PCIT v. Bikram Singh

85 Taxmann.com 104High Court2017#1444 most cited

What is PCIT v. Bikram Singh authority for?

Under Section 68, for unexplained cash credits like loans or share application money, merely showing the transaction occurred through banking channels or providing the creditor's PAN/ID is insufficient to prove genuineness and creditworthiness; the assessee must furnish deeper evidence about the nature of the transaction and the source of funds.

79

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

PCIT v. Bikram Singh · Section 68 · unexplained cash credit · genuineness of transaction · creditworthiness of creditor · source of source · share application money · loan through banking channel · PAN card · ITR · accommodation entry · Section 115BBE

Also reported as

399 ITR 407

Sections most often in play

Section 68Section 147Section 148Section 153ASection 132Section 1961Section 115BBESection 132A
Read the full judgment

Issues it is cited on

source of sourcecreditworthiness of the creditoraddition u/s 68share application moneyaddition under section 68sundry creditorsgenuineness of the transactionsection 133(6)unexplained cash creditsection 68accommodation entrysection 115bb

Judgments citing PCIT v. Bikram Singh

Surya Agrotech Infrastructure Ltd, New Delhi vs. ACIT, Central Circle-8, New Delhi

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

ITA 1158/DEL/2019[2014-15]Status: DisposedITAT Delhi07 May 2019AY 2014-15

Bench: Shri Before Shri G.D. Agrawal, Before Shri Before Shri G.D. Agrawal, G.D. Agrawal, Vice G.D. Agrawal, Vice & And & Ms. Suchitra Kamble Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble

Section 37Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH DELHI DELHI BENCH BENCH ’G’: NEW DELHI BENCH : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, G.D. AGRAWAL, VICE G.D. AGRAWAL, VICE VICE PRESIDENT VICE PRESIDENT PRESIDENT AND PRESIDENT AND AND AND , JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE , JUDICIAL MEMBER , JUDICIAL MEMBER ITA No 1156/Del/2019 ITA ITA No No 1156/…

Surya Agrotech Infrastructure Ltd, New Delhi vs. ACIT, Central Circle-8, New Delhi

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

ITA 1157/DEL/2019[201`3-14]Status: DisposedITAT Delhi07 May 2019

Bench: Shri Before Shri G.D. Agrawal, Before Shri Before Shri G.D. Agrawal, G.D. Agrawal, Vice G.D. Agrawal, Vice & And & Ms. Suchitra Kamble Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble

Section 37Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH DELHI DELHI BENCH BENCH ’G’: NEW DELHI BENCH : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, G.D. AGRAWAL, VICE G.D. AGRAWAL, VICE VICE PRESIDENT VICE PRESIDENT PRESIDENT AND PRESIDENT AND AND AND , JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE , JUDICIAL MEMBER , JUDICIAL MEMBER ITA No 1156/Del/2019 ITA ITA No No 1156/…

Surya Processed Food Pvt. Ltd., New Delhi vs. ACIT, Central Circle-8, New Delhi

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

ITA 1156/DEL/2019[2013-14]Status: DisposedITAT Delhi07 May 2019AY 2013-14

Bench: Shri Before Shri G.D. Agrawal, Before Shri Before Shri G.D. Agrawal, G.D. Agrawal, Vice G.D. Agrawal, Vice & And & Ms. Suchitra Kamble Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble

Section 37Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH DELHI DELHI BENCH BENCH ’G’: NEW DELHI BENCH : NEW DELHI : NEW DELHI : NEW DELHI BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, BEFORE SHRI BEFORE SHRI G.D. AGRAWAL, G.D. AGRAWAL, VICE G.D. AGRAWAL, VICE VICE PRESIDENT VICE PRESIDENT PRESIDENT AND PRESIDENT AND AND AND , JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER MS. SUCHITRA KAMBLE MS. SUCHITRA KAMBLE , JUDICIAL MEMBER , JUDICIAL MEMBER ITA No 1156/Del/2019 ITA ITA No No 1156/…

