Free India Assurance Services Ltd. v. DCIT

132 ITD 60Income Tax Appellate Tribunal2011#5615 most cited

What is Free India Assurance Services Ltd. v. DCIT authority for?

Purchases made through banking channels are not necessarily bogus if the assessee has a high gross profit ratio, even if suppliers are listed as hawala dealers or cannot be produced.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Free India Assurance Services Ltd. v. DCIT · section 40A(3) · bogus purchases · banking channels · hawala dealers · gross profit ratio

Also reported as

62 DTR 34912 Taxmann.com 424

Issues it is cited on

permanent account numbersection 48section 145section 133section 69csection 133(6)notice under section 148reassessment proceedingsundisclosed incomesection 69section 13section 148

Judgments citing Free India Assurance Services Ltd. v. DCIT

ACIT 25(3), Mumbai vs. Rajeev G Kalathil, Mumbai

In the result, the appeal of the revenue stands dismissed and the cross-objection filed by the assessee is also dismissed

ITA 5312/MUM/2013[2010-11]Status: DisposedITAT Mumbai05 Feb 2016AY 2010-11

Bench: S/Shri B.R.Baskaran & Shri Sandeep Gosainआयकर अपीऱ सं./I.T.A. No.5312/Mum/2013 (निर्धारण वर्ा / Assessment Year :2010-11) बिधम/ Dy. Commissioner Of Income Rajeev G Kalathil, Tax -25(3), M-605, Regency Park, Vs. 308, C-11, Rna Millennium Township, Bandra-Kurla Complex, M G Road, Kandivali (W), Bandra (E), Mumbai-400067 Mumbai-400051 (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Devendra JainFor Respondent: Shri Uday B Jakke
Section 69C

…1 CO No.249/M/14 आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “डी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI सर्वश्री बी.आर.बास्करन, ऱेखा सदस्य एवं संदीप गोसाई, न्याययक सदस्य के सभऺ BEFORE S/SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आयकर अपीऱ सं./I.T.A. No.5312/Mum/2013 (निर्धारण वर्ा / Assessment Year :2010-11) बिधम/ Dy. Commissioner of Income Rajeev G Kalathil, Tax -25(3), M-605, Regency Park, Vs. 308, C-11, RNA Millennium Township, Bandra-Kurla Complex, M G Road, Kandivali (W), Bandra (E), Mumbai-400067 Mumbai-400051 (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .…