Deputy Commissioner of Income-tax v. Paswara Papers Ltd.

159 Taxmann.com 604High Court2024#5428 most cited

What is Deputy Commissioner of Income-tax v. Paswara Papers Ltd. authority for?

Addition under section 68 for loans is not warranted if the assessee discloses creditor names, establishes payment through banking channels, and the existence of deposits is undisputed, especially when loans arise from the sale of jewellery.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2025 to 2025.

Also referred to as

Deputy Commissioner of Income-tax v. Paswara Papers Ltd. · section 68 · loan addition · source of loan · jewellery sale · banking channel · creditworthiness · genuineness of transaction · unsecured loan

Sections most often in play

Section 68Section 142(1)Section 250Section 131Section 132Section 133(6)Section 143(2)Section 148

Issues it is cited on

bogus share capitalsource of sourcepreponderance of probabilitycreditworthiness of the creditorshell companyaddition under section 68section 246share application moneysection 250(4)section 41rule 46adocuments seized

Judgments citing Deputy Commissioner of Income-tax v. Paswara Papers Ltd.

Om Prakash Tantia, Faridabad vs. DCIT, Central Circle-25, New Delhi

ITA 4737/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Mar 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 132Section 143(1)Section 143(2)Section 147Section 148

…ITA Nos. 4729, 4737, 4740, 1389/Del/2024 & C.O.Nos. 29, 30, 31/Del/2025 & 92/Del/2024 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 4729, 4737, 4740, 1389/Del/2024 & C.O.Nos. 29, 30, 31/Del/2025 & 92/Del/2024 (Assessment Years 2016-17, 2017-18, 2018-19 & 2021-22) Sl. ITA/CO No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. 4729/Del/2024 2016-17 ACIT, Grand Estates LLP, Delhi B-66, Defence Colony, South Delhi, Delhi-110024. PAN-AAMFG4277F 2. C.O-29/Del/2025 2016…