National Textiles v. CIT

249 ITR 125High Court2001#763 most cited

What is National Textiles v. CIT authority for?

The levy of penalty under Section 271(1)(c) requires material evidence that the assessed amount does not represent the assessee's income and proof of conscious concealment or furnishing inaccurate particulars. A penalty cannot be sustained merely because income is assessed on an estimation basis without positive evidence of concealment.

134

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

National Textiles v. CIT · penalty under section 271(1)(c) · concealment of income · furnishing inaccurate particulars · income assessed on estimation · levy of penalty · animus · 249 ITR 125 · Gujarat High Court

Also reported as

164 CTR 2009

Sections most often in play

Section 271(1)(c)Section 143(3)Section 250Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 145(3)

Issues it is cited on

penalty under section 271(1)(c)furnishing inaccurate particulars of incomefurnishing inaccurate particularsconcealment of incomepenalty u/s 271(1)(c)section 274levy of penaltysection 271(1)commissioner (appeals)section 44section 271section 271(1)(c)

Judgments citing National Textiles v. CIT

Reliable Metal Industries, Mumbai vs. DCIT -25(3), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

ITA 5351/MUM/2018[2011-12]Status: DisposedITAT Mumbai19 Mar 2020AY 2011-12

Bench: Shri Amarjit Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं/ I.T.A. No.5351/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) Reliable Metal Industries बिधम/ Dcit-25(3) 21, Chandra Milan, M. G. C-10, Pratyaskha Kar Vs. Road, Vile Parle (E), Bhavan, Bandra Kurla Mumbai-400057. Complex, Mumbai. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacfr6082K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mehul Shah Revenue By: Ms. Jothilakshmi Nayak (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 10/02/2020 घोषणा की तारीख /Date Of Pronouncement: 19/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 18.06.2018 Passed By The Commissioner Of Income Tax (Appeals)-37, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2011-12 Wherein The Penalty Levied By The Ao Has Been Ordered To Be Confirmed.

For Appellant: Shri Mehul ShahFor Respondent: Ms. Jothilakshmi Nayak (SR. AR)
Section 143(2)Section 271Section 271(1)Section 274

…2009-10 & 2010-11(supra). Moreover, the facts are quite similar in which the addition has been sustained @ 12.5% of the bogus purchase. On the basis of similar facts and circumstances Hon’ble High Court of Gujarat in the case of National Textiles Vs. CIT 2001 164 CTR 2009 (Guj) has held that the no penalty is liable to be sustainable in the such types of cases. Taking into account all the facts and circumstances mentioned above and by honoring the decision of the co-ordinate benches above, we nowhere found justifiable to sustain the order of the CIT(A) in question, therefore, we set aside the finding of the CIT(A…

Shri Atulbhai Babulal Shah, Ahmedabad vs. The ACIT, Circle-11, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 966/AHD/2014[2007-08]Status: DisposedITAT Ahmedabad27 Feb 2020AY 2007-08

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

For Appellant: Shri S.N. Divatia, ARFor Respondent: Shri L.P.Jain, Sr.DR
Section 143(3)Section 250Section 271(1)(c)

…edings. As such the penalty proceedings being distinct and separate from the assessment proceedings, the AO is under the obligation to carry out the fresh verification as held by the Hon’ble Gujarat High Court in the case of National Textiles Vs. CIT reported 249 ITR 125. The relevant extract of the judgment is extracted below: ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years– 2007-08 & 2009-10 “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither d…

Shri Atulbhai Babubhai Shah, Ahmedabad vs. The ACIT., Range-10, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 2493/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad27 Feb 2020AY 2009-10

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

For Appellant: Shri S.N. Divatia, ARFor Respondent: Shri L.P.Jain, Sr.DR
Section 143(3)Section 250Section 271(1)(c)

…edings. As such the penalty proceedings being distinct and separate from the assessment proceedings, the AO is under the obligation to carry out the fresh verification as held by the Hon’ble Gujarat High Court in the case of National Textiles Vs. CIT reported 249 ITR 125. The relevant extract of the judgment is extracted below: ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years– 2007-08 & 2009-10 “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither d…

Shri Atul Babubhai Shah, Ahmedabad vs. The Jt.CIT., Range-10, Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 76/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad27 Feb 2020AY 2007-08

Bench: Shri Waseem Ahmed, Accountantmember & Ms. Madhumita Roy

For Appellant: Shri S.N. Divatia, ARFor Respondent: Shri L.P.Jain, Sr.DR
Section 143(3)Section 250Section 271(1)(c)

…edings. As such the penalty proceedings being distinct and separate from the assessment proceedings, the AO is under the obligation to carry out the fresh verification as held by the Hon’ble Gujarat High Court in the case of National Textiles Vs. CIT reported 249 ITR 125. The relevant extract of the judgment is extracted below: ITA Nos.76/Ahd/2011, 966/Ahd/2014 & 2493/Ahd/2012 Shri AtulBabubhaiShah vs.Jt.CIT/ACIT Asst.Years– 2007-08 & 2009-10 “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither d…

M/S. Chhatrapati Shivaji Shikshan Sansthan, Jaipur vs. DCIT, Circle-7, Jaipur

In the result, the levy of penalty on such addition is hereby deleted

ITA 1387/JPR/2019[2011-12]Status: DisposedITAT Jaipur20 Feb 2020AY 2011-12
For Appellant: Shri C.L. Yadav (Adv.)For Respondent: Miss Chanchal Meena (JCIT)
Section 10Section 271Section 271(1)(c)Section 4Section 68

…, the ld. CIT(A) is not correct in upholding the penalty order passed by the Assessing Officer without considering the explanation given by the assessee. In support, reliance was placed on the Hon'ble Gujarat High Court in the case of National Textiles v. CIT 249 ITR 125. 10. The ld DR is heard who has relied on the orders of the lower authorities. 11. Heard both the parties and pursued the material available on record. In support of the unsecured loan of Rs. 13,000/-, the assessee has submitted the necessary confirmation from the lender, therefore, non-acceptance of the confirmation so filed of the assessee may…

Shri Jerambhai Parsottambhai Thesia, Surat vs. The Dy. CIT, Circle-2(3), Surat

In the result, appeal of the assessee is allowed

ITA 1574/AHD/2017[2008-09]Status: DisposedITAT Surat12 Feb 2020AY 2008-09

Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.1574/Ahd/2017 "नधा"रण वष"/Assessment Year: 2008-09 Shri Jerambhai Parsottambhai V The Deputy Commissioner Thesia, A-17, Vithal Nagar, S Of Income Tax, Circle-2(3), Surat. Hirabaug, Varchha Road, Surat. . [Pan: Aampt 5791 K] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Sapnesh R.Sheth – Ca राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr

Section 271Section 271(1)(c)Section 68

…donors which is material only for quantum proceedings, same cannot be made applicable in penalty proceedings & the penalty imposed u/s 271(l)(c) was deleted. Reliance is placed on the decision of Gujarat High Court in the case of National Textiles Vs C.I J. (249 ITR 125) wherein it was held that the provisions of section 68 permitting the Assessing Officer to treat unexplained cash credit as income are enabling provisions for making certain additions, where there is failure by the assessee to give an explanation or where the explanation is not to the satisfaction of the Assessing Officer However, the addition ma…

DCIT Cirlce-2, Thane vs. Shir Pahadsingh L Rajput, Thane

In the result, appeal filed by the Revenue stands dismissed and cross-objections filed by the assessee stands dismissed as withdrawn

ITA 368/MUM/2019[2010-11]Status: DisposedITAT Mumbai05 Feb 2020AY 2010-11

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm

Section 133(6)Section 143(1)Section 147

…is leviable in view of the decision of the Hon’ble ITAT in the case of Ajay Loknath Lohia Vs. ITO dated 05.10.2018 and we further fortify our view in accordance of the decision of Hon’ble Gujarat High Court in the case titled as National Textiles Vs. CIT 2001 164 CTR 2009 (Guj) in which it was specifically held that the no penalty is leviable on account of addition raised on bogus purchase. Taking into account all the facts and circumstances of the case, we are of the view that the CIT(A) has decided the matter of controversy judiciously and correctly which is not liable to be interfere with at this appellate sta…

