Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. v. ACIT

412 ITR 208High Court2019#15823 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2022 to 2024.

Sections most often in play

Section 41(1)

Issues it is cited on

section 10(1)section 28(iv)section 194cinterest under section 234asearch assessmentsatisfaction notesection 40(a)(ia)agricultural incomesection 132aregular assessmentsection 254section 56

Judgments citing Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. v. ACIT

Shivaji Irmali, Thane vs. DCIT Central Circle 2, Thane

In the result, appeal of the assessee is allowed

ITA 3186/MUM/2024[2014-15]Status: DisposedITAT Mumbai13 Dec 2024AY 2014-15

Bench: The Nclt

Section 143(3)Section 41(1)

…e of Mahindra and Mahindra Limited (supra), the genuineness of credit balances was never in doubt. 8. Ld. CIT (A) after referring to the decision of the Hon’ble Madras High Court in the case of West Asia Exports & Imports (P) Ltd. vs. ACIT reported in (2019) 412 ITR 208, has confirmed the addition of Rs.13,34,000/- after observing as under:- 15.5. It is not under dispute that the liabilities are outstanding for long and the appellant could not substantiate the same by filing confirmations. The assessing officer has doubted the genuineness 6 Shivaji Irmali of said liabilities and as discussed above, the appellan…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 223/COCH/2023[2008-09]Status: DisposedITAT Cochin06 Aug 2024AY 2008-09

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so received is actually a miscellaneous receipt. (vii) In view of the facts m…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 222/COCH/2023[2007-08]Status: DisposedITAT Cochin06 Aug 2024AY 2007-08

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so received is actually a miscellaneous receipt. (vii) In view of the facts m…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 221/COCH/2023[2006-07]Status: DisposedITAT Cochin06 Aug 2024AY 2006-07

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so received is actually a miscellaneous receipt. (vii) In view of the facts m…

Santhimadam Agrofarm Trust, Kochi vs. The ACIT Central Circle 2, Kochi

In the result, the appeals filed by the assessee are partly allowed for statistical purposes

ITA 220/COCH/2023[2005-06]Status: DisposedITAT Cochin06 Aug 2024AY 2005-06

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Shri Mathew Joseph, CAFor Respondent: Shri Ilaiyaraja K.S., Sr. DR
Section 132Section 142(1)Section 153CSection 194CSection 234ASection 40Section 68Section 69

…of account. The decision of the Hon'ble Supreme Court in the case of CIT Vs. T.V. Sundaram lyengar & Sons (222 ITR 344) (SC) and Gujtron Electronics (P) Ltd. Vs. Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. Vs. ACIT (412 ITR 208) are few of such examples where the Courts have held that in taxing a receipt, the actual nature of transactions have to be considered over the entries made in the books of accounts. In the present case, though the receipt is entered as an advance in the books of amount so received is actually a miscellaneous receipt. (vii) In view of the facts m…

Principal Commissioner of Income Tax-12, Kolkata vs. M/S.Soorajmull Nagarmull

In the result, the appeal is dismissed and the substantial questions of

ITAT/46/2020HC Calcutta23 Nov 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 148Section 260ASection 41Section 41(1)

…from the case on hand as there was change of business of the assessee therein to entirely different nature and the creditors of the old business did not speak anything about the liability 6 (2019) 412 ITR 208 (Mad) ITAT NO. 46 OF 2020 REPORTABLE Page 11 of 22 for ten years and there was no written confirmation from such creditors. In such fact situation, the court held that there was cessation o…

Income Tax Officer (2017) 397 ITR 462 (Guj), M/s. West Asia Exports & Imports (P) Ltd. v. ACIT (412 ITR 208) — Cited in 6 Judgments | BharatTax