K.P. Varghese v. ITO

131 ITR 597Supreme Court of India1981#44 most cited

What is K.P. Varghese v. ITO authority for?

An addition to income cannot be made merely on the basis of a difference in valuation of assets or a Valuation Officer's report without establishing actual understatement of consideration or the source of unexplained funds through proper enquiry. The Assessing Officer must conduct proper enquiry and satisfy the conditions for making such additions.

989

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2000 to 2026.

Also referred to as

K.P. Varghese v. ITO · 131 ITR 597 · difference in valuation · unexplained investment · Valuation Officer report · deletion of addition · Assessing Officer enquiry · Section 69 · Section 69A · Section 115BBE · no addition on suspicion · understatement of consideration

Also reported as

7 Taxmann 13

Sections most often in play

Section 143(3)Section 153ASection 132Section 292CSection 69Section 153CSection 115BBESection 69A

Issues it is cited on

section 5(8)section 52closely held companyaccumulated profitsdumb documentssection 132(4a)section 131(1a)section 260section 69bsection 292csection 292bsection 292

Judgments citing K.P. Varghese v. ITO

Sh. Dheeraj Singh Sisodiya, Kota vs. DCIT, Central Circle, Kota

In the result the ground no

ITA 932/JPR/2024[2014-15]Status: DisposedITAT Jaipur28 Jan 2025AY 2014-15

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA Nos.931 to 936/JP/2024 निर्धारण वर्ष / Assessment Years : 2012-13 & 2014-15 to 2018-19 Dheeraj Singh Sisodiya 005, (Nayagaun) Ram Ganmandi, Kota बनाम DCIT, Vill. Beedmandi Vs. Central Circle, Kota स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: APAPS 6392 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by : Sh. P. C. Parwal, CA राजस्व की ओर से / Revenue by : Mrs. Alka Gautam,

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Mrs. Alka Gautam, CIT-DR
Section 132Section 132(1)Section 139Section 142Section 143(2)Section 143(3)Section 153ASection 69

…t be as aids to the construction of a statute, undoubtedly throw light on the intent and design of the legislature and indicate the scope and purpose of the legislation itself." It has been observed by the Hon'ble Supreme Court in K.P. Varghese v. ITO [1981] 131 ITR 597/7 Taxman 13 as under- "It is well recognized rule of construction that a statutory provision must be so construed, if possible that absurdity and mischief may be avoided." If a assessee is allowed to claim an allowance, deduction etc. u/s 153A not claimed earlier than it would mean that even in cases where the appeal arising out of the complete…

Sh. Dheeraj Singh Sisodiya, Kota vs. DCIT, Central Circle, Kota

In the result the ground no

ITA 931/JPR/2024[2012-13]Status: DisposedITAT Jaipur28 Jan 2025AY 2012-13

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA Nos.931 to 936/JP/2024 निर्धारण वर्ष / Assessment Years : 2012-13 & 2014-15 to 2018-19 Dheeraj Singh Sisodiya 005, (Nayagaun) Ram Ganmandi, Kota बनाम DCIT, Vill. Beedmandi Vs. Central Circle, Kota स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: APAPS 6392 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by : Sh. P. C. Parwal, CA राजस्व की ओर से / Revenue by : Mrs. Alka Gautam,

For Appellant: Sh. P. C. Parwal, CAFor Respondent: Mrs. Alka Gautam, CIT-DR
Section 132Section 132(1)Section 139Section 142Section 143(2)Section 143(3)Section 153ASection 69

…t be as aids to the construction of a statute, undoubtedly throw light on the intent and design of the legislature and indicate the scope and purpose of the legislation itself." It has been observed by the Hon'ble Supreme Court in K.P. Varghese v. ITO [1981] 131 ITR 597/7 Taxman 13 as under- "It is well recognized rule of construction that a statutory provision must be so construed, if possible that absurdity and mischief may be avoided." If a assessee is allowed to claim an allowance, deduction etc. u/s 153A not claimed earlier than it would mean that even in cases where the appeal arising out of the complete…

Assistant Commissioner of Income Tax, Central Circle-2, Trichy vs. Ramasamy Natarajan, Trichy