Singhal Exim P.Ltyd, New Delhi vs. ITO, Ward-23(4), New Delhi

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

ITA 6520/DEL/2018[2014-15]Status: DisposedITAT Delhi12 Apr 2019AY 2014-15

Bench: Shri Before Shri G.D. Agrawal, Before Shri Before Shri G.D. Agrawal, G.D. Agrawal, Vice G.D. Agrawal, Vice & And & Ms. Suchitra Kamble Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble

For Appellant: Shri S.R. WadhwaFor Respondent: Shri S.S. Rana, CIT-DR
Section 131(1)Section 68

…9. Sumati Dayal Vs. CIT – SC 1995 AIR 2009 (SC). 10. CIT Vs. Durga Prasad More – 82 ITR 540 (SC). 11. CIT Vs. O. Mohankala – 291 ITR 287. 12. Pratham Telecom India Pvt.Ltd. Vs. DCIT – 2018-TIOL-1983-HC- MUM-IT. 6 ITA-6520/Del/2018 13. PCIT Vs. Bikram Singh 399 ITR 407 (Delhi). 6. In the rejoinder, it is stated by the learned counsel that none of the decisions relied upon by learned DR would be applicable because in this case, it is not in fact a credit at all but it is the recovery of the sale consideration of the goods sold by the assessee. 7. We have carefully considered the arguments of both the sides and…

Accil Corporation P.Ltd, New Delhi vs. ACIT, Central Circle-29, New Delhi

In the result the appeal of the assessee deserves to be allowed for statistical purposes

ITA 6319/DEL/2018[2012-13]Status: DisposedITAT Delhi28 Feb 2019AY 2012-13

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Section 153A

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘A’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 6319 to 6321 & 6206/Del/2018 Assessment Years: 2012-13 to 2015-16 M/s. ACCIL Corporation P. Ltd., vs. ACIT, Central Circle-29 Plot No. 1, Sahkar Circle, Sardar New Delhi. Patel Marg, Bais Godam, Jaipur. PAN – AABCB 1885C (Appellant) (Respondent) ITA Nos. 6207 to 6208 and 6317 to 6318/Del/2018 Assessment Years: 2013-14 to 2016-17 M/s. ACCIL Auto Steels Pvt. Ltd., 405, vs. ACIT, Central Circle-29 Nirmal Tower, 26, Barakhambha New Delhi. Road, Connaught Plac…

DCIT, New Delhi vs. M/S. Mahesh Wood Products (P) Ltd., New Delhi

In the result, the ITA No

ITA 4875/DEL/2014[2010-11]Status: DisposedITAT Delhi21 Feb 2019AY 2010-11

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishi

Section 132Section 132(4)Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 4873 TO 4875/Del/2014 Assessment Years: 2008-09 to 2010-11 DCIT, CENTRAL CIRCLE-03, Vs. M/S MAHESH WOOD PRODUCTS ROOM NO. 355, 3RD FLOOR, (P) LTD., JHANDEWALAN EXTENSION, A-121, ASHOK VIHAR, NEW DELHI – 110 055 PHASE-1, NEW DELHI (PAN AAACM0118Q) (Appellant) (Respondent) Department by Ms. Pramita M. Biswas, CIT(DR) Assessee by Sh. S.K. Gupta, CA ORDER PER H.S. SIHU, JM These 03 appeals are filed by the Revenue against the respective Orders passed by…

DCIT, New Delhi vs. M/S. Mahesh Wood Products (P) Ltd., New Delhi

In the result, the ITA No

ITA 4874/DEL/2014[2009-10]Status: DisposedITAT Delhi21 Feb 2019AY 2009-10

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishi

Section 132Section 132(4)Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 4873 TO 4875/Del/2014 Assessment Years: 2008-09 to 2010-11 DCIT, CENTRAL CIRCLE-03, Vs. M/S MAHESH WOOD PRODUCTS ROOM NO. 355, 3RD FLOOR, (P) LTD., JHANDEWALAN EXTENSION, A-121, ASHOK VIHAR, NEW DELHI – 110 055 PHASE-1, NEW DELHI (PAN AAACM0118Q) (Appellant) (Respondent) Department by Ms. Pramita M. Biswas, CIT(DR) Assessee by Sh. S.K. Gupta, CA ORDER PER H.S. SIHU, JM These 03 appeals are filed by the Revenue against the respective Orders passed by…

