Dhakeshwari Cotton Mills Ltd. v. CIT

Deputy Commissioner of Income Tax, Circle-2(1), Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 5/Rpr/2020) ("नधा"रण वष" / Assessment Year : 2016-17)

…770: (2004) 4 SOT 680 (Jd); (g) Bansal Strips (P) Ltd & Ors. vs. Assistant Commissioner of Income Tax (2006) 100 TTJ(Del)665 : (2006) 99 ITD 177(Del) by the Hon’ble ITAT, DELHI ”A” BENCH; (h) Dhakeshwari Cotton Mills Ltd. Vs Commissioner of Income Tax (1954) 26 ITR 775 (SC); 10.8 The appellant also relied upon the decision of the jurisdictional of High court of Chhattisgarh in M/s Ramesh Steel Industries vs. DCIT- 1(1), Raipur, Tax case (ITA) No. 48 of 2015 wherein the Hon 'ble High Court has inter alia held that power consumption in an industry may vary for various reasons, the appellant also relied upon the d…

D.C.I.T. Central Cricle, Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, appeal of the Revenue is dismissed

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 62/Rpr/2018) ("नधा"रण वष" / Assessment Year : 2013-14)

…770 : (2004) 4 SOT 680 (Jd); (g) Bansal Strips (P) Ltd & Ors. vs. Assistant Commissioner of Income Tax (2006) 100 TTJ (Del) 665 : (2006) 99 ITD (Del) by the Hon’ble ITAT, Delhi “A” Bench; (h) Dhakeswari Cotton Mills Ltd. vs. Commissioner of Income tax (1954) 26 ITR 775 (SC); 14. In totality of the facts discussed above I find no basis for adopting 89% yield and hence the addition of Rs.19,09,67,165/- is deleted and grounds No. 2 & 3 are allowed.” 6. Aggrieved by the relief granted by the CIT(A), the Revenue is in appeal before the Tribunal. 7. When the matter was called for hearing, the learned DR for the Reve…

M/S Sobha Interiors (P) Ltd vs. The Deputy Commissioner of Income Tax

In the result, both the appeals stand dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

…IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 5TH DAY OF OCTOBER, 2021 PRESENT THE HON’BLE MRS.JUSTICE S.SUJATHA AND THE HON’BLE MR. JUSTICE RAVI V. HOSMANI I.T.A.No.164/2017 C/w. I.T.A.No.166/2017 IN ITA NO.164/2017: BETWEEN : M/S SOBHA INTERIORS (P) LTD E-106, SUNRISE CHAMBERS, 322, ULSOOR ROAD, BANGALORE - 560 022. PAN: AAECS62751560022. ...APPELLANT (BY SRI ANNAMALAI, ADV. FOR SRI M.LAVA, ADV.) AND : 1. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE - 12(3) PRESENTLY CIRCLE- 6(1)(2) BMTC BUILDING, 80 FEET ROAD, KORAMANAGALA BANGALORE - 5…

Pawan Kumar Chhaparia, Mumbai vs. ITO Burhanpur, Burhanpur

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

…Bros. V/s CIT (1959 37 ITR 271). The additions made on mere presumptions could not be sustained and there must be something more than mere suspicion to support the assessment as per the decision of Hon’ble Apex Court in Dhakeshwari Cotton Mills Ltd. V/s CIT (26 ITR 775). The assessment should not be ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years –2011-12 & 2012-13 - 9 – based merely on suspicion or guess work but on legitimate material from which reasonable inference of income could have been drawn. 6.10 So far as alleged admission by Shri Anil Agarwal is concerned, we find that the sear…

Manish Chhaparia, Mumbai vs. ITO Burhanpur, Burhanpur

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

…Bros. V/s CIT (1959 37 ITR 271). The additions made on mere presumptions could not be sustained and there must be something more than mere suspicion to support the assessment as per the decision of Hon’ble Apex Court in Dhakeshwari Cotton Mills Ltd. V/s CIT (26 ITR 775). The assessment should not be ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years –2011-12 & 2012-13 - 9 – based merely on suspicion or guess work but on legitimate material from which reasonable inference of income could have been drawn. 6.10 So far as alleged admission by Shri Anil Agarwal is concerned, we find that the sear…