In the result, both the appeals stand dismissed

ITA 2641/CHNY/2024[2015-16]Status: DisposedITAT Chennai22 Jan 2025AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.2641/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2015-16) Acit Shri Ramasamy Natarajan बनाम Central Circle-2 # 255, Ganapathy Nagar South, / Vs. Trichy. T.V. Kovil Trichy-620005. "थायीलेखासं./ जीआइआरसं./Pan/Gir No. Aabpn-8486-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 2. आयकरअपील सं./ Ita No.2640/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2016-17) Acit Shri Jayaraman Muthureddiar बनाम #14, Akila Gardens, 1St Street, Central Circle-2 Trichy. Ganapathy Nagar, T.V.Kovil / Vs. Trichy-620005. "थायीलेखासं./ जीआइआरसं./Pan/Gir No. Aadhj-0819-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओर से/ Revenue By : Shri R. Clement Ramesh Kumar (Cit)-Ld. Dr " थ" की ओर से/ Assessee By : Shri Y. Sridhar (Fca) & Ms. Varshha Sridhar (Ca)-Ld. Ars सुनवाई की तारीख/Date Of Hearing : 02-01-2025 घोषणा की तारीख /Date Of Pronouncement : 22-01-2025 आदेश / O R D E R

For Appellant: Shri Y. Sridhar (FCA) & Ms. VarshhaFor Respondent: Shri R. Clement Ramesh Kumar (CIT)-Ld. DR
Section 131Section 132Section 143(3)Section 153CSection 69

…आयकर अपीलीय अिधकरण ‘सी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी मनोज कुमार अ/वाल ,लेखा सद3 एवं माननीय +ी मनु कुमार िग7र, "ाियक सद3 के सम8। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM 1. आयकरअपील सं./ ITA No.2641/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2015-16) ACIT Shri Ramasamy Natarajan बनाम Central Circle-2 # 255, Ganapathy Nagar South, / Vs. Trichy. T.V. Kovil Trichy-620005. "थायीलेखासं./ जीआइआरसं./PAN/GIR No. AABPN-8486-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 2. आयकरअपील सं./ ITA No.2640/Chny/2024 (िनधा9रणवष9 / Assessment…

Assistant Commissioner of Income Tax, Central Circle-2, Trichy vs. Jayaraman Muthureddiar, Trichy

In the result, both the appeals stand dismissed

ITA 2640/CHNY/2024[2016-17]Status: DisposedITAT Chennai22 Jan 2025AY 2016-17

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm 1. आयकरअपील सं./ Ita No.2641/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2015-16) Acit Shri Ramasamy Natarajan बनाम Central Circle-2 # 255, Ganapathy Nagar South, / Vs. Trichy. T.V. Kovil Trichy-620005. "थायीलेखासं./ जीआइआरसं./Pan/Gir No. Aabpn-8486-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 2. आयकरअपील सं./ Ita No.2640/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2016-17) Acit Shri Jayaraman Muthureddiar बनाम #14, Akila Gardens, 1St Street, Central Circle-2 Trichy. Ganapathy Nagar, T.V.Kovil / Vs. Trichy-620005. "थायीलेखासं./ जीआइआरसं./Pan/Gir No. Aadhj-0819-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओर से/ Revenue By : Shri R. Clement Ramesh Kumar (Cit)-Ld. Dr " थ" की ओर से/ Assessee By : Shri Y. Sridhar (Fca) & Ms. Varshha Sridhar (Ca)-Ld. Ars सुनवाई की तारीख/Date Of Hearing : 02-01-2025 घोषणा की तारीख /Date Of Pronouncement : 22-01-2025 आदेश / O R D E R

For Appellant: Shri Y. Sridhar (FCA) & Ms. VarshhaFor Respondent: Shri R. Clement Ramesh Kumar (CIT)-Ld. DR
Section 131Section 132Section 143(3)Section 153CSection 69

