Nemi Chand Kothari v. CIT

264 ITR 254High Court2003#227 most cited

What is Nemi Chand Kothari v. CIT authority for?

For a cash credit, merely transacting by cheque is insufficient to discharge the assessee's burden of proof. The assessee must prove the identity of the creditors, the genuineness of the transaction, and the creditworthiness of the creditors; upon which, the burden shifts to the revenue.

340

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

Nemi Chand Kothari v. CIT · Section 68 · cash credit · onus of proof · burden of proof · identity of creditors · genuineness of transaction · creditworthiness of creditors · transaction by cheque · share application money · unexplained cash credit

Also reported as

136 Taxmann 213

Sections most often in play

Section 68Section 143(3)Section 142(1)Section 147Section 148Section 133(6)Section 143(2)Section 153A

Issues it is cited on

section 106creditworthiness of the creditorsource of sourceonus of proofshare capital and share premiumshell companyaddition under section 68addition u/s 68share application moneygenuineness of the transactionsection 127admission of additional evidence

Judgments citing Nemi Chand Kothari v. CIT

Sri Jagdish Prasad Sharma, New Delhi vs. ITO, Ghaziabad

The appeal of the assessee is dismissed

ITA 104/DEL/2015[2009-10]Status: DisposedITAT Delhi13 Jan 2020AY 2009-10

Bench: Shri Prashant Maharishi & Shri K.N.Charysri Jagdish Prasad Sharma, Vs. Ito, C/O. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2Nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi Pan: Azpps2130R (Appellant) (Respondent)

For Appellant: Ms. Timsi Sharma, CAFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)

…0 (Del- Trib) 10. Assessing Officer v. Mohan LalBubna Bros. (1994) 120 Taxation 75 (Dcl-Trib) and ACIT v. Tulsi Narayan Garg (2010) 34 (II) ITCL 554 (Agra-Trib). 11. CIT v. Metachem Industries (2000) 245 ITR 160 (MP) 12. Nemi Chand Kothari v. CIT &Anr. (2003) 264 ITR 254 (Gau) : (2003) 177 Taxdtion 390 (Gau) 13 Asstt. CIT v. Mahavir Metals & Alloys (2002)75 TTJ (Asr-Trib) 256 14. Asstt. CIT v. Dr. ArvindMathur (2005) 95 TTJ (Jod-Trib) 975 15. ITO v. Bhatia Enterprises (2003) 81 TTJ (Chd-Trib) 503 16. CIT v. Pragati Co-operative Bank Ltd. (2005) 6 (I) ITCL 421 (Guj-HC) : (2005) 278 ITR 170 (Guj) : (2005) 197 CTR (…

DCIT, Circle-2, Asansol vs. M/S. Diamond Bottling Plant Company, Kolkata

Appeal is dismissed

ITA 894/KOL/2019[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, V.P & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.894/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) Dcit, Circle-2, Asansol Vs. M/S Diamond Bottling Plant Company C/O. S.N. Ghosh & Associates, Seven Brothers Lodge, P.O-Buroshibtala, P.S- Chinsurah, Hooghly, - 712105. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaefd5674R (Appellant) .. (Respondent) Appellant By : Smt. Ranu Biswas, Sr. Dr Respondent By : Shri S.M. Surana, Advocate सुनवाई क" तार"ख/ Date Of Hearing : 11/12/2019 घोषणा क" तार"ख/Date Of Pronouncement : 31/12/2019 आदेश / O R D E R Per Shri S. S. Godara: This Revenue’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (A), Asansol Dated 30.01.2019 Passed In Case No.58/Cit(A)/Asl/Dcit/Cir-2/Asl/15-16 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Grievance Seeks To Revive Assessing Officer’S Action Treating Assessee’S Loans Of Rs.11,85,00,000/- As Unexplained Cash Credits U/S 68 Which Has Been Reversed To The Extent Of Rs.5,26,50,251/- In The Cit(A)’S Order. Its Case Accordingly Is That The Assessing Officer Had Rightly Added The Assessee’S Total Loan Amount Of Rs. 11,85,00,000/- Raised From Four Entities M/S Diamond Carbon Pvt. Ltd., M/S Mukherjee Capital Pvt. Ltd., M/S Wimper Trading & Distributors Pvt. Ltd. & M/S Mukherjee Farms Pvt. Ltd.

