Orient Trading Co. Ltd. v. CIT

49 ITR 723High Court1963#844 most cited

What is Orient Trading Co. Ltd. v. CIT authority for?

When a cash credit is found, the assessee discharges the initial burden by proving the identity of the creditor and the genuineness of the transaction, shifting the burden to the Revenue. The assessee is not required to prove the source of the creditor's funds (source of source).

123

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Orient Trading Co. Ltd. v. CIT · Section 68 · cash credits · onus of proof · identity of creditor · genuineness of transaction · source of source · shifting burden · creditworthiness · addition under section 68

Sections most often in play

Section 68Section 143(3)Section 131Section 147Section 148Section 132Section 115BBESection 133(6)

Issues it is cited on

summons under section 131section 131(1)source of sourcepermanent account numberonus of proofcreditworthiness of the creditorpaper companyaddition under section 68addition u/s 68genuineness of the transactionshare application moneysection 131

Judgments citing Orient Trading Co. Ltd. v. CIT

B.R. Associates Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee are allowed

ITA 4964/DEL/2012[2005-06]Status: DisposedITAT Delhi10 Jan 2019AY 2005-06

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 10Section 132Section 153ASection 2(22)Section 234ASection 68

…the bank accounts of those creditors because under law the assessee can be asked to prove the source of the credits in its books of account but not the source of the source as held by the Bombay High Court in the case of Orient Trading Co. Ltd. v. CIT [1963] 49 ITR 723. The genuineness of the transaction is proved by the fact that the payment to the assessee as well as repayment of the loan by the assessee to the depositors is made by account payee cheques and the interest is also paid by the assessee to the creditors by account payee cheques. Merely because summons issued to some of the creditors could not be s…

M/S. South Shourne Corporation (India), Baroda vs. The Asstt. Commissioner of Income Tax, Circel-2(2), Baroda

ITA 269/AHD/2017[2004-05]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2004-05

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.269/Ahd/2017 "नधा"रण वष"/Asstt. Year: 2004-2005 M/S South Shourne Corporation(India) Acit, 931, Gidc Estate, Circle-2(2), V Makarpura, Baroda. S. Baroda.

For Appellant: Shri Parimal Parmar, A.RFor Respondent: Shri Apoorva Bhardwaj, Sr.DR
Section 234ASection 271Section 36Section 68

…the bank accounts of those creditors because under law the assessee can be asked to prove the source of the credits in its books of account but not the source of the source as held by the Bombay High Court in the case of Orient Trading Co. Ltd. v. CIT [1963] 49 ITR 723. The genuineness of the transaction is proved by the fact that the payment to the assessee as well as repayment of the loan by the assessee to the depositors is made by account payee cheques and the interest is also paid by the assessee to the creditors by account payee cheques.” 9.9 In view of the above we hold that the assessee has discharged h…

Pooja Tyre Marketing, Himatnagar vs. The Income Tax Officer, S.K. Ward-3, Himatnagar

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

ITA 253/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2012-13

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.253/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2012-2013 Pooja Tyre Marketing, Income Tax Officer, Aakar Complex, S.K Ward 3, Vs. Himatnagar. Opp. Vyapar Bhawan, Himatnagar-383 001. Pan: Aabfa9200G

For Respondent: Shri
Section 133(6)Section 68

…the bank accounts of those creditors because under law the assessee can be asked to prove the source of the credits in its books of account but not the source of the source as held by the Bombay High Court in the case of Orient Trading Co. Ltd. v. CIT [1963] 49 ITR 723.” 10.6 There was no documentary evidence brought on record suggesting that the money advanced as a loan by the lender is representing the undisclosed income of the assessee. Once the assessee has filed the necessary documents in support of the cash credits to the AO during the assessment proceedings the onus shifts on the AO to prove otherwise. I…

ITO, Ward - 36(1), Kolkata vs. Shri Rakesh Agarwal, Kolkata

In the result, the appeal filed by the Revenue is dismissed

ITA 2008/KOL/2017[2013-14]Status: DisposedITAT Kolkata19 Dec 2018AY 2013-14

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2008/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14)

For Appellant: Shri K. Mondal, Sr. DRFor Respondent: None
Section 143(3)Section 57Section 68

…ource of credit in him hand, there cannot be addition in the hands of the assessee, because the assessee has satisfactorily explained the source of credit shown in his books as also the identity of the creditor has also been established (103 ITR 344 (Pat) and 49 ITR 723 (Bom). 12. Hon'ble Courts have opined that when there is failure of the Ld. AO to issue summons to the creditors whose names and addresses have been furnished by the assessee absolve the assessee from any further liability. In an interesting judgment, the Hon'ble Jurisdictional Calcutta High Court in case of CIT vs. Assessment Year: 2013-14 Shri R…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1470/DEL/2018[2015-16]Status: DisposedITAT Delhi06 Sept 2018AY 2015-16

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1469/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1467/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1466/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1465/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Sept 2018AY 2010-11

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1464/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1190/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1189/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Sept 2018AY 2010-11

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1186/DEL/2018[2013-14]Status: DisposedITAT Delhi06 Sept 2018AY 2013-14

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1185/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1182/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1181/DEL/2018[2015-16]Status: DisposedITAT Delhi06 Sept 2018AY 2015-16

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1180/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…/Del/2018, 1468/Del/2018, 1469/Del/2018, 1470/Del/2018 Assessment Year 2009-10 to 2015-16 h. Commissioner of Income-tax v. Value Capital Services (P.) Ltd. [2008] 307 ITR 334 (Delhi); i. Orient Trading Co. Ltd. v. Commissioner of Income-tax (Central) [1963 ] 49 ITR 723 (Bombay) Copy of statement recorded was not confronted to the appellant xii. Even though the same has been used against the appellant. xiii. The AO is duty bound to suo moto furnish the statement / evidence etc he seeks to rely upon against the appellant. xiv. Following decision are relied upon (Copy of decisions is attached) a) Kishinchand Chell…

