How many judgments cite Gaurav Triyugi Singh v. ITO?

55 judgments on BharatTax cite Gaurav Triyugi Singh v. ITO (121 Taxmann.com 86), spanning 2022 to 2026.

Which sections of the Income Tax Act does Gaurav Triyugi Singh v. ITO come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 132, Section 133(6), Section 142(1), Section 143(2).

Gaurav Triyugi Singh v. ITO

121 Taxmann.com 86High Court2020#2106 most cited

What is Gaurav Triyugi Singh v. ITO authority for?

Where an assessee proves the identity, creditworthiness, and genuineness of transactions related to credits in their books, the primary onus under Section 68 is discharged. The assessee is generally not required to explain the 'source of source' of such credits.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2022 to 2026.

Also referred to as

Gaurav Triyugi Singh v. ITO · Section 68 · identity of lender · creditworthiness of lender · genuineness of transaction · source of source · onus of proof · unsecured loans · deposits

Also reported as

423 ITR 531

Sections most often in play

Section 68 Section 143(3)Section 132 Section 133(6)Section 142(1)Section 143(2)Section 131 Section 148

Issues it is cited on

source of source section 131(1)(d)section 23(4)section 256(1)section 106 section 256 onus of proof section 131(1)shell company summons under section 131 section 23(1)surrender of income

Judgments citing Gaurav Triyugi Singh v. ITO

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 56/NAG/2022[2013-14]Status: DisposedITAT Nagpur25 Feb 2025AY 2013-14

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.53/Nag./2022 (Assessment Year : 2010-11) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G v/s Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur Appellant Respondent ITA no.54/Nag./2022 (Assessment Year : 2011-12) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G v/s Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur Appellant Respondent ITA no.55/Nag./2022 (Assessment Year : 2…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 55/NAG/2022[2012-13]Status: DisposedITAT Nagpur25 Feb 2025AY 2012-13

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 54/NAG/2022[2011-12]Status: DisposedITAT Nagpur25 Feb 2025AY 2011-12

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.53/Nag./2022 (Assessment Year : 2010-11) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G Appellant v/s Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur Respondent ITA no.54/Nag./2022 (Assessment Year : 2011-12) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G Appellant v/s Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur Respondent ITA no.55/Nag./2022 (Assessment Year…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 53/NAG/2022[2010-11]Status: DisposedITAT Nagpur25 Feb 2025AY 2010-11

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke

Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.53/Nag./2022 (Assessment Year : 2010-11) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G Appellant v/s Respondent Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur ITA no.54/Nag./2022 (Assessment Year : 2011-12) Shri Sanjay Dhanraj Jain 38, Bajiprabhu Nagar, Ramnagar Nagpur 440 001 PAN – AAGPJ8601G Appellant v/s Respondent Dy. / Asstt. Commissioner of Income Tax Circle-1(3), Nagpur ITA no.55/Nag./2022 (Assessment Year : 2…

Pooja Equiresearch Pvt Ltd, Mumbai vs. DCIT, Central Circle 8(2), Mumbai

In the result, appeal of the assessee stands allowed

ITA 5941/MUM/2024[2011-12]Status: DisposedITAT Mumbai25 Feb 2025AY 2011-12

Bench: Shri Narender Kumar Choudhry, Jm & Shri Prabhash Shankar, Am आयकर अपील सं./Ita No.5941/Mum/2024 (निर्धारण वर्ा / Assessment Year :2011-2012) Pooja Equiresearch Pvt. Ltd., Vs. Dcit, Central Circle-8(2), B-101, Hari Darshan Bhogilal Mumbai Phadia Road, Kandivali (West) स्थायी लेखा सं./Pan No. : Aaacp 6499 F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्ाारिती की ओर से /Assessee By : Ms. Dinkle Hariya & Ms. Shruti Kalyanikar राजस्व की ओर से /Revenue By : Shri Mahesh Pamnani, Sr.Dr

