Gumani Ram Siri Ram v. CIT

98 ITR 337High Court1975#5321 most cited

What is Gumani Ram Siri Ram v. CIT authority for?

Section 68 applies to all credit entries, regardless of who they are in the name of, and the assessing officer can add such sums as income if they are found to be not genuine after inquiry.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

Gumani Ram Siri Ram v. CIT · Section 68 · unexplained credit · credit entries · genuineness of transaction · onus of proof · CIT v. Gumani Ram Siri Ram · 98 ITR 337

Sections most often in play

Section 68Section 147Section 131Section 133(6)Section 142(1)Section 144Section 148Section 2(12)

Issues it is cited on

onus of proofsection 44adshare application moneysection 44addition u/s 68income-tax officergenuineness of the transactionundisclosed incomesection 133unexplained cash creditsection 68section 133(6)

Judgments citing Gumani Ram Siri Ram v. CIT

ITO, Ward - 36(1), Kolkata vs. Shri Rakesh Agarwal, Kolkata

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

ITA 2008/KOL/2017[2013-14]Status: DisposedITAT Kolkata19 Dec 2018AY 2013-14

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2008/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14)

For Appellant: Shri K. Mondal, Sr. DRFor Respondent: None
Section 143(3)Section 57Section 68

…the exact source of the cash credits (72 ITR 807 (SC). The burden to locate the source lies upon the assessee and he is required to explain the genuineness of the credit entry. However, in certain circumstances, this onus might shift on the Assessing Officer (98 ITR 337), In 171 ITR 373 (Madras) it was held that the production of discharged hundies and under section 68. Thereupon the burden shifted to the department to examine creditors and to provide an opportunity to the assessee to cross examine their bankers. In the matter of the furnishing of the names and addresses of the creditors, it has been held in case…

Kuldeep Kumar Gupta, Baraut vs. ITO, Baraut

In the result, the appeal of the assessee is allowed in part for

ITA 3566/DEL/2013[2008-09]Status: DisposedITAT Delhi16 Nov 2017AY 2008-09

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K. Narsimha Chary

Section 37(1)Section 40Section 68

…ompensation from Insurance Company. AO did not 4 accept this explanation of the assessee and holding that there was no evidence explaining the other cash credit amounts also, and placing reliance on the decision reported in Gumani Ram Siri Ram vs. CIT (1975) 98 ITR 337 (P&H). AO made the addition of the entire amount. Ld. CIT (A) agreed with the AO and sustained the additions made. 4. It is the argument of the Ld. AR that both the parties below recorded that the assessee produced the affidavits of the lenders of Rs. 1 lakh but only on suspicion as to their financial capacity the addition was made without point…