DCIT-13(3)(2), Mumbai vs. M/S Vedartha Entertainment Ltd., Mumbai
ITA 4169/MUM/2019[2014-15]Status: DisposedITAT Mumbai25 Nov 2021AY 2014-15
Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2014-15 Dcit-13(3)(2), M/S Vedartha Entertainment Ltd., Room No. 229/219, 2Nd Floor, Vs. 201, 2Nd Floor, Jaimala Apartment, Aayakar Bhavan, M.K. Road, Near Hotel Shimmers, Link Road, Mumbai-400020. Malad (E), Mumbai-400064. Pan No. Aaecv 0129 N Appellant Respondent Revenue By : Mr. Usha Gaikwad, Dr Assessee By : Ms. Neelkant Khandelwal, Ar Date Of Hearing : 21/09/2021 Date Of Pronouncement : 25/11/2021
For Appellant: Ms. Neelkant Khandelwal, ARFor Respondent: Mr. Usha Gaikwad, DR
Section 131Section 142(1)Section 143Section 143(3)
…Hon. Allahabad High Court in the case of Munnala/Murlidhar v. Commissioner of Income Tax [1971] 79 ITR 540. 23. We would like to draw further reference to Hon. Nagpur High Court's decision in case of Niranjanlal Ramballabh v. Commissioner of Income Tax [1956] 29 ITR 459, the catch-note of which is reproduced as under: Section 68, read with section 131 of the Income-tax Act, 1961 – Cash credits - Assessment year 1946-47 - While scrutinizing books of account of assessee-firm, ITO found that certain deposits appearing in personal account of certain persons were not genuine - Assessee explained that aggregate amounts…
