Commissioner of Income Tax v. Deen Dayal Choudhary

Income Tax Officer, Jaipur vs. Goldendunes Heights LLP, Jaipur

Bench: Him.

…g such credits as its incomes from unexplained sources, a nexus has to be established by revenue that sources of creditors' deposit flow from assessee - Held, yes Commissioner of Income Tax vs. Deen Dayal Choudhary [2017] 88 taxmann.com 475 (Rajasthan)/[2017] 293 CTR 468 (Rajasthan)[15-07-2016] Section 68 of the Income-tax Act, 1961 - Cash credit (Loan) - Assessment year 2008-09 - Where all cash creditors had not only placed on record entire material but had also affirmed in their examination that they had advanced money to assessee from their own respective bank accounts, no question of law arose from Tribunal's…

Aman Exports International, Jaipur vs. DCIT Circle 1, Jaipur

In the result, appeal of the assessee is partly allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

…r of assessee. Where in respect of credit entries, the assessee established identity of all creditors by providing PANs and addresses beyond reasonable doubts. The Hon’ble Rajasthan High Court in the case of Commissioner of Income Tax vs. Deen Dayal Choudhary 293 CTR 468 (Raj) have held that Income—Cash credit— Genuineness—Both the appellate authorities, after taking note of the facts and going through the statements of three cash creditors, have come to a definite finding that not only the identity was established but the genuineness and creditworthiness of the creditors were well proved—All the cash creditors h…