Kachwala Gems v. JCIT

288 ITR 10Supreme Court of India2007#229 most cited

What is Kachwala Gems v. JCIT authority for?

In a best judgment assessment, some guesswork is inherent, but the estimate must be fair and not arbitrary. Books of account can be rejected under Section 145(3) if the assessee fails to substantiate entries or prove the genuineness of transactions, leading to estimation of income.

332

judgments rely on this decision, according to BharatTax’s citation analysis of 367,842 Indian tax judgments — from 2015 to 2026.

Also referred to as

Kachwala Gems v. JCIT · Section 145(3) · best judgment assessment · rejection of books of account · genuineness of purchases · arbitrary estimate · onus to prove transactions · estimation of income · Section 144 · Section 69C

Also reported as

158 Taxmann 71

Sections most often in play

Section 143(3)Section 148Section 144Section 145(3)Section 147Section 68Section 69ASection 69C
Read the full judgment

Issues it is cited on

best judgment assessmentrejection of books of accountsection 145(3)section 145loose paperssection 133asection 132(4)documents seizedaccommodation entryregular assessmentsection 69cservice of notice

Judgments citing Kachwala Gems v. JCIT

ITO, Ward- 1(4), Mumbai vs. Girijashankar Bishwamber Choudhary, Mumbai

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

ITA 7015/MUM/2018[2010-11]Status: DisposedITAT Mumbai29 Sept 2020AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri S.L. JainFor Respondent: Shri R. Bhoopathi
Section 143(1)

…sion of the Hon'ble Gujarat High Court in Tax Appeal No. 242 of 2003 dated 20/06/2016 in the case of N.K. Proteins Ltd. against which the SLP was dismissed by the Hon'ble Apex Court and also decision of Hon'ble Supreme Court in case of Kanchwala Gems V/s JCIT 288 ITR 10 (SC?. 6. The appellant craves leave to add, amend, alter or delete any ground of appeal. 7. The order of the CIT(A) may be vacated and that of the assessing officer may be restored.” At the time of hearing, Authorized Representative of the assessee 3. submitted that tax effect on the issue in the present appeals is below ₹.50 Lacs and in view of…

ITO, Ward- 1(4), Mumbai vs. Girijashankar Bishwamber Choudhary, Mumbai

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

ITA 7014/MUM/2018[2010-11]Status: DisposedITAT Mumbai29 Sept 2020AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri S.L. JainFor Respondent: Shri R. Bhoopathi
Section 143(1)

…sion of the Hon'ble Gujarat High Court in Tax Appeal No. 242 of 2003 dated 20/06/2016 in the case of N.K. Proteins Ltd. against which the SLP was dismissed by the Hon'ble Apex Court and also decision of Hon'ble Supreme Court in case of Kanchwala Gems V/s JCIT 288 ITR 10 (SC?. 6. The appellant craves leave to add, amend, alter or delete any ground of appeal. 7. The order of the CIT(A) may be vacated and that of the assessing officer may be restored.” At the time of hearing, Authorized Representative of the assessee 3. submitted that tax effect on the issue in the present appeals is below ₹.50 Lacs and in view of…

Bhagatram, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the appeal of the assessee is partly allowed

ITA 1753/HYD/2018[2009-10]Status: DisposedITAT Hyderabad27 Jul 2020AY 2009-10
For Appellant: Shri K.C. DevdasFor Respondent: Shri Sunil Kumar Pandey
Section 132Section 250(6)

…o did not take any serious steps to prove the genuineness of the suppliers. Therefore, the Ld. AO relied on the various decisions of the Tribunal as well as the decision rendered by the Hon’ble Apex Court in the case of M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 and held that the purchases made by the assessee from those individuals are bogus transactions. Thereafter the Ld. AO estimated 10% of the bogus purchase as the undisclosed income of the assessee which works out to Rs. 9,30,487/- (10% of Rs. 93,04,866/-). On appeal, the Ld. CIT (A) opined that the 3 Bhagatram, Hyd. entire bogus purchase of Rs. 93,…