DCIT, New Delhi vs. M/S. Mahesh Wood Products (P) Ltd., New Delhi

In the result, the ITA No

ITA 4873/DEL/2014[2008-09]Status: DisposedITAT Delhi21 Feb 2019AY 2008-09

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishi

Section 132Section 132(4)Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA No. 4873 TO 4875/Del/2014 Assessment Years: 2008-09 to 2010-11 DCIT, CENTRAL CIRCLE-03, Vs. M/S MAHESH WOOD PRODUCTS ROOM NO. 355, 3RD FLOOR, (P) LTD., JHANDEWALAN EXTENSION, A-121, ASHOK VIHAR, NEW DELHI – 110 055 PHASE-1, NEW DELHI (PAN AAACM0118Q) (Appellant) (Respondent) Department by Ms. Pramita M. Biswas, CIT(DR) Assessee by Sh. S.K. Gupta, CA ORDER PER H.S. SIHU, JM These 03 appeals are filed by the Revenue against the respective Orders passed by…

Pushp Steels & Mining (P) Ltd., Delhi vs. ITO, Ward- 20(2), New Delhi

In the result, the Appeal filed by the Assessee stands allowed

ITA 6094/DEL/2018[2008-09]Status: DisposedITAT Delhi07 Feb 2019AY 2008-09

Bench: Shri H.S. Sidhu & Shri L.P. Sahuassessment Year : 2008-09

For Appellant: Sh. Suresh Kumar Gupta, CAFor Respondent: Smt. Sulekha Verma, CIT(DR) &
Section 143(3)Section 147Section 153(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER Assessment Year : 2008-09 PUSHP STEELS & MINING (P) LTD. Vs. ITO, WARD 20(2), 751, KUNDEWALAN STREET, NEW DELHI AJMERI GATE, DELHI – 110 006 (PAN: AADCP2925K) (Assessee) (Respondent) Assessee by : Sh. Suresh Kumar Gupta, CA Department by : Smt. Sulekha Verma, CIT(DR) & Sh. Surender Pal, Sr. DR. ORDER PER L.P. SAHU, AM This appeal filed by the assessee is directed against the order passed by the Ld. CIT(A)-7, New Delhi on 12.09.2018 in relation to the assessment yea…

Sh. Amit Tyagi, Ghaziabad vs. DCIT, Ghaziabad

ITA 5690/DEL/2015[2012-13]Status: DisposedITAT Delhi18 Dec 2018AY 2012-13

Bench: Shri G.D.Agarwal & Shri K.Narasimha Charyassessment Year: 2012-13 Amit Tyagi, Dy. Commissioner Of Income-Tax, K.No.59, Village Yusuf Pur, Circle -1, Ghaziabad. Delhi Meerut Road, Modinagar. Ghaziabad. Pan: Afupt2060A Assessee By Shri S.K. Tandon, Fca Revenue By Ms Rinku Singh, Sr. Dr

Section 133(6)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI G.D.AGARWAL, VICE PRESIDENT & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER Assessment Year: 2012-13 Amit Tyagi, Dy. Commissioner of Income-tax, K.No.59, Village Yusuf Pur, Circle -1, Ghaziabad. Delhi Meerut Road, Modinagar. Ghaziabad. PAN: AFUPT2060A Assessee by Shri S.K. Tandon, FCA Revenue by Ms Rinku Singh, Sr. DR Date of Hearing 13/12/2018 Date of Pronouncement 18/12/2018 ORDER PER K NARASIMHA CHARY, JM Aggrieved by the order dated 21st August, 2015 in Appeal No. 56/331/2014-15/GZB, passed by the learned Commissioner of Income Tax (Appea…

