Pavankumar M Sanghvi v. ITO

404 ITR 601High Court2018#2376 most cited

What is Pavankumar M Sanghvi v. ITO authority for?

The assessee's onus to explain the nature and source of a credit under Section 68 is not discharged merely by furnishing confirmatory letters, proof of banking transactions, or income tax assessment particulars; a deeper inquiry into the creditworthiness and genuineness of the transaction is required.

49

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2018 to 2026.

Also referred to as

Pavankumar M Sanghvi v. ITO · 404 ITR 601 · Section 68 · cash credit · onus of assessee · creditworthiness of creditor · source of source · share application money · genuineness of transaction · confirmatory letters · banking channels

Also reported as

90 Taxmann.com 386

Sections most often in play

Section 1961Section 68Section 133(6)Section 143(3)Section 148Section 132(4)Section 147Section 153C

Issues it is cited on

section 153c proceedingsshare capital and share premiumcreditworthiness of the creditorsource of sourceincome escaping assessmentborrowed satisfactionsection 250(4)genuineness of the transactionshare application moneyaddition u/s 68section 40(a)section 40(a)(ia)

Judgments citing Pavankumar M Sanghvi v. ITO

Deputy Commissioner of Income, Central Circle, Meerut vs. Dr. Jagat Narain Subharati Charitable Trust, Dehradun

ITA 2553/DEL/2024[2013-14]Status: DisposedITAT Delhi30 Jan 2026AY 2013-14

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

For Appellant: Sh. Kalrav Mehrotra, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr
Section 143(3)Section 148Section 68

…P a g e | 1 ITA Nos. 2552 & 2553/Del/2024 Dr. JagatNarainSubharti Charitable Trust (AYs: 2012-13 & 2013-14) IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 2552 & 2553/Del/2024 (Assessment Years: 2012-13 & 2013-14) DCIT, Central Circle Vs. Dr. Jagat Narain Subharti Aaykar Bhawan, Near Charitable Trust Bhainsali Ground, Nand Ki Chowki, Meerut, UP – 250001 AamWala Road, Kotra Santaur, Prem Nagar, Dehradun, Uttarakhand – 248007 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAFTS4572G Appellant .. Respondent Appellant b…

Deputy Commissioner of Income Tax, Central Circle, Meerut, Income Tax Office vs. Dr. Jagar Narain Subharti Charitable Trust, Dehradun

ITA 2552/DEL/2024[2012-13]Status: DisposedITAT Delhi30 Jan 2026AY 2012-13

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

For Appellant: Sh. Kalrav Mehrotra, AdvFor Respondent: Sh. Rajesh Kumar Dhanesta, Sr
Section 143(3)Section 148Section 68

…P a g e | 1 ITA Nos. 2552 & 2553/Del/2024 Dr. JagatNarainSubharti Charitable Trust (AYs: 2012-13 & 2013-14) IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 2552 & 2553/Del/2024 (Assessment Years: 2012-13 & 2013-14) DCIT, Central Circle Vs. Dr. Jagat Narain Subharti Aaykar Bhawan, Near Charitable Trust Bhainsali Ground, Nand Ki Chowki, Meerut, UP – 250001 AamWala Road, Kotra Santaur, Prem Nagar, Dehradun, Uttarakhand – 248007 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AAFTS4572G Appellant .. Respondent Appellant b…

Viraj Software Pvt. Ltd., Delhi vs. ITO, Ward-26(4), Delhi

Appeal is dismissed

ITA 1084/DEL/2025[2012-13]Status: DisposedITAT Delhi03 Dec 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2012-13 M/S. Viraj Software Pvt. Vs. Income Tax Officer, Ltd., Ward-26(4), 28, Raja Garden, New Delhi New Delhi Pan: Aaccv5229M (Appellant) (Respondent) Assessee By None Department By Ms. Ankush Kalra, Sr. Dr

Section 142(1)Section 143(1)Section 143(2)Section 144Section 147Section 148Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 M/s. Viraj Software Pvt. Vs. Income Tax Officer, Ltd., Ward-26(4), 28, Raja Garden, New Delhi New Delhi PAN: AACCV5229M (Appellant) (Respondent) Assessee by None Department by Ms. Ankush Kalra, Sr. DR Date of hearing 03.12.2025 Date of pronouncement 03.12.2025 ORDER PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre…