Shri Asharaf Khan Kureshi, Jaipur vs. Income Tax Officer, Ward-5-4, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 901/JPR/2019[2013-14]Status: DisposedITAT Jaipur17 Jun 2020AY 2013-14
For Appellant: Shri Amit Kumar Jain (CA)For Respondent: Ms. Chanchal Meena (Addl.CIT)
Section 131Section 145(3)

…ect true affairs and results of the business activity of the assessee. The ld DR has thus contended that the A.O. was justified in rejecting books of account. She has relied upon the decision of the Hon’ble Supreme Court in the case of Kachwala Gems Vs Jt.CIT 288 ITR 10 (SC). 6. We have considered the rival submissions as well as relevant material on record. Undisputed facts as emerging from the record regarding maintenance of books of account are that the assessee, 6 ITA 901/JP/2019_ Asharaf Khan Kureshi Vs ITO though, prepared trading and P&L account, however, all the transactions of purchase and sale shown b…

Bhagatram, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-5(1), Hyderabad

The appeals of the assessee are allowed for all the relevant assessment years

ITA 1063/HYD/2019[2011-12]Status: DisposedITAT Hyderabad20 Mar 2020AY 2011-12

Bench: Shri A. Mohan Alankamony

For Appellant: Sri K.C. DevdasFor Respondent: Sri Sunil Kumar Pandey, DR
Section 132Section 143(3)Section 147

…genuine. Reliance was placed in the decision of the Jaipur Bench of the Tribunal in the case of M/s. Kachwala Gems vs. JCIT in ITA No. 134/JP/2002, dated 10/12/2003 and the decision of the Hon’ble Apex Court in the case M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 wherein it was held that even payment by account payee cheque is not sufficient to establish the genuineness of the purchases. (iii) The onus lies on the assessee to prove the genuineness of the expenditure which is claimed as deduction while computing the taxable income and in the case of the assessee for all the relevant AYs the assessee has fai…

Bhagatram, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-5(1), Hyderabad

The appeals of the assessee are allowed for all the relevant assessment years

ITA 1062/HYD/2019[2010-11]Status: DisposedITAT Hyderabad20 Mar 2020AY 2010-11

Bench: Shri A. Mohan Alankamony

For Appellant: Sri K.C. DevdasFor Respondent: Sri Sunil Kumar Pandey, DR
Section 132Section 143(3)Section 147

…genuine. Reliance was placed in the decision of the Jaipur Bench of the Tribunal in the case of M/s. Kachwala Gems vs. JCIT in ITA No. 134/JP/2002, dated 10/12/2003 and the decision of the Hon’ble Apex Court in the case M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 wherein it was held that even payment by account payee cheque is not sufficient to establish the genuineness of the purchases. (iii) The onus lies on the assessee to prove the genuineness of the expenditure which is claimed as deduction while computing the taxable income and in the case of the assessee for all the relevant AYs the assessee has fai…

Bhagatram, Hyderabad vs. Income Tax Officer, Ward-5(3), Hyderabad

The appeals of the assessee are allowed for all the relevant assessment years

ITA 1364/HYD/2018[2014-15]Status: DisposedITAT Hyderabad20 Mar 2020AY 2014-15

Bench: Shri A. Mohan Alankamony

For Appellant: Sri K.C. DevdasFor Respondent: Sri Sunil Kumar Pandey, DR
Section 132Section 143(3)Section 147

…genuine. Reliance was placed in the decision of the Jaipur Bench of the Tribunal in the case of M/s. Kachwala Gems vs. JCIT in ITA No. 134/JP/2002, dated 10/12/2003 and the decision of the Hon’ble Apex Court in the case M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 wherein it was held that even payment by account payee cheque is not sufficient to establish the genuineness of the purchases. (iii) The onus lies on the assessee to prove the genuineness of the expenditure which is claimed as deduction while computing the taxable income and in the case of the assessee for all the relevant AYs the assessee has fai…

Bhagatram, Hyderabad vs. Income Tax Officer, Ward-5(3), Hyderabad

The appeals of the assessee are allowed for all the relevant assessment years

ITA 1363/HYD/2018[2013-14]Status: DisposedITAT Hyderabad20 Mar 2020AY 2013-14

Bench: Shri A. Mohan Alankamony

For Appellant: Sri K.C. DevdasFor Respondent: Sri Sunil Kumar Pandey, DR
Section 132Section 143(3)Section 147

