Principal Commissioner of Income-tax v. Agson Global (P.) Ltd.

441 ITR 550High Court2022#1316 most cited

What is Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. authority for?

When an assessee maintains proper books of accounts without defects, cash deposits made into a bank account from the available cash balance recorded in the cash book cannot be treated as unexplained cash credits under Section 68 or unexplained money under Section 69A of the Act.

87

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2022 to 2026.

Also referred to as

Principal Commissioner of Income-tax v. Agson Global (P.) Ltd. · 441 ITR 550 · Section 68 · Section 69A · cash deposits · cash book balance · defective books · unexplained money · genuineness of transaction · preponderance of probability · Delhi High Court

Sections most often in play

Section 68Section 143(3)Section 115BBESection 142(1)Section 132Section 250Section 143(2)Section 145(3)

Issues it is cited on

nav methodsection 131(1)section 269stdcf methodsection 56(2)(viib)strategic investmentvaluation of sharessource of sourceshell companypreponderance of probabilitysection 246share application money

Judgments citing Principal Commissioner of Income-tax v. Agson Global (P.) Ltd.

ACIT, Circle-18(2), New Delhi vs. Niit Technologies Ltd., New Delhi

In the result, appeal of the Revenue in ITA No

ITA 3559/DEL/2018[2013-14]Status: DisposedITAT Delhi29 Apr 2025AY 2013-14

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

Section 132Section 139(1)Section 143(2)Section 148Section 37Section 41Section 68Section 69Section 69ASection 69C

…] 104 taxmann.com 371 (Allahabad)/[2019] 263 Taxman 30 (Allahabad)[15-03-2019]. [Refer Page No. 311-315 of Case Law PB] iv. Principal Commissioner of Income-tax vs. Agson Global (P.) Ltd. [2022] 134 taxmann.com 256 (Delhi)/[2022] 286 Taxman 519 (Delhi)/[2022] 441 ITR 550 (Delhi)[19-01-2022]. [Refer Page No. 316-341 of Case Law PB] v. Principal Commissioner of Income-tax (Central) vs. K.R. Pulp and Papers Ltd. [2025] 175 taxmann.com 278 (Delhi)[31-05-2025]. [Refer Page No. 342-354 of Case Law PB] vi. [2024] 162 taxmann.com 792 (Allahabad) – PCIT v. Anshika Consultants (P.) Ltd., Allahabad HC, ITA No. 32/2024, 25-…

Manojbhai Arvindbhai Parekh, Rajkot vs. Assistant Commissioner of Income Tax, Circle - 2(1), Rajkot

In the result, appeal filed by the assessee, is partly allowed in above terms

ITA 385/RJT/2023[2017-18]Status: DisposedITAT Rajkot27 Feb 2025AY 2017-18

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 385 /Rjt/2023 ("नधा"रण वष"/Assessment Year: (2017-18) Manojbhai Arvindbhai Parekh The Acit Of I. T. Circle – 2(1), Shreeji Giriraj Trading, 19-Giriraj Vs. Rajkot – 360001 Chamber, Old Gadhiwas Soni Bazar, Rajkot – 360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acypp1471C (अपीलाथ"/Assessee) (""यथ"/Respondent)

For Appellant: Shri Chetan Agarwal, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr.DR
Section 115BSection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 68

…आयकर अपील"य अ"धकरण,राजकोट "यायपीठ, राजकोट। IN THE INCOMETAXAPPELLATE TRIBUNAL,RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER And SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA No. 385 /RJT/2023 ("नधा"रण वष"/Assessment Year: (2017-18) Manojbhai Arvindbhai Parekh The ACIT of I. T. Circle – 2(1), Shreeji Giriraj Trading, 19-Giriraj Vs. Rajkot – 360001 Chamber, Old Gadhiwas Soni Bazar, Rajkot – 360001 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: ACYPP1471C (अपीलाथ"/Assessee) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee by : Shