ITO v. Kamal Kumar Mishra

143 ITD 686Income Tax Appellate Tribunal2013#2421 most cited

What is ITO v. Kamal Kumar Mishra authority for?

Section 68 cannot be invoked to make an addition for unexplained cash credits found in an assessee's bank account if the assessee has not maintained books of account. A bank passbook or bank statement is not considered a book maintained by the assessee for the purpose of Section 68.

48

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Also referred to as

ITO v. Kamal Kumar Mishra · Section 68 · unexplained cash credit · bank passbook · bank statement · not books of account · assessee not maintaining books · addition under section 68 · cash deposits in bank · applicability of section 68

Also reported as

33 Taxmann.com 610

Sections most often in play

Section 68Section 143(3)Section 147Section 148Section 250Section 142(1)Section 115BBESection 131

Issues it is cited on

addition u/s 68addition under section 68rule 46aunexplained cash creditsection 69csection 115bbsection 115bsection 68genuineness of the transactionsection 115bbesection 69previous year

Judgments citing ITO v. Kamal Kumar Mishra

Latif Ebrahim Patel, Mumbai vs. ITO 17(1)(1), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 7097/MUM/2013[2005-06]Status: DisposedITAT Mumbai23 Mar 2018AY 2005-06

Bench: Shri G.S.Pannu, Am & Shri Ravish Sood, Jm Mr. Latif Ebrahim Patel Income Tax Officer-17(1)(1) बिधम/ 202, 3, Sarkar Tower, Mumbai Mazagaon, Vs. Mumbai-400010 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Agqpp1237N (अऩीराथी /Appellant) (प्रत्मथी / Respondent) :

For Appellant: Ms. Aasifa Khan, A.RFor Respondent: Shri Rajesh Kumar Yadav, D.R
Section 142(1)Section 143Section 143(3)Section 148Section 68

…t by a „Third member‟ decision of the Tribunal in the case of Smt. Madhu Raitani Vs. Asst. CIT [2011] 10 taxmann.com 206/45 SOT 231 (Guj) (TM) as well as by a coordinate bench of the Tribunal in the case of ITO Vs. Kamal Kumar Mishra [2013] 33 taxmann.com 610/143 ITD 686 (Lucknow- Trib). Thus, in the backdrop of the aforesaid facts of the case read in light of the settled position of law, we are of the considered view that the addition made by the A.O in respect of the cash deposit of Rs.6,84,000/-(supra) in the bank account of the assessee by invoking Section 68 has to fail for the very reason that as per the ju…

Danveer Singh, Noida vs. ITO, Ward- 1(1), Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 4036/DEL/2017[2008-09]Status: DisposedITAT Delhi14 Dec 2017AY 2008-09

Bench: Shri B.P. Jain

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Atiq Ahmed Sr. DR
Section 144Section 147Section 148Section 68

…be said the addition can be sustained even u/s 69 of the Income Tax Act. In ITA No.5592/Del/2015 this manner the ITAT has dismissed the appeal of the Revenue Department." 3. The ITAT Lucknow "B" Bench of the Tribunal in the case of ITO vs. Kamal Kumar Mishra 143 ITD 686 (Lucknow Trib.) at para 7 and 8 held as follows. "7. The aforesaid provisions of section 68 of the Act can only be invoked where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion…

Yogesh Nigam, Gurgaon vs. ITO, New Delhi

In the result the appeal of the assessee stands allowed

ITA 3399/DEL/2016[2005-06]Status: DisposedITAT Delhi18 Jan 2017AY 2005-06

Bench: Shri J. Sudhakar Reddyay: 2005-06 Sh. Yogesh Nigam Vs. Ito, Ward No.44(1) C 1/682, Civic Centre Zade Home In Zade Garden New Delhi Palam Vihar, Gurgaon Pan: Abjpn 5924 E (Appellant) (Respondent) Appellant By : Sh. Ashwani Kr.Garg, Adv. Respondent By : Sh. F.R.Meena, Sr. D.R. Order

For Appellant: Sh. Ashwani Kr.Garg, AdvFor Respondent: Sh. F.R.Meena, Sr. D.R
Section 271(1)(C)Section 68Section 68dSection 69

…said the addition can be sustained even u/s 69 of the Income Tax Act. In ITA No.5592/Del/2015 this manner the ITAT has dismissed the appeal of the Revenue Department." iii). The ITAT Lucknow "B" Bench of the Tribunal in the case of ITO vs.Kamal Kumar Mishra 143 ITD 686 (Lucknow Trib.) at para 7 and 8 held as follows. "7. The aforesaid provisions of section 68 of the Act can only be invoked where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinio…