For Appellant: Ms. Dinkle Hariya & MsFor Respondent: Shri Mahesh Pamnani, Sr.DR

Section 133(6)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “C” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JM AND SHRI PRABHASH SHANKAR, AM आयकर अपील सं./ITA No.5941/MUM/2024 (निर्धारण वर्ा / Assessment Year :2011-2012) Pooja Equiresearch Pvt. Ltd., Vs. DCIT, Central Circle-8(2), B-101, Hari Darshan Bhogilal Mumbai Phadia Road, Kandivali (West) स्थायी लेखा सं./PAN No. : AAACP 6499 F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) निर्ाारिती की ओर से /Assessee by : Ms. Dinkle Hariya & Ms. Shruti Kalyanikar राजस्व की ओर से /Revenue by : Shri Mahesh Pamnani, Sr.DR सुनवाई की तारीख / Date of Hearing : 13/02/2025 घोषणा क…

Income Tax Officer, Mumbai vs. Ami Sandeep Sanghavi, Mumbai

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

ITA 5747/MUM/2024[2018-19]Status: DisposedITAT Mumbai26 Dec 2024AY 2018-19

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeeassessment Year : 2018-19 Income Tax Officer, Ami Sandeep Sanghavi, 501, 5Th Floor, 81-B, Heera Panna, Piramal Chamber, Vs. Bhulabhai Desai Road, Lalbaugh, Haji Ali, Mumbai. Mumbai. Pan : Adqpj8303G (Appellant) (Respondent)

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri Ram Krishna Kedia, Sr.DR

Section 68Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “A” BENCH : MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year : 2018-19 Income Tax Officer, Ami Sandeep Sanghavi, 501, 5th Floor, 81-B, Heera Panna, Piramal Chamber, vs. Bhulabhai Desai Road, Lalbaugh, Haji Ali, Mumbai. Mumbai. PAN : ADQPJ8303G (Appellant) (Respondent) For Assessee : Shri Vimal Punamiya For Revenue : Shri Ram Krishna Kedia, Sr.DR Date of Hearing : 17-12-2024 Date of Pronouncement : 26-12-2024 O R D E R PER B.R. BASKARAN, A.M : The Revenue has filed this appeal challenging the order dated…

Tara Constructions, Pune vs. The Deputy Commissioner of Income Tax, Circle-5, Pune

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 531/PUN/2024[2018-19]Status: DisposedITAT Pune23 Dec 2024AY 2018-19

Bench: Dr.Manish Borad & Shri Vinay Bhamore

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri Ajay Kumar Keshari

Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “B”, PUNE BEFORE DR.MANISH BORAD, ACCOUNTANT MEMBER AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.531/PUN/2024 Assessment Year : 2018-19 Tara Constructions, Vs. ITO, Circle-5, 609, Raviwar Peth, Pune Tarachand Ramnath Tara Arcade, Pune 411 002, Maharashtra PAN : AAEFT2796E Appellant Respondent Assessee by : Shri Neelesh Khandelwal Revenue by : Shri Ajay Kumar Keshari Date of hearing : 14.11.2024 Date of pronouncement : 23.12.2024 आदेश / ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : This appeal filed by the assessee is directed against th…

Gauranga Papers LLP, Andheri (West), Mumbai vs. Income-Tax Officer 24(1)(1), Lalbaug, Mumbai

In the result, appeal of the assessee is allowed

ITA 5302/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Dec 2024AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), MS. PADMAVATHY S (Accountant Member)

Section 133(6)Section 143(3)Section 234ASection 68

…. He further submitted that assessee is only required to prove the source of credit and not the source of source and this issue is squarely covered by the judgment of the Hon’ble Bombay High Court in the case of Gaurav Triyugi Singh vs. ITO reported in (2020) 423 ITR 531. 9. On the other hand, ld. DR referred to the various observations made by the ld. AO with regard to each and every party and submitted that ld. AO has given a detailed reasoning for rejecting the explanation given by the assessee and thus, the addition made by the ld. AO and as confirmed by the ld. CIT(A) should be upheld. 9 Gauranga Papers LLP…

Chandrakumar Madhusudanji Jajodia, Thane vs. Assistant Commissioner of Income Tax, Amravati Circle

In the result, appeal filed by the assessee is allowed

ITA 399/NAG/2023[2013-14]Status: DisposedITAT Nagpur28 Nov 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Abhay Y. Marathe