…आयकर अपीलीय अिधकरण ‘सी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी मनोज कुमार अ/वाल ,लेखा सद3 एवं माननीय +ी मनु कुमार िग7र, "ाियक सद3 के सम8। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM 1. आयकरअपील सं./ ITA No.2641/Chny/2024 (िनधा9रणवष9 / Assessment Year: 2015-16) ACIT Shri Ramasamy Natarajan बनाम Central Circle-2 # 255, Ganapathy Nagar South, / Vs. Trichy. T.V. Kovil Trichy-620005. "थायीलेखासं./ जीआइआरसं./PAN/GIR No. AABPN-8486-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & 2. आयकरअपील सं./ ITA No.2640/Chny/2024 (िनधा9रणवष9 / Assessment…

Assistant Commissioner of Income Tax, Central Circle -2, Surat vs. Shah Maganlal Gulabchand Choksi, Surat

In the result, appeals of assessee are allowed for statistical purpose

ITA 224/SRT/2022[2017-18]Status: DisposedITAT Surat16 Jan 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

Section 115BSection 131Section 250Section 271ASection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.197/SRT/2022 (Assessment Year: 2017-18) (Physical Hearing) Shah Maganlal Gulabchand The ACIT, Vs. Choksi, Central Circle – 2, 3/138, Parsi Sheri, Navapura, Surat Surat – 395003. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAJFS5582Q (Appellant) (Respondent) आयकर अपील सं./ITA No.224/SRT/2022 (Assessment Year: 2017-18) The ACIT, Shah Maganlal Gulabchand Central Circle – 2, Vs. Choksi, Surat 3/138, Parsi Sheri, Navapura, Surat – 395003. "थायीलेखासं./जीआइआरस…

Shah Maganlal Gulabchand Choksi, Surat vs. Assistant Commissioner of Income Tax, Central Circle-2, Surat

In the result, appeals of assessee are allowed for statistical purpose

ITA 197/SRT/2022[2017-18]Status: DisposedITAT Surat16 Jan 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI BIJAYANANDA PRUSETH (Accountant Member)

Section 115BSection 131Section 250Section 271ASection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.197/SRT/2022 (Assessment Year: 2017-18) (Physical Hearing) Shah Maganlal Gulabchand The ACIT, Vs. Choksi, Central Circle – 2, 3/138, Parsi Sheri, Navapura, Surat Surat – 395003. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAJFS5582Q (Appellant) (Respondent) आयकर अपील सं./ITA No.224/SRT/2022 (Assessment Year: 2017-18) The ACIT, Shah Maganlal Gulabchand Central Circle – 2, Vs. Choksi, Surat 3/138, Parsi Sheri, Navapura, Surat – 395003. "थायीलेखासं./जीआइआरस…

DCIT, Central Circle- 1(3), Pune, Income Tax vs. Garware Technical Fibres Limited, Maharashtra

ITA 1831/PUN/2024[2017-18]Status: DisposedITAT Pune09 Jan 2025AY 2017-18

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE "A" BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years: 2013-2014 to 2020-2021 Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Maharashtra. PAN: AAACG1377P (Appellant) VS. The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Bodhi Towers, Salisbury Park, Gultekdi, PUNE – 411 037. Maharashtra. (Respondent) The DCIT, CC-1(3), Pune (Appellant) I.T.A.No.1831/PUN./2024 Assessment Year: 2017-18 Garware Technical Fibres Limited, Plot No.11, B…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1703/PUN/2024[2020-21]Status: DisposedITAT Pune09 Jan 2025AY 2020-21

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Bodhi Towers, Salisbury Park, vs. Maharashtra. Gultekdi, PUNE – 411 037. PAN: AAACG1377P Maharashtra. (Appellant) (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

ITA 1702/PUN/2024[2019-20]Status: DisposedITAT Pune09 Jan 2025AY 2019-20

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE "A" BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Maharashtra. PAN: AAACG1377P (Appellant) VS. The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Bodhi Towers, Salisbury Park, Gultekdi, PUNE – 411 037. Maharashtra. (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune (Appellant) Garware Technical Fibres Limited, Plot No.11, B…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