For Appellant: Smt. Ranu Biswas, Sr. DRFor Respondent: Shri S.M. Surana, Advocate
Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI P.M. JAGTAP, V.P & SHRI S. S. GODARA, JM आयकर अपीलसं./I.T.A No.894/Kol/2019 ("नधा"रण वष" / Assessment Year: 2012-13) DCIT, Circle-2, Asansol Vs. M/s Diamond Bottling Plant Company C/o. S.N. Ghosh & Associates, Seven Brothers Lodge, P.O-Buroshibtala, P.S- Chinsurah, Hooghly, - 712105. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAEFD5674R (Appellant) .. (Respondent) Appellant by : Smt. Ranu Biswas, Sr. DR Respondent by : Shri S.M. Surana, Advocate सुनवाई क" तार"ख/ Date of Hearing : 11/12/2019 घोषणा क" तार"ख/Date of Pronouncement : 31/12/2019 आदेश / O R…

Tradelink Carrying Pvt. Ltd., Kolkata vs. I.T.O., Ward-4(1), Kolkata

ITA 1636/KOL/2019[2013-14]Status: DisposedITAT Kolkata20 Dec 2019AY 2013-14

Bench: Shri A.T. Varkery, Am ]

Section 133(6)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C-SMC”BENCH: KOLKATA [Before Shri A.T. Varkery, AM ] I.TA No. 1636/Kol/2019 A.Y 2013-14 M/s. Tradelink Carrying Pvt. Ltd Vs. I.T.O., Ward 4(1), Kolkata PAN: AABCT0283A Appellant Respondent Date of Hearing 25-11-2019 Date of Pronouncement 20.12.2019 For the Appellant Shri M.D. Shah, Advocate, ld. AR For the Respondent Shri Jayanta Khanna, JCIT, ld.DR ORDER This is an appeal preferred by the assessee against the order of Ld. CIT (Appeals) , 2, Kolkata dated 24-06-2019 for the assessment year 2013-14. 2. The main grievance of the assessee is against the action of the ld…

The ITO, Ward -2(2)(2), Surat vs. Smt. Hansaben Bipiinkumar Kothari, Surat

In the result, appeal of the Revenue is dismissed

ITA 613/AHD/2016[2012-13]Status: DisposedITAT Surat13 Dec 2019AY 2012-13

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.613/Ahd/2016 "नधा"रण वष"/Assessment Year: 2012-13 The Income Tax Officer, Vs. Smt.Hansaben Bipinkumar Kothari, Ward-2(2)(2), Surat. 806-C, Kanaknidhi Apartment, Timliawad, Nanpura, Surat. [Pan: Adgpk 1894 D] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Sapnesh Sheth – Ca राज"वक"ओरसे /Revenue By Shri Sreenivas T.Bidari – Cit-Dr

Section 131Section 143(1)

…o the genuineness of the transactions in issue, or as regards the credit worthiness of the creditors, it would have had to discharge the onus which had shifted on to it. The Hon'ble Gauhati High Court in Nemi Chand Kothari v. Commissioner of Income Tax (2003) 264 ITR 254 (Gau) has on a harmonious construction of Section 106 of the Evidence Act and Section 68 of the Act, held that it is not the burden of the Assessee to prove the genuineness of the transactions between his creditor and sub-creditors nor is it the burden of the Assessee to prove that the sub-creditor had the creditworthiness to advance the cash cre…

M/S. Vasupujya Enterprises Pvt. Ltd., Kolkata vs. ITO, Ward - 1(3), Kolkata

In the result, the appeal of the assessee is treated as allowed for statistical purposes

ITA 594/KOL/2018[2014-15]Status: DisposedITAT Kolkata11 Dec 2019AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 68

