McDowell & Co. Ltd. v. CTO

Income Tax Officer-2, Raigarh vs. Shri Vinod Kumar Jain, Jashpur

In the result appeal of the revenue is dismissed

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.96/Rpr/2018 ("नधा"रण वष" / Assessment Year :2014-2015) Ito-2, Raigargh Vs Shri Vinod Kumar Jain, College Road, Dist : Jashpur Pan No. : Agepj 9793 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee By : Shri R.B.Doshi, Ca राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 02/08/2022 घोषणा क" तार"ख/Date Of Pronouncement : 31 /10 /2022 आदेश / O R D E R Per Arun Khodpia, Am : This Appeal Is Filed By The Revenue Against The Order Passed By The Cit(A)-1, Bilaspur, Dated 06.03.2018, On The Following Ground :- 1. Whether In The Facts & Circumstance & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao U/S 68 Of The Act? 2. Whether On The Facts & Circumstances Of The Case & On The Points Of The Law Ld. Cit(A) Was Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao By Ignoring The Facts As Brought On Record By The Ao That The Assessee Failed To Prove The Identity Of The Creditor, Genuineness Of The Transaction & Creditworthiness Of The Investor As Per The Parameters Of The Legal Provisions U/S 68 Of The Act? 3. Whether In The Facts & Circumstances & In Law, The Ld. Cit(A) Is Justified In Deleting The Addition Of Rs. 6,43,00,000/- Made By The Ao U/S 68 Of The Act By Ignoring The Decisions In The Following Lead Cases:- (I) Mcdowell & Company Ltd Vs Commercial Tax Officer (1985) 22 Taxman 11 (Sc). (Ii) M/S Raj Mandir Estates Pvt Ltd Vs Pcit-Iii, Kolkata (Slp No. 22566-22567) Dated 09.01.2017. (Iii) Cit Vs Precision Finance Pvt Ltd., 208 Itr 465(Cal).

…आयकर अपील"य अ"धकरण, रायपुर "यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR "ी र"वश सूद, "या"यक सद"य एवं "ी अ"ण खोड़"पया, लेखा सद"य के सम" । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अपील सं./ITA No.96/RPR/2018 ("नधा"रण वष" / Assessment Year :2014-2015) ITO-2, Raigargh Vs Shri Vinod Kumar jain, College Road, Dist : Jashpur PAN No. : AGEPJ 9793 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee by : Shri R.B.Doshi, CA राज"व क" ओर से /Revenue by : Shri Debashish Lahiri, CIT-DR सुनवाई क" तार"ख / Date of Hearing : 02/08/2022 घोषणा क" तार"ख/Date of Pronou…

Deputy Commissioner of Income Tax, Circle- 1(1), Raipur vs. Mesers Bhagwati Industries, Raipur

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.184/Rpr/2019 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Bhagawati Industries Behind Samrat Talkies, Station Road, Raipur-492 001 (C.G.) Pan : Aaifk4253H ……""यथ" / Respondent

…the transaction as genuine? 10. "Whether on points of law and on facts & circumstances of the case, the ld. CIT(A) was justified in ignoring the ratio of the landmark decision of the Supreme Court in the case of McDowell and Co. Ltd. Vs Commercial Tax Officer 154 ITR 148 (SC), as the same ratio of this landmark decision is applicable to the facts and circumstances of the instant case of the assessee?" 11. "Whether on points of law and on facts & circumstances of the case, the ITAT was justified in giving a decision without discussing the issue on merits and without giving any cognizance to the decision of the Hon…

Income Tax Officer, Ward-1(2), Raipur vs. Mesers Balaji Rice Industries, Raipur

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.168/Rpr/2019 "नधा"रण वष" / Assessment Year : 2013-14 M/S. Balaji Rice Industries, Kharora, Tah-Tilda, Raipur (C.G.)-493 225 Pan : Aacfb4543M .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.181/Rpr/2019 "नधा"रण वष" / Assessment Year : 2013-14 The Income Tax Officer-1(2), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Balaji Rice Industries, Kharora, Tah-Tilda, Raipur (C.G.)-493 225 Pan : Aacfb4543M ……""यथ" / Respondent

…he transaction as genuine?" 8. "Whether on points of law and on facts & circumstances of the case, the Id. CIT(A) was justified in ignoring the ratio of the landmark decision of the Supreme Court in the case of Mcdowell and Co. Ltd., vs Commercial Tax Officer 154 ITR 148(SC), as the same ratio of this landmark decision is applicable to the facts and circumstances of the instant case of the assessee?" 9. "Whether on points of law and on facts and circumstances of the case, the ITAT was justified in giving a decision without discussing the issue on merits and without giving any cognizance to the decision of the Hon…

