raj.)…