M/S Mool Raj Vijay Kumar, Kaushambi vs. Dy./ACIT(CC), Allahabad

In the result, the appeal of the assessee stands dismissed

ITA 39/ALLD/2023[2018-19]Status: DisposedITAT Allahabad25 Aug 2025AY 2018-19

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 133ASection 143(3)

…[2014] 221 Taxman 14 (Delhi) (d) [2021] 277 Taxman 594 (SC), Sadiq Sheikh vs. CIT Dismissing assessee’s SLP against [2020] 122 taxmann.com 39 (Bom.) (e) [2018] 258 Taxman 160 (SC), Pavankumar M. Sanghvi vs. Income Tax Officer, Dismissing SLP against [2018] 404 ITR 601 (Gujarat) (f) [2014] 221 Taxman 143 (Andhra Pradesh) (Mag.) Gayathri Associates vs. Income Tax Officer (g) Smt Puja Grover vs. ACIT (I.T.A. No.140/A/2024) order dated 20/03/2025 (h) [2015] 375 ITR 123 (Calcutta), CIT vs. Maithan International (i) — [2007] 291 ITR 278 (SC) CIT vs. P. Mohankala LT.A. No.39/Alld/2023 | Assessment Year:2018-19 J…

Pooja Grover, Allahabad vs. DCIT, Cir-2, Allahabad

In the result, the appeal of the assessee is partly allowed

ITA 140/ALLD/2024[2017-18]Status: DisposedITAT Allahabad20 Mar 2025AY 2017-18

Bench: Shri Subhash Malguria & Shri Nikhil Choudhary

Section 142(1)Section 143(2)Section 143(3)Section 234BSection 251Section 69A

…year 2016-17 to 2018-19. Learned D.R. relied on the following case laws: (i) [1995] 214 ITR 801 (SC) Sumati Dayal vs. CIT (ii) [2021] 277 Taxman 594 (SC), Sadiq Sheikh vs. CIT (iii) [2018] 258 Taxman 160 (SC), Pavankumar M. Sanghvi. Income Tax Officer [2018] 404 ITR 601 (Gujarat) (iv) [2014] 221 Taxman 143 (Andhra Pradesh), Gayatri Associates vs. Income Tax Officer (v) [2015] 375 ITR 123 (Calcutta) CIT vs. Maithan International (vi) [2007] 291 ITR 278 (SC) CIT vs. P. Mohanakala 7. We have heard the rival parties and have gone through the material placed on record. As regards the first creditor i.e. Shri Umang G…

Income Tax Officer, Ward 4(1), Raipur vs. Bhagyaarna Gems and Jewellery Private Limited, Kolkata

ITA 12/RPR/2021[2012-13]Status: DisposedITAT Raipur31 Jan 2025AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.12/Rpr/2021 "नधा"रण वष" / Assessment Year : 2012-13 The Income Tax Officer-4(1), Raipur (C.G.)

For Appellant: Shri Sunil Kumar Agrawal, CAFor Respondent: Dr. Priyanka Patel, Sr. DR &
Section 143(3)Section 250(4)Section 68

…the Ld. CIT(A) was justified in deleting the addition, thereby not considering and not distinguishing the findings of the AO which is well supported by the ratio of the judgment of Hon'ble Gujurat High Court in the case of Pavan kumar M Sanghvi Vs ITO (2018) 404 ITR 601 (Guj), wherein it is mentioned that it is also settled legal position that the onus of the assessee, of explaining nature and source of credit, does not get discharged merely by filing confirmatory letters, or demonstrating that the transactions are done through the banking channels or even by filing the income tax assessment particulars'?" 3 I…

Mili Marketing Pvt Ltd., New Delhi vs. ITO, Ward-16(4), New Delhi

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

ITA 2319/DEL/2023[2016-17]Status: DisposedITAT Delhi12 Dec 2024AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us[Assessment Year : 2016-17] M/S. Mili Marketing Pvt.Ltd., Vs Ito, H-108, Connaught Circus, Ward-16(4), New Delhi-110001. New Delhi. Pan-Aabcm7097H Appellant Respondent Appellant By Shri Ved Jain, Adv & Shri Aman Garg, Ca Respondent By Ms. Smita Singh, Sr.Dr Date Of Hearing 12.09.2024 Date Of Pronouncement 12.12.2024