Meenakshi Ammal Trust, Chennai vs. ACIT Central Circle 2(1), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 837/CHNY/2019[2015-16]Status: DisposedITAT Chennai21 Jan 2020AY 2015-16

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./I.T.A.Nos.834 To 837/Chny/2019 ("नधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 &2014-15) Vs The Acit, M/S. Meenakshi Ammal Trust, No.61, Ramasamy Salai, Central Circle 2(1), K.K. Nagar, Chennai-34. Chennai – 600 078. Pan: Aaatm4676Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri A. Sundararajan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 24.10.2019 घोषणा क" तार"ख /Date Of Pronouncement : 21.01.2020

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri A. Sundararajan, Addl.CIT
Section 12ASection 153A

…Court in the case of M/s.MAK Data (P) Ltd., Vs. CIT, found that the explanation given by the assessee was neither false nor bonafide. Accordingly after referring to the judgment of the Hon’ble Gujarat High Court in the case of M/s. National Textiles Vs. CIT, 249 ITR 125, found that the assessee has neither concealed any part of the income nor filed any inaccurate particulars. 10.2 In this case also, the assessee has disclosed the entire receipt of donations. However the Assessing Officer found that it is not a voluntary donation but anonymous donation. The fact that the assessee has disclosed the entire donatio…

Meenakshi Ammal Trust, Chennai vs. ACIT Central Circle 2(1), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 836/CHNY/2019[2013-14]Status: DisposedITAT Chennai21 Jan 2020AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./I.T.A.Nos.834 To 837/Chny/2019 ("नधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 &2014-15) Vs The Acit, M/S. Meenakshi Ammal Trust, No.61, Ramasamy Salai, Central Circle 2(1), K.K. Nagar, Chennai-34. Chennai – 600 078. Pan: Aaatm4676Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri A. Sundararajan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 24.10.2019 घोषणा क" तार"ख /Date Of Pronouncement : 21.01.2020

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri A. Sundararajan, Addl.CIT
Section 12ASection 153A

…Court in the case of M/s.MAK Data (P) Ltd., Vs. CIT, found that the explanation given by the assessee was neither false nor bonafide. Accordingly after referring to the judgment of the Hon’ble Gujarat High Court in the case of M/s. National Textiles Vs. CIT, 249 ITR 125, found that the assessee has neither concealed any part of the income nor filed any inaccurate particulars. 10.2 In this case also, the assessee has disclosed the entire receipt of donations. However the Assessing Officer found that it is not a voluntary donation but anonymous donation. The fact that the assessee has disclosed the entire donatio…

Meenakshi Ammal Trust, Chennai vs. ACIT Central Circle 2(1), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 835/CHNY/2019[2012-13]Status: DisposedITAT Chennai21 Jan 2020AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./I.T.A.Nos.834 To 837/Chny/2019 ("नधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 &2014-15) Vs The Acit, M/S. Meenakshi Ammal Trust, No.61, Ramasamy Salai, Central Circle 2(1), K.K. Nagar, Chennai-34. Chennai – 600 078. Pan: Aaatm4676Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri A. Sundararajan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 24.10.2019 घोषणा क" तार"ख /Date Of Pronouncement : 21.01.2020

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri A. Sundararajan, Addl.CIT
Section 12ASection 153A

…Court in the case of M/s.MAK Data (P) Ltd., Vs. CIT, found that the explanation given by the assessee was neither false nor bonafide. Accordingly after referring to the judgment of the Hon’ble Gujarat High Court in the case of M/s. National Textiles Vs. CIT, 249 ITR 125, found that the assessee has neither concealed any part of the income nor filed any inaccurate particulars. 10.2 In this case also, the assessee has disclosed the entire receipt of donations. However the Assessing Officer found that it is not a voluntary donation but anonymous donation. The fact that the assessee has disclosed the entire donatio…

