DCIT v. Cosmopolitan Education Society

244 ITR 494High Court2000#6613 most cited
17

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2021.

Issues it is cited on

section 73section 260section 260ashare application moneysection 132(4)section 131genuineness of the transactionsection 26salaryundisclosed incomeprevious yearsection 13

Judgments citing DCIT v. Cosmopolitan Education Society

M/S. DISHA DELPHI EDUCATIONAL SOCIETY ,NEW DELHI vs. PR.CIT, CENTRAL, JAIPUR

In the result, this appeal of the assessee stands dismissed

ITA 313/JPR/2020[2016-17]Status: DisposedITAT Jaipur27 Dec 2021AY 2016-17

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 626/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :............ Disha Delphi Education Society, Cuke Pr.Cit (Central), 334, Asiad Village, Hauz Khas, Vs. Jaipur. New Delhi-110049. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aaatd 8461 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Vk;Dj Vihy La-@Ita No. 313/Jp/2020 Fu/Kzkj.K O"Kz@Assessment Year: 2016-17 Disha Delphi Education Society, Cuke Pr.Cit (Central), Vs. 334, Asiad Village, Hauz Khas, Jaipur. New Delhi-110049. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aaatd 8461 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri P.C. Parwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri Ajay Chandra (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 05/10/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 27/12/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Common Assessee Against The Separate Order Of Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 & 29/10/2020 For The A.Y. 2016-17 In The Matter Of Order Passed U/S 2

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Ajay Chandra (CIT-DR)
Section 11Section 12ASection 13(1)Section 2Section 263

…gnated as executive member but the office bearer of the society remains the same (PB 31) as were earlier before Maheshwari brothers were inducted. 8. Reliance in this connection is placed on the following cases:-DCIT Vs. Cosmopolitan Education Society (2000) 244 ITR 494 (Raj.) (HC). It was held that if there was any misutilisation or mismanagement, action could be taken against the management of the society but it is not possible to say that any amount of the funds of the society was not utilized for educational purpose and for that reason exemption u/s 10(22) cannot be denied. The SLP filed by the department a…

DISHA DELPHI EDUCATION SOCIETY C/O- KALANI & CO. CA, 5TH FLOOR, KILESTONE BUILDING GANDHINAGAR TURN, TONK ROAD, JAIPUR,JAIPUR vs. PR. CIT(CENTRAL), JAIPUR, JAIPUR

In the result, this appeal of the assessee stands dismissed

ITA 626/JPR/2019[0]Status: DisposedITAT Jaipur27 Dec 2021

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 626/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :............ Disha Delphi Education Society, Cuke Pr.Cit (Central), 334, Asiad Village, Hauz Khas, Vs. Jaipur. New Delhi-110049. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aaatd 8461 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Vk;Dj Vihy La-@Ita No. 313/Jp/2020 Fu/Kzkj.K O"Kz@Assessment Year: 2016-17 Disha Delphi Education Society, Cuke Pr.Cit (Central), Vs. 334, Asiad Village, Hauz Khas, Jaipur. New Delhi-110049. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aaatd 8461 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri P.C. Parwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri Ajay Chandra (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 05/10/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 27/12/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Common Assessee Against The Separate Order Of Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 & 29/10/2020 For The A.Y. 2016-17 In The Matter Of Order Passed U/S 2

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Ajay Chandra (CIT-DR)
Section 11Section 12ASection 13(1)Section 2Section 263

…gnated as executive member but the office bearer of the society remains the same (PB 31) as were earlier before Maheshwari brothers were inducted. 8. Reliance in this connection is placed on the following cases:-DCIT Vs. Cosmopolitan Education Society (2000) 244 ITR 494 (Raj.) (HC). It was held that if there was any misutilisation or mismanagement, action could be taken against the management of the society but it is not possible to say that any amount of the funds of the society was not utilized for educational purpose and for that reason exemption u/s 10(22) cannot be denied. The SLP filed by the department a…

M/S. RAJASTHAN VIKAS SANSTHAN ,JODHPUR vs. CIT(E), JAIPUR

ITA 44/JODH/2020[2019-20]Status: DisposedITAT Jodhpur01 Feb 2021AY 2019-20

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwalm/S Rajasthan Vikas Sansthan, Vs. C.I.T.(E) Teesra Prahsar Bhawan, 1St A Jaipur. Road, Sardarpura, Jodhpur. Pan No. Aaatr 3975 P Assessee By Shri P.C. Parwal (Ca) Revenue By Shri K.C. Badhok, Cit-Dr Date Of Hearing 04.11.2020 Date Of Pronouncement 01/02/2021 O R D E R Per: Bench This Is The Appeal Filed By The Assessee Against The Order Of The Ld. Cit(E), Jaipur Dated 03/01/2020 Passed U/S 12Aa(3) Of The Income Tax Act, 1961 (In Short, The Act). In This Appeal, The Assessee Has Raised The Following Grounds Of Appeal: “1. The Ld. Cit(E) Has Erred On Facts & In Law In Cancelling The Registration Granted To The Assessee U/S 12Aa Of The Income Tax Act, 1961 By Incorrectly Holding That Funds Of The Trust Has Been Diverted For Purchase Of Personal Property Of The Trustees & In Form Of Highly Unreasonable Security Deposits Given To The Trustees Without Charging Interest, Thereby Violating The Provisions Of Section 13(1)(C)(Ii) R.W.S. 13(2)(A) & 13(2)(G) 1.1 The Ld. Cit(E) Has Erred On Facts & In Law In Cancelling The Registration Granted U/S 12Aa Of The Income Tax Act, 1961 By Not Considering The Decision Of Hon’Ble Itat In Assessee’S Own Case Whereby Vide Order Dated 16/12/2011 In Ita No. 11/Jodh/2011 It Was Held That It Case The Trust Fails To Comply With The Requirements As Mentioned In Section 11 & 13 Of The Act, Then Exemption Can Be Denied But Registration Cannot Be Cancelled.