…1986) 159 ITR 0078 ACIT vs Govind Ram Agarwal (2000) 19 CCH 0339 Kol. Trib. CIT vs Green Infra Limited reported in [2017] 392 ITR 7 (Born) Commissioner of Income-tax v. lovely Exports P. Ltd.[299] ITR 268] Nemi Chand Kothari v. Commissioner of Income-tax [264 ITR 254] CIT v . Expo Globe India Ltd. (2014) 361 ITR 147 (Delhi) CIT vs. Oasis Hospitalities Pvt. Ltd. and others (333 ITR 119) Commissioner of Income-tax v. Suresh Kumar Kakar [2010] 324 ITR 0231(Del) CIT- vs. Steller Investment Ltd. (1991) 192 ITR 287 (Del) CIT vs Achal Investment Ltd. (2004) 268 ITR 211 Commissioner of Income-tax v. Winstral Pe…

Abc Electricals Pvt. Ltd., Kolkata vs. ITO, Ward - 4(3), Kolkata

Appeals are dismissed

ITA 156/KOL/2018[2014-15]Status: DisposedITAT Kolkata15 Nov 2019AY 2014-15

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A Nos.153 & 154/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Ito, Ward-4(3), Kolkata Vs. Abc Electricals Pvt. Ltd. Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Revenue/Department) .. (Assessee ) & आयकर अपीलसं./I.T.A Nos.155 & 156/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Abc Electricals Pvt. Ltd. Vs. Ito, Ward-4(3), Kolkata Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Assessee) .. (Revenue/Department) Revenue/Department By : Shri A. K. Nayak, Cit Assessee By : Shri Subash Agarwal, Advocate सुनवाईक"तार"ख/ Date Of Hearing : 03/09/2019 घोषणाक"तार"ख/Date Of Pronouncement : 15/11/2019 आदेश / O R D E R Per Shri S. S. Godara: The Revenue & Assessee Have Filed Their Instant Cross-Appeals For Assessment Years 2013-14 To 2014-15 Arise Against The Commissioner Of Income Tax (A) - 2, Kolkata’S Separate Orders; Both Dated 01.12.2017 Passed In Case No.10147/Cit(A)-2/2016-17 & No.10919/Cit(A)-2/2016-17 Restricting The Assessing Officer’S Action Disallowing The Entire Purchases Of Rs.4,90,30,444/-

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri A. K. Nayak, CIT
Section 143(3)

…d also have proved their identity. Reliance is placed on following judgments: -CIT Vs. Ms Nikuni Exim Enterprises Pvt. Ltd. (Bom.) (ITA no. 5604 of 2010 dated 17-12-2012). -Addl CIT Vs. Bahari Bros (1985) 154 ITR 244 (Pat.); -Nemi Chand Kothari Vs. CIT (2003) 264 ITR 254 (Gau.). For the proposition that where the account books of the assessee are not rejected the addition cannot be made and the payments having been made through account payee cheques which has not been controverted by the assessing officer, cannot be disallowed Further reliance is placed on: (i) Sagar Boss Vs. ITO 56 ITD 561- holding that when the…

Abc Electricals Pvt. Ltd., Kolkata vs. ITO, Ward - 4(3), Kolkata

Appeals are dismissed

ITA 155/KOL/2018[2013-14]Status: DisposedITAT Kolkata15 Nov 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A Nos.153 & 154/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Ito, Ward-4(3), Kolkata Vs. Abc Electricals Pvt. Ltd. Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Revenue/Department) .. (Assessee ) & आयकर अपीलसं./I.T.A Nos.155 & 156/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Abc Electricals Pvt. Ltd. Vs. Ito, Ward-4(3), Kolkata Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Assessee) .. (Revenue/Department) Revenue/Department By : Shri A. K. Nayak, Cit Assessee By : Shri Subash Agarwal, Advocate सुनवाईक"तार"ख/ Date Of Hearing : 03/09/2019 घोषणाक"तार"ख/Date Of Pronouncement : 15/11/2019 आदेश / O R D E R Per Shri S. S. Godara: The Revenue & Assessee Have Filed Their Instant Cross-Appeals For Assessment Years 2013-14 To 2014-15 Arise Against The Commissioner Of Income Tax (A) - 2, Kolkata’S Separate Orders; Both Dated 01.12.2017 Passed In Case No.10147/Cit(A)-2/2016-17 & No.10919/Cit(A)-2/2016-17 Restricting The Assessing Officer’S Action Disallowing The Entire Purchases Of Rs.4,90,30,444/-