Manish Chhaparia, Mumbai vs. ITO Burhanpur, Burhanpur

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

…Bros. V/s CIT (1959 37 ITR 271). The additions made on mere presumptions could not be sustained and there must be something more than mere suspicion to support the assessment as per the decision of Hon’ble Apex Court in Dhakeshwari Cotton Mills Ltd. V/s CIT (26 ITR 775). The assessment should not be ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years –2011-12 & 2012-13 - 9 – based merely on suspicion or guess work but on legitimate material from which reasonable inference of income could have been drawn. 6.10 So far as alleged admission by Shri Anil Agarwal is concerned, we find that the sear…

Ashish Chhaparia, Mumbai vs. ITO Burhanpur, Burhanpur

Appeal is allowed

Bench: Shri Manish Borad& Ms. Madhumita Roy

…Bros. V/s CIT (1959 37 ITR 271). The additions made on mere presumptions could not be sustained and there must be something more than mere suspicion to support the assessment as per the decision of Hon’ble Apex Court in Dhakeshwari Cotton Mills Ltd. V/s CIT (26 ITR 775). The assessment should not be ITA Nos.199to202/Ind/2019 Ashish Chhaparia(others) vs. ITO Asst.Years –2011-12 & 2012-13 - 9 – based merely on suspicion or guess work but on legitimate material from which reasonable inference of income could have been drawn. 6.10 So far as alleged admission by Shri Anil Agarwal is concerned, we find that the sear…

Smt Krishna Agarwal, Pali vs. ITO Ward-1, Pali

In the result, the appeal filed by the assessee is allowed

…ion the addition made by AO may kindly be deleted. Further also the AO had not brought on record any contrary material or evidence in respect of legal evidences as furnished by assessee. The Hon'ble Supreme Court in Dhakeshwari Cotton Mills Ltd v/s CIT (1954) 26 ITR 775 (SC) has held that no assessment can be made based on pure guess work and without reference to the material on hand. 9. It was submitted that the addition made by ld AO without application of mind and also in causal manner as the facts narrated and observation made by AO in assessment order without analyzed the information in right perspective an…

The ITO 3(2), Indore vs. M/S. Apex Realities, Indore

In the result, the appeal filed by the assessee is dismissed

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2015-16

…se of property. Our Observations are supported by the ratio laid down in the following judicial pronouncements: 1. Umacharan Saha & Bros Co. vs CIT 37 ITR 21 (SC) 2. K.P. Varghese vs ITO (1981) 131 ITR 597 (SC) 3. Dhakeshwari Cotton Mills Ltd. vs CIT (1954) 26 ITR 775 (SC) 4. Dhiraj Lal Girdharilal vs CIT (1954) 26 ITR 736 (SC). 13. In view of the above facts in the light of the aforesaid judicial pronouncements, we are of the view that the Assessing Officer failed to discharge his onus and simply on guess work, presumption and suspicion, the addition in this regard had been made. The allegations of the Ass…

M/S. Apex Realities, Indore vs. The ITO 3(2), Indore

In the result, the appeal filed by the assessee is dismissed

Bench: Hon’Ble Rajpal Yadav & Hon’Ble Manish Boradvirtual Hearing Assessment Year 2015-16

…se of property. Our Observations are supported by the ratio laid down in the following judicial pronouncements: 1. Umacharan Saha & Bros Co. vs CIT 37 ITR 21 (SC) 2. K.P. Varghese vs ITO (1981) 131 ITR 597 (SC) 3. Dhakeshwari Cotton Mills Ltd. vs CIT (1954) 26 ITR 775 (SC) 4. Dhiraj Lal Girdharilal vs CIT (1954) 26 ITR 736 (SC). 13. In view of the above facts in the light of the aforesaid judicial pronouncements, we are of the view that the Assessing Officer failed to discharge his onus and simply on guess work, presumption and suspicion, the addition in this regard had been made. The allegations of the Ass…

Deputy Commissioner of Income Tax 1 (1), Bhopal vs. Shri Neeraj Mandloi, New Delhi

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2009-10

…n on the right side of the slip represent incomes earned by the assessee. It was conceded by the Departmental Representative that no such evidence have brought out on record. 6.2 Hon’ble Supreme Court in the case of Dhakeshwari Cotton Mills Ltd V/s CIT 1954 261 ITR 775 held that “in making assessment u/s 23(3) of the Indian Income Tax Act, the ITO is not fractured by technical rules of evidence and fluctuations and he is entitled to act on material which may not accept an evidence in the 28 Shri Neeraj Mandloi ITA No.680/Ind/2020 & C.O.No.04/Ind/2020 court of law, but the it is not entitled to make and power…