ITO, New Delhi vs. M/S. Xo Infotech Ltd., Ahmedabad

In the result, Appeal of the Department is

ITA 3342/DEL/2013[2009-10]Status: DisposedITAT Delhi09 Jul 2018AY 2009-10

Bench: Sh.Bhavnesh Saini & Sh. L.P.Sahu[Assessment Year: 2009-10] Xo Infotech Ltd., The Income Tax Officer, (Now Known As M/S. Saral Mining Ltd.), 304, Saffron Vs. Ward-7(3), Room No.306, Building, Panchvati To Ambawadi Road, Ambawadi C.R.Building, New Delhi. Ellisbeidge,Ahmedabad- 380006.Pan-Aaaxx0059K (Appellant) (Respondent) By Revenue : Shri Vijay Varma, Cit-D.R. By Assessee : Shri S.R. Wadhwa, Advocate Date Of Hearing : 07.06.2018 Date Of Pronouncement : 09.07.2018

For Appellant: Shri S.R. Wadhwa, AdvocateFor Respondent: Shri Vijay Varma, CIT-D.R
Section 133(6)Section 143(2)Section 68

…d. [2010] 233 CTR (Delhi) 6. CITv. Dwarkadhish Investment (P) Ltd [2010] 194 Taxman 43 ( Delhi) 7. CIT V. Gangour Investment Ltd [2011] 335 ITR 0359 (Delhi) 8. CITv. Electro Polychem Ltd [2007] 294 ITR 0661 (Madras) 9. Orient Trading Co. Ltdv. CIT (1963) 049 ITR 723 (Bombay) 10. A-One Housing Complex Ltd v. Income Tax Officer [2008] 299 ITR (AT) 327 (Delhi) 11. Aravali Trading Co. v. ITO [2009] CTR 622 [Rajasthan} ITA No.3342/Del/2013 XO Infotech Ltd., Ahmedabad. I have gone through the case laws relied upon by the Id. AR of the appellant in this regard. 6.2. Besides that ld. AR of the appellant has also…

The ITO, Ward - 3(2)(2), Surat vs. Shri Popatbhai Ranchhodbhai Bhadani, Surat

In the result, the appeal of the Revenue as well as Cross

ITA 585/AHD/2016[2011-12]Status: DisposedITAT Surat22 Jun 2018AY 2011-12

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.585/Ahd/2016/Srt & Co. No. 63/Ahd/2016/Srt िनधा"रण वष"/Assessment Year :2011-12 1. Income Tax Officer, Vs 1. Shri Popatbhai Ranchhodbhai Ward- 3(2)(2) Surat Bhadani, House No.12, Bhumi Row House, Ved Road Surat 395008 Pan:Adspb6681R Vs 2. Shri Popatbhai Ranchhodbhai 2.Income Tax Officer, Bhadani, Ward- 3(2)(2) Surat House No.12, Bhumi Row House, Ved Road Surat 395008 Pan:Adspb6681R अपीलाथ" Appellant ""यथ"/Respondent

For Respondent: 2. Ground No. 1 to 4 states that Ld. CIT (A) erred in
Section 133(6)Section 143Section 68

…and the assessee was not expected to prove the genuineness of the cash deposited in the bank accounts of those creditors because ITO 3(2)(2) Surat v. Popatbhai Ranchhodbhai Bhadani /I.T.A. No.585 & CO-63/Ahd/2016/A.Y.:11-12 Page 10 of 19 Ltd. v. CIT [1963] 49 ITR 723 (Bom). The genuineness of the transaction was proved by the fact that payment was made by account payee cheques to the assessee as well as repayment of the loan by the assessee to the depositors and the interest was paid by the assessee to the creditors by account payee cheques. In the case of CIT v. Orissa Corporation (P) Ltd. [1986] 159 ITR 78…

ITO 19(1)(2), Mumbai vs. Babulal U Munot, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 4506/MUM/2015[2010-11]Status: DisposedITAT Mumbai11 May 2018AY 2010-11

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4506/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2010-11) The Ito-19(1)(2), Mumbai, बिधम/ Shri Babulal U Munot 2Nd Floor, Matru Mandir, Prop. M/S. Steel Samrat Vs. (India) Flat No. 1901-A, 19Th Tardeo Road, Mumbai- 400007 Floor, Shreepati Tower, A Wing, Tatya Gharpure Path, Girgaon Mumbai-04 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aftpm5429H (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri T. A. Khan (Dr) Assessee By: None सुनवाई की तारीख / Date Of Hearing: 26.03.2018 घोषणा की तारीख /Date Of Pronouncement: 11.05.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 15.05.2015 Passed By The Commissioner Of Income Tax (Appeals) -30, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. 2. The Revenue Has Raised The Following Grounds: - “(1) Whether, On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Has Erred In Restricting The Addition To The Extent Of 7.5% Of Non-Genuine Purchase Claimed By The Assessee A.Y.2010-11

For Appellant: NoneFor Respondent: Shri T. A. Khan (DR)
Section 133(6)Section 143(1)Section 143(2)Section 69C

…an addition to be made by simply brushing aside the return of income, copy of which was filed with the appellant. 2.5.6 In this regard, I am fortified in my view by the decision of Hon'ble Bombay High Court in the case of M/s, Orient Trading Co. Ltd. vs, CIT 49 ITR 723 where while dealing with the issue of burden of proof in respect of cash credit, it was held that when the entry stands in the name of a third party and the assessee satisfies the 1TO as to the identify of that third party and also supplies such other evidence which prima facie shows that the entry is not fictitious, the initial burden which lies…