Section 133(6)Section 143(3)Section 68

…ITA No.2319/Del/2023 Mili Marketing Pvt.Ltd. vs ITO IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “E” BENCH: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI YOGESH KUMAR US, JUDICIAL MEMBER [Assessment Year : 2016-17] M/s. Mili Marketing Pvt.Ltd., vs ITO, H-108, Connaught Circus, Ward-16(4), New Delhi-110001. New Delhi. PAN-AABCM7097H APPELLANT RESPONDENT Appellant by Shri Ved Jain, Adv & Shri Aman Garg, CA Respondent by Ms. Smita Singh, Sr.DR Date of Hearing 12.09.2024 Date of Pronouncement 12.12.2024 ORDER PER PRADIP KUMAR KEDIA-A.M.: The captioned appeal has been filed at the instance of the a…

Asg Capital Service Pvt Ltd(Now Known As M/S. Asg Capital Service LLP, Having PAN No. Abcfa2143B), Matunga S.O vs. ITO Circle-6(2)(1) Mumabi, Aaykar Bhavan

In the result, the appeals of the assessee in ITA Nos 2536, 2537 &

ITA 2542/MUM/2023[2014-2015]Status: DisposedITAT Mumbai28 Aug 2024AY 2014-2015

Bench: Shri Anikesh Banerjeeand Shri Gagan Goyal

For Appellant: Shri Nishit Gandhi, AdvocateFor Respondent: Shri Manoj Kumar Sinha (SR. DR)
Section 133(6)Section 143(3)Section 148Section 250Section 68

…Ld. DR pointed out that the lender parties are mentioned even in the said order. However, on a bare perusal of the same it is evident that in those cases the enquiries were left incomplete. 8.1.4. The order in the case of Pavankumar Sanghvi v/s ITO – (2018) 404 ITR 601 (Gujarat) is factually distinguishable due to this order turns on its own facts and merely affirms the findings of the Tribunal. 12 ITAs No.2536, 2537,2538 & 2542 /Mum/2023 ASG Capital Services Pvt Ltd 9. In our considered view, theordersrelied on by the ld. DR are factually distinguishable. The assessee repaid the loan & interest to the loan-cr…

Asg Capital Service Pvt Ltd(Now Known As M/S. Asg Capital Service LLP, Having PAN No. Abcfa2143B), Matunga S.O vs. ITO- Circle 6(1)(1), Aaykar Bhavan

In the result, the appeals of the assessee in ITA Nos 2536, 2537 &

ITA 2538/MUM/2023[2010-2011]Status: DisposedITAT Mumbai28 Aug 2024AY 2010-2011

Bench: Shri Anikesh Banerjeeand Shri Gagan Goyal

For Appellant: Shri Nishit Gandhi, AdvocateFor Respondent: Shri Manoj Kumar Sinha (SR. DR)
Section 133(6)Section 143(3)Section 148Section 250Section 68

…Ld. DR pointed out that the lender parties are mentioned even in the said order. However, on a bare perusal of the same it is evident that in those cases the enquiries were left incomplete. 8.1.4. The order in the case of Pavankumar Sanghvi v/s ITO – (2018) 404 ITR 601 (Gujarat) is factually distinguishable due to this order turns on its own facts and merely affirms the findings of the Tribunal. 12 ITAs No.2536, 2537,2538 & 2542 /Mum/2023 ASG Capital Services Pvt Ltd 9. In our considered view, theordersrelied on by the ld. DR are factually distinguishable. The assessee repaid the loan & interest to the loan-cr…

Asg Capital Service Pvt Ltd(Now Known As M/S. Asg Capital Service LLP, Having PAN No. Abcfa2143B), Matunga S.O vs. ITO- Circle 6(1)(1) Mumbai, Aaykar Bhavan

In the result, the appeals of the assessee in ITA Nos 2536, 2537 &

ITA 2536/MUM/2023[2014-15]Status: DisposedITAT Mumbai28 Aug 2024AY 2014-15

Bench: Shri Anikesh Banerjeeand Shri Gagan Goyal

For Appellant: Shri Nishit Gandhi, AdvocateFor Respondent: Shri Manoj Kumar Sinha (SR. DR)
Section 133(6)Section 143(3)Section 148Section 250Section 68