Section 143(2)Section 143(3)Section 144Section 148Section 234ASection 36(1)(iii)Section 68Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.399/Nag./2023 (Assessment Year : 2013–14) Chandrakumar Madhusudanji Jajodia SA 10 to 13, 2nd Floor, Chitalsar ……………. Appellant Manpada B.O. 400 607 PAN–AAPPJ3021M v/s Asstt. Commissioner of Income Tax ……………. Respondent Amravati Circle, Amravati Assessee by : Shri Kishore P. Dewani Revenue by : Shri Abhay Y. Marathe Date of Hearing – 07/11/2024 Date of Order – 28/11/2024 O R D E R PER K.M. ROY, A.M. The assessee has filed the captioned appeal challenging the impugned…

Ravindra Madanlal Khandelwal, Akola vs. DCIT/ACIT Circle, Akola

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke

Section 142(1)Section 143Section 144BSection 68

…ng evidences were brought on record to dislodge the materials relied upon by the assessee to prove the ingredients of section 68 of the Act. We are also fortified by the judgment of the Hon’ble Jurisdictional High Court in Gaurav Triyugi Singh v/s ITO, [2020] 423 ITR 531 (Bom.), wherein on similar issue the Hon’ble Court has observed as under:– “9. Though a number of questions have been proposed by the Appellant as substantial questions of law, we find that the following question covers the controversy in question, which is as under: Whether on the facts and in the circumstances of the case and in law, the Tribu…

Deputy Commissioner of Income Tax, Central Circel-1(2, Nagpur vs. M/S. Vibrant Global Capital Ltd., Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 229/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Oct 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 143(3)Section 14ASection 68

…23, vide order dated 23/07/2024, has considered the addition under section 68 of the Act. The relevant operative portion of the said decision is reproduced hereunder:– “11. The Honble Hight of Bombay in the case of Gaurav Triyugi Singh Vs Income Tax Officer (423 ITR 531 (Bombay) has dealt and observed as under: “12. At this stage, it would be apposite to advert to section 68 of the Act, relevant portion of which reads as under: 22 M/s. Vibrant Global Capital Ltd. ITA no.229/Nag./2022 "68. Where any sum is found credited in the books of an assessee maintained from any previous year, and the assessee offers no e…

Smt Chandradevi Gautamchand Jain, Mumbai vs. The Income Tax Officer-30(1)(2), Mumbai

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 1104/MUM/2024[2015-16]Status: DisposedITAT Mumbai19 Aug 2024AY 2015-16

Bench: Shri Anikesh Banerjee & Shri Gagan Goyalsmt. Chandra Devi Gautam Chand Jain, Flat No. 1401, Bldg. 5, Raheja Classique Co-Op. Hsg. Soc. Ltd. Behind Infinity Mall, New Link Road, Andheri West, Mumbai-400 053 Pan: Aekpc6743G ..... Appellant Vs. Ito-30(1) (2) Room No. 505, C-505, Pratyaksh Kar Bhavan, Bandra Kurla Complex, Bandra East, Mumbai- 400 051 ..... Respondent

For Appellant: Shri Sanjay Parikh, Ld. ARFor Respondent: Shri H. M. Bhatt, Ld. DR

Section 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Smt. Chandra Devi Gautam Chand Jain, Flat No. 1401, Bldg. 5, Raheja Classique Co-Op. Hsg. Soc. Ltd. Behind Infinity Mall, New Link Road, Andheri West, Mumbai-400 053 PAN: AEKPC6743G ..... Appellant Vs. ITO-30(1) (2) Room No. 505, C-505, Pratyaksh Kar Bhavan, Bandra Kurla Complex, Bandra East, Mumbai- 400 051 ..... Respondent Appellant by : Shri Sanjay Parikh, Ld. AR Respondent by : Shri H. M. Bhatt, Ld. DR Date of hearing : 11/06/2024 Date of pronouncement : 19/08…

Sankpal Developers, Mumbai vs. Income Tax Officer Ward 25(1)(1) Mumbai, Mumbai

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 280/MUM/2024[2014-15]Status: DisposedITAT Mumbai09 Jul 2024AY 2014-15