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri A. K. Nayak, CIT
Section 143(3)

…d also have proved their identity. Reliance is placed on following judgments: -CIT Vs. Ms Nikuni Exim Enterprises Pvt. Ltd. (Bom.) (ITA no. 5604 of 2010 dated 17-12-2012). -Addl CIT Vs. Bahari Bros (1985) 154 ITR 244 (Pat.); -Nemi Chand Kothari Vs. CIT (2003) 264 ITR 254 (Gau.). For the proposition that where the account books of the assessee are not rejected the addition cannot be made and the payments having been made through account payee cheques which has not been controverted by the assessing officer, cannot be disallowed Further reliance is placed on: (i) Sagar Boss Vs. ITO 56 ITD 561- holding that when the…

ITO, Ward - 4(3), Kolkata vs. Abc Electricals Pvt. Ltd., Kolkata

Appeals are dismissed

ITA 154/KOL/2018[2014-15]Status: DisposedITAT Kolkata15 Nov 2019AY 2014-15

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A Nos.153 & 154/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Ito, Ward-4(3), Kolkata Vs. Abc Electricals Pvt. Ltd. Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Revenue/Department) .. (Assessee ) & आयकर अपीलसं./I.T.A Nos.155 & 156/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Abc Electricals Pvt. Ltd. Vs. Ito, Ward-4(3), Kolkata Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Assessee) .. (Revenue/Department) Revenue/Department By : Shri A. K. Nayak, Cit Assessee By : Shri Subash Agarwal, Advocate सुनवाईक"तार"ख/ Date Of Hearing : 03/09/2019 घोषणाक"तार"ख/Date Of Pronouncement : 15/11/2019 आदेश / O R D E R Per Shri S. S. Godara: The Revenue & Assessee Have Filed Their Instant Cross-Appeals For Assessment Years 2013-14 To 2014-15 Arise Against The Commissioner Of Income Tax (A) - 2, Kolkata’S Separate Orders; Both Dated 01.12.2017 Passed In Case No.10147/Cit(A)-2/2016-17 & No.10919/Cit(A)-2/2016-17 Restricting The Assessing Officer’S Action Disallowing The Entire Purchases Of Rs.4,90,30,444/-

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri A. K. Nayak, CIT
Section 143(3)

…d also have proved their identity. Reliance is placed on following judgments: -CIT Vs. Ms Nikuni Exim Enterprises Pvt. Ltd. (Bom.) (ITA no. 5604 of 2010 dated 17-12-2012). -Addl CIT Vs. Bahari Bros (1985) 154 ITR 244 (Pat.); -Nemi Chand Kothari Vs. CIT (2003) 264 ITR 254 (Gau.). For the proposition that where the account books of the assessee are not rejected the addition cannot be made and the payments having been made through account payee cheques which has not been controverted by the assessing officer, cannot be disallowed Further reliance is placed on: (i) Sagar Boss Vs. ITO 56 ITD 561- holding that when the…