ITA 1701/PUN/2024[2018-19]Status: DisposedITAT Pune09 Jan 2025AY 2018-19

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE "A" BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 | Garware Technical Fibres Limited, | | Plot No.11, Block D-1, MIDC, | | Chinchwad, PUNE – 411 019. | | Maharashtra. | | PAN: AAACG1377P | | (Appellant) | VS. | The DCIT, CC-1(3), | | 633, 6th Floor, Aayakar Sadan, | | Bodhi Towers, Salisbury Park, | | Gultekdi, PUNE – 411 037. | | Maharashtra. | | (Respondent) | I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 | The DCIT, CC-1(3), Pune | | (A…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1700/PUN/2024[2017-18]Status: DisposedITAT Pune09 Jan 2025AY 2017-18

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Bodhi Towers, Salisbury Park, vs. Maharashtra. Gultekdi, PUNE – 411 037. PAN: AAACG1377P Maharashtra. (Appellant) (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1699/PUN/2024[2016-17]Status: DisposedITAT Pune09 Jan 2025AY 2016-17

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Bodhi Towers, Salisbury Park, vs. Maharashtra. Gultekdi, PUNE – 411 037. PAN: AAACG1377P Maharashtra. (Appellant) (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1698/PUN/2024[2015-16]Status: DisposedITAT Pune09 Jan 2025AY 2015-16

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Bodhi Towers, Salisbury Park, vs. Maharashtra. Gultekdi, PUNE – 411 037. PAN: AAACG1377P Maharashtra. (Appellant) (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

In the result, all the eight appeals filed by the assessee are partly allowed and the only appeal filed by the Revenue is dismissed

ITA 1697/PUN/2024[2014-15]Status: DisposedITAT Pune09 Jan 2025AY 2014-15

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And Shri Ramnath P Murkunde
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “A” BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Bodhi Towers, Salisbury Park, vs. Maharashtra. Gultekdi, PUNE – 411 037. PAN: AAACG1377P Maharashtra. (Appellant) (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC…

Garware Technical Fibres Limited, Pune vs. DCIT, CC-1(3), Pune

ITA 1696/PUN/2024[2013-14]Status: DisposedITAT Pune09 Jan 2025AY 2013-14

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Ritu Kamal KishoreFor Respondent: Shri Amol Khairnar, CIT-DR And
Section 131Section 132Section 139Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE "A" BENCH : PUNE BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER I.T.A.Nos.1696 to 1703/PUN./2024 Assessment Years : 2013-2014 to 2020-2021 Garware Technical Fibres Limited, Plot No.11, Block D-1, MIDC, Chinchwad, PUNE – 411 019. Maharashtra. PAN: AAACG1377P (Appellant) VS. The DCIT, CC-1(3), 633, 6th Floor, Aayakar Sadan, Bodhi Towers, Salisbury Park, Gultekdi, PUNE – 411 037. Maharashtra. (Respondent) I.T.A.No.1831/PUN./2024 Assessment Year : 2017-18 The DCIT, CC-1(3), Pune (Appellant) VS. Garware Technical Fibres Limited, Plot No.1…

Naresh Balyan, New Delhi vs. ACIT, New Delhi

In the result, appeal of the assessee is allowed

ITA 3448/DEL/2023[2017-18]Status: DisposedITAT Delhi18 Dec 2024AY 2017-18

Bench: Shri Pradip Kumar Kedia & Shri Vimal Kumar[Assessment Year : 2017-18] Naresh Balyan Vs Acit 125-A, Shyam Park Central Circle-16 Nawada, Uttam Nagar Jhandewalan Ext. New Delhi-110059 Delhi Pan-Adqpb8836L Appellant Respondent Appellant By Shri Jasmeet Singh, Adv. & Shri Pranav Menon, Adv. Respondent By Ms. Baljeet Kaur, Cit Dr Date Of Hearing 25.10.2024 18.12.2024 Date Of Pronouncement

Section 132Section 143(1)Section 143(2)Section 153ASection 250(6)Section 292CSection 69ASection 69C

…under s. 132(4) at the time of search itself. The Revenue failed to do so. It is well settled that onus lies on the persons who alleges. The assessee cannot be placed within impossible burden to prove a negative point in the case of K.P.varghese vs ITO [1991] 131 ITR 597 (SC). The assessee having denied its privy to the information found as per loose sheet, the onus was somewhat shifted to the Revenue. No negative evidence to support the entries was found despite a drastic step of search. The absence of material and denial by the assessee coupled with the social status of the assessee where a large number of peop…