Bench: Shri Prashant Maharishi, Am M/S Sankpal Developers Income Tax Officer, 101-104, Haripriya Apartment, Ward-25(1)(1) Sundervan Complex, 203, Kautilya Bhavan, Lokhandwala Cross Road, Bandra Kurla Complex, Vs. Andheri (West), Bandra (East), Mumbai-400 053 Mumbai-400 051 (Appellant) (Respondent) Pan No. Abwfs4025Q Assessee By : Shri Jitendra Singh, Ar : Shri R.R. Makwana, Dr Revenue By Date Of Hearing: 10.06.2024 Date Of Pronouncement : 09.07.2024

For Appellant: Shri Jitendra Singh, AR

Section 132Section 143(3)Section 147Section 148Section 68

…that a company which gives loan to the assessee from year to year of huge sum and assessee fails to produce that party in each of the year and still gets away from the rigors of section 68 of the Act. The decision of the Hon'ble Bombay High Court reported in 423 ITR 531 is in favor of the Revenue which categorically says that assessee is duty bound to explain the identity of the creditor, genuineness of the transaction and creditworthiness of the creditor. The learned Assessing Officer did not ask the assessee to prove the source of source but asked the assessee to prove the source of credit in the books of the…

DCIT-CC-4(2), Mumbai vs. Rubberwala Realty, Mumbai

In the result, all the appeals of the assessee for AYs 2015-16 to

ITA 3531/MUM/2023[2018-19]Status: DisposedITAT Mumbai07 Jun 2024AY 2018-19

Bench: We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ays. Search U/S 132 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Was Conducted Against The Rubberwala Group, On 17-03-2021 Thereby Triggering Section 153A Of The Act. Prior To The Date Of Search, The Income-Tax Assessments For Ays 2015-16 To 2019-20 Were Either Completed U/S 143(1)/143(3) Of The Act And/Or The Time Limit For Issue Of Notice U/S 143(2) Of The Act Had Expired. Accordingly, The Income-Tax 3

For Respondent: Shri Sanyogita Nagpal, CIT

Section 132Section 133(6)Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…2 ITA No.3443 & Ors/Mum/2023 A.Ys. 2015-16 to 2021-22 Rubberwala Realty Revenue by: Shri Sanyogita Nagpal, CIT सुनवाई की तारीख / Date of Hearing: 08/04/2024 घोषणा की तारीख /Date of Pronouncement: 07/06/2024 PER BENCH: आदेश / ORDER All these appeals preferred by the Revenue and the assessee are against the common order of Learned Commissioner of Income Tax (Appeals) -52, Mumbai [ in short ‘ld. CIT(A)'] dated 31.07.2023 arising out of the assessment orders passed by Deputy Commissioner of Income-tax, Central Circle 4(2), Mumbai [in short 'AO'] for AYs 2015-16 to 2021-22. Since the issues involved were common, all t…

DCIT-CC-4(2), Mumbai vs. Rubberwala Housing and Infrastructure Limited, Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3508/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpal

Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM AND SHRI ABY T VARKEY, JM आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आ…

Rubberwala Housing and Infrastructure Limited, Mumbai vs. DCIT CC-4(2), Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3448/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpa

Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69ASection 69C

Humayun Ahmed Shafi Ahmed Shaikh, Mumbai vs. DCIT CC-4(2), Mumbai

In the result, the appeal of the assessee stands allowed

ITA 3433/MUM/2023[2020-21]Status: DisposedITAT Mumbai07 Jun 2024AY 2020-21

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.3433/Mum/2023 (ननधधारण वर्ा / Assessment Year: 2020-21) Humayun Ahmed Shafi बनधम/ Dcit, Central Circle-4(2) 19Th Floor, Air India Ahmed Shaikh Vs. Ground Floor, Rubberwala Building, Nariman Point, House, Dr. A Nair Road, Mumbai-400021. Agripada, Mumbai-400011. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Auwps7212G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mani Jain, Fca Revenue By: Smt Sanyogita Nagpal Cit

