KishinchandChellaram v. CIT

ITO, Ward- 19(2), New Delhi vs. P & R Engineering Services Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumarms. Astha Chandra

…and no documentary evidence was supplied to assessee, could not be considered in making addition on account of alleged accommodation entries - Held, yes [Paras 3 & 4]” iv) Reliance can also be placed on the following case laws:  Sona Electric Co. vs. CIT, 152 ITR 507 (DEL)  Amar Singh vs ITO 53 TTJ (DEL) 692  Virendra Kumar Saklechavs DCIT. 59 TTJ (Ind) 785 UdeyrajaGoliya (HUF) vs. ACIT, 64 ITD (Bom) 21 (TM) 15. Hon’ble Delhi High Court in its various judgments on accommodation entries, has clearly held that if confirmation, PAN, IT Return, Bank account etc. are filed, the addition could not be sustained.”…

B.R Goel & Sons (HUF), New Delhi vs. ITO Ward - 47(4), New Delhi

In the result appeal of assessee is allowed

Bench: Shri Chandra Mohan Garg & Shri B.R.R. Kumarassessment Year: 2011-12 B.R. Goel & Sons (Huf) Ito, Ward 47(4), Drum 1228, Kaccha Bagh, Shape Building, I.P Chandani Chowk, Delhi Vs. Extension, New Delhi 110006 110002 Pin Aadhb5670C (Appellant) (Respondent) For Assessee: Shri C.S Anand, Advocate For Revenue : Shri Kanv Bali, Sr.Dr

…ion u/s. 68 of the Act of entire amount of cash deposited to the bank accounts of the assessee. The learned counsel also place reliance on the judgment Hon’ble jurisdictional High Court of Delhi in the case of Sona Electric Co. vs. Commissioner of Income Tax (152 ITR 507) and order of ITAT Delhi in the case of ITO vs. Mrs. Deepali Sehgal (ITA No. 5660/Del/2012 order dated 05.09.2014 and Smt. Parminder Kaur Matharoo vs. ITO (ITA No. 840/Del/2021 order dated 15.11.2022 and submitted that addition made by the AO and upheld the Ld. CIT(A) may kindly be set aside and deleted. B.R. Goel & Sons (HUF) Page 13 of 16 9. Re…

Rakesh Vaid, New Delhi vs. ITO Ward - 62(2), New Delhi

In the result, assessee’s appeal, ITA no

Bench: Shri Kul Bharat[Assessment Year: 2010-11]

…cannot be ESIC returns and as claimed by the assessee unreasonably rejected as has been held by the reveals that they are also different for the Hon'ble Delhi High Court in the case of Sona months of January and March 2010. The Electric Co. v CIT reported in 152 ITR 507 at purchase bills submitted amounting to Rs. page 512 wherein it has been observed as 1,63,272/- do not in any way reflect their under: “We think that the section makes it genuineness or their purpose. The details of clear that the entry can be rejected if the bonus paid to the employees also explanation offered by the assessee can be contradicto…

ACIT, Circle-19(2), New Delhi vs. P & R Infraprojects Ltd, New Delhi

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

…on the following case laws:- KishmichandChella Ram vs. CIT, 125 ITR 713 (SC) Pr. CIT vs. M/s Rakam Money Matters Pvt. Ltd., 2015-TIOL-2521-HC-DEL 5 CIT vs. A.L. LaLpuria Construction (P.) LtD. [2013] 32 taxmann.com 384 (Rajasthan) Sona Electric Co. vs. CIT, 152 ITR 507 (DEL) Amar Singh vs ITO, 53 TTJ (DEL) 692 Virendra Kumar Saklechavs DCIT, 59 TTJ (Ind) 785 UdeyrajaGoliya (HUF) vs. ACIT, 64 ITD (Bom) 21 (TM) 6.2.8 The Ld. AR also argued that additions have been made on the basis of survey report and the report received from the investigation wing on the commission issued by the Ld. AO but the same were not pro…

Inder Mohan Khurana, New Delhi vs. ITO, New Delhi

The appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

…. Dv. CIT ^ 381 ITR 428.(Del.) 3. Dr. Mrs. K.B. Kumar v. Income-tax Officer [2011] 12 taxmann.com 318 (Delhi) & 47 SOT 192 4. Smt. Prabhavati S. Shah r. CIT 231 ITR 1 (Bom.) 5. CIT v. Navodaya Castles Pvt. Ltd. 367 ITR 306 (Del.) 6. Sona Electronic Co. v. CIT 152 ITR 507(Del). 7. Abhishek Jain v. Income Tax Officer 405 ITR 1 (Del.) 8. Padamsundara Rao (DECD) and Others v. State of Tamilnadu and Others [2002] 255 ITR 147(S.C) 9. Returns & Jurisdiction 10. Sardar Baldev Sing v. CIT 40 ITR 605(S.C) 11. Section 64 of 1922Act Sr. No. Particulars 1. Assessment Order for A.Y. 2001-02 2. Assessment Order for A.Y. 2006-0…

Lg Electronics Inc., Korea (Lgek), Noida vs. DCIT, Circle- 2(2)(1), International Taxation, New Delhi

In the result all the 9 appeals filed by the assessee are allowed with above direction for statistical purposes

Bench: Smt Diva Singh & Shri Prashant Maharishi

…said statement has no evidentiary value and cannot also be relied upon by the AO as in the nature of information. He referred to decision in Andaman Timber Industries vs. CCE: (2015) 62 taxmann.com 3 (SC)/ (2015) 52 GST 355 (SC) and Sona Electric Co. vs. CIT 152 ITR 507 (Del). He submitted that drawing analogy from the aforesaid; it is the submission of the Appellant that the statements recorded during the course of survey have to be excluded from consideration. 62. On the issue of reliance by the ld DR on the decision of Honorable Allahabad High court, where in The ld CIT DR contended that the observations of t…

M/S. Lg Electronics Inc., Korea (Lgek), Noida vs. DCIT (International Taxation), Noida

In the result all the 9 appeals filed by the assessee are allowed with above direction for statistical purposes

Bench: Smt Diva Singh & Shri Prashant Maharishi

…said statement has no evidentiary value and cannot also be relied upon by the AO as in the nature of information. He referred to decision in Andaman Timber Industries vs. CCE: (2015) 62 taxmann.com 3 (SC)/ (2015) 52 GST 355 (SC) and Sona Electric Co. vs. CIT 152 ITR 507 (Del). He submitted that drawing analogy from the aforesaid; it is the submission of the Appellant that the statements recorded during the course of survey have to be excluded from consideration. 62. On the issue of reliance by the ld DR on the decision of Honorable Allahabad High court, where in The ld CIT DR contended that the observations of t…

Lg Electronics Inc., Korea (Lgek), Noida vs. DCIT, Circle- Noida, International Taxation, Noida

In the result all the 9 appeals filed by the assessee are allowed with above direction for statistical purposes

Bench: Smt Diva Singh & Shri Prashant Maharishi

…said statement has no evidentiary value and cannot also be relied upon by the AO as in the nature of information. He referred to decision in Andaman Timber Industries vs. CCE: (2015) 62 taxmann.com 3 (SC)/ (2015) 52 GST 355 (SC) and Sona Electric Co. vs. CIT 152 ITR 507 (Del). He submitted that drawing analogy from the aforesaid; it is the submission of the Appellant that the statements recorded during the course of survey have to be excluded from consideration. 62. On the issue of reliance by the ld DR on the decision of Honorable Allahabad High court, where in The ld CIT DR contended that the observations of t…

Late Sh. Dinesh Kumar Jain (Through Legal Heir Sh. Ankit Jain) vs. Principal Commissioner of Income Tax, New Delhi

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

…ibunal in not accepting the explanation of the appellant are perverse. Our attention is drawn to the judgment of the Gujarat High Court in Uganda Industries Co. v. CIT, (1986) 158 ITR 567(Guj.) and decision of this Court in Sona Electric Co. v. CIT, (1985) 152 ITR 507(Del.). 6. The Income Tax Appellate Tribunal, in the impugned order, has rejected the aforesaid explanation, recording as under:- “6. We have considered the rival contentions and do not find any merit in this ground of appeal of assessee. It is well settled law that Ld. CIT(A) being the First Appellate Authority has co-terminus powers to t…

DCIT, New Delhi vs. M/S. Suncity Projects Pvt. Ltd., New Delhi

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm

…Orissa) " P.S Abdul Majee vs. ACIT & STO 209 ITR 821 " M.O. Thomakutty vs. CIT 34 ITR 501 " Vasanti Lal & Co. vs. CIT 45 ITR 206 (SC) " State of Kerala vs. K.T. Shadull AIR 19971627 (SC) " Kishen Chart Chellaram vs. CIT 125 ITR 713 " Sona Electric Co. vs. CIT 152 ITR 507(Del) " Narayan Chandra Baidya vs. CIT (1951) 20 ITR 207 " VOI vs. T.R. Verma (SC) (1959) 882 " Seth Gurumukh Singh vs. CIT (1944) 12 ITR 393 " CIT vs. Eastern Commercial Enterprises (1944) 210 ITR 104 (Cal) 12. It was further submitted as under: “………..Addition of Rs.6,61,00,000/- on account of advance against booking. Your honor at the outset in…

Principal Commissioner of Income Tax - 7 vs. Bikram Singh

The appeal is allowed in the above terms

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

…trength to part with such huge sums of money and the transactions, as revealed from chronology of opening of bank accounts, deposits of cash and then the loan transaction, establish lack of genuinity. 36. The Assessee also relied upon Sona Electric Co. v. CIT 152 ITR 507 (hereafter ‘Sona Electric’) to argue that mere suspicion is not enough. However, in this case the Court appears to have been persuaded to hold in favour of the Assessee as the Assessee was not allowed to cross-examine the witness, whose statement was recorded and that there was an admitted supply of goods against which the payment was made. Thus,…

ITO, New Delhi vs. Vineet Gupta, New Delhi

In the result, all the three appeals of the Revenue are dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. O.P. Kant

…ought out any material to rebut explanation of the assessee. In such circumstances, the explanation tendered by the assessee cannot be rejected arbitrarily as has been held by the Hon’ble Jurisdictional High Court in the case of Sona Electric Co. Ltd. vs. CIT 152 ITR 507. It is also a matter of fact that there is no other source of income as the appellant is salaried employee. An affidavit filed by the appellant, statements of the appellant without rebutting the contents thereof cannot be disregarded as has been held by the Hon’ble Apex Court in the case of Mehta Parikh & Company vs. CIT 30 ITR 181 and Hon’ble Ma…

ITO, New Delhi vs. Vineet Gupta, New Delhi

In the result, all the three appeals of the Revenue are dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. O.P. Kant

…ought out any material to rebut explanation of the assessee. In such circumstances, the explanation tendered by the assessee cannot be rejected arbitrarily as has been held by the Hon’ble Jurisdictional High Court in the case of Sona Electric Co. Ltd. vs. CIT 152 ITR 507. It is also a matter of fact that there is no other source of income as the appellant is salaried employee. An affidavit filed by the appellant, statements of the appellant without rebutting the contents thereof cannot be disregarded as has been held by the Hon’ble Apex Court in the case of Mehta Parikh & Company vs. CIT 30 ITR 181 and Hon’ble Ma…

ITO, New Delhi vs. Vineet Gupta, New Delhi

In the result, all the three appeals of the Revenue are dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. O.P. Kant

…ought out any material to rebut explanation of the assessee. In such circumstances, the explanation tendered by the assessee cannot be rejected arbitrarily as has been held by the Hon’ble Jurisdictional High Court in the case of Sona Electric Co. Ltd. vs. CIT 152 ITR 507. It is also a matter of fact that there is no other source of income as the appellant is salaried employee. An affidavit filed by the appellant, statements of the appellant without rebutting the contents thereof cannot be disregarded as has been held by the Hon’ble Apex Court in the case of Mehta Parikh & Company vs. CIT 30 ITR 181 and Hon’ble Ma…

Commissioner of Income Tax vs. Link Engineer Pvt Ltd

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

…ITA 436/2014 Page 4 of 5 that the addition cannot be made on the statement of Mr. S.K. Gupta which has later been retracted. There is merit in argument of the assessee. Following the decision of Hon'ble Delhi High Court in Cona Electric Co v CIT 152 ITR 507 It is held the statement of Sh. S K Gupta may be excluded from consideration, similarly the statement of M D Gupta also needs to be excluded from consideration.” 5. The impugned order of the ITAT recorded as follows: “After carefully considering the arguments and written submissions of both the sides in the light of case laws cited, we find…

ITO Ward 17 (4) vs. Vital Communication Ltd

In the result, the Appeal filed by the Revenue stand dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2003-04

…making any addition:- Sarogi Credit Corp. vs. CIT 103 ITR 344/345 (Pat.) I. Add!. CIT vs.Bahri Bros (P) Ltd. 154 ITR 244(Pat.) 23 2. CIT vs. Daulatram Rawatmal 87 ITR 349/350 (SC) 3. CIT VS. Ram Narain Goel 224 ITR 180 (P&H) 4. Sona E1ec. Co. vs. (IT 152 ITR 507/508 (Delhi) 5. Jalan Timbers vs. (IT 223 ITR 11116 (Gau.) 6. Nemi Chand Kothari vs. CIT 264 ITR 254 (Gauhati) 5.16 Assessing Officer has made certain adverse observations in the assessment order which have been met by the appellant in its written submissions. I have considered the adverse observations made by AO and reply of the appellant a…