Shekhar S. Dadarkar, Mumbai vs. DCIT 24(3), Mumbai

In the result, the appeal is partly allowed

ITA 5255/MUM/2016[2008-09]Status: DisposedITAT Mumbai23 Aug 2018AY 2008-09

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2008-09 Mr. Shekhar Dadarkar Cit-24, Bandra Kurla Prop. M/S S.D. Construction Vs. Complex, Bandra (E), Geetanjali Chs Ltd., Plot Mumbai-400050. No. 11, Shastri Nagar, Goregaon (W), Mumbai- 400104. Pan No. Adapd8694G Appellant Respondent Assessment Year: 2008-09 Mr. Shekhar Dadarkar Dcit-24 Bandra Kurla Prop. M/S S.D. Construction Vs. (E), Mumbai-400050. Geetanjali Chs Ltd., Plot No. 11, Shastri Nagar, Goregaon (W), Mumbai- 400104. Pan No. Adapd8694G Appellant Respondent Assessee By : Mr. Sunil A. Desai, Ar Revenue By : Mr. Manjunatha Swamy, Cit-Dr Date Of Hearing : 31 /05/2018 Date Of Pronouncement: 23/08/2018

For Appellant: Mr. Sunil A. Desai, ARFor Respondent: Mr. Manjunatha Swamy, CIT-DR
Section 133(6)Section 143(3)Section 251Section 263Section 271B

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI JOGINDER SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2008-09 Mr. Shekhar Dadarkar CIT-24, Bandra Kurla Prop. M/s S.D. Construction Vs. Complex, Bandra (E), Geetanjali CHS Ltd., Plot Mumbai-400050. No. 11, Shastri Nagar, Goregaon (W), Mumbai- 400104. PAN No. ADAPD8694G Appellant Respondent Assessment Year: 2008-09 Mr. Shekhar Dadarkar DCIT-24 Bandra Kurla Prop. M/s S.D. Construction Vs. (E), Mumbai-400050. Geetanjali CHS Ltd., Plot No. 11, Shastri Nagar, Goregaon (W), Mumbai- 400104. PAN No. ADAPD8694G…

M/S Patidar Hospital & Research Centre, Ujjain vs. The ITO 2(1), Ujjain

In the result, ITA No.1007/Ind/2016 is partly allowed, is allowed and ITA

ITA 1541/IND/2016[2010-11]Status: DisposedITAT Indore20 Aug 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Borad

Section 143(3)Section 251Section 251(1)(a)Section 251(2)Section 40Section 80I

…आयकर अपील"य अ"धकरण, इ"दौर "यायपीठ, इ"दौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCHE, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA No.1007, 1008 & 1541/Ind/2016 Assessment Year: 2010-11,2012-13&2010-11 M/s. Patidar Hospital & ITO-2(1), Research Centre Ujjain बनाम/ 12-13,Kshapnak Mark, Freeganj (M.P.) Vs. Ujjain (M.P.) (Revenue ) (Appellant) P.A. No.AAJFP1661R Appellant by Shri Ashish Goyal & Shri N.D. Patwa, A.Rs Respondent by Shri R.P. Mourya, DR Date of Hearing: 26.07.2018 Date of Pronouncement: 21.08.2018 आदेश / O R D E R PER KUL BHARAT, J.M: These t…

