J.J. Enterprises vs CIT254 ITR 216 (SC), Assam Tea Co. v. ITO

1 SOT 914Income Tax Appellate Tribunal2004#5572 most cited

What is J.J. Enterprises vs CIT254 ITR 216 (SC), Assam Tea Co. v. ITO authority for?

Assessment must be based on material and evidence, not mere suspicion, conjectures, or assumptions. Strong suspicion alone cannot substitute for hard proof.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2017 to 2026.

Also referred to as

J.J. Enterprises vs CIT · Assam Tea Co. vs ITO · suspicion vs proof · assessment on evidence · conjectures and surmises · tangible material · ITAT · 2004

Also reported as

92 ITD 85

Sections most often in play

Section 10(38)Section 142(1)Section 132Section 68Section 69CSection 132(4)Section 133ASection 143(3)

Issues it is cited on

period of holdingpaper companyprice riggingcolourable devicesection 153(a)penny stocksection 10(38)bogus long term capital gainsection 132(1)entry operatorlong term capital gainslong term capital gain

Judgments citing J.J. Enterprises vs CIT254 ITR 216 (SC), Assam Tea Co. v. ITO

ACIT 12(2)(2), Mumbai vs. I & E Trade Consultants P.Ltd, Mumbai

In the result, appeal filed by the Revenue in ITA No

ITA 798/MUM/2015[2008-09]Status: DisposedITAT Mumbai24 Feb 2017AY 2008-09

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.798/Mum/2015 ("नधा"रण वष" / Assessment Year : 2008-09) Acit -12(2)(2), M/S I&E Trade बनाम/ Room No. 363, Consultants Pvt. Ltd., V. 3 Rd Floor,, 10 Th Floor, Aayakar Bhavan, Shree Puri Tower, M.K. Road, Soniwadi Shimpoli Road, Mumbai – 400 020. Borivali (West), Mumbai – 400092. "थायी लेखा सं./Pan : Aabct9239N .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Ms. Nikita AgarwalFor Respondent: Shri Saurabhkumar Rai,DR
Section 131Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

…sessee relied on the following case laws:- ITA 798/Mum/2015 & 8 C.O. No. 140/Mum/2016 1) United Electrical Company v. CIT (2002) 258 ITR 317 (Del.) 2) Sarthak Securities Company Pvt. Ltd. v. ITO (2010) 329 ITR110 (De!) 3) Assam Tea Company v. ITO (2005) 92 ITD 85 (Asr) (SB) . 4) Durga Prashad Goyal v. ITO (2006) 98 ITD 227 (Asr) (SB) 5) Smt. Kusumlata Bansal v. DClT (2008) 10 DTR (Ahd.)(Trib.)82 6) Virendra Kumar Agrawal v. ITO (2011) 132 ITD 140 (Mum) 7) ITO vs. Permanand 25 SOT 11 ITAT, Jodhpur The assessee also submitted written submissions as under:- “”We submit herewith a file containing all our…