Monarch Foods Products (P) ltd. v. ACIT

54 TTJ 405Income Tax Appellate Tribunal1996#7969 most cited
14

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 142(1)Section 143(2)Section 143(3)Section 37(1)Section 40A(2)(b)

Issues it is cited on

section 40a(2)(b)block of assetssection 44absection 37(1)section 37scrutiny assessmentassistant commissionerprevious yeartransfersection 143(2)section 143person

Judgments citing Monarch Foods Products (P) ltd. v. ACIT

RAJNANDGAON PETROL SERVICE, RAJNANDGAON,RAJNANDGAON vs. ACIT, CIRCLE-2(1), BHILAI, DURG

In the result, appeal of the assessee is allowed in terms of the aforesaid observations

ITA 553/RPR/2024[2017-18]Status: DisposedITAT Raipur20 Jan 2025AY 2017-18

Bench: Shri Ravish Soodआयकर अपील सं. / Ita No.553/Rpr/2024 "नधा"रण वष" / Assessment Year : 2017-18 Rajnandgaon Petrol Service Partner : Kulwant Singh Bhatia, Pendri, G.E. Road, Rajnandgaon (C.G.)-491 441 Pan: Aagfr7601E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-2(1), Bhilai (C.G.) ……""यथ" / Respondent

For Appellant: None (written submission)For Respondent: Smt. Anubhaa Tah Goel, Sr. DR
Section 143(2)Section 143(3)Section 37(1)

…e can be made on presumptive or a estimation basis, had relied upon the following judicial pronouncements: (i) Commissioner of Income Tax Vs. Dhakeswari Cotton Mills Limited 26 ITR 775 (SC) (ii)Monarch Foods Pvt. Ltd. Vs. Assistant Commissioner of Income Tax 54 TTJ 405; (iii) Assistant Commissioner of Income Tax Vs. Arthur Anderson & Co. 94 TTJ 736 (iv) Dwarka Prasad Agrawal Vs. ITO, 52 ITD 239 (v) CIT Vs. SSP (P) Ltd. 202 Taxman 386 (vi) Cardiac Care & Allied Health Pvt. Ltd. Vs. DCIT, ITA No.247/JP/2019 (vii) M/s. Sunia Finlease Ltd. Vs. ITO, ITA No.07/RPR/2017 8. As the assessee firm had failed to substantia…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), BHILAI vs. MESERS ABIS POULTRY PRIVATE LIMITED, RAJNANDGAON

In the result, both appeals of the revenue are dismissed

ITA 234/RPR/2019[2011-12]Status: DisposedITAT Raipur30 Mar 2023AY 2011-12

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.233 & 234/Rpr/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) Acit-2(1), Bhilai Vs M/S Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon Pan No. :Aaeca 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Amit M. Jain & Gagan Tiwari, Advs. &For Respondent: Shri Debashish Lahiri, CIT-DR
Section 132Section 153CSection 68

…आयकर अऩीऱीय अधधकरण, रायऩुर न्यायऩीठ, रायऩुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR श्री रविश सूद, न्याययक सदस्य एवं श्री अरुण खोड़वऩया, ऱेखा सदस्य के समक्ष । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अऩीऱ सं./ITA No.233 & 234/RPR/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) ACIT-2(1), Bhilai Vs M/s Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon PAN No. :AAECA 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri Amit M. Jain & Gagan Tiwari, Advs. & Shri Bikram Jain, CA राजस्व की ओर से /Revenue by : Shri Debashish La…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), BHILAI vs. MESERS ABIS POULTRY PRIVATE LIMITED, RAJNANDGAON

In the result, both appeals of the revenue are dismissed

ITA 233/RPR/2019[2009-10]Status: DisposedITAT Raipur30 Mar 2023AY 2009-10

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.233 & 234/Rpr/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) Acit-2(1), Bhilai Vs M/S Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon Pan No. :Aaeca 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Amit M. Jain & Gagan Tiwari, Advs. &For Respondent: Shri Debashish Lahiri, CIT-DR
Section 132Section 153CSection 68