…Ld. DR pointed out that the lender parties are mentioned even in the said order. However, on a bare perusal of the same it is evident that in those cases the enquiries were left incomplete. 8.1.4. The order in the case of Pavankumar Sanghvi v/s ITO – (2018) 404 ITR 601 (Gujarat) is factually distinguishable due to this order turns on its own facts and merely affirms the findings of the Tribunal. 12 ITAs No.2536, 2537,2538 & 2542 /Mum/2023 ASG Capital Services Pvt Ltd 9. In our considered view, theordersrelied on by the ld. DR are factually distinguishable. The assessee repaid the loan & interest to the loan-cr…

M/S. Qns Castings Pvt. Ltd., Muzaffarnagar vs. ITO, Muzaffarnagar

In the result, the appeal of the assessee is dismissed

ITA 3554/DEL/2017[2012-13]Status: DisposedITAT Delhi26 Jul 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Avdhesh Kumar Mishra

Section 133(6)Section 143(3)Section 250(4)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER ITA No.3554/Del/2017, A.Y.2012-13 M/s. QNS Castings Pvt. ITO Ltd. Ward-2(2), 4th K.M.Stone, Vs. Muzaffarnagar Meerut Road, Muzaffar Nagar PAN: AAACQ2131R (Appellant) (Respondent) Appellant by None Respondent by Sh. Dharam Veer Singh, CIT-DR Date of Hearing 28/05/2024 Date of Pronouncement 26/07/2024 ORDER PER AVDHESH KUMAR MISHRA, AM This appeal of the Assessment Year [In short, the ‘AY’] 2012-13 preferred by the assessee is directed against the order dated 2…

DCIT, Circle-3(1), New Delhi vs. Artex Knitting Inds. P.Ltd, New Delhi

In the result, the appeal of Revenue is allowed for statistical purposes

ITA 647/DEL/2020[2016-17]Status: DisposedITAT Delhi22 May 2024AY 2016-17

Bench: Ms. Madhumita Roy & Shri Avdhesh Kumar Mishra

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’: NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER ITA No.647/Del/2020, A.Y. 2016-17 Deputy Commissioner of M/s. Artex Knitting Income Tax, Industries Pvt. Ltd. Circle -3(1), Vs. Khasra No. 902-290, New Delhi Khata Khatoni No. 13, Old Lal Dora Village, Shalimar Bagh, New Delhi-110 088 PAN : AALCA3377L (Appellant) (Respondent) Appellant by None Respondent by Sh. Kanv Bali, Sr.DR Date of Hearing 14/05/2024 Date of Pronouncement 22/05/2024 ORDER PER AVDHESH KUMAR MISHRA, AM This appeal of the Assessment Year […

M/S. Bmm Ispat Limited, Hospet vs. Assistant Commissioner of Income Tax, Circle-1(1)(2), Bangalore

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

ITA 381/BANG/2023[2016-17]Status: DisposedITAT Bangalore24 Jan 2024AY 2016-17

Bench: Shri George George K. & Shri Chandra Poojariassessment Year: 2016-17

For Appellant: Shri K.R. Pradeep & Ms. Giriji G.P., A.RsFor Respondent: Shri Senthil Kumar N., D.R
Section 115BSection 142(1)Section 143(2)Section 234BSection 250Section 68Section 92C

…of Toby Consultant (P) Ltd. Vs. CIT (2010) 324 ITR 338 3) Decision of the Hon’ble High Court of Delhi in the case of PCIT Vs. Bikram Singh (2017) 399 ITR 407. 4) Decision of the Hon’ble High Court of Gujarat in the case of Pawankumar M. Sanghvi Vs. ITO (2018) 404 ITR 601. 5) Decision of the Hon’ble High Court of Gauhati in the case of United Nemi Chand Kothari Vs. CIT & Anr. (2003) 264 ITR 254. 6) Decision of the Hon’ble Supreme Court of India in the case of Sumati Dayal Vs. CIT (1995) 214 ITR 801. 7) Decision of the Hon’ble High Court of Karnataka in the case of Kaveri Associates Vs. ACIT (ITA No.375 of 2013) (2…

Jaydeep Construction, Mumbai vs. PCIT-41, Mumbai

In the result, appeal filed by the assessee is dismissed with the above observations

ITA 2086/MUM/2023[2018-19]Status: HeardITAT Mumbai24 Nov 2023AY 2018-19

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blejaydeep Construction V. Pr. Cit -41 Shop No. 07/08, Patidar Complex Room No. 541, Kautilya Bhavan C-41 To C-43, G Block Kannamwar Nagar, Vikroli (E) Bandra Kurla Complex Mumbai – 400083 Bandra (E), Mumbai - 400051 Pan: Aaffj0346M (Appellant) (Respondent)

Section 143(3)Section 263Section 43CSection 54

…sessment proceedings, assessee has not submitted cogent evidences regarding source of fund to prove the identity, creditworthiness of the parties and genuineness of transactions based on the decision of Hon'ble Gujarat High Court in the case of Pavan Sanghvi (404 ITR 601) and other decisions of Hon’ble Supreme Court. In view of the above, he observed that assessment was completed in a routine and mechanical manner and hence he came to the conclusion that assessment order is "erroneous" as well as "prejudicial to the interest of the revenue" and covered by clause (a) of Explanation 2 of section 263 of the Act. 10…

Income Tax Officer, Ward 4(1), Raipur vs. Aviral Finance Private Limited, Raipur

In the result, appeal of Revenue is partly allowed for statistical purposes

ITA 13/RPR/2021[2017-18]Status: DisposedITAT Raipur22 Sept 2023AY 2017-18

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.13/Rpr/2021 िनधा"रण वष" /Assessment Year: 2017-18 V. Ito-4(1) Aviral Finance Pvt. Ltd. Raipur Ground Floor, Nalghar Chowk, Raipur – 492 001 [Pan: Aabcg 2701 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" की ओर से/ Appellant By Shri Praveen Khandelwal & Shri Praveen Goyal, Cas ""थ" की ओर से /Respondent By : Smt. Ila M. Parmar, Cit-D.R. सुनवाई क" तार"ख/Date Of Hearing : 13.07.2023 घोषणा क" तार"ख /Date Of Pronouncement : 22.09.2023

For Respondent: Smt. Ila M. Parmar, CIT-D.R
Section 143(3)Section 250(4)Section 68

…the Ld. CIT(A) was justified in deleting the addition, thereby not considering and not distinguishing the findings of the AO which is well supported by the ratio of the judgment of Hon'ble Gujurat High Court in the case of Pavan kumar M Sanghvi Vs ITO (2018) 404 ITR 601 (Guj), wherein it is mentioned that it is also settled legal position that the onus of the assessee, of explaining nature and source of credit, does not get discharged merely by filing confirmatory letters, or demonstrating that the transactions are done through the banking channels or even by filing the income tax assessment particulars' ?" 4. "…

Asus India Pvt Ltd., Mumbai vs. The Ld. Addl/Joint/Deputy/ACIT/ ITO, Delhi

In the result, appeal of the assessee is partly allowed

ITA 2427/MUM/2022[2018-19]Status: DisposedITAT Mumbai16 Aug 2023AY 2018-19

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Asus India Private Limited The Learned. 402, Supreme Chambers, Addl/Joint/Deputy/Acit/Ito 17-18 Shah Industrial Estate, Room No.305, Ara Centre 2-E Veera Desai Road, Vs. Jhandewalan Extn, New Delhi, Andheri (West), Delhi-110055 Mumbai-400 053 (Appellant) (Respondent) Pan No. Aajca6450C Assessee By : Mr. Vijay Mehta, Adv. Revenue By : Mr. Nihar Ranjan Samal, Sr. Ar Date Of Hearing: 19.05.2023 Date Of Pronouncement : 16.08.2023

For Appellant: Mr. Vijay Mehta, AdvFor Respondent: Mr. Nihar Ranjan Samal, Sr. AR
Section 115JSection 143Section 144BSection 144CSection 194Section 194CSection 194HSection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Asus India Private Limited The Learned. 402, Supreme Chambers, Addl/Joint/Deputy/ACIT/ITO 17-18 Shah Industrial Estate, Room No.305, Ara Centre 2-E Veera Desai Road, Vs. Jhandewalan Extn, New Delhi, Andheri (West), Delhi-110055 Mumbai-400 053 (Appellant) (Respondent) PAN No. AAJCA6450C Assessee by : Mr. Vijay Mehta, Adv. Revenue by : Mr. Nihar Ranjan Samal, Sr. AR Date of hearing: 19.05.2023 Date of pronouncement : 16.08.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. ITA number 2427/M/2022 is…