Mesers Balaji Rice Industries, Raipur vs. Income Tax Officer, Ward-1(2), Raipur

In the result, appeal of the revenue is partly allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.168/Rpr/2019 "नधा"रण वष" / Assessment Year : 2013-14 M/S. Balaji Rice Industries, Kharora, Tah-Tilda, Raipur (C.G.)-493 225 Pan : Aacfb4543M .......अपीलाथ" / Appellant बनाम / V/S. The Income Tax Officer-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.181/Rpr/2019 "नधा"रण वष" / Assessment Year : 2013-14 The Income Tax Officer-1(2), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Balaji Rice Industries, Kharora, Tah-Tilda, Raipur (C.G.)-493 225 Pan : Aacfb4543M ……""यथ" / Respondent

…he transaction as genuine?" 8. "Whether on points of law and on facts & circumstances of the case, the Id. CIT(A) was justified in ignoring the ratio of the landmark decision of the Supreme Court in the case of Mcdowell and Co. Ltd., vs Commercial Tax Officer 154 ITR 148(SC), as the same ratio of this landmark decision is applicable to the facts and circumstances of the instant case of the assessee?" 9. "Whether on points of law and on facts and circumstances of the case, the ITAT was justified in giving a decision without discussing the issue on merits and without giving any cognizance to the decision of the Hon…

Joint Commissioner of Income Tax (OSD) Circle-1(1), Bilaspur vs. M/S Omax Minerals Pvt. Ltd. Gadumaria, Raigarh

In the result appeal ITA No

…, creation of shell companies and subscribing for shares at high premium constitutes tax evasion by money laundering. It is a case of clear human ingenuinity with the clear and contumacious intention to defraud the revenue. ii) Mcdowell & Co Ltd Vs CTO (1985) 22 Taxmann 11(SC), wherein the Hon’ble Supreme Court has held that"Colourable devices cannot be part of tax planning and it is wrong to encourage or entertain the belief that it is honourable to avoid the payment of tax by restoring to dubious methods. It is the obligation of every citizen to pay the taxes honestly without resorting to subterfuges. Courts ar…

Principal Commissioner of Income Tax-1, Kolkata vs. Arshia Global Tradecom Private Limited

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

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…The CIT(A) in its order dated 31.01.2019 first took up for consideration as regards the validity of the reopening of the assessment. On perusal of the 1 82 ITR 540 2 (1995) 214 ITR 801 (SC) 3 154 ITR 148 (SC) ITAT 175 OF 2021 Page 5 of 16 cash trail which was discussed by the CIT, he opined that those facts were not before the assessing officer when the scrutiny assessment order was passed on 27.03.2014. Further it was noted that sufficient material evidence has been passed on to the assessing officer by the investigation wing and reas…

Deputy Commissioner of Income Tax - 3(1), Indore vs. Shri Rajeev Ajmera, Indore

In the result, the appeal of Revenue is partly allowed for statistical purposes

Bench: Ms.Suchitra Kamble & Shrib.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2010-11 Dcit-3(1) Shri Rajeev Ajmera, Indore बनाम/ Indore Vs. (Appellant / Assessee) (Respondent / Revenue) Pan: Abgpa4930L Co No.23/Ind/2018 (Arising Out Of Ita No.51/Ind/2018) Assessment Year: 2010-11 Shri Rajeev Ajmera, Dcit-3(1) Indore Indore बनाम/ Vs. (Appellant / Assessee) (Respondent / Revenue) Pan: Abgpa4930L Assessee By Shri Mahendra Mittal, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 31.08.2022 आदेश/ O R D E R

…d advising into the business transactions. The Ld. AO was not satisfied with the genuineness of services rendered by payees and applying the decision of Hon’ble Supreme Court in Lachminarayan Madan Lal Vs. CIT (1972) 86 ITR 439, McDowell and Co. Ltd. Vs. CTO 154 ITR 148 and Sumati Dayal Vs. CIT 214 ITR 801, disallowed the deduction. 8. During first-appellate proceeding, the assessee made a detailed submission to Ld. CIT(A). The assessee also invoked Rule 46A and submitted several additional-evidences, the details of which are mentioned by Ld. CIT(A) in the form of a long-list on Page No. 32 to 34 of his order.…