M/S. Patidar Hospital & Research Centre, Ujjain vs. The ITO 2(1), Ujjain

In the result, ITA No.1007/Ind/2016 is partly allowed, is allowed and ITA

ITA 1008/IND/2016[2012-13]Status: DisposedITAT Indore20 Aug 2018AY 2012-13

Bench: Shri Kul Bharat & Shri Manish Borad

Section 143(3)Section 251Section 251(1)(a)Section 251(2)Section 40Section 80I

…आयकर अपील"य अ"धकरण, इ"दौर "यायपीठ, इ"दौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCHE, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA No.1007, 1008 & 1541/Ind/2016 Assessment Year: 2010-11,2012-13&2010-11 M/s. Patidar Hospital & ITO-2(1), Research Centre Ujjain बनाम/ 12-13,Kshapnak Mark, Freeganj (M.P.) Vs. Ujjain (M.P.) (Revenue ) (Appellant) P.A. No.AAJFP1661R Appellant by Shri Ashish Goyal & Shri N.D. Patwa, A.Rs Respondent by Shri R.P. Mourya, DR Date of Hearing: 26.07.2018 Date of Pronouncement: 21.08.2018 आदेश / O R D E R PER KUL BHARAT, J.M: These t…

M/S. Patidar Hospital & Research Centre, Ujjain vs. The ITO 2(1), Ujjain

In the result, ITA No.1007/Ind/2016 is partly allowed, is allowed and ITA

ITA 1007/IND/2016[2010-11]Status: DisposedITAT Indore20 Aug 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Borad

Section 143(3)Section 251Section 251(1)(a)Section 251(2)Section 40Section 80I

…आयकर अपील"य अ"धकरण, इ"दौर "यायपीठ, इ"दौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCHE, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER ITA No.1007, 1008 & 1541/Ind/2016 Assessment Year: 2010-11,2012-13&2010-11 M/s. Patidar Hospital & ITO-2(1), Research Centre Ujjain बनाम/ 12-13,Kshapnak Mark, Freeganj (M.P.) Vs. Ujjain (M.P.) (Revenue ) (Appellant) P.A. No.AAJFP1661R Appellant by Shri Ashish Goyal & Shri N.D. Patwa, A.Rs Respondent by Shri R.P. Mourya, DR Date of Hearing: 26.07.2018 Date of Pronouncement: 21.08.2018 आदेश / O R D E R PER KUL BHARAT, J.M: These t…

Shri Ramesh Kumar Pabbi, New Delhi vs. ACIT, New Delhi

In the result the appeal of the assessee is allowed

ITA 5594/DEL/2014[2010-11]Status: DisposedITAT Delhi01 Aug 2018AY 2010-11

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

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI BEFORE SH. BHAVNESH SAINI, JUDICIAL MEMBER AND SH. L. P. SAHU, ACCOUNTANT MEMBER Assessment Year: 2010-11 Ramesh Kumar Pabbi ACIT Prop. of M/s. S. L. Enterprises Circle -38 (1) Vs A-41, Phase-II, Mayapuri New Delhi Industrial Area, New Delhi PAN AANPP5995Q (APPELLANT) (RESPONDENT) Appellant by Sh. Gautam Jain, Advocate Sh. Lalit Mohan, CA Respondent by Sh. S. R. Senapati, Sr DR Date of hearing: 20/07/2018 Date of Pronouncement: 01/08/2018 ORDER PER BHAVNESH SAINI, JM: This appeal by the assessee has been directed against the order of Ld.…

Pratik Syntex P.Ltd, Mumbai vs. ITO 13(1)(4), Mumbai

In the result , appeal of the assessee is dismissed

ITA 6690/MUM/2016[2012-13]Status: DisposedITAT Mumbai11 May 2018AY 2012-13

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6690/Mum/2016 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ M/S. Pratik Syntex Private Ito 13(1)(4), Mumbai Ltd.,A-51, Rustomji Adarsh Heritage, Adarsh Vihar V. Complex, Opp. Marve Road, Malad (W), Mumbai 400064 स्थायी ऱेखा सं./ Pan : Aaecp3487H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Haresh P. ShahFor Respondent: Shri Rajat Mittal (DR)
Section 143(3)