Assistant Commissioner of Income Tax, Central Circle, Kota vs. Banas Builders and Developers LLP, Jhalawar

In the result the appeal of the revenue in ITA no

ITA 269/JPR/2024[2018-19]Status: DisposedITAT Jaipur03 Dec 2024AY 2018-19

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Rajendra Jain (Adv.) (V.C)For Respondent: Smt. Alka Gautam, CIT-DR (V.H)
Section 153ASection 250Section 69B

…CIT vs. Naresh Khattar (HUF) 261 ITR 664 (Del.) that in order to invoke the provisions of section 69B of the Act, the burden is on the Revenue to prove. The above judgement referred to the ratio laid down by the Apex Court in the case of K.P.Varghese vs. ITO 131 ITR 597 (SC) wherein it is held that to throw the burden of showing that there is no understatement of the consideration, on the assessee would be to cast an almost impossible burden upon him to establish a negative. 32 ITA Nos. 239 to 240 & 269-JP-2024 ACIT vs. Banas Builders and Developers LLP, Jhalawar 24. The assessee has discharged his burden by…

Asstt. Commissioner of Income Tax, Central Circle, Kota vs. Banas Minerals Private Limited, Jhalawar

In the result the appeal of the revenue in ITA no

ITA 240/JPR/2024[2018-19]Status: DisposedITAT Jaipur03 Dec 2024AY 2018-19

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Rajendra Jain (Adv.) (V.C)For Respondent: Smt. Alka Gautam, CIT-DR (V.H)
Section 153ASection 250Section 69B

…CIT vs. Naresh Khattar (HUF) 261 ITR 664 (Del.) that in order to invoke the provisions of section 69B of the Act, the burden is on the Revenue to prove. The above judgement referred to the ratio laid down by the Apex Court in the case of K.P.Varghese vs. ITO 131 ITR 597 (SC) wherein it is held that to throw the burden of showing that there is no understatement of the consideration, on the assessee would be to cast an almost impossible burden upon him to establish a negative. 32 ITA Nos. 239 to 240 & 269-JP-2024 ACIT vs. Banas Builders and Developers LLP, Jhalawar 24. The assessee has discharged his burden by…

ACIT, Central Circle, Kota vs. Banas Minerals Private Limited, Jhalawar

In the result the appeal of the revenue in ITA no

ITA 239/JPR/2024[2013-14]Status: DisposedITAT Jaipur03 Dec 2024AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Rajendra Jain (Adv.) (V.C)For Respondent: Smt. Alka Gautam, CIT-DR (V.H)
Section 153ASection 250Section 69B

…CIT vs. Naresh Khattar (HUF) 261 ITR 664 (Del.) that in order to invoke the provisions of section 69B of the Act, the burden is on the Revenue to prove. The above judgement referred to the ratio laid down by the Apex Court in the case of K.P.Varghese vs. ITO 131 ITR 597 (SC) wherein it is held that to throw the burden of showing that there is no understatement of the consideration, on the assessee would be to cast an almost impossible burden upon him to establish a negative. 32 ITA Nos. 239 to 240 & 269-JP-2024 ACIT vs. Banas Builders and Developers LLP, Jhalawar 24. The assessee has discharged his burden by…

South Asia Foundation India, New Delhi vs. CIT (Exemption, New Delhi

In the result the appeal is allowed for statistical purposes

ITA 1903/DEL/2024[-]Status: DisposedITAT Delhi27 Nov 2024
Section 12ASection 80GSection 80G(5)Section 80G(5)(iii)Section 80G(5)(iv)

…le activities; i.e. in the Financial Year 2023- 24, in accordance with new provisions of the section 80G(5)(iii) of the Act. 4.1 In support of his arguments, the Ld. AR placed reliance on the decision of the Hon’ble Supreme Court in the case of K. P. Varghese 131 ITR 597 where the Hon’ble Supreme Court had observed that the statutory provisions should be interpreted in such a way to avoid absurdity. Therefore, he prayed to treat the application filed under Form No. 10AB of the Income Tax Rules within the prescribed time limit. Further, it was argued that strict interpretation of new provisions of the section 80G(…