ITO, Ward - 4(3), Kolkata vs. Abc Electricals Pvt. Ltd., Kolkata

Appeals are dismissed

ITA 153/KOL/2018[2013-14]Status: DisposedITAT Kolkata15 Nov 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकर अपीलसं./I.T.A Nos.153 & 154/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Ito, Ward-4(3), Kolkata Vs. Abc Electricals Pvt. Ltd. Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Revenue/Department) .. (Assessee ) & आयकर अपीलसं./I.T.A Nos.155 & 156/Kol/2018 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Abc Electricals Pvt. Ltd. Vs. Ito, Ward-4(3), Kolkata Room No.44, 10Th Floor, Fortuna Tower, 23A, Netaji Subhas Road, (Opp. Coal Bhawan), Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacca7561P (Assessee) .. (Revenue/Department) Revenue/Department By : Shri A. K. Nayak, Cit Assessee By : Shri Subash Agarwal, Advocate सुनवाईक"तार"ख/ Date Of Hearing : 03/09/2019 घोषणाक"तार"ख/Date Of Pronouncement : 15/11/2019 आदेश / O R D E R Per Shri S. S. Godara: The Revenue & Assessee Have Filed Their Instant Cross-Appeals For Assessment Years 2013-14 To 2014-15 Arise Against The Commissioner Of Income Tax (A) - 2, Kolkata’S Separate Orders; Both Dated 01.12.2017 Passed In Case No.10147/Cit(A)-2/2016-17 & No.10919/Cit(A)-2/2016-17 Restricting The Assessing Officer’S Action Disallowing The Entire Purchases Of Rs.4,90,30,444/-

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri A. K. Nayak, CIT
Section 143(3)

…d also have proved their identity. Reliance is placed on following judgments: -CIT Vs. Ms Nikuni Exim Enterprises Pvt. Ltd. (Bom.) (ITA no. 5604 of 2010 dated 17-12-2012). -Addl CIT Vs. Bahari Bros (1985) 154 ITR 244 (Pat.); -Nemi Chand Kothari Vs. CIT (2003) 264 ITR 254 (Gau.). For the proposition that where the account books of the assessee are not rejected the addition cannot be made and the payments having been made through account payee cheques which has not been controverted by the assessing officer, cannot be disallowed Further reliance is placed on: (i) Sagar Boss Vs. ITO 56 ITD 561- holding that when the…

Navyug Iron Traders, Ghaziabad vs. DCIT, Ghaziabad

In the result, appeal of Assessee allowed

ITA 553/DEL/2017[2010-11]Status: DisposedITAT Delhi24 Sept 2019AY 2010-11

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: Shri Akhilesh KumarFor Respondent: Shri Atiq Ahmad, Sr. D.R
Section 68

…ients of Section 68 of the I.T. Act. We rely upon Judgment of the Hon’ble Gujarat High Court in the case of Rohini Builders 256 ITR 360 (Guj.) and Gauhati High Court 9 ITA.No.553/Del./2017 M/s. Navyug Iron Traders, Ghaziabad. in the case of Nemichand Kothari 264 ITR 254 (Gauhati). Since in this case the repayment made by assessee in subsequent year have not been disputed by the Revenue Department, therefore, case of assessee would also be covered by Judgment of Hon’ble Gujarat High Court in the case of CIT vs. Ayachi Chandrashekhar Narsangji (supra) and Hon’ble Allahabad High Court in the case of CIT vs. Kapoor…

Verma Service Station, Firozabad vs. ACIT, Firozabad

In the result, the appeal of the assessee is dismissed

ITA 212/AGR/2018[2009-10]Status: DisposedITAT Agra11 Sept 2019AY 2009-10

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meena

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH: AGRA BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER,AND DR. MITHA LAL MEENA, ACCOUNTANT MEMBER I.T.A No.212/Agra/2018 (ASSESSMENT YEAR: 2009-10) Verma Service Station Bye Pass Vs. ACIT, Circle 2(2)(1), Road, Firozabad. Firozabad. PAN: AAAFV0442K (Respondent) (Appellant) Appellant by Shri R. K. Agarwal & Rahul Agarwal, Advs. Respondent by Shri Waseem Arshad, Sr. DR. Date of Hearing 18.07.2019 Date of Pronouncement 11.09.2019 ORDER Per Dr. M.L. Meena, A.M.: This appeal by the assessee is directed against the order dated 29.12.2017 passed by the Commissioner of In…