Section 10Section 11Section 12ASection 13(1)(c)

…genuineness of the activities and nature of the object being charitable are not in doubt, the valuation of Section 13 is in the domain of the AO while making the assessment. The Jurisdictional High Court in the case of DCIT vs Cosmopolitan Education Society, 244 ITR 494 had an occasion to consider as to whether any misutilisation or mismanagement can be considered as a ground for refusing the registration. The Hon'ble High Court held that if there is any misutilisation or mismanagement then action can be taken against the member of the society. If the fund of the society has been utilized for educational purpose…

SETH RAMJIDAS MODI VIDHYA NIKETAN SOCIETY,KOTA vs. CIT(EXEMPTIO), JAIPUR

ITA 197/JPR/2020[2019-20]Status: DisposedITAT Jaipur10 Sept 2020AY 2019-20
For Appellant: Shri Mahendra Gargieya (Adv) &For Respondent: Shri B.K. Gupta (CIT-DR)
Section 10Section 11(5)Section 12A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh lanhi x®lkÃa] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI SANDEEP GOSAIN, JM vk;dj vihy la-@ITA No. 197/JP/2020 Seth Ramjidas Modi Vidhya cuke CIT(Exemptions), Vs. Niketan Society, Kailash Heights, Lal Kothi, 152, Modi House, Gumanpura, Tonk Road, Jaipur-302015. Kota (Rajasthan)-324007 LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAATN 1183 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by: Shri Mahendra Gargieya (Adv) & Ms. Mani…

LOKMANYA TILAD JANAKALYA SHIKSHAN SANSTHA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -2, NAGPUR

In the result, this appeal by the assessee stands partly allowed

ITA 384/NAG/2012[2008-09]Status: DisposedITAT Nagpur09 Jan 2017AY 2008-09

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

For Appellant: Shri K.P. DewaniFor Respondent: Shri A.R. Ninawe
Section 1Section 11Section 13(1)(c)Section 13(3)Section 40

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER.. I.T.A. No. 384/Nag/2012 Assessment Year : 2008-09. Lokmanya Tilak Janakalyan Asstt. Commissioner of Income-tax, Shikshan Sanstha, Nagpur. Vs. Circle-2, Nagpur. PAN AAATL3003C. Appellant. Respondent. Appellant by : Shri K.P. Dewani. Respondent by : Shri A.R. Ninawe. Date of Hearing : 22-11-2016 Date of Pronouncement : 9th January, 2017. O R D E R. PER SHAMIM YAHYA, A.M. : This appeal by the assessee is directed against the order of learned CIT(Appeals)- I, Nagpur date…

ADIT (E), NEW DELHI vs. HAMDARD NATION FOUNDATION (INDIA), NEW DELHI

In the result, the appeal of the revenue is allowed for statistical

ITA 1985/DEL/2012[2007-08]Status: DisposedITAT Delhi25 Oct 2016AY 2007-08

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. A.K. Saroha, CIT/DRFor Respondent: Sh. R.M. Mehta, Advocate
Section 11Section 11(1)Section 12ASection 13(2)(b)Section 13(3)Section 143(1)Section 143(3)Section 80G(5)(vi)

…ety, (2011) 330 ITR 21 (P&H). (viii). Commissioner of Income-tax vs. Sheth Manilal Ranchhoddas Vishram Bhavan Trust reported in 198 ITR 598 (Guj.). (ix). CIT vs. Raghubir Saran Charitable Trust, 183 ITR 297 (Del.) (x). DCIT vs. Cosmopolitan Education Society, 244 ITR 494 (Raj.) (xi). CIT vs. Karimia Trust, 302 ITR 57 (Jhar). 8 ITA No.1985 & CO 231/Del./2012 8. We have considered the rival submissions and have perused the entire materials available on record including the findings of the ld. CIT(A) recorded in the impugned order. We find that the ld. CIT(A) while deciding the issue whether the assessee has vi…