Meenakshi Ammal Trust, Chennai vs. ACIT Central Circle 2(1), Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 834/CHNY/2019[2011-12]Status: DisposedITAT Chennai21 Jan 2020AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./I.T.A.Nos.834 To 837/Chny/2019 ("नधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 &2014-15) Vs The Acit, M/S. Meenakshi Ammal Trust, No.61, Ramasamy Salai, Central Circle 2(1), K.K. Nagar, Chennai-34. Chennai – 600 078. Pan: Aaatm4676Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri A. Sundararajan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 24.10.2019 घोषणा क" तार"ख /Date Of Pronouncement : 21.01.2020

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri A. Sundararajan, Addl.CIT
Section 12ASection 153A

…Court in the case of M/s.MAK Data (P) Ltd., Vs. CIT, found that the explanation given by the assessee was neither false nor bonafide. Accordingly after referring to the judgment of the Hon’ble Gujarat High Court in the case of M/s. National Textiles Vs. CIT, 249 ITR 125, found that the assessee has neither concealed any part of the income nor filed any inaccurate particulars. 10.2 In this case also, the assessee has disclosed the entire receipt of donations. However the Assessing Officer found that it is not a voluntary donation but anonymous donation. The fact that the assessee has disclosed the entire donatio…

Sri Muthukumaran Educational Trust, Chennai vs. ACIT Central Circle 2(1), Chennai

In the result, the appeal filed by the stands allowed

ITA 1501/CHNY/2019[2010-11]Status: DisposedITAT Chennai02 Jan 2020AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Raoआयकर अपील सं./I.T.A.No.1501/Chny/2019 ("नधा"रण वष" / Assessment Year: 2010-11) Vs The Acit, M/S. Sri Muthukumaran Educational Trust, Central Circle 2(1), 931, 11Th Sector, 69Th Street, Chennai-34. K.K. Nagar, Chennai – 600 078. Pan: Aabts6980L (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri A. Sundararajan, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 03.12.2019 घोषणा क" तार"ख /Date Of Pronouncement : 02.01.2020

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri A. Sundararajan, Addl.CIT
Section 11Section 271(1)(c)Section 271A

…Court in the case of M/s.MAK Data (P) Ltd., Vs. CIT, found that the explanation given by the assessee was neither false nor bonafide. Accordingly after referring to the judgment of the Hon’ble Gujarat High Court in the case of M/s. National Textiles Vs. CIT, 249 ITR 125, found that the assessee has neither concealed any part of the income nor filed any inaccurate particulars. 4.2 In this case also, the assessee has disclosed the entire receipt of donations. However the Assessing Officer found that it is not a voluntary donation but anonymous donation. The fact that the 7 I.T.A. No. 1501/Chny/2019 assessee has…

The Baramulla Central Coperative Bank Ltd, Kashmir vs. The Dy. Commissioner of Income Tax, Srinagar

In the result, the appeal of the assessee stands allowed

ITA 359/ASR/2016[2007-08]Status: DisposedITAT Amritsar19 Dec 2019AY 2007-08

Bench: Sh. N. K. Choudhry & Sh. O. P. Meena

For Appellant: Sh. Padam Bahl (C.A.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 271(1)(c)Section 36

…g of inaccurate particulars of income unless, the information as given in return of income was found to be incorrect or inaccurate. Similarly, the Hon’ble Gujarat High Court in the case of National 6 The Baramulla Central Coop. Bank Ltd. v. Dy. CIT Textile 249 ITR 125 (Gujarat) held that addition made is not conclusive, where the assessee has furnished evidence; it was held that no penalty is leviable. The other various decision of tribunals as well as High Courts as discussed above. In the light of above discussion, the penalty levied at Rs.3,04,750 is therefore, deleted. This ground of appeal is therefore…

M/S.Global Fashion Clothing Co., Mumbai vs. Income Tax Officer Ward-31(1)(5), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

ITA 5893/MUM/2018[2011-12]Status: DisposedITAT Mumbai09 Dec 2019AY 2011-12

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 5893/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2011-12) बिधम/ M/S. Global Fashion Ito, Ward 31(1)(5) Clothing Co. Pratyaksha Kar Bhavan, Vs. Shop No.7, Krdn Ind. Bandra (E), Mumbai- Estate, Off Aarey Road, 400051. Goregaon (E), Mumbai- 400063. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagfg5928B (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: None Revenue By: Shri V. Vinod Kumar (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 02/12/2019 घोषणा की तारीख /Date Of Pronouncement: 09/12/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 28.06.2018 Passed By The Commissioner Of Income Tax (Appeals)-42, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2011-12 In Which The Penalty Levied By The Ao Has Been Order To Be Confirmed.