Prayag Polytech Pvt. Ltd., New Delhi vs. Addl. CIT, Special Range- 7, New Delhi

In the result, the appeal of the assessee is allowed

ITA 6015/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Jun 2019AY 2014-15

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumarassessment Year: 2014-15

For Appellant: Sh. Ved Jain, Adv. & Sh. Ashish Goel, AdvFor Respondent: Sh. Surender Pal, Sr. DR
Section 127(1)Section 133(6)Section 142(1)Section 143(2)Section 68

…) 151 ITR 150 (Patna High Court) (ii) Jalan Timber vs CIT (1997) 223 ITR 11 (Gauhati H.C.) (iii) Neeru Devi Kothari vs ITO (2001) 116 Taxman 224 (Jodhpur) (iv) Sarogi Credit Corporation vs CIT (1976) 103 ITR 344 (Patna HC) (v) Nemi Chand Kothari vs CIT [2004] 264 ITR 254(Gau) (vi) S. Hastimal vs CIT 49 ITR 272 (vii) CIT vs PithampurConzima (P) Ltd. (2000) 244 ITR 442 (MP High Court (viii) TolaramDaga's case [1966] 59 ITR 632 (Assam) 11. In reply the Ld. DR placed reliance on the order passed by the AO and the Ld. CIT(A). It was submitted that the assessee has failed to discharge its onus under section 68 of the…

Addl. CIT, Special Range- 7, New Delhi vs. Prayag Polytech Pvt. Ltd., New Delhi

In the result, the appeal of the assessee is allowed

ITA 5970/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Jun 2019AY 2014-15

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumarassessment Year: 2014-15

For Appellant: Sh. Ved Jain, Adv. & Sh. Ashish Goel, AdvFor Respondent: Sh. Surender Pal, Sr. DR
Section 127(1)Section 133(6)Section 142(1)Section 143(2)Section 68

…) 151 ITR 150 (Patna High Court) (ii) Jalan Timber vs CIT (1997) 223 ITR 11 (Gauhati H.C.) (iii) Neeru Devi Kothari vs ITO (2001) 116 Taxman 224 (Jodhpur) (iv) Sarogi Credit Corporation vs CIT (1976) 103 ITR 344 (Patna HC) (v) Nemi Chand Kothari vs CIT [2004] 264 ITR 254(Gau) (vi) S. Hastimal vs CIT 49 ITR 272 (vii) CIT vs PithampurConzima (P) Ltd. (2000) 244 ITR 442 (MP High Court (viii) TolaramDaga's case [1966] 59 ITR 632 (Assam) 11. In reply the Ld. DR placed reliance on the order passed by the AO and the Ld. CIT(A). It was submitted that the assessee has failed to discharge its onus under section 68 of the…

Vijay Aggarwal, Delhi vs. ITO, Ward- 48(5), New Delhi

In the result, all the appeals of different assessees are partly allowed

ITA 1077/DEL/2019[2010-11]Status: DisposedITAT Delhi30 May 2019AY 2010-11

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahuassessment Year: 2010-11

Section 147Section 148Section 56(2)(vii)Section 68

…raogi Credit Corporation v CIT vii. 59 ITR 632 at 636 (Assam) TolaRam Daga v cIT viii. 49 ITR 273 at 279 (Mad) S. Hastimal v CIT ix. 151 ITR 150 at 156-157 (Pat) Addl. CIT, Bihar v Hanuman Aggarwal x. 154 ITR 244 at 247 (Pat) Addl CIT v Bahri Bros. (P) Lt xi. 264 ITR 254 at 261-266 (Gau) Nemichand Kothari v. CIT xii. 280 ITR 512 at 518 (Guj) Murlidhar Lahorimal Vs. CIT xiii. [2008] 219 CTR (Raj.) 571 at 577 Labh Chand Bohra v. ITO xiv. 256 ITR 360 at 369 (Guj) DCIT Vs Rohini Builders It is necessary to state that these loans are interest bearing loan and AO has also noticed that part of the same has been return…

