(ii) Umesh Electricals v. Asst. CIT

131 ITD 127Income Tax Appellate Tribunal2011#5952 most cited
19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Issues it is cited on

section 40a(2)(a)principal officersource of sourcesection 40a(2)(b)section 40a(2)mercantile system of accountingsection 127childcommercial expediencysection 40aunexplained expendituresearch assessment

Judgments citing (ii) Umesh Electricals v. Asst. CIT

ACIT CENTRAL -2, BHOPAL vs. SHRI NARESH THARANI , BHOPAL

In the result, the appeals of revenue are dismissed and COs of the assessee are partly allowed for statistical purposes

ITA 113/IND/2021[2015-16]Status: DisposedITAT Indore30 Oct 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniit(Ss)A No.108/Ind/2021 & Acit Central-2 Shri Naresh Tharani Bhopal E-2/149, Arera Colony Vs. Bhopal (Appellant / Revenue) (Assessee) Pan: Aampt6514G

Section 153C

…it is clear that the appellant has satisfied all the three conditions required for genuineness of the transaction. The same view has been upheld by Honb'le ITAT in the following cases:- i.Umesh Electricals v/s Asst. CIT(2011) 18 ITJ 635 (Trib.- Agra): (2011) 131 ITD 127 : (2011) 141 TTJ Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, it…

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 230/IND/2021[2017-18]Status: DisposedITAT Indore30 Mar 2023AY 2017-18

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…ed in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, reported in (2003) 182 CTR 373 (Guj) ix. Aseem Singh vs. ACIT, reported in (2012) 19 TTJ 52 (ITAT, Indore) x. Umesh Electricals vs. ACIT, reported in (2011) 131 ITD 127 xi. Saraogi Credit Corporation vs. CIT, reported in (1976) 103 ITR 0344 (Patna HC) xii. Addl.CIT vs. Bahari Brothers, reported in 154 ITR 244 (Patna HC) xiii. Nemichand Kothari vs. CIT, reported in 264 ITR 254 (Gauhati HC) xiv. DCIT vs. Smt. Namita Patwa, reported in (2018) 32 ITJ 123 (ITAT, Indore) 23. The Ld. CIT(A) while dealing with this iss…

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 229/IND/2021[2014-15]Status: DisposedITAT Indore30 Mar 2023AY 2014-15

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…ed in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, reported in (2003) 182 CTR 373 (Guj) ix. Aseem Singh vs. ACIT, reported in (2012) 19 TTJ 52 (ITAT, Indore) x. Umesh Electricals vs. ACIT, reported in (2011) 131 ITD 127 xi. Saraogi Credit Corporation vs. CIT, reported in (1976) 103 ITR 0344 (Patna HC) xii. Addl.CIT vs. Bahari Brothers, reported in 154 ITR 244 (Patna HC) xiii. Nemichand Kothari vs. CIT, reported in 264 ITR 254 (Gauhati HC) xiv. DCIT vs. Smt. Namita Patwa, reported in (2018) 32 ITJ 123 (ITAT, Indore) 23. The Ld. CIT(A) while dealing with this iss…

DCIT CENTRAL-1, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 228/IND/2021[2013-14]Status: DisposedITAT Indore30 Mar 2023AY 2013-14

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…ed in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, reported in (2003) 182 CTR 373 (Guj) ix. Aseem Singh vs. ACIT, reported in (2012) 19 TTJ 52 (ITAT, Indore) x. Umesh Electricals vs. ACIT, reported in (2011) 131 ITD 127 xi. Saraogi Credit Corporation vs. CIT, reported in (1976) 103 ITR 0344 (Patna HC) xii. Addl.CIT vs. Bahari Brothers, reported in 154 ITR 244 (Patna HC) xiii. Nemichand Kothari vs. CIT, reported in 264 ITR 254 (Gauhati HC) xiv. DCIT vs. Smt. Namita Patwa, reported in (2018) 32 ITJ 123 (ITAT, Indore) 23. The Ld. CIT(A) while dealing with this iss…