For Appellant: NoneFor Respondent: Shri V. Vinod Kumar (Sr. DR)
Section 143(3)Section 271(1)(c)Section 36(1)(iii)

…actions on which the estimated income was assessed to the tune of Rs.2,310/-. No penalty is leviable on account of the income assessed on bogus purchase in view of the decision of Hon’ble Gujarat High Court in the case titled as National Textiles Vs. CIT 2001 164 CTR 2009 (Guj). The remaining two items are disallowance of interest as well as disallowance of employees contribution funds. The assessee has reflected all the transactions in its return of income which was disallowed by AO. After examination of the claim of the assessee, the AO disallowed the claim of the assessee which nowhere leads to levy the penalt…

Shri Sanjaybhai Gordhanbhai Jaksania, Rajkot-Gujarat vs. The Deputy Commissioner of Income Tax, Central Circle-2, Rajkot-Gujarat

ITA 175/RJT/2014[2007-08]Status: DisposedITAT Rajkot28 Nov 2019AY 2007-08

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Respondent: Shri Ranjeet Singh, CIT-DR
Section 271(1)(c)Section 68

…o the conclusion that the assessee has furnished any inaccurate particular of income or concealed the particulars of income. In this regard we draw support and guidance from the order of the Hon’ble Gujarat High Court in the case of National Textiles reported 249 ITR 125. The relevant extract of the judgment is extracted below: “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither disclosed with their particulars nor any supporting documents were on record. Only two entries were explained. The accou…

Shri Kishor Gordhanbhai Jaksania, Rajkot-Gujarat vs. The Deputy Commissioner of Income Tax, Central Circle-2, Rajkot-Gujarat

ITA 17/RJT/2014[2006-07]Status: DisposedITAT Rajkot28 Nov 2019AY 2006-07

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Respondent: Shri Ranjeet Singh, CIT-DR
Section 271(1)(c)Section 68

…o the conclusion that the assessee has furnished any inaccurate particular of income or concealed the particulars of income. In this regard we draw support and guidance from the order of the Hon’ble Gujarat High Court in the case of National Textiles reported 249 ITR 125. The relevant extract of the judgment is extracted below: “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither disclosed with their particulars nor any supporting documents were on record. Only two entries were explained. The accou…

Shri Ghanshyambhai Gordhanbhai Jaksania, Rajkot-Gujarat vs. The Deputy Commissioner of Income Tax, Central Circle-2, Rajkot-Gujarat

ITA 13/RJT/2014[2006-07]Status: DisposedITAT Rajkot28 Nov 2019AY 2006-07

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Respondent: Shri Ranjeet Singh, CIT-DR
Section 271(1)(c)Section 68

…o the conclusion that the assessee has furnished any inaccurate particular of income or concealed the particulars of income. In this regard we draw support and guidance from the order of the Hon’ble Gujarat High Court in the case of National Textiles reported 249 ITR 125. The relevant extract of the judgment is extracted below: “In the instant case, the cash credits were not satisfactorily explained by evidence and documents. The parties who had advanced the alleged temporary loans were neither disclosed with their particulars nor any supporting documents were on record. Only two entries were explained. The accou…

Ravi Goenka, Mumbai vs. ACIT 13(2), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

ITA 4253/MUM/2018[2008-09]Status: DisposedITAT Mumbai20 Nov 2019AY 2008-09

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No. 4253/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2008-09) बिधम/ Ravi Goenka Acit-13(2) Room No.418, 4Th Floor, 15 Shirin Chambes, 348/50 Vs. Samuel Street Vadgadi, Aayakar Bhavan, M. K. Mumbai-400003. Road, Mumbai. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacpg9107E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Ms. Renu Kapoor Revenue By: Ms. Jothi Lakshmi Nayak (Sr Ar) सुनवाई की तारीख / Date Of Hearing: 04/11/2019 घोषणा की तारीख /Date Of Pronouncement: 20/11/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 05.04.2018 Passed By The Commissioner Of Income Tax (Appeals)-28, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2008-09 In Which The Penalty Levied By The Ao Has Been Ordered To Be Confirmed.