Titan Engineering Co. Pvt. Ltd., Durgapur vs. DCIT, Circle - 1(2), Kolkata

Appeal is partly allowed in above terms

ITA 2250/KOL/2018[2012-13]Status: DisposedITAT Kolkata17 May 2019AY 2012-13

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2012-13 Titan Engineering Co. Pvt. V/S. Dcit, Circle-1(2), Ltd., Sanjibi Sarani, Aayakar Bhawan, P-7, 7Th Floor, Chowringhee Durgapur-713210 [Pan No.Aabct 4321 K] Square, Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri H.V. Bhardwaj, Fca अपीलाथ" क" ओर से/By Appellant Shrishankar Halder, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 07-05-2019 सुनवाई क" तार"ख/Date Of Hearing 17-05-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-1, Kolkata’S Order Dated 05.09.2018 Passed In Case No.18161/Cit(A)-1/Kol./Cir.-1(2)/2015-16, Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. Learned Counsel Representing Assessee Does Not Press For First Substantive Ground Raised In The Instant Appeal Challenging Liquidated Damage Disallowance Of ₹85,099/- Made In Both The Lower Proceedings Keeping In Mind Smallness Of The Amount. 3. This First Substantive Ground Is Rejected As Not Pressed. 4. Next Comes The Estimated Ad Hoc Disallowance Of Site Expense Amounting To ₹4,74,241/- In Both The Lower Proceedings. The Cit(A)’S Detailed Discussion To This Effect Reads As Follows:-

Section 143(3)

…thetics Pvt. Ltd. v. CIT [2002] 256 ITR 331 (Raj); R. B. Mittal v. CIT [2000] 246 ITR 283 (AP) ; CIT v. United Commercial and Industrial Co. P. Ltd. [1991] 187 ITR 596 (Cal); M. A. UnneeriKutty v. CIT [1992] 198 ITR 147 (Ker); Nemi Chand Kothari v. CIT [2003] 264 ITR 254 (Gauhati); and Hindusthan Tea Trading Co. Ltd. v. CIT [2003] 263 ITR 289 (Cal) support the view that Revenue authorities are entitled to consider genuineness of the transactions and to penetrate the veil in order to ascertain the truth. They are entitled to look into the surrounding circumstances to find out the realities of the transactions show…

Income Tax Officer-16(1)(5), Mumbai vs. M/S.Re N Raga Media Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 6311/MUM/2017[2009-10]Status: DisposedITAT Mumbai09 May 2019AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Bleincome Tax Officer - 16(1)(5) V. M/S. Re N Raga Media Pvt. Ltd., Room No. 439, 4Th Floor Bungalow No. A/8, Svp Nagar Aayakar Bhavan, M.K. Road, Nr. Mhada Telephone Exchange, Mumbai-400 020 Andheri (W), Mumbai – 400 053

For Appellant: Shri Birju S. ShahFor Respondent: Shri D.G. Pansari
Section 131Section 133ASection 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI M. BALAGANESH, HON'BLE ACCOUNTANT MEMBER Income Tax Officer - 16(1)(5) v. M/s. Re n Raga Media Pvt. Ltd., Room No. 439, 4th Floor Bungalow No. A/8, SVP Nagar Aayakar Bhavan, M.K. Road, Nr. Mhada Telephone Exchange, Mumbai-400 020 Andheri (W), Mumbai – 400 053 PAN: AAKCS 8934 L (Appellant) (Respondent) Assessee by : Shri Birju S. Shah Department by : Shri D.G. Pansari Date of Hearing : 09.04.2019 Date of Pronouncement : 09.05.2019 O R D E R PER C.N. PRASAD (JM) 1. This appeal is filed by the R…

Kanchan Plywood Products Pvt. Ltd., Jalpaiguri vs. ITO, Ward - 1(2), Jalpaiguri

ITA 2411/KOL/2017[2012-13]Status: DisposedITAT Kolkata01 May 2019AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini Am]