…genuine. Reliance was placed in the decision of the Jaipur Bench of the Tribunal in the case of M/s. Kachwala Gems vs. JCIT in ITA No. 134/JP/2002, dated 10/12/2003 and the decision of the Hon’ble Apex Court in the case M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 wherein it was held that even payment by account payee cheque is not sufficient to establish the genuineness of the purchases. (iii) The onus lies on the assessee to prove the genuineness of the expenditure which is claimed as deduction while computing the taxable income and in the case of the assessee for all the relevant AYs the assessee has fai…

Bhagatram, Hyderabad vs. Income Tax Officer, Ward-5(3), Hyderabad

The appeals of the assessee are allowed for all the relevant assessment years

ITA 1362/HYD/2018[2008-09]Status: DisposedITAT Hyderabad20 Mar 2020AY 2008-09

Bench: Shri A. Mohan Alankamony

For Appellant: Sri K.C. DevdasFor Respondent: Sri Sunil Kumar Pandey, DR
Section 132Section 143(3)Section 147

…genuine. Reliance was placed in the decision of the Jaipur Bench of the Tribunal in the case of M/s. Kachwala Gems vs. JCIT in ITA No. 134/JP/2002, dated 10/12/2003 and the decision of the Hon’ble Apex Court in the case M/s. Kachwala Gems vs. JCIT reported in 288 ITR 10 wherein it was held that even payment by account payee cheque is not sufficient to establish the genuineness of the purchases. (iii) The onus lies on the assessee to prove the genuineness of the expenditure which is claimed as deduction while computing the taxable income and in the case of the assessee for all the relevant AYs the assessee has fai…

ITO 17(`1)(1), Mumbai vs. Mr.Arvind Ramswaroop Modi, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1189/MUM/2019[2010-11]Status: DisposedITAT Mumbai13 Mar 2020AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleincome Tax Officer V. Shri Arvind Ramswaroop Modi M-7, Gokul Building Ward – 17(1)(1) 90-A, Baroda Street Room No. 115, 1St Floor Masjid Bunder Aayakar Bhavan, M.K. Road Mumbai – 400 009 Mumbai – 400 020 Pan: Ahrpm1154B (Appellant) (Respondent) Assessee By : None Department By : Shri Kiran Unavekar

For Appellant: NoneFor Respondent: Shri Kiran Unavekar
Section 133(6)Section 143(1)Section 147

…oss verification and examination. The appellant has submitted that payments to supplier was made through banking channel. In this regard, the AO relied on the decision of Hon'ble ITAT Jaipur in case of M/s.Kachwala Gems vs, JCIT (2006) CR (Supreme Court) 585; 288 ITR 10 (SC), wherein it is held that even payment by banking channel is not sufficient to establish the genuineness of the 5 Shri Arvind Ramswaroop Modi transactions. Also, the assessee showed sales against the purchases. The appellant has failed to corroborative evidence to prove the genuineness of the transactions. No contemporaneous record establishin…

ITO, New Delhi vs. Sh. Sunil Nayyar, Delhi

In the result, the appeal of the revenue is dismissed and Cross

ITA 6168/DEL/2016[2012-13]Status: DisposedITAT Delhi24 Feb 2020AY 2012-13

Bench: Sh. Kuldip Singhdr. B. R. R. Kumarita No. 6168/Del/2016 : Asstt. Year : 2012-13 Income Tax Officer, Vs Sh. Sunil Nayyar, Ward-49(3), R/O 81-A, Vikrant Enclave, New Delhi Mayapuri, New Delhi-110064 (Appellant) (Respondent) Pan No. Abvpn3963B

For Appellant: Sh. Jagdish Ajmani, CAFor Respondent: Sh. Saras Kumar, Sr. DR
Section 68

…ll not be a wild one, but shall have a reasonable nexus to the available material and the circumstances of each case." d. The above principal has been confirmed by the honorable Supreme Court in number of judgment. Thus, in the case of Kachwala Gems Vs JCIT, 288 ITR 10 (2007)(SC). The apex court has held "after rejection of book results, AO should try to make an honest and fair estimate of the income even in a best judgment assessment and should not act totally arbitrarily, the AO should adopt a method which must reflect the profits truly and justly [Gemini Pictures Ltd. vs CIT (1958) 33 ITR 547 (Mad).] For esti…

Indianivesh Insurance Brokers Pvt. Ltd., Mumbai vs. DCIT Circle- 4(1)(1), Mumbai

In the result, appeal stands allowed for statistical purposes

ITA 6843/MUM/2018[2014-15]Status: DisposedITAT Mumbai14 Feb 2020AY 2014-15

Bench: Shri Shamim Yahya (Am)

Section 35Section 35(1)Section 35(1)(ii)

…ain features of the case which belie the documentary evidence." In the case of M/s. Kachwala Gems vs. JCIT ITAT No. 134/JP/2002 dated 10.12.2013, which has been affirmed by the Supreme Court in the case of M/s. Kachwala Gems vs. JCIT (2006) 206 CTR (SC) 585, 288 ITR 10 (SC), it was held that payment by account payee cheque is not sufficient to establish the genuineness of purchases. Further, in the case of CIT vs. Prashant (P) (1994) 121 CTR (Cal) 20, the Calcutta High Court has held that even payment by account payee cheque is not sacrosanct and it would not make an otherwise non-genuine transaction genuine. 6…

Sl Lumax Limited, Kanchipuram vs. DCIT Corporate Circle 6(2), Chennai

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

ITA 1692/CHNY/2019[2013-14]Status: DisposedITAT Chennai10 Feb 2020AY 2013-14

Bench: Shri Ramit Kochar & Shri Duvvuru R.L.Reddy*नधा,रण वष, /Assessment Year: 2013-14 M/S.Sl Lumax Ltd., V. The Principal Commissioner G-14, 15 & 25, Sipcot Industrial Of Income Tax, Room No.602, Park, Irrungattukottai, Vi Floor, Aayakar Bhawan, Sriperumbudur-602 117. New Block, Mahatama Gandhi Kancheepuram District. Road, Nungambakkam, Chennai-600034. [Pan: Aaacl 1857 B] (अपीलाथ//Appellant) (01यथ//Respondent) : Mr. Vikram Vijayaraghavan, अपीलाथ/ क2 ओर से/ Appellant By Adv. : Mr. A.Sundararajan, Cit 01यथ/ क2 ओर से /Respondent By : 28.11.2019 सुनवाई क2 तार"ख/Date Of Hearing : 10.02.2020 घोषणा क2 तार"ख /Date Of Pronouncement आदेश / O R D E R Per Ramit Kochar:

For Respondent: 28.11.2019
Section 143(3)Section 144C(3)Section 263Section 92C

…year. It is also well settled that an estimates would always entail some guess work but the said estimate has to be an honest and fair guess work . Reference is drawn to decision of Hon’ble Supreme Court in the case of Kachwala Gems v. JCIT reported in (2007) 288 ITR 10(SC) , although it was rendered in the context of best judgment assessment. Merely because, the provision for warranties made during the year under consideration is in excess of claims received during the year under consideration, could not be a reason for disallowing said claim unless it is shown that provision for warranties made during the y…

Ramnik Sushil Choudhary, Thane vs. Asst CIT 3, Thane

Accordingly, grounds raised by the assessee are dismissed and grounds raised by the revenue are partly allowed

ITA 5596/MUM/2016[2011-12]Status: DisposedITAT Mumbai10 Feb 2020AY 2011-12

Bench: Shri Pawan Singh, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 5596/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2011-12)

For Appellant: Shri Aditya AjgaonkarFor Respondent: Shri V. Vinod Kumar
Section 147Section 148

…723/-(20,68,31,682 x 5.73/100 less GP declared RS.63,55,840). In compliance, the Ld. AR could not offer any valid reasons for fall in the GP rate. Considering the facts in entirety and relying on decisions in the case of M/s. Kanchwala Gems Pvt. Ltd. V/s JCIT 288 ITR 10 (SC), etc, as quoted above, in my considered opinion, the estimation of GP @ 5.73% will be reasonable, therefore, the disallowance to the extent of Rs 55,01,723 A out of hawala purchases of Rs 1,36,75,254/-, is sustained as requested by the Ld. AR and balance amount of Rs 81,73,530/- (Rs. 1,36,75,254/- Less Rs 55,01,723/-), is hereby deleted. Acco…

DCIT Cirlce-2, Thane vs. Shir Pahadsingh L Rajput, Thane

In the result, appeal filed by the Revenue stands dismissed and cross-objections filed by the assessee stands dismissed as withdrawn

ITA 368/MUM/2019[2010-11]Status: DisposedITAT Mumbai05 Feb 2020AY 2010-11

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm

Section 133(6)Section 143(1)Section 147

…ion of the Hon'ble Gujarat High Court in Tax Appeal No. 242 of 2003 dated 20/06/2016 in the case of N. K. Proteins Ltd. against which the SLP was dismissed by the Hon'ble Apex Court and also decision of Hon'ble Supreme Court in case of Kanchwala Gems V/s JCIT 288 ITR 10 (SC)?. 6. The appellant craves leave to add, amend, alter or delete any ground of appeal. 7. The order of the CIT(A) may be vacated and that of the assessing officer may be restored.” 4. The brief facts of the case are that the assessee filed his return of income on 14.10.2010 declaring total income to the tune of Rs.9,76,840/- for the A.Y. 2010-…

Acg Arts & Properties P.Ltd, Mumbai vs. DCIT Cen Cir 42, Mumbai

The appeal stands allowed for statistical purposes

ITA 2749/MUM/2014[2008-09]Status: DisposedITAT Mumbai29 Jan 2020AY 2008-09

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No. 2749/Mum/2014 (िनधा"रण वष" / Assessment Year: 2008-09) Acg Arts & Properties Pvt. Ltd. Dcit-Central Circle-42 बनाम/ 1001, Dalamal House Aaykar Bhavan 10Th Floor, Nariman Point M.K.Road Vs. Mumbai – 400 021 Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacu-0615-L (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: S/Shri J.D.Mistry & Madhur Aggarwal-For Respondent: Shri Harshad Vengurlekar-Ld. DR
Section 143(3)Section 153B

…ACG Arts & Properties Private Limited Assessment Year 2008-09 (ii) In the case of M/s.Kachwala Gems vs. JCIT, ITA No.134/JP/2002 dated 10.12.2003, which has been affirmed by the Supreme Court in the case of M/s.Kachwala Gems vs. JCIT (2006) 206 CTR (SC) 585, 288 ITR 10 (SC), it was held that payment by account payee cheque is not sufficient to establish the genuineness of purchases. (iii) In the case of CIT vs. Prashant (P) (1994) 121 CTR (Cal.) 20, the Calcutta High Court has held that even payment by account payee cheque is not sacrosanct and it would not make an otherwise non-genuine transaction genuine. (iv)…

ITO-26(2)(4), Mumbai vs. Pankaj Agarwal, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 6/MUM/2019[2010-11]Status: DisposedITAT Mumbai23 Jan 2020AY 2010-11

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.06/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) Ito-26(2)(4) बिधम/ Pankaj Agarwal Room No.511, 5Th Floor, C- A/102, Twin Star Chs, Vs. Shristhi Complex, Saki 11, Bandra Kurla Complex, Vihar Road, Powai, Bandra (E), Mumbai- Mumbai-400072. 400051. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abmpa0824F (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Akhtar Ali Ansari (Dr) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 09/01/2020 घोषणा की तारीख /Date Of Pronouncement: 23/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 24.07.2018 Passed By The Commissioner Of Income Tax (Appeals) -38, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. 2. The Revenue Has Raised The Following Grounds: -

For Appellant: NoneFor Respondent: Shri Akhtar Ali Ansari (DR)
Section 143(1)Section 143(2)Section 147Section 148Section 40A(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.06/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) ITO-26(2)(4) बिधम/ Pankaj Agarwal Room No.511, 5th Floor, C- A/102, Twin Star CHS, Vs. Shristhi Complex, Saki 11, Bandra Kurla Complex, Vihar Road, Powai, Bandra (E), Mumbai- Mumbai-400072. 400051. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ABMPA0824F (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue by: Shri Akhtar Ali Ansari (DR) Assessee by: None सुनवाई की तारीख / Date of Hearing: 09/01/2020 घोषणा की तारीख /Date of…

ITO, Ward- 3 (3), Kalyan vs. Nimesh S. Desai, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 6184/MUM/2018[2009-10]Status: DisposedITAT Mumbai16 Dec 2019AY 2009-10

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2009-10 Income Tax Officer, Ward- Shri Nimesh S Desai, 3(3), Kalyan. Vs. C/O M/S Mahendra H Shah & Co., Cas, 12, Shivaji Fort Chs Ltd., N S Mankikar Marg, Sion (East), Mumbai-400022. Pan No. Aabpd8663R Appellant Respondent

For Appellant: Shri G.C. Lalka, ARFor Respondent: Smt. Jothilakshmi Nayak, Sr. DR
Section 143(3)Section 148

…sion of the Hon'ble Gujarat High Court in Tax Appeal No. 242 of 2003 dated 20/06/2016 in the case of N K. Proteins Ltd. against which the SLP was dismissed by the Hon'ble Apex Court and also decision of Hon'ble Supreme Court in case of Kanchwala Gems V/s JCIT 288 ITR 10 (SC)? 3. Briefly stated, the facts of the case are that the assessee filed his return of income for the assessment year (AY) 2009-10 on 27.09.2009 declaring total income of Rs.1,71,280/-. The assessee is a trader and supplier of all types of engineering goods, hardware items, cables, pipe fittings, valve etc. On receipt of information from the Sal…

ITO 17 (1)(1), Mumbai vs. Acme Tools Centre, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 5520/MUM/2018[2010-11]Status: DisposedITAT Mumbai29 Nov 2019AY 2010-11

Bench: Shri S. Rifaur Rahman & Shri Ram Lal Negi

Section 143(3)Section 147Section 148

…cross verification and examination. The appellant has submitted that payments to suppliers were made through account payee cheques. In this regard, the AO relied on the decision of Hon'ble ITAT Jaipur in case of M/s.Kachwala Gems vs. JCIT [2006) CR (SC) 585 : 288 ITR 10 (SC), wherein it is held that even payment by account payee cheque is not sufficient to establish the genuineness of the transactions. The appellant has failed to corroborative evidence to prove the genuineness of the transactions. No contemporaneous record establishing the receipt of goods purported to have been purchased from the parties have be…

ITO, Ward- 3 (2), Kalyan vs. Ganesh Masrooji Desai, Kalyan

In the result, the appeal filed by the revenue is dismissed

ITA 6187/MUM/2018[2010-11]Status: DisposedITAT Mumbai28 Nov 2019AY 2010-11

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2010-11 The Income Tax Officer, Ward Shri Ganesh Masrooji Desai, 3(2), Kalyan, 2Nd Floor, Rani Vs. Prop. Ganesh Steel (India), Shop Mansion, Murbad Road, No.- 1, Sonarpada, Kalyanshil Kalyan (W), 421301. Road, Opp. Dns Bank, Dombivali-421202. Pan No. Ahhpd9971B Appellant Respondent Revenue By : Smt. Jothilakshmi Nayak, Sr. Dr Assessee By : None Date Of Hearing : 25/11/2019 Date Of Pronouncement : 28/11/2019

For Appellant: NoneFor Respondent: Smt. Jothilakshmi Nayak, Sr. DR
Section 133(6)Section 143(3)Section 148Section 69C

…sion of the Hon'ble Gujarat High Court in Tax Appeal No. 242 of 2003 dated 20/06/2016 in the case of N K. Proteins Ltd. against which the SLP was dismissed by the Hon'ble Apex Court and also decision of Hon'ble Supreme Court in case of Kanchwala Gems V/s JCIT 288 ITR 10 (SC)? Shri Ganesh Masrooji Desai 3 3. Briefly stated, the facts of the case are that the assessee filed his return of income for the assessment year (AY) 2010-11on 22.09.2010 declaring total income of Rs.1,48,170/-. On receipt of information from the Sales Tax Department, Government of Maharashtra that the assessee had made bogus purchases from t…