Krishnanand Agnihotri v. The State of Madhya Pradesh

Rohit Jalan, Kolkata vs. ITO, Ward - 36(1), Kolkata

In the result, the appeal of assessee is partly allowed

Bench: Shri A. T. Varkey, Jm] I.T.A. No. 2205/Kol/2018 Assessment Year: 2013-14

…essee 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 Krishnanand 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…

Sri Kush Nahata, Kolkata vs. ITO, Ward - 35(3), Kolkata

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1899/Kol/2018 (िनधा"रणवष" / Assessment Year: 2014-15) Shri Kush Nahata Vs. Ito, Ward-35(3), Kolkata

…assessee has furnished all evidences in support of the genuineness of the transactions, the onus to disprove the same is on revenue. We rely on the judgement of Hon’ble Supreme Court in the case of Krishnanand 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…

Hari Ram Agarwal, Kolkata vs. ITO, Ward - 22(4), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Shri Aby. T. Varkey & Shri M. Balaganeshi.T.A. No.2363/Kol/2018 (Assessment Year 2014-15) Hari Ram Agarwal Ito, Ward-22(4), Kolkata. -Vs- [Pan :Acdpa 1946 N]

…essee 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 Krishnanand 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…

Smt. Sushila Devi Kajaria, Kolkata vs. ACIT, Circle - 36, Kolkata

Bench: Shri S.S, Godara

…essee 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 Krishnanand 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…

Navin Kumar Kajaria, Kolkata vs. ACIT, Circle - 35, Kolkata

Bench: Shri S.S, Godara

…essee 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 Krishnanand 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…

Sri Vivek Jhunjhunwala, Howrah vs. ITO, Ward - 63(4), Kolkata

In the result, the appeal of assessee is partly allowed

Bench: Shri A. T. Varkey, Jm]

…essee 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 Krishnanand 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…

Vasudha Jain, Kolkata vs. ITO, Ward - 36(4), Kolkata

In the result, the appeal of assessee is partly allowed

Bench: Shri A. T. Varkey, Jm]

…essee 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 Krishnanand 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…

Shri Udit Agarwal, Kolkata vs. DCIT(It)-2(1), Kolkata

Appeal is allowed accordingly

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2014-15 Shri Udit Agarwal V/S. Dcit (It)-2(1), 110, 3, Madan Mohan Burman Shanti Pally, Kolkata- Street, Kolkataa-007 107 [Pan No.Ahupa 0424 B] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Subash Agarwal, Advocate अपीलाथ" क" ओर से/By Appellant Shri Robin Choudhury, Addl. Cit-Dr ""यथ" क" ओर से/By Respondent 03-12-2018 सुनवाई क" तार"ख/Date Of Hearing 26-12-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2014-15 Arises Against The Commissioner Of Income Tax (Appeals)-22,Kolkata’S Order Dated 10.05.2017 Passed In Case No.71/Cit(A)/22/Kol/14-15/16-17 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Learned Representatives. Case File Perused. 2. The Assessee’S Sole Substantive Ground Challenges Correctness Of Both The Lower Authorities’ Action Treating Its Long Term Capital Gains (Ltcg) Of ₹64,99,391/- To Be Unexplained Cash Credits U/S 68 Of The Act. The Cit(A)’S Detailed Discussion To This Effect Reads As Under:- ”06. Decision: 1. I Have Carefully Considered The Action Of The Ld. Ao In Treating The Amount Of Rs.67,24,391/- Being Claimed By The Appellant To Be Proceeds Of Shares Sold To Be Ltcg & Claimed As Exempt. The Findings Of The Ld. Ao Are Based On The Information Being Supplied By The Investigation Wing Of The Department At Kolkata. I Have Also Carefully Examined The Submissions Of The Appellant, Wherein

…essee 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 Krishnanand 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…

Aditya Vikram Sureka, HUF, Kolkata vs. ITO, Ward - 34(2), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 1650/Kol/2018 Assessment Year : 2014-15 Aditya Vikram Sureka Huf -Vs- Ito, Ward-34(2) , Kolkata [Pan: Aamha 4069 D] (Appellant) (Respondent)

…essee 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 Krishnanand 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…

Smt. Madhu Killa, Kolkata vs. ACIT, Circle - 36, Kolkata

In the result, appeal of assessee is allowed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

…essee 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 Krishnanand 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…

Rukmini Devi Manpuria, Kolkata vs. DCIT(It), Circle - 2(1), Kolkata

In the result, the appeal of the assessee is allowed

Bench: Hon’Ble Shri A T Varkey, Jm & Shri M.Balaganesh, Am] I.T.A No. 1724/Kol/2017 Assessment Year : 2014-15 Rukmini Devi Manpuria -Vs- Dcit(It), Circle-2(1), Kolkata [Pan: Axapm 3836 H ] (Appellant) (Respondent)

…essee 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 Krishnanand 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…

Jagmohan Agarwal, Kolkata vs. ACIT, Circle - 35, Kolkata

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

…essee 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 Krishnanand 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…

Kiran Kothari HUF, Kolkata vs. ITO, Ward 35(3), Kolkata

In the result the appeal of the assessee is allowed

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

…essee 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 Krishnanand 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…

Mahendra Kumar Baid, Kolkata vs. ACIT Circle 35, Kolkata

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri A.T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1236/Kol/2017 Assessment Year : 2014-15 Manish Kumar Baid -Vs- Acit, Cir-35, Kolkata [Pan: Ahmpb 3024 E] (Appellant) (Respondent) I.T.A No. 1237/Kol/2017 Assessment Year : 2014-15 Mahendra Kumar Baid -Vs- Acit, Cir-35, Kolkata [Pan: Aejpb 7691 C] (Appellant) (Respondent)

…essee 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 Krishnanand 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…

Manish Kumar Baid, Kolkata vs. ACIT Circle 35, Kolkata

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri A.T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1236/Kol/2017 Assessment Year : 2014-15 Manish Kumar Baid -Vs- Acit, Cir-35, Kolkata [Pan: Ahmpb 3024 E] (Appellant) (Respondent) I.T.A No. 1237/Kol/2017 Assessment Year : 2014-15 Mahendra Kumar Baid -Vs- Acit, Cir-35, Kolkata [Pan: Aejpb 7691 C] (Appellant) (Respondent)

…essee 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 Krishnanand 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…