…आयकर अऩीऱीय अधधकरण, रायऩुर न्यायऩीठ, रायऩुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR श्री रविश सूद, न्याययक सदस्य एवं श्री अरुण खोड़वऩया, ऱेखा सदस्य के समक्ष । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अऩीऱ सं./ITA No.233 & 234/RPR/2019 (ननधाारण वषा / Assessment Year :2009-2010 & 2011-2012) ACIT-2(1), Bhilai Vs M/s Abis Poultry Private Limited, Baldeo Bag, Rajnandgaon PAN No. :AAECA 87411 E (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri Amit M. Jain & Gagan Tiwari, Advs. & Shri Bikram Jain, CA राजस्व की ओर से /Revenue by : Shri Debashish La…

SHIRISH M DALVI,KALYAN vs. DCIT CIR 29(3), MUMBAI

Accordingly, we uphold the finding of Ld CIT(A). The ground No. four of the appeal of the assessee is accordingly dismissed

ITA 4640/MUM/2016[2012-13]Status: DisposedITAT Mumbai31 Oct 2022AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shirish M. Dalvi, Dcit Circle-23(3), D’ Block, 1St Floor, Zojwala 3Rd Floor, C-10, Pratyaksha Vs. Complex, Sahajanand Kar Bhavan, Bandra East, Chowk, Kalyan-421 301. Mumbai-400051. Pan No. Aadpd 0358 H Appellant Respondent Assessment Year: 2010-11 Dcit Circle-23(3), Shirish M. Dalvi, Room No. 402, 4Th Floor, C-10 D’ Block, 1St Floor, Zojwala Vs. Bldg., Pratyakshakar Complex, Sahajanand Bhavan, Bandra Kurla Chowk, Kalyan-421 301. Complex, Bandra (E), Mumbai-400051. Pan No. Aadpd 0358 H Appellant Respondent Assessment Year: 2012-13 Shirish M. Dalvi, Dcit-29(3), D’ Block, 1St Floor, Zojwala Room No. 402, 4Th Floor, C- Vs. Complex, Sahajanand 10, Pratyaksha Kar Chowk, Kalyan-421 301. Bhavan, Bandra Kurla Complex, Bandra, Mumbai-400051. Pan No. Aadpd 0358 H

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) Assessment Year: 2010-11 Shirish M. Dalvi, DCIT Circle-23(3), D’ Block, 1st floor, Zojwala 3rd floor, C-10, Pratyaksha Vs. Complex, Sahajanand Kar Bhavan, Bandra East, Chowk, Kalyan-421 301. Mumbai-400051. PAN No. AADPD 0358 H Appellant Respondent Assessment Year: 2010-11 DCIT Circle-23(3), Shirish M. Dalvi, Room No. 402, 4th floor, C-10 D’ Block, 1st floor, Zojwala Vs. Bldg., Pratyakshakar Complex, Sahajanand Bhavan, Bandra Kurla Chowk, Kalyan-421 301. Comp…

DCIT CIR 23(3), MUMBAI vs. SHIRISH M DALVI, MUMBAI

Accordingly, we uphold the finding of Ld CIT(A). The ground No. four of the appeal of the assessee is accordingly dismissed

ITA 4317/MUM/2014[2010-11]Status: DisposedITAT Mumbai31 Oct 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2010-11 Shirish M. Dalvi, Dcit Circle-23(3), D’ Block, 1St Floor, Zojwala 3Rd Floor, C-10, Pratyaksha Vs. Complex, Sahajanand Kar Bhavan, Bandra East, Chowk, Kalyan-421 301. Mumbai-400051. Pan No. Aadpd 0358 H Appellant Respondent Assessment Year: 2010-11 Dcit Circle-23(3), Shirish M. Dalvi, Room No. 402, 4Th Floor, C-10 D’ Block, 1St Floor, Zojwala Vs. Bldg., Pratyakshakar Complex, Sahajanand Bhavan, Bandra Kurla Chowk, Kalyan-421 301. Complex, Bandra (E), Mumbai-400051. Pan No. Aadpd 0358 H Appellant Respondent Assessment Year: 2012-13 Shirish M. Dalvi, Dcit-29(3), D’ Block, 1St Floor, Zojwala Room No. 402, 4Th Floor, C- Vs. Complex, Sahajanand 10, Pratyaksha Kar Chowk, Kalyan-421 301. Bhavan, Bandra Kurla Complex, Bandra, Mumbai-400051. Pan No. Aadpd 0358 H