ASSISTANT COMMISSIONER OF INCOME TAX- 2(1), INDORE vs. M/S. IDEAL ASHIYANA PRIVATE LIMITED, INDORE

ITA 528/IND/2018[2013-14]Status: DisposedITAT Indore15 Dec 2022AY 2013-14

Bench: Ms. Madhumita Roy & Shri B.M. Biyaniassessment Year: 2013-14 Acit-2(1) M/S Ideal Ashiyana Indore Private Ltd., Indore बनाम/ Vs. (Appellant / Revenue) (Respondent / Assessee) Pan: Aadci 0029 F Assessee By Shri Pankaj Shah, Ar Revenue By Shri P.K. Mitra, Cit-Dr Date Of Final Hearing 27.09.2022 Date Of Pronouncement 15.12.2022

Section 143(2)Section 143(3)Section 40A(3)

…red for genuineness of the transaction. It is also to be mentioned that most of the customers are assessed to tax. The same view has been upheld by Honb’le ITAT in the following cases:- i. Umesh Electricals v/s Asst. CIT (2011) 18 ITJ 635 (Trib.-Agra): (2011) 131 ITD 127 : (2011) 141 TTJ: Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was Page 5 of 16 M/s Ideal Ashiyana Private Ltd. Assessment year 20…

THE ACIT, CENTRAL-1, INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

ITA 232/IND/2021[2012-13]Status: DisposedITAT Indore24 Nov 2022AY 2012-13

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3)Section 37Section 40A(3)Section 40a

…st a substantial que, having regard to the fact that Lovely Exports (SC) was cited and applied. For these reasons, there is no merit in the appeal; the same is accordingly dismissed.” (ii) Umesh Electricals v/s Asst. CIT(2011) 18 ITJ 635 (Trib.-Agra): (2011) 131 ITD 127 : (2011) 141 TTJ Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, it…

THE AIT,ENTRAL-1, INDORE vs. SURYA INFRAVENTURE P LTD, INDORE

ITA 217/IND/2021[201-13]Status: DisposedITAT Indore24 Nov 2022

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3)Section 37Section 40A(3)Section 40a

…st a substantial que, having regard to the fact that Lovely Exports (SC) was cited and applied. For these reasons, there is no merit in the appeal; the same is accordingly dismissed.” (ii) Umesh Electricals v/s Asst. CIT(2011) 18 ITJ 635 (Trib.-Agra): (2011) 131 ITD 127 : (2011) 141 TTJ Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, it…

THE ACIT, CIRCLE 2(1), INDORE vs. M/S SURYA INFRA VENTURE PVT. LTD., INDORE

ITA 216/IND/2021[2010-11]Status: DisposedITAT Indore24 Nov 2022AY 2010-11

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

Section 143(3)Section 37Section 40A(3)Section 40a

…st a substantial que, having regard to the fact that Lovely Exports (SC) was cited and applied. For these reasons, there is no merit in the appeal; the same is accordingly dismissed.” (ii) Umesh Electricals v/s Asst. CIT(2011) 18 ITJ 635 (Trib.-Agra): (2011) 131 ITD 127 : (2011) 141 TTJ Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, it…

ACIT 2 (1), INDORE vs. M/S JILA INDUSTRIES LTD, DHAR

In the result this appeal of Revenue is dismissed

ITA 806/IND/2018[10-11]Status: DisposedITAT Indore25 Feb 2022

Bench: Ms.Suchitra R.Kamble & Shri Bhagirath Mal Biyanivirtual Hearing Assessment Year: 2010-11 Acit-2(1), Indore M/S. Jiji Industries Ltd., (Formerly Known As बनाम/ Krishna Profiles Pvt. Ltd.), Vs. Plot No.316, Sejwaya, Billod, Dhar (Mp) (Appellant) (Respondent ) P.A.N. - Aacck 1383 M Revenue By Shri P.K. Mitra, Cit-Dr Respondent By Shri S.S. Deshpande, Ca Date Of Hearing: 02.02.2022 Date Of Pronouncement: 25.02.2022

Section 143(3)

