Ltd. v. DCIT

22 SOT 7Income Tax Appellate Tribunal2008#848 most cited

What is Ltd. v. DCIT authority for?

An adverse inference cannot be drawn against an assessee based on a document found with a third party during a search, as possession is only attributable to the searched person. An addition to income based solely on an undated, unsigned seized document, without further corroborative evidence or inquiry, is not sustainable.

123

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2010 to 2025.

Also referred to as

SMC Share Brokers Ltd. v. DCIT · Section 153C · Section 132 · Section 69 · document seized · third party possession · adverse inference · undated unsigned document · unexplained investment · block assessment · incriminating evidence

Also reported as

102 TTJ 235152 ITD 320

Sections most often in play

Section 153CSection 131Section 132(4)Section 292CSection 132(4A)Section 271AABSection 69Section 132

Issues it is cited on

section 153c(1)section 132(4a)section 292csection 34satisfaction notesection 132(1)loose paperssection 153a(1)documents seizedsection 292section 158bsection 132a

Judgments citing Ltd. v. DCIT

M/S. Lairy Distributors Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals of the assessees stand allowed on legal grounds Nos

ITA 6947/DEL/2014[2006-07]Status: DisposedITAT Delhi27 Jan 2016AY 2006-07

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Shri Ramesh Chandra, CIT-DR
Section 143(3)Section 153C

…of the Hon'ble Jurisdictional High Court at Delhi and co-ordinate Bench of ITAT Delhi and Guwahati which are listed below: (i) CIT Vs. Jasjit Singh ITA No. 337/2015 [Del] (ii) CIT Vs. Jasjit Singh ITA No. 1436/2012 [Del] (iii) DSL Properties P. Ltd Vs. DCIT 60 SOT 88 [URO] (iv) R.L. Allied Inds. Vs. ITO 167 TTJ 20 [ITAT, Delhi] (v) Chain Roop Baid VS. ACIT 154 ITD 257 [Gau] (vi) SSP Aviation Ltd VS. DCIT 346 ITR 17 [Del] 6. The ld. AR further drew our attention toward the judgment of the Hon'ble Jurisdictional High Court of Delhi in the case of CIT Vs. Jasjit Singh [supra] and submitted that referring to its o…

The ADIT (I.T)3(1) vs. M/S. Honkong & Shanghani Banking Corpn. Ltd

In the result, ITA Nos.2519 and 2520/Mum/2004 by revenue stand dismissed, ITA No

ITA 2519/MUM/2004[1999-2000]Status: DisposedITAT Mumbai20 Nov 2015AY 1999-2000

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आयकर अपील सं./I.T.A. No.2519 & 2520/Mum/2004 ("नधा"रण वष" / Assessment Year:1999-2000 & 2000-01) M/S Hongkong & Shanghani Asstt.Direrctor Of Income Tax बनाम/ Banking Corporation Ltd., (International Taxation)-3(1), Vs. 52/60, M G Road, 136, Scindia House, Mumbai-400001 N M Marg, Ballard Estate, Mumbai-400038 .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

Section 143(3)

…services to collect deposits meant for Indian operations and thus there is a business connection and there income is clearly taxable as per the provisions of section 9 of the Act. The AO by placing reliance on the decision in the case of Raymonds Ltd V/s DCIT(80 TTJ 120) and by invoking the provisions of section 195 held that the assessee failed to deduct tax at source and hence he disallowed the expenditure u/s 40(a)(i) of the Act. Aggrieved by this finding of the assessing officer, the assessee filed appeal before the ld. CIT(A). 103. Before the ld.CIT(A), the assessee made detailed submissions and the ld.CIT(A…

Commissioner of Income Tax vs. Honda Siel Power Products Ltd

ITA/1376/2009HC Delhi05 Jul 2010

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE V.K. JAIN

For Appellant: Mr N.P. Sahni and Ms Prem Lata Bansal with Mr P.C. YadavFor Respondent: Mr Ajay Vohra with Ms Kavita Jha and Mr Sriram Krishna
Section 143(3)Section 263Section 80HSection 80I

…4) Decision of the Delhi bench SMC of the Tribunal in the case of ITO v. RV Diamond Jewellers Pvt. Ltd: (ITA 2252/D/05, decided on 30.11.2005); and 5) Decision of the Delhi bench of the Tribunal in the case of Bharat Heavy Electricals Ltd v. DCIT: 98 TTJ 565 (ITA No.6146/Del/1997, decided on 22.07.2005). ITA Nos.1376/09&1382/09 Page No.7 of 20 9. The tribunal also noted the decisions rendered after 17.03.2006, which were all (except one) in favour of the assessee. The decisions referred to by the Tribunal were:- 1) Decision of the Delhi bench of the Tribunal in the case of DCIT v. E…