Mantri Share Brokers v. CIT

96 Taxmann.com 279High Court2018#2222 most cited

What is Mantri Share Brokers v. CIT authority for?

An assessee's statement offering additional income during a survey cannot be the sole basis for an addition as undisclosed investments unless supported by other documentary evidence.

52

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2026.

Also referred to as

Mantri Share Brokers · Section 69B · undisclosed investments · burden of proof · retracted statement · survey income · documentary evidence · CIT v. Mantri Share Brokers · Rajasthan High Court

Sections most often in play

Section 132(4)Section 143(3)Section 153ASection 69ASection 147Section 132Section 143(2)Section 142(1)

Issues it is cited on

section 135asection 6(1)section 148bsection 158bbretracted statementsection 142asection 69bsurrender of incomesection 40a(ia)section 269tsection 144asection 253(3)

Judgments citing Mantri Share Brokers v. CIT

Kohinoor Crafts, Moradabad vs. ACIT Central Circle, Moradabad

In the result, the appeal filed by the assessee is allowed

ITA 9556/DEL/2019[2017-18]Status: DisposedITAT Delhi22 Sept 2021AY 2017-18

Bench: Shri R.K. Pandaassessment Year: 2017-18 Kohinoor Crafts, Vs. Acit, Turki Estate, Kohinoor Tiraha, Central Circle, Sambhal Road, Moradabad. Moradabad. Pan: Aadfk7275N (Appellant) (Respondent) Assessee By : Shri Mayank Patawari, Ca Revenue By : Shri R.K. Gupta, Sr. Dr Date Of Hearing : 01.09.2021 Date Of Pronouncement : 22.09.2021 Order

For Appellant: Shri Mayank Patawari, CAFor Respondent: Shri R.K. Gupta, Sr. DR
Section 131Section 132Section 132(4)Section 139(1)Section 142(1)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : SMC : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Kohinoor Crafts, Vs. ACIT, Turki Estate, Kohinoor Tiraha, Central Circle, Sambhal Road, Moradabad. Moradabad. PAN: AADFK7275N (Appellant) (Respondent) Assessee by : Shri Mayank Patawari, CA Revenue by : Shri R.K. Gupta, Sr. DR Date of Hearing : 01.09.2021 Date of Pronouncement : 22.09.2021 ORDER This appeal filed by the assessee is directed against the order dated 21st August, 2019 of the CIT(A)-3, Lucknow, relating to Assessment Year 2017-18. 2. Facts of the case, in brief, are…

Deputy Commissioner of Income Tax 1(1)(1), Mumbai vs. M/S.Adventure Marketing Private Limited, Mumbai

Appeal stands allowed

ITA 6091/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 Jul 2019AY 2013-14

Bench: Hon’Ble Shri C.N. Prasad, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Vijay Mehta & Shri Mahesh Rajora-For Respondent: Shri Anadi Varma - Ld. CIT-DR
Section 143(3)Section 14ASection 28Section 57Section 69B

…is squarely covered by the decision of Hon’ble Bombay High Court rendered in CIT V/s Devesh Agarwal [81 Taxmann.com 257], which Ld. CIT(A) has already considered. The case law of Hon’ble Rajasthan High Court rendered in CIT V/s Mantri Share Brokers Pvt. Ltd. [96 Taxmann.com 279] as confirmed by 8 Hon’ble Apex Court by way of dismissal of revenue’s SLP [96 Taxmann.com 280], the decision of Hon’ble Delhi High Court rendered in CIT V/s Puneet Sabharwal [338 ITR 485] also supports the same view. 5.4 So far as the submissions made by Ld. CIT-DR is concerned, we find that, firstly the aforesaid provisions of Section 56…

DCIT 4(1)(2), Mumbai vs. Ahinsa Infrastucture & Developers Ltd, Mumbai

ITA 3735/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 Jun 2019AY 2011-12

Bench: Sandeep Gosain, Jm & Shri G. Manjunatha Dy. Cit, Circle – 4(1) Vs. M/S. Ahinsa Infrastructure & Aayakar Bhavan Developers Ltd., M.K.Road, 60, Muljijetha Building 3Rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400 001 Pan/Gir No. Aadca3891R (Appellant) .. (Respondent) & Co No.282/Mum/2018 (Arising Out Of Ita No.3735/Mum/2017 (Assessment Year: 2011-12) M/S. Ahinsa Infrastructure & Vs. Dy. Cit, Circle – 4(1) Developers Ltd., Aayakar Bhavan 60, Muljijetha Building M.K.Road, 3Rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400 001 Pan/Gir No. Aadca3891R (Appellant) .. (Respondent)

Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH MUMBAI BEFORE SANDEEP GOSAIN, JM & SHRI G. MANJUNATHA Dy. CIT, Circle – 4(1) Vs. M/s. Ahinsa Infrastructure & Aayakar Bhavan Developers Ltd., M.K.Road, 60, Muljijetha Building 3rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400 001 PAN/GIR No. AADCA3891R (Appellant) .. (Respondent) & CO No.282/Mum/2018 (Arising out of ITA No.3735/Mum/2017 (Assessment Year: 2011-12) M/s. Ahinsa Infrastructure & Vs. Dy. CIT, Circle – 4(1) Developers Ltd., Aayakar Bhavan 60, Muljijetha Building M.K.Road, 3rd Floor, 185/187, Princess Mumbai – 400 020 Street, Mumbai – 400…

Assistant Commissioner of Income Tax, Central Circle-3, Jaipur vs. M/S. Kedia Real Estate LLP, Jaipur

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

ITA 289/JPR/2019[2017-18]Status: DisposedITAT Jaipur03 Jun 2019AY 2017-18
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132(1)Section 143(3)Section 153A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 128/JP/2019 fu/kZkj.k o"kZ@Assessment Year :2015-16 Nitin Kedia, cuke The Deputy Commissioner of Vs. Shop No. 10-11, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AMGPK 4040 A vihykFkhZ@Appella…

Deputy Commissioner of Income Tax, Central Circle-3, Jaipur vs. Shri Nirmak Kumar Kedia, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 288/JPR/2019[2017-18]Status: DisposedITAT Jaipur03 Jun 2019AY 2017-18
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…

Assistant Commissioner of Income Tax, Central Circle-3, Jaipur vs. Shri Nirmal Kumar Kedia, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 287/JPR/2019[2016-17]Status: DisposedITAT Jaipur03 Jun 2019AY 2016-17
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…

Assistant Commissioner of Income Tax, Central Circle-3, Jaipur vs. Shri Nitin Kedia, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 286/JPR/2019[2015-16]Status: DisposedITAT Jaipur03 Jun 2019AY 2015-16
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…

Nitin Kedia, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

ITA 128/JPR/2019[2015-16]Status: DisposedITAT Jaipur03 Jun 2019AY 2015-16
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132(1)Section 143(3)Section 153A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 128/JP/2019 fu/kZkj.k o"kZ@Assessment Year :2015-16 Nitin Kedia, cuke The Deputy Commissioner of Vs. Shop No. 10-11, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AMGPK 4040 A vihykFkhZ@Appella…

M/S. Kedia Real Estate LLP, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

ITA 127/JPR/2019[2017-18]Status: DisposedITAT Jaipur03 Jun 2019AY 2017-18
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132(1)Section 143(3)Section 153A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 128/JP/2019 fu/kZkj.k o"kZ@Assessment Year :2015-16 Nitin Kedia, cuke The Deputy Commissioner of Vs. Shop No. 10-11, Ganesh Income Tax, Nagar-VIA, Near Nadi Ka Central Circle-3, Room No. Phatak, Benad Road, NA-102, New Central Jhotwara, Jaipur. Revenue Building, Statute Circle, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AMGPK 4040 A vihykFkhZ@Appella…

Shri Nirmak Kumar Kedia, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 126/JPR/2019[2017-18]Status: DisposedITAT Jaipur03 Jun 2019AY 2017-18
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…

Shri Nirmal Kumar Kedia, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 125/JPR/2019[2016-17]Status: DisposedITAT Jaipur03 Jun 2019AY 2016-17
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…

Shri Nirmal Kumar Kedia, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-3, Jaipur

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

ITA 124/JPR/2019[2015-16]Status: DisposedITAT Jaipur03 Jun 2019AY 2015-16
For Appellant: Shri Vijay Goyal (FCA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 131Section 132Section 132(1)Section 133ASection 143(3)Section 153ASection 19

…elatable to incriminating material found during the course of search or statement must be made relatable to the seized material or evidences found subsequent to inquiry/investigation. Hon'ble Rajasthan High Court in the case of Mantri Share Brokers Vs. CIT ( 96 Taxmann.com 279) have held as under: Section 69B of the Income-tax Act, 1961 - Undisclosed investments (Burden of proof) - Whether where except statement of director of assessee- company offering additional income during survey in his premises, there was no other material either in form of cash, bullion, jewellery or document or in any other form to conc…