…the credit parties are assessed to tax. The AO in the remand report dated 08/05/2018 has not commented adversely. The same view has been upheld by Hon’ble ITAT in the following cases:- i. Umesh Electricals v/s Asst. CIT (2011) 18 ITJ 635 (Trib.- Agra): (2011) 131 ITD 127 : (2011) 141 TTJ Establishment of identity and credit-worthniness proved – Assessee produced the bank account of creditor in his bank account on the same day on which loan was given – Assessee furnished the cash flow statement of creditor-Based on inquiry, AO noted that creditor was engaged in providing accommodation entries – HELD - In group cas…

DCIT,CENTRAL-2, BHOPAL vs. M/S SIGNATURE BUILDERS AND COLONISER, BHOPAL

In the result, both the departmental appeals i

ITA 219/IND/2020[2014-15]Status: DisposedITAT Indore21 Dec 2021AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year: 2014-15 Dcit, Central-Ii, Bhopal … Appellant Vs. M/S. Signature Colonisers, Bhopal Pan – Abxfs 0002 J … Respondent Assessment Year: 2014-15 Dcit, Central-Ii, Bhopal … Appellant Vs. M/S. Signature Builders & Colonisers, Bhopal Pan – Accfs 9498 Q … Respondent

Section 69

…the assessee had satisfied all the three conditions required for genuineness of the transaction. Our view is supported by the ratio laid down in the following judicial pronouncements: a. Umesh Electricals vis Asst. CIT(2011) 18 IT] 635 (Trib.Agra): (2011) 131 ITD 127: (2011) 141 TTJ Signature Coloniser/Builder 27 ITA 218 and 219 of 2020 Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor- Based on inquiry, AO noted that creditor was engaged in…

DCIT-CENTRAL-2, BHOPAL vs. M/S SINGNATURE COLONISERS, BHOPAL

In the result, both the departmental appeals i

ITA 218/IND/2020[2014-15]Status: DisposedITAT Indore21 Dec 2021AY 2014-15

Bench: Shri Rajpal Yadav, Vice- & Shri Manish Boradvirtual Hearing Assessment Year: 2014-15 Dcit, Central-Ii, Bhopal … Appellant Vs. M/S. Signature Colonisers, Bhopal Pan – Abxfs 0002 J … Respondent Assessment Year: 2014-15 Dcit, Central-Ii, Bhopal … Appellant Vs. M/S. Signature Builders & Colonisers, Bhopal Pan – Accfs 9498 Q … Respondent

Section 69

…the assessee had satisfied all the three conditions required for genuineness of the transaction. Our view is supported by the ratio laid down in the following judicial pronouncements: a. Umesh Electricals vis Asst. CIT(2011) 18 IT] 635 (Trib.Agra): (2011) 131 ITD 127: (2011) 141 TTJ Signature Coloniser/Builder 27 ITA 218 and 219 of 2020 Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor- Based on inquiry, AO noted that creditor was engaged in…

DCIT-CENTRAL-2 BHOPAL, BHOPAL vs. M/S SAINATH BUILDERS & COLONISERS, BHOPAL

Appeals are dismissed for the assessment years 2013-14 & 2014-

ITA 268/IND/2020[2014-15]Status: DisposedITAT Indore26 Nov 2021AY 2014-15

Bench: Shri Mahavir Prasad & Shri Manish Borad(Virtual Hearing)

Section 132(4)

…, the assessee had satisfied all the three conditions required for genuineness of the transaction. Our view is supported by the ratio laid down in the following judicial pronouncements: a. Umesh Electricals vis Asst. CIT(2011) 18 IT] 635 (Trib.Agra): (2011) 131 ITD 127: (2011) 141 TTJ Establishment of identity and credit-worthiness proved- Assessee produced the bank account of creditor in his bank account on the same day on which loan was given- Assessee furnished the cash flow statement of creditor- Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, it…

THE ACIT (CENTRAL), UJJAIN vs. M/S. VYANKTESH PLASTICS & PACKAGING (P) LTD., UJJAIN

ITA 737/IND/2019[2015-16]Status: DisposedITAT Indore11 Jan 2021AY 2015-16

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE JUSTICE P.P. BHATT, HON'BLE PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER VIRTUAL HEARING Assessment Year: 2016-17 M/s. Ariba Foods Pvt. ACIT (Central), Vs. Ltd, 101, Gold star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) PAN No.AALCA7223M Assessment Year: 2015-16 M/s. Vyanktesh Plastics ACIT (Central), Vs. and Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) PAN No.AAACV6547J Assessment Year: 2011-12 M/s. Famous…