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) Assessment Year: 2010-11 Shirish M. Dalvi, DCIT Circle-23(3), D’ Block, 1st floor, Zojwala 3rd floor, C-10, Pratyaksha Vs. Complex, Sahajanand Kar Bhavan, Bandra East, Chowk, Kalyan-421 301. Mumbai-400051. PAN No. AADPD 0358 H Appellant Respondent Assessment Year: 2010-11 DCIT Circle-23(3), Shirish M. Dalvi, Room No. 402, 4th floor, C-10 D’ Block, 1st floor, Zojwala Vs. Bldg., Pratyakshakar Complex, Sahajanand Bhavan, Bandra Kurla Chowk, Kalyan-421 301. Comp…

DCIT, CIRCLE - 3(1), KOLKATA, KOLKATA vs. M/S. THE TINPLATE COMPANY OF INDIA LIMITED , KOLKATA

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

ITA 1595/KOL/2018[2010-11]Status: DisposedITAT Kolkata29 Sept 2022AY 2010-11

Bench: Shri Rajpal Yadav, Vice-(Kz)& Shri Rajesh Kumar]

Section 139(1)Section 43B

…and on estimated basis which is not sustainable in the law as has been held by the following decisions: i) Dhakeshwari Cotton Mills Ltd. vs. CIT [26 ITR 775 (SC)] ii) JCIT vs. ITC Ltd., [2008] 112 ITD 57 (Kolkata) iii) Monarch Foods Pvt. Ltd. vs. CIT (Ahd) [54 TTJ 405] iv) Chaudhary Hammer Works Ltd. vs. DIT [ITA No. 5333/Del/2011] AY: 2010-11 The Tinplate Company of India Ltd. v) Universal Construction Machinery and Equipments Ltd. vs. ACIT (Pun) [ITA No. 975/PN/2013 and ITA Nos. 1465 & 1466/PN/2013] Accordingly we uphold the order of Ld. CIT(A) by dismissing the ground raised by the revenue. 17. Issue raised…

THE TINPLATE COMPANY OF INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 3, KOLKATA, KOLKATA

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is dismissed

ITA 1070/KOL/2018[2010-11]Status: DisposedITAT Kolkata29 Sept 2022AY 2010-11

Bench: Shri Rajpal Yadav, Vice-(Kz)& Shri Rajesh Kumar]

Section 139(1)Section 43B

…and on estimated basis which is not sustainable in the law as has been held by the following decisions: i) Dhakeshwari Cotton Mills Ltd. vs. CIT [26 ITR 775 (SC)] ii) JCIT vs. ITC Ltd., [2008] 112 ITD 57 (Kolkata) iii) Monarch Foods Pvt. Ltd. vs. CIT (Ahd) [54 TTJ 405] iv) Chaudhary Hammer Works Ltd. vs. DIT [ITA No. 5333/Del/2011] AY: 2010-11 The Tinplate Company of India Ltd. v) Universal Construction Machinery and Equipments Ltd. vs. ACIT (Pun) [ITA No. 975/PN/2013 and ITA Nos. 1465 & 1466/PN/2013] Accordingly we uphold the order of Ld. CIT(A) by dismissing the ground raised by the revenue. 17. Issue raised…

M/S. AJAY CONSTRUCTION,KORBA vs. THE DY. COMMISSIONER OF INCOME TAX,, KORBA(CG)