Section 133(6)Section 68

…1 M/s. Kanchan Plywood Products Pvt. Ltd. AY- 2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH, “B” AT KOLKATA (सम") "ी ऐ. ट". वक", "यायीक सद"य एवं डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A.L. Saini AM] I.T.A. No. 2411/Kol/2017 Assessment Year: 2012-13 Kanchan Plywood Products Pvt. Ltd. Vs. ITO, Ward – 1(2), Jalpaiguri [PAN: AAECK 2706 Q] Appellant Respondent Date of Hearing 05.03.2019 Date of Pronouncement 01.05.2019 For the Appellant Shri Subash Agarwal, Advocate For the Respondent Shri Rabin Choudhury, Addl. CIT, Sr. DR ORDER Per Shri A.T.Varkey, JM This is an appeal…

ITO, Ward-6(3), Kolkata vs. M/S Savitri Share and Securities Pvt Ltd., Kolkata

ITA 1703/KOL/2016[2012-13]Status: DisposedITAT Kolkata01 May 2019AY 2012-13

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 131Section 68

…1 Savitri Share & Securities Pvt. Ltd, AY 2012-13 आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम") "ी ऐ. ट". वक", "यायीक सद"य एवं डॉ. अजु"न लाल सैनी, लेखा सद"य) [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM] I.T.A. No. 1703/Kol/2016 Assessment Years: 2012-13 Income-tax Officer, Ward-6(3), Vs. M/s. Savitri Share & Securities Pvt. Kolkata Ltd. (PAN: AANCS5657H) Appellant Respondent For the Appellant Shri Sankar Halder, JCIT, Sr. DR For the Respondent Shri Manish Tiwari, FCA Date of Hearing 14.02.2019 Date of Pronouncement 01.05.2019 ORDER Per Shri…

Income Tax Officer Ward-2(2), Mumbai vs. Span Venture, Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 4446/MUM/2017[2012-13]Status: DisposedITAT Mumbai26 Apr 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Rajesh Kumarassessment Year: 2012-13

For Appellant: Shri Rashmikanat C. Modi, A.RFor Respondent: Shri Arun Kumar Singh, D.R
Section 132Section 133(6)Section 143(1)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2012-13 Income Tax Officer, M/s. Span Venture, Ward-2(2), 1st Floor, Span Duplex, Room No.B/26, Opp. Maxus Mall, 6th Floor, Vs. Bhayander West, Ashar IT Park, PAN: ABVFS 7153A B-Wing, Wagle Indl. Estate, Thane (W) – 400 604 (Appellant) (Respondent) Assessment Year: 2012-13 Income Tax Officer, M/s. Span Realtors, Ward-2(2), B-001-002, Room No.B/26, Gopal Darshan Indralok 6th Floor, Vs. Phase-II, Ashar IT Park, Bhayander East, B-Wing, Wagle Indl. PAN…

DCIT, Circle-3(1), Kolkata vs. M/S. Lal Baba Seamless Tubes Pvt. Limited, Kolkata

In the result, the appeal of the assessee is treated as allowed for statistical purposes, while the appeal of the Revenue is treated as partly allowed for statistical purposes

ITA 1637/KOL/2017[2014-15]Status: DisposedITAT Kolkata12 Apr 2019AY 2014-15

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

Section 68

…hetics Pvt. Ltd. v. CIT [2002] 256 ITR 331 (Raj); R. B. Mittal v. CIT [2000] 246 ITR 283 (AP) ; CIT v. United Commercial and Industrial Co. P. Ltd. [1991] 187 ITR 596 (Cal); M. A. Unneeri Kutty v. CIT [1992] 198 ITR 147 (Ker); Nemi Chand Kothari v. CIT [2003] 264 ITR 254 (Gauhati); and Hindusthan Tea Trading Co. Ltd. v. CIT [2003] 263 ITR 289 (Cal) support the view that Revenue authorities are entitled to consider genuineness of the transactions and to penetrate the veil in order to ascertain the truth. They are entitled to look into the surrounding circumstances to find out the realities of the transactions show…