ACIT (CENTRAL) , UJJAIN vs. M/S. ARIBA FOODS (P) LTD., INDORE

ITA 736/IND/2019[2016-17]Status: DisposedITAT Indore11 Jan 2021AY 2016-17

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE JUSTICE P.P. BHATT, HON'BLE PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER VIRTUAL HEARING Assessment Year: 2016-17 M/s. Ariba Foods Pvt. ACIT (Central), Vs. Ltd, 101, Gold star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) PAN No.AALCA7223M Assessment Year: 2015-16 M/s. Vyanktesh Plastics ACIT (Central), Vs. and Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) PAN No.AAACV6547J Assessment Year: 2011-12 M/s. Famous…

THE ACIT (CENTRAL), UJJAIN vs. M/S. FAMOUS VANIJYA (P) LTD. , UJJAIN

ITA 773/IND/2019[2011-12]Status: DisposedITAT Indore06 Jan 2021AY 2011-12

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE JUSTICE P.P. BHATT, HON'BLE PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER VIRTUAL HEARING Assessment Year: 2016-17 M/s. Ariba Foods Pvt. ACIT (Central), Vs. Ltd, 101, Gold star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) PAN No.AALCA7223M Assessment Year: 2015-16 M/s. Vyanktesh Plastics ACIT (Central), Vs. and Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) PAN No.AAACV6547J Assessment Year: 2011-12 M/s. Famous…

THE ACIT RATLAM, RATLAM vs. ISHRI DEEPAK KUMAR SONI, RATLAM

In the result, appeal of the revenue’s stands dismissed

ITA 270/IND/2018[12-13]Status: DisposedITAT Indore01 Jun 2020

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2012-13

Section 142(1)Section 143(3)Section 68Section 69C

…it is clear that the appellant has satisfied all the three conditions required for genuineness of the transaction. The same view has been upheld by Hon'ble IT AT in the following cases.- i. Umesh Electricals vis Asst. CIT(20 11) 18 ITJ635 (Trib.Agra): (2011)131 ITD 127 :(2011) 141TTJ Establishment of identity and credit-worthiness proved. Assessee produced the bank account of creditor in his bank account on the same day on which loan was given - Assessee furnished the cash flow statement of creditor - Based on inquiry, AO noted that creditor was engaged in providing accommodation entries-HELD- In group cases, i…

JAYANT B PATEL HUF,MUMBAI vs. ACIT CC13, MUMBAI

In the result, appeals filed by the revenue are dismissed,

ITA 5547/MUM/2012[2001-02]Status: DisposedITAT Mumbai10 Aug 2016AY 2001-02

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./Ita Nos.5547, 5548, 5553/Mum/2012 & Ita No.7525/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 & 2007­08) Jayant B. Patel Huf, B/27, Vs. Acit, Cc­13, Mumbai Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5455 To 5461/Mum/2012 ("नधा"रण वष" / Assessment Years :2001­02 To 2007­08) Acit, Cc­13, Mumbai Vs. Jayant B. Patel Huf, B/27, Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5549 To 5552, 5554/Mum/2012 &7524/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 2004­05,2006­07 & 2007­08) Jayant B. Patel, B/27, Clifton Vs. Acit, Cc­13, Mumbai Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacpp 6414 H (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Dr. K.Shivaram & Ms. Neelam C. Jadhav राज"व क" ओर से /Revenue By : Shri Alok Johri सुनवाई क" तार"ख / Date Of Hearing : 13/05/2016 घोषणा क" तार"ख/Date Of Pronouncement 10/08/2016

For Appellant: Dr. K.Shivaram &For Respondent: Shri Alok Johri
Section 143(2)Section 143(3)Section 153A