Bimal Chandra Hazra, Kolkata vs. ITO, WD-52(2), Kolkata

In the result, the appeal filed by the assessee is allowed

ITA 834/KOL/2014[2006-2007]Status: DisposedITAT Kolkata05 Dec 2016AY 2006-2007

Bench: Shri K. Narasimha Chary, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.834/Kol/2014 ("नधा"रण वष" / Assessment Year :2006-07) Shri Bimal Chandra Hazra Vs. Income Tax Officer, Ward - C/O P.K.Mathur, Advocate, 1 52(2) Aayakar Bhavan, Meredith Street, Kolkata- Dakshin, 2 Gariahat Road, 700072 Kolkata-700072 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abcph 5382F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue By : S.M. Surana, Advocate "नधा"रती क" ओर से /Assessee By : Shri Banibra Dutta, Addl.Cit सुनवाई क" तार"ख / Date Of Hearing : 19/10/2016 घोषणा क" तार"ख/Date Of Pronouncement 05/12/2016 आदेश / O R D E R Per Dr.Arjun Lal Saini, Am: The Captioned Appeal Filed By The Assessee Pertaining To The Assessment Year 2006-2007, Is Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals)-Xxxiii, Kolkata In Appeal No.123/Cit(A)-Xxxiii/Ito Ward/52(2)/Kol/09-10, Dated 16.01.2014, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S.143(3) Of The Income Tax Act (In Short The ‘Act’), Dated 30.12.2008. 2. Brief Facts Of The Case Qua The Assessee Are That The Assessee Made Cash Deposit Of Rs. 35,50,000/- In His Bank Account With The Hongkong & Shanghai Banking Corporation Limited, Ultandanga Branch, Kolkata On Various Dates During The Financial Year 2005-06. The Authorised Representative (Ar) Of The Assessee Appeared Before The Assessing Officer & Submitted His Explanation Through Letter Dated 27- 12-2008 Stating That The Following Amounts Were Deposited In Cash In His

For Appellant: Shri Banibra Dutta, Addl.CITFor Respondent: S.M. Surana, Advocate
Section 143(3)Section 68

…invested in the firm in which he is a partner and it was not known where its other part was lying. Thus,if at all, so far as the invested part is concerned, it could have been assessed in terms of s.69 of the Act, but in no case under s. 68 of the Act.” (2.) 143 ITD 686: ITO V. Kamal Kumar Mishra (Luck-Trib) “7. The aforesaid provisions of section 68 of the Act can only be invoked where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanations offered by him is not in the opinion of the I…

Ashok V. Gokani, Mumbai vs. ITO WD 25(3)(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 4486/MUM/2015[2008-09]Status: DisposedITAT Mumbai30 Sept 2016AY 2008-09

Bench: Shri Sanjay Garg () & Shri Ashwani Taneja ()

Section 271(1)(c)Section 68

…tions, as reproduced by the ITAT in its order: “1) Section 68 is not applicable as the amount was found credited in the bank and the bank statement cannot be construed as book of the assessee. The Ld. Counsel relied upon the decision of Lucknow Bench of ITAT 143 ITD 686 and on the decision of the jurisdictional High Court in the case of Bhaichand H. Gandhi 141 ITR 67. 4 I.T.A. No.4486/Mum/2015 2) Only peak credit should have been added which was on September, 2007 at Rs. 1,61,074/- 3) The assessee should also get the benefit of cash sales amounting to Rs. 3,48,400/-. 4) Since the assessee is a trader and the dep…

ITO, New Delhi vs. Sh. Madho Prashad Gupta, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6695/DEL/2015[2011-12]Status: DisposedITAT Delhi02 Sept 2016AY 2011-12

Bench: Shri H.S. Sidhuassessment Year: 2011-12

For Appellant: Ms. Manju Bhardwaj, CAFor Respondent: Shri FR Meena, Sr. DR
Section 143(2)Section 147Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC-3, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER Assessment Year: 2011-12 Income Tax Officer, vs. Sh. Madho Prashad Gupta, Ward 40(4) 4262-A, Jai Mata Market, Room No. 1708, 17th floor, Tri Nagar, Delhi – 110 035 E-2 Dr. SP Mukherjee Civic Centre New Delhi – 110 0002 (PAN: AIYPG3166B) (APPELLANT) (RESPONDENT) Department by : Shri FR Meena, Sr. DR Assessee by : Ms. Manju Bhardwaj, CA Date of Hearing : 23-08-2016 Date of Order : 02-09-2016 ORDER PER H.S. SIDHU, J.M. The Department has filed the Appeal against the impugned order dated 19.10.2015 of…

Roopak Jain, Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5592/DEL/2015[2011-12]Status: DisposedITAT Delhi30 Aug 2016AY 2011-12

Bench: Shri J. Sudhakar Reddyassessment Year : 2011-12

For Appellant: Shri Rajkumar Gupta &For Respondent: Shri Rajesh Kumar, Sr. DR
Section 143(3)Section 68Section 68dSection 69

…therefore it cannot be said the addition can be sustained even u/s 69 of the Income Tax Act. In 3 this manner the ITAT has dismissed the appeal of the Revenue Department.” 3. The ITAT Lucknow “B” Bench of the Tribunal in the case of ITO vs. Kamal Kumar Mishra 143 ITD 686 (Lucknow Trib.) at para 7 and 8 held as follows. “7. The aforesaid provisions of section 68 of the Act can only be invoked where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion…

Shri Om Prakash, Rohtak vs. ITO, Rohtak

In the result the appeal of the assessee is allowed

ITA 1325/DEL/2011[2007-08]Status: DisposedITAT Delhi11 Aug 2016AY 2007-08

Bench: Shri J.Sudhakar Reddy, Am & Shri C.M.Garg, J.M.

For Appellant: Sh. Gautam Jain, AdvFor Respondent: Sh. P.Damkanunja, Sr.D.R
Section 68

…accounts. The legal issue that arises for our consideration is whether an addition u/s 68 of the Act can be made when the assessee does not maintain any books of accounts. 6. The ITAT Lucknow “B” Bench of the Tribunal in the case of ITO vs. Kamal Kumar Mishra 143 ITD 686 Lucknow at para 7 and 8 held as follows. “7. The aforesaid provisions of section 68 of the Act can only be invoked where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the…