For Appellant: Ms. Renu KapoorFor Respondent: Ms. Jothi Lakshmi Nayak (Sr
Section 143(1)Section 143(2)Section 148Section 271

…CIT (P) Ltd. 322 ITR 158 SC. Further, in the case of any addition on account bogus purchase, no penalty is liable in view of the decision of the Hon’ble Gujarat High Court in the case of Gujarat High Court in the case titled as National Textiles Vs. CIT 2001 164 CTR 2009 (Guj). In the said circumstances, we are of the view that the finding of the CIT(A) is not justifiable, therefore, we set aside the same and delete the penalty. 7. In the result, the appeal filed by the assessee is hereby ordered to be allowed. Order pronounced in the open court on 20/11/2019. (RAJESH KUMAR) (AMARJIT SINGH) लेखध सदस्य / ACCOUNT…

Shri Bhaveshbhai N. Patel, Ahmedabad vs. The Income Tax Officer, Ward-9(2), Ahmedabad

In the result the appeal of the assessee is allowed

ITA 2585/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad25 Oct 2019AY 2009-10

Bench: Ld. Cit (A) & Agreed To The Addition Made By The Ao On Account Of Stcg For Rs. 41,39,180.00. Accordingly The Same Was Confirmed By The Learned Cit (A).

For Appellant: Shri Tej Shah, A.RFor Respondent: Shri Lalit P. Jain, Sr.DR
Section 271(1)Section 271(1)(c)

…(c) of the Act. The assessee in support of his contention submitted various pronouncement of different Hon’ble Courts as detailed under: 1. Dilip N Shroff Vs. JCIT (2007) 291 ITR 519 (SC) 2. Ashok Patel Vs. CIT (2007) 292 ITR 11 (SC) 3. National Textile v CIT 249 ITR 125 (Gujarat) 4. CIT vs Baroda Tin Works (1996) 221 ITR 661 (Gujarat) and various ITAT judgments 7. However the AO held that assessee agreed to offer tax only after the same was confronted to him during assessment proceedings. The AO also held that Page 2 of 8 Asstt. Year 2009-10 assessee did not press the issue at appellate stage which signifies th…

Shri Ghanshyam Dungarbhai Sutariya, Surat vs. The ACIT, Circle-8, Surat

In the result, the appeal of the Assessee is dismissed

ITA 2971/AHD/2014[2009-10]Status: DisposedITAT Surat08 Aug 2019AY 2009-10

Bench: Shri H.S. Sidhu & Shri O.P. Meenaassessment Year: 2009-10 Ghanshyam Dungarbhai Sutaria, Vs. Acit, Circle-8, H.No. 1, 1St Floor, Sahaj Park Row Surat House, Hira Baug Circle, Vallabhacharya Road, Near Kailashdham Society, Ashwanikumar Road, Surat-395008 (Pan: Akkpp9318E) (Appellant) (Respondent)

Section 143(3)Section 251(1)Section 271(1)Section 271(1)(c)

…IT (2002) 253 ITR 454 (Guj.) ii) Hon’ble Gujarat High Court decision dated 17.10.1978 in the case of CIT vs. Vinaychand Harilal (1979) 120 ITR 752 (Guj.) iii) Hon’ble Gujarat High Court decision dated 09.10.2000 in the case of National Textiles vs. CIT (2001) 249 ITR 125 (Guj.) iv) ITAT, Ahmedabad ’A’ Bench Decision dated 30.11.2011 decided in ITA No. 2155/Adh/2010 (AY 94-95) in the case of ACIT vs. Manish Organics India Ltd. v) ITAT, Ahmedabad ’B’ Bench Decision dated 05.06.2015 decided in & ITA No. 1170/Ahd/2014 (AY 2007-08) in the case of M/s Ruchi Developers vs. ITO. 4. On the contrary, Ld. CIT(DR) has relie…