…vit filed without finding any fault therein. Further, the net agricultural income shown by the assessee group is around Rs.30,000/­ per acre per annum which is not very high. 4. After relying on the judicial pronouncements in the case of Umesh Electricals 131 ITD 127, Pragati Co­op Bank 278 ITR 170 and the decision of Hon’ble Bombay High Court in the case of Orient Trading Co. Ltd., 49 ITR 723, the CIT(A) has deleted the addition on account of agricultural income. Detailed finding recorded by CIT(A) are as per materials on record, therefore, do not warrant any interference on our part. Accordingly, we conf…

A.C.I.T. CENT.CIR.13, MUMBAI vs. JAYANT B. PATEL(HUF), MUMBAI

In the result, appeals filed by the revenue are dismissed,

ITA 5455/MUM/2012[2001-02]Status: DisposedITAT Mumbai10 Aug 2016AY 2001-02

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./Ita Nos.5547, 5548, 5553/Mum/2012 & Ita No.7525/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 & 2007­08) Jayant B. Patel Huf, B/27, Vs. Acit, Cc­13, Mumbai Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5455 To 5461/Mum/2012 ("नधा"रण वष" / Assessment Years :2001­02 To 2007­08) Acit, Cc­13, Mumbai Vs. Jayant B. Patel Huf, B/27, Clifton Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaahj 1081 L (अपीलाथ" /Appellant) (""यथ" / Respondent) .. & आयकर अपील सं./Ita Nos.5549 To 5552, 5554/Mum/2012 &7524/Mum/2013 ("नधा"रण वष" / Assessment Years :2001­02, 2003­04 2004­05,2006­07 & 2007­08) Jayant B. Patel, B/27, Clifton Vs. Acit, Cc­13, Mumbai Society, Near Centuar Hotel, Juhu Vile Parle (W), Mumbai­49 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacpp 6414 H (अपीलाथ" /Appellant) (""यथ" / Respondent) .. "नधा"रती क" ओर से /Assessee By : Dr. K.Shivaram & Ms. Neelam C. Jadhav राज"व क" ओर से /Revenue By : Shri Alok Johri सुनवाई क" तार"ख / Date Of Hearing : 13/05/2016 घोषणा क" तार"ख/Date Of Pronouncement 10/08/2016

For Appellant: Dr. K.Shivaram &For Respondent: Shri Alok Johri
Section 143(2)Section 143(3)Section 153A

…vit filed without finding any fault therein. Further, the net agricultural income shown by the assessee group is around Rs.30,000/­ per acre per annum which is not very high. 4. After relying on the judicial pronouncements in the case of Umesh Electricals 131 ITD 127, Pragati Co­op Bank 278 ITR 170 and the decision of Hon’ble Bombay High Court in the case of Orient Trading Co. Ltd., 49 ITR 723, the CIT(A) has deleted the addition on account of agricultural income. Detailed finding recorded by CIT(A) are as per materials on record, therefore, do not warrant any interference on our part. Accordingly, we conf…

ACIT, MUZAFFARNAGAR vs. SH. MUKESH JAIN., MUZAFFARNAGAR

In the result appeal of the revenue is dismissed

ITA 1635/DEL/2012[2008-09]Status: DisposedITAT Delhi06 Nov 2015AY 2008-09

Bench: Sh. C. M. Garg, Jm & Sh. Prashant Maharishi, Am Ita No. 1635/Del/2012 : Asstt. Year: 2008-09

For Appellant: Sh. Navin Gupta, AdvFor Respondent: Sh. P. Dam Kanunjna , Sr. DR
Section 133(6)Section 68

…ns. The issue is that merely because cash is deposited in the bank account before issue of cheques to the may lead to the addition in the hands of the assessee despite the lenders , confirming the same submitting their income tax returns and bank passbook. In 131 ITD 127 IN THE ITAT AGRA BENCH THIRD MEMBER Umesh Electricals v. Assistant Commissioner of Income-tax where in it is held that :- “11. In the case before me the person M/s Om Prakash Haresh Chand from whom the loans have been received by the assessee amounting to Rs. 1,50,000 vide draft No. 045754 dated 6-8- 1999 drawn on Canara Bank Belan Ganj Agra is i…

(ii) Umesh Electricals v. Asst. CIT (131 ITD 127) — Cited in 19 Judgments | BharatTax