Pr. CIT v. Ami Industries (India) (P.) Ltd.

116 Taxmann.com 34High Court2020#2749 most cited

What is Pr. CIT v. Ami Industries (India) (P.) Ltd. authority for?

Under Section 68 of the Income-tax Act, the assessee discharges the onus by establishing the identity of the creditor, their creditworthiness, and the genuineness of the transaction, and is not required to exhaustively prove the "source of the source" beyond furnishing primary evidence.

43

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2020 to 2026.

Also referred to as

Pr. CIT v. Ami Industries · Section 68 · cash credit · onus of proof · identity creditworthiness genuineness · source of source · share capital · share premium · bogus share capital

Also reported as

424 ITR 219271 Taxmann 75

Sections most often in play

Section 68Section 143(3)Section 133(6)Section 131Section 142(1)Section 69CSection 133ASection 41(1)

Issues it is cited on

section 131(1)(d)onus of proofnav methodsource of sourceshare capital and share premiumbogus share capitaldcf methodthird party informationcreditworthiness of the creditorshell companypaper companyshare application money

Judgments citing Pr. CIT v. Ami Industries (India) (P.) Ltd.

ACIT, New Delhi vs. M/S. Bbn Transportation Pvt. Ltd., New Delhi

Appeals are dismissed in favour of the

ITA 6176/DEL/2013[2008-09]Status: DisposedITAT Delhi15 Jul 2021AY 2008-09
Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI (Through Video Conferencing) BEFORE, SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A No.6174/Del/2013 (ASSESSMENT YEAR 2009-10) Asst.CIT M/s Sur Buildcon Central Circle-13, Pvt. Ltd. New Delhi. Vs. 315, 3rd Floor E-Block International Trade Tower, Nehru Place New Delhi. PAN-AALCF 7467F (Appellant) (Respondent) C.O. No.258/Del/2015 Arising out of ITA No.6174/Del/2013 (ASSESSMENT YEAR 2009-10) M/s Sur Buildcon Pvt. Dy. CIT Ltd. Central Circle-13, 315, 3rd Floor Vs. New Delhi. E-Block Internati…

ACIT, New Delhi vs. M/S. Sur Buildcon Pvt. Ltd., New Delhi

Appeals are dismissed in favour of the

ITA 6174/DEL/2013[2009-10]Status: DisposedITAT Delhi15 Jul 2021AY 2009-10
Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’: NEW DELHI (Through Video Conferencing) BEFORE, SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A No.6174/Del/2013 (ASSESSMENT YEAR 2009-10) Asst.CIT M/s Sur Buildcon Central Circle-13, Pvt. Ltd. New Delhi. Vs. 315, 3rd Floor E-Block International Trade Tower, Nehru Place New Delhi. PAN-AALCF 7467F (Appellant) (Respondent) C.O. No.258/Del/2015 Arising out of ITA No.6174/Del/2013 (ASSESSMENT YEAR 2009-10) M/s Sur Buildcon Pvt. Dy. CIT Ltd. Central Circle-13, 315, 3rd Floor Vs. New Delhi. E-Block Internati…

Im.Media Pvt. Ltd. (Now Known As M/S.Saraswathi Media Pvt. Ltd.), Mumbai vs. ACIT Circle 16(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2907/MUM/2018[2007-08]Status: DisposedITAT Mumbai05 Mar 2020AY 2007-08

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2007-08 Assessment Year: 2008-09

For Appellant: Shri Vijay Mehta, A.RFor Respondent: Shri Awungshi Limson, D.R
Section 143(1)Section 147Section 148Section 148(2)Section 234BSection 234CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2007-08 Assessment Year: 2008-09 M/s. IM Media Pvt. ACIT Circle 16(1), Ltd. (Now known as Aayakar Bhavan, M/s. Saraswathi M.K. Road, Media Pvt. Ltd.), Vs. Mumbai - 400020 411, Embassy Centre, Nariman Point, Mumbai – 400 021 PAN: AABCI 6694L (Appellant) (Respondent) Present for: Assessee by : Shri Vijay Mehta, A.R. Shri Anuj Kisnadwala, A.R. Revenue by : Shri Awungshi Limson, D.R. Date of Hearing : 11.12.2019 Date of Pronouncement : 05.03.2020 O…