For Appellant: Shri Mani Jain, FCAFor Respondent: Smt Sanyogita Nagpal CIT

Section 132(4)Section 133(6)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM AND SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. No.3433/Mum/2023 (ननधधारण वर्ा / Assessment Year: 2020-21) Humayun Ahmed Shafi बनधम/ DCIT, Central Circle-4(2) 19th Floor, Air India Ahmed Shaikh Vs. Ground Floor, Rubberwala Building, Nariman Point, House, Dr. A Nair Road, Mumbai-400021. Agripada, Mumbai-400011. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AUWPS7212G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: Shri Mani Jain, FCA Revenue by: Smt Sanyogita Nagpal CIT सुनवाई की तारीख / Date of Hearing: 08/04/2024 घोषणा…

Income Tax Officer-27(3)(1), Mumbai City vs. Ravi Shankar Shendge Legal Heir of Late Smt. Suchita Ravi Shendge, Mumbai

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

ITA 2609/MUM/2023[2011-12]Status: DisposedITAT Mumbai28 May 2024AY 2011-12

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeeassessment Year : 2011-12

For Appellant: Ms. Sujatha Iyangar, Sr.ARFor Respondent: Shri Sanjay N. Kapadia

Section 133Section 148Section 68

…icer, i.e., it is the responsibility of the AO to disprove the claim of the assessee by bringing evidences on record. 9. In this regard, we may gainfully refer to the decision rendered by Hon’ble Bombay High Court in the case of Gaurav Triyugi Singh Vs. ITO (423 ITR 531)(Bom), wherein it was held as under:- “12 At this stage, it would be apposite to advert to section 68 of the Act, relevant portion of which reads as under : “68. Where any sum is found credited in the books of an assessee maintained from any previous year, and the assessee offers no explanation about the nature and source thereof or the explanat…

Dy Commissioner of Income Tax, Central Circle-3(4), Mumbai vs. Starlight System (I) LLP, Mumbai

In the result, the appeal filed by revenue is treated as allowed for statistical purposes

ITA 2167/MUM/2023[2018-2019]Status: DisposedITAT Mumbai22 Apr 2024AY 2018-2019

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadaledcit, C.Circle-3(4), Vs. Starlight System (I) Roomno1915,19Th Floor, Llp, 5Th Floor Sunteck Air India Bldg, Centre 37-40, Nariman Point, Subhash Road, Mumbai-400021. Vile Parle (E), Mumbai-400057. Pan/Gir No. : Acifs0005M Appellant .. Respondent

For Appellant: Shri Dr.Kishore Dhule.CIT-DRFor Respondent: Shri.Gaurav Kabra.AR

Section 68

…say that the addition made u/s 68 is based on assumptions and suspicions only, which cannot be accepted to be the basis of any legally valid addition in assessment. 9,8 In this regard, the Hon'ble Bombay High Court in the case of Gaurav Triyugi Singh vs ITO (423 ITR 531) has held that for the purpose of section 68 the assessee has to explain three conditions, namely, identity of creditor; genuineness of transaction; and credit worthiness of creditor. Once the loan amount was given to assessee through cheque, there was no dispute as to identity of the creditor and also there was no dispute about genuineness of V…

Reliance Corporation, Mumbai vs. Dy. CIT Central Circle - 1, Thane

In the result, all the three appeals of the assessee are allowed

ITA 2725/MUM/2023[2013-14]Status: DisposedITAT Mumbai20 Feb 2024AY 2013-14

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Singh Karhail (Jm)

Section 147Section 68

…earned AR placed his reliance on the following decisions : 5 Reliance Corporation (i) Sky Gem Vs. DCIT (ITA No. 787 to 79/Mum/2023 dated 23.8.2023) (ii) Vedartha Entertainment Ltd. (ITA No. 4233/Mum/2018 dated 28.11.2022) (iii) Gaurav Triyugi Singh Vs. ITO (423 ITR 531)(Bom) 7. The Learned DR, however support the orders passed by the learned CIT(A). He submitted that the assessee has stated in his Statement that he has not met any of the creditors from whom it has taken loans. The assessee has also admitted that it does not have any acquaintance with any of the directors/partners/ proprietors/concerned from wh…