M/S Paradise Multiplex Cum Villas. Pvt. Ltd, Abohar vs. Income Tax Officer Ward-II(3), Abohar

In the result, the appeals of assessee bearing ITA No

ITA 138/ASR/2019[2009-10]Status: DisposedITAT Amritsar28 Apr 2023AY 2009-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 148Section 250(6)

…ssee does not discharge the burden of the appellant. Hon'ble Supreme court in the case of Pavan Kumar M. Sanghvi v. ITO [2018] 97 taxmann.com 398 (SC) dismissed the SLP of the appellant upholding decision of Hon'ble Gujrat High court [2018] 90 taxmann.com 386/404 ITR 601 (Guj.) holding that the assesseehas to satisfy the Assessing Officer about the creditworthiness of the lender namely Sh. Rajesh Babar (Rs. 5 lakhs) and Sunrise Educations & welfare Society (Rs. 25 lakhs). In this case, the appellant failed to discharge the onus of satisfying that the lenders are creditworthy and hence the Assessing Officer was ju…

M/S Paradies Multiplexs Cum Villas Pvt Ltd, Abhoar vs. Income Tax Officer Ward 2(3), Abohar

In the result, the appeals of assessee bearing ITA No

ITA 628/ASR/2018[2008-09]Status: DisposedITAT Amritsar28 Apr 2023AY 2008-09

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 148Section 250(6)

…ssee does not discharge the burden of the appellant. Hon'ble Supreme court in the case of Pavan Kumar M. Sanghvi v. ITO [2018] 97 taxmann.com 398 (SC) dismissed the SLP of the appellant upholding decision of Hon'ble Gujrat High court [2018] 90 taxmann.com 386/404 ITR 601 (Guj.) holding that the assesseehas to satisfy the Assessing Officer about the creditworthiness of the lender namely Sh. Rajesh Babar (Rs. 5 lakhs) and Sunrise Educations & welfare Society (Rs. 25 lakhs). In this case, the appellant failed to discharge the onus of satisfying that the lenders are creditworthy and hence the Assessing Officer was ju…

Income Tax Officer -32(2) (1), Mumbai vs. M/S. Kinjal Enterprises, Mumb

In the result, the appeal of the revenue stand dismissed

ITA 60/MUM/2022[2014-15]Status: DisposedITAT Mumbai13 Feb 2023AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhita Nos. 60/Mum/2022 Ita Nos. 2464/Mum/2021 (A.Ys. 2013-14 & 2014-15)

For Appellant: Soumendu Kumar DashFor Respondent: Shashank Mehta
Section 132Section 143(2)

…rect, as held by the Hon'ble Supreme Court in the case of Mehta Parikh & Co Vs CIT reported in 36 118-481 (SC). 6.7 With regard reliance placed by the ld. D.R on the decision of Hon'ble Gujarat High Court in the case of pavan kumar Sangthvi v. ITO reported in 404 ITR 601 (Gu). we find that in that case the assesse received loans from two companies who were found to be shell companies not doing any businesses and were maintaining minimum bank balances. Whereas in the instant case, there is no finding by the lower authorities, that the loan creditors are shall companies and all the loan creditors are engaged in the…

ITO 32(2)(1), Mumbai vs. Kinjal Enterprises, Mumbai

In the result, the appeal of the revenue stand dismissed

ITA 2464/MUM/2021[2013-14]Status: DisposedITAT Mumbai13 Feb 2023AY 2013-14

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhita Nos. 60/Mum/2022 Ita Nos. 2464/Mum/2021 (A.Ys. 2013-14 & 2014-15)

For Appellant: Soumendu Kumar DashFor Respondent: Shashank Mehta
Section 132Section 143(2)

…rect, as held by the Hon'ble Supreme Court in the case of Mehta Parikh & Co Vs CIT reported in 36 118-481 (SC). 6.7 With regard reliance placed by the ld. D.R on the decision of Hon'ble Gujarat High Court in the case of pavan kumar Sangthvi v. ITO reported in 404 ITR 601 (Gu). we find that in that case the assesse received loans from two companies who were found to be shell companies not doing any businesses and were maintaining minimum bank balances. Whereas in the instant case, there is no finding by the lower authorities, that the loan creditors are shall companies and all the loan creditors are engaged in the…