In the result, the appeal of the assessee is allowed

ITA 259/BIL/2016[2010-11]Status: DisposedITAT Raipur08 Jun 2022AY 2010-11

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 259/Bil/2016 "नधा"रण वष" / Assessment Year : 2010-11 M/S Ajay Construction, Plot No. 155, T.P. Nagar, Korba, Distt. Korba (C.G) Pan : Aanfa0129P .......अपीलाथ" / Appellant बनाम / V/S. Deputy Commissioner Of Income Tax, Korba (Cg) ……""यथ" / Respondent Assessee By : Shri Y. K. Mishra Revenue By : Shri G. N. Singh सुनवाई क" तार"ख / Date Of Hearing : 06.06.2022 घोषणा क" तार"ख / Date Of Pronouncement : 08.06.2022

For Appellant: Shri Y. K. MishraFor Respondent: Shri G. N. Singh
Section 143(1)Section 143(3)Section 201(1)Section 40

…d. CIT(A)’s finding is as under : 4.2 Decision – I have considered the rival submission. There is no doubt that AO has resorted for adhoc disallowances and I had also gone through the case laws cited by the Ld. AR in case of Monark Foods Pvt. Limited Vs. ACIT 54 TTJ 405; Raj Enterprises Vs. ITO 51 TTJ 408 and Shashi Singhania, Raipur Vs. ITO-1(1), Raipur by Hon’ble Nagpur Bench of ITAT dated 19/01/2006. So far as Rs. 25,000/- is concerned. AO appears to be reasonable, hence Rs. 25,000/- is confirmed. The assessee has debited labour payment to the extent of Rs. 42,83,160/- and he had found that these are supported…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6403/DEL/2013[2008-09]Status: DisposedITAT Delhi29 Oct 2015AY 2008-09

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6402/DEL/2013[2007-08]Status: DisposedITAT Delhi29 Oct 2015AY 2007-08

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6401/DEL/2013[2006-07]Status: DisposedITAT Delhi29 Oct 2015AY 2006-07

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6400/DEL/2013[2005-06]Status: DisposedITAT Delhi29 Oct 2015AY 2005-06

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6399/DEL/2013[2004-05]Status: DisposedITAT Delhi29 Oct 2015AY 2004-05

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

DCIT, NEW DELHI vs. M/S. SATKAR MOTORS PVT. LTD., NEW DELHI

In the result the Cross Objections are allowed and all the Revenue appeals are dismissed

ITA 6398/DEL/2013[2003-04]Status: DisposedITAT Delhi29 Oct 2015AY 2003-04

Bench: Shri J. Sudhakar Reddy & Shri Sudhanshu Srivastavaay : 2003-04 Ays : 2004-05 Ays : 2005-06 Ays : 2006-07 Ays : 2007-08 Ays : 2008-09

For Appellant: Sh, Kartar Singh, CIT, D.RFor Respondent: Sh. Kapil Goyal, Adv
Section 132Section 153C

…tion not being recorded by the Assessing Officer of the searched party. He relied on the following judgements. (i) Friends Clearing Agency P.Ltd. dt. 4.1.2011 (Del) (ii) Raj Enterprises vs. ITO (1995) 51 TTJ 408 (UP) (iii) Monarch Foods P.Ltd. vs. ACIT (1996) 54 TTJ 405 (Ahmd.) (iv) Seasons Catering Services P.Ltd. vs. DCIT (Del) (v) Rajat Telecom 120 ITD 48 (Indore Bnch of ITAT) (vi) M/s Epcot Securities P.Ltd. ITA no.395/M/2009 dt. 18.3.2011 (Mumbai Bench of ITAT) (vii) Menu Chauhan ITA/Del/1886/2010 dt. 29.10.2010 (Delhi Bench of ITAT) (viii) Pearl Farben Chem P.Ltd. ITA no.1122/Mum/2010 dt. 12th Nov.2010 (Mum…

Monarch Foods Products (P) ltd. v. ACIT (54 TTJ 405) — Cited in 14 Judgments | BharatTax