INDIAN EDUCATION SOCIETY,HISAR vs. CIT, HISAR

The appeal is allowed

ITA 941/DEL/2013[]Status: DisposedITAT Delhi26 Apr 2016

Bench: Shri I.C. Sudhir & Shri O.P. Kant Assessment Year: -- Indian Education Society, Vs. Cit 705- Yadav Colony, Aayakar Bhawan, Hisar (Hr.) Hisar (Hr.) (Pan: Aaati3921J) (Appellant) (Respondent) Assessee By: S/Shri Dinesh Gupta, Ca & Raja Kumar, Adv. Department By: Shri A.K. Saroha, Cit(Dr) Date Of Hearing : 28 .01.2016 Date Of Pronouncement: 26 :04.2016 Order Per I.C. Sudhir:The Appellant – Indian Education Society (The Society For Short) Has Preferred This Appeal Against The Cancellation Of Registration Under Section 12Aa Of The Income-Tax Act, 1961 By The Learned Cit On The Following Four Grounds: 1. On The Facts & In The Circumstances Of The Case & In Law, The Cit Erred In Holding That The Assessee Society Did Not Exist For Educational Purposes, Without Assigning Any Cogent Reasoning For This Conclusion; 2. On The Facts & In The Circumstances Of The Case & In Law, The Cit Erred In Ordering Cancellation Of The Assessee’S Registration Under Section 12-Aa Of The Income-Tax Act;

For Appellant: S/Shri Dinesh Gupta, CA & RajaFor Respondent: Shri A.K. Saroha, CIT(DR)
Section 12Section 12ASection 133A

…of imparting education by the Society there was just no authority or power with Commissioner to cancel the Registration u/s 12AA of the Act. The Learned AR cited the judgment of the Hon’ble Rajasthan High Court in DCIT v. Cosmopolitan Education Society (2000) 244 ITR 494(Raj.). 4.7 The Learned AR argued that it is an established principle that the cancellation of registration u/s 12AA of the Act has to await an assessment. He referred the decision in the case of Kalinga Institute of Industrial Technology v. CIT (2008) 23 SOT 74 (Cut). In the instant case the Commissioner has put the cart before the horse by canc…

THE CORBETT EDUCATIONAL SOCIETY,UTTRAKHAND vs. CIT, HALDWANI

In the result, the appeal of the assessee is dismissed

ITA 5581/DEL/2014[]Status: DisposedITAT Delhi30 Mar 2016

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: Nil The Corbett Educational Society, Vs. Commissioner Of Income Tax, Hariyawala Chowk, Kashipur, Khurana Complex, Nainital Road, Distt.- Udham Singh Nagar, Haldwani. Uttarakhand. (Pan: Aabtt2988H ) (Appellant) (Respondent)

Section 10Section 12ASection 13(3)Section 133ASection 2(15)

…of various cases, however at the time of hearing he relied on the following cases: 7 ITA No. 5581/Del.2014, The Corbett Education Society 1. Fifth General Education Society versus CIT (1990) 185 ITR 634 2. DCIT versus Cosmopolitan Educational Society (2000) 244 ITR 494 (Raj) 3. DIT versus Parivar Sewa Sansthan (2002) 254 ITR 268 (Del) 4. Orpat charitable trust versus CIT (2002) 256 ITR 690 (Guj) 5. Guru Govind Singh Education Society versus CIT (2009) 118 ITD 207 (ASR) 6. CIT versus Spring Dale education society (2011) 204 Taxmann 11 (P & H) 7. DIT versus JITO Channai chapterr (2012) 204 Taxmann 157 (Madras) 8.…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD.

The appeals are allowed

ITA-1107/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3957-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD.

The appeals are allowed

ITA-1106/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3956-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD.

The appeals are allowed

ITA-1105/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3955-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHT CHAY VYAPAR LTD

The appeals are allowed

ITA - 1107 / 2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3957-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

CIT vs. VISHISHTH CHAY VYAPAR LTD

The appeals are allowed

ITA - 1106 / 2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3956-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD

The appeals are allowed

ITA - 1105 / 2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3955-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD

The appeals are allowed

ITA/1107/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3957-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD

The appeals are allowed

ITA/1105/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3955-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

COMMISSIONER OF INCOME TAX vs. VISHISHTH CHAY VYAPAR LTD

The appeals are allowed

ITA/1106/2010HC Delhi30 Apr 2015
For Appellant: Mr Rohit Madan and Mr Ruchir BhatiaFor Respondent: Mr Ajay Vohra, Sr Adv. with Ms Kavita
Section 260A

…relying on the following decisions:- “CIT Vs Dhawan Investment and Trading Co. Ltd. (1999) 238 ITR 486 (Cal); 2015:DHC:3956-DB ITA Nos. 1105/2010, 1106/2010 & 1107/2010 Page 20 of 31 CIT Vs Currency Investment Co. Ltd. (2000) 244 ITR 494 (Cal); CIT Vs Carbo Industrial Holdings Ltd. (2000) 244 ITR 422 (Cal); CIT Vs Kundan Investment Ltd. (2003) 263 ITR 626: & CIT Vs Janki Textiles & Industries Ltd.(2003) 132 Taxman 231 (Gau).” 33. The CIT(A) failed to consider any of the reasons provided by the AO for holding the transactions to be not genuine; CIT(A) did not addr…

DCIT v. Cosmopolitan Education Society (244 ITR 494) — Cited in 17 Judgments | BharatTax