…आयकर अपीऱीय अधिकरण “C” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI C.N PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6690/Mum/2016 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ M/s. Pratik Syntex Private ITO 13(1)(4), Mumbai Ltd.,A-51, Rustomji Adarsh Heritage, Adarsh Vihar v. Complex, Opp. Marve Road, Malad (W), Mumbai 400064 स्थायी ऱेखा सं./ PAN : AAECP3487H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee by: Shri Haresh P. Shah Revenue by : Shri Rajat Mittal (DR) सुनवाई की तारीख /Date of Hearing : 01.05.2018…

Pitti Electrical Equipment Private Limited, Hyderabad vs. ITO, Ward-16(4), Hyderabad

In the result, Revenue’s appeal is partly allowed and the assessee’s appeal is allowed for statistical purposes

ITA 1690/HYD/2016[2012-13]Status: DisposedITAT Hyderabad11 Apr 2018AY 2012-13

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiahm/S. Pitti Electrical Vs Income Tax Officer Equipment Private Ltd Ward 16 ( 4 ) Hyderabad Hyderabad Pan: Aaccp8334P (Appellant) (Respondent) Dy. Commissioner Of Vs M/S. Pitti Electrical Equipment Income Tax, Circle 16(2) Private Ltd Hyderabad Hyderabad Pan: Aaccp8334P (Appellant) (Respondent)

For Appellant: Shri Laxmi Nivas SharmaFor Respondent: Smt. N. Swapna, DR
Section 133Section 143(3)Section 14ASection 40A(2)(b)Section 68

…Pitti Electrical Equipment Pvt Ltd Hyderabad. following decisions to contend that all the three conditions of section 68 have to be fulfilled for deleting the addition: 1. Hon'ble Delhi High Court in the case of Pr.CIT-7 vs. Bikram Singh reported in (2017) 399 ITR 407. 2. Hon'ble Delhi High Court in the case of CIT vs. Nova Promoters & Finlease (P) Ltd reported in (2012) 342 ITR 169. 3. Hon'ble Delhi High Court in the case of CIT vs. Navodaya Castles (P) Ltd reported in (2014) 367 ITR 306. 4. Hon'ble High Court of Calcutta in the case of Rajmandir Estates (P) Ltd vs. Pr. CIT reported in (2016) 386 ITR 162 (Cal…

JCIT, Noida vs. M/S. Sardar Patel Institute of Management Society, Greater Noida

In the result all the grounds of the appeal of the revenue are allowed with above direction

ITA 5499/DEL/2013[2008-09]Status: DisposedITAT Delhi13 Dec 2017AY 2008-09

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri BK Anand, CAFor Respondent: Shri Kaushlendra Tiwari, Sr. DR
Section 11Section 68

…e us are quite different. Further holding that the transactions have been entered through banking channel and the assessee is not required to prove “source of the source” of the deposit by the lender, we have recent decision of the Hon‟ble Delhi High Court in 85 Taxmann.com 104 wherein Hon‟ble high court has dealt with identical issue as under:- JCIT Vs. Sardar Patel Institute of Management Society ITA No. 5124 & 5499/Del/2013 (Assessment Year: 2008-09) “41. An analysis of the above facts shows that none of these four individuals have the financial strength to lend such huge sums of money to the Assessee, that t…

JCIT, Noida vs. M/S. Sardar Patel Institute of Management Society, Greater Noida

In the result all the grounds of the appeal of the revenue are allowed with above direction

ITA 5124/DEL/2013[2008-09]Status: DisposedITAT Delhi13 Dec 2017AY 2008-09

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri BK Anand, CAFor Respondent: Shri Kaushlendra Tiwari, Sr. DR
Section 11Section 68

…e us are quite different. Further holding that the transactions have been entered through banking channel and the assessee is not required to prove “source of the source” of the deposit by the lender, we have recent decision of the Hon‟ble Delhi High Court in 85 Taxmann.com 104 wherein Hon‟ble high court has dealt with identical issue as under:- JCIT Vs. Sardar Patel Institute of Management Society ITA No. 5124 & 5499/Del/2013 (Assessment Year: 2008-09) “41. An analysis of the above facts shows that none of these four individuals have the financial strength to lend such huge sums of money to the Assessee, that t…