Krishnanand Agnihotri v. The State of Madhya Pradesh

INCOME TAX OFFICER-3(1), KANPUR vs. SHRI ARVIND KUMAR GUPTA, KANPUR

In the result, the appeal is held to be allowed for statistical purposes

Bench: SH.KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY (Accountant Member)

…(A) quoted from the judgments of the Hon’ble Allahabad High Court in the case of CIT vs. Udit Narayan Agarwal in ITA No.560/2009 dated 12.12.2012 and the judgment of Hon’ble Supreme Court in the case of Krishnanand Agnihotri vs. State of Madhya Pradesh (1977) 1 SCC 816 (SC),to hold that the assessee had discharged its burden of proof and there was no material with the ld. AO to show that the share prices of M/s Kailash Auto Finance were rigged in the case of the assessee or that the assessee had participated in any scheme of procuring bogus entry of share sales to show bogus capital gains. Finally, since neither…

SUNEEL KUMAR AGRAWAL,LAKHIMPUR KHERI vs. INCOME TAX OFFICER 3(5), LAKHIMPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri Sudhanshu Srivastavaa.Ys. 2017-18 Suneel Kumar Agarwal, Vs. Income Tax Officer-3(5), Old Galla Mandi, Lakhimpur - Kheri Lakhimpur Kheri-262701 Pan Agfpa 3061J (Appellant) (Respondent) Appellant By Shri P.K. Kapoor, Ca Respondent By Shri Sanjeev Krishna Sharma, Addl. Cit( Dr) Date Of Hearing 20/03/2024 Date Of Pronouncement 13/06/2024 O R D E R This Appeal Has Been Preferred By The Assessee Against Order Dated 10.02.2023 Passed By The Ld. Commissioner Of The Income Tax (Appeal) [Hereinafter Called The ‘Cit(A)’], Lucknow-3 For Assessment Year (Ay) 2017-18. 2.0 The Brief Facts Of The Case, As Appearing From The Assessment Order, Are That The Assessee Is Engaged In Trading Of Edible Oil, Food Grains, Khandsari, Sugar, Atta, Maida & Suji Etc. A Warrant U/S. 132A Of The Income Tax Act, 1961 (Hereinafter Called The ‘Act’) Was Served On The Assessee On 02.02.2017 & A Sum Of Rs.14,64,000/- Was Seized From The Possession Of The Assessee.

…d is conclusive, there can exist no dispute, nor shall there be any doubt. In such a situation, the assessee cannot be condemned on preponderance of probability. The Hon'ble Apex Court in the case of ‘Krishna Nand Agnihotri vs. State of Madhya Pradesh’ (1997) 1 SCC 816 held that it is not enough to show circumstances which might create suspicion because the Court cannot decide on the basis of suspicion. It has to act on legal grounds established by evidence. Therefore, in view of the above, I am unable to concur with the orders of the lower authorities and 11 I set aside the order of the ld. CIT(A) and direct the…

INCOME TAX OFFICER-3(4), KANPUR vs. SHRI SANTOSH KUMAR AGARWAL, KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri T. S. Kapoor

…ion. The Tribunal has not committee any error in upholding the order of CIT(Appeals) on this point, "The appeal fails and is dismissed. Order Date :- 12.12.2012" Hon'ble Supreme Court in the case of Krishnanand Agnihotri vs. The State of Madhya Pradesh [1977] 1 SCC 816 (SC) held that the burden of showing that a particular transaction is benami and the appellant owner is not the real owner always rests on the person asserting it to be so and the burden has to be strictly discharged by adducing evidence of a definite character which would directly prove the fact of benami or establish circumstances unerringly and…

INCOME TAX OFFICER-1(3), KANPUR vs. SHRI RAJ KUMAR AGARWAL, KANPUR

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

Bench: Shri T.S. Kapoor

…ion. The Tribunal has not committee any error in upholding the order of CIT(Appeals) on this point, "The appeal fails and is dismissed. Order Date :- 12.12.2012" Hon'ble Supreme Court in the case of Krishnanand Agnihotri vs. The State of Madhya Pradesh [1977] 1 SCC 816 (SC) held that the burden of showing that a particular transaction is benami and the appellant owner is not the real owner always rests on the person asserting it to be so and the burden has to be strictly discharged by adducing evidence of a definite character which would directly prove the fact of benami or establish circumstances unerringly and…

SMT. SABREEN,KANPUR vs. INCOME TAX OFFICER-3(4), KANPUR

In the result, the appeal of the assessee stands partly allowed and Stay Application is dismissed as infructuous

Bench: Shri A. D. Jain & Shri T. S. Kapoor

…ssee has furnished all evidences in support of the genuineness of the transactions, the onus to disprove the same is on revenue. He referred to the judgement of Hon’ble Supreme Court in the case of Krishnan and Agnihotri vs. The State of Madhya Pradesh [1977] 1 SCC 816 (SC). In this case the Hon’ble Apex Court held that the burden of showing that a particular transaction is benami and the appellant owner is not the real owner always rests on the person asserting it to be so and the burden has to be strictly discharged by adducing evidence of a definite character which would directly prove the fact of I.T.A. No.49…

SHRI UMA SHANKER DHANDHANIA,KANPUR vs. INCOME TAX OFFICER - 1(5), KANPUR

Bench: Shri A.D Jain & Shri T.S. Kapoor

…ssee has furnished all evidences in support of the genuineness of the transactions, the onus to disprove the same is on revenue. He referred to the judgement of Hon’ble Supreme Court in the case of Krishnan and Agnihotri vs. The State of Madhya Pradesh [1977] 1 SCC 816 (SC). In this case the Hon’ble Apex Court held that the burden of showing that a particular transaction is benami and the appellant owner is not the real owner always rests on the person asserting it to be so and the burden has to be strictly discharged by adducing evidence of a definite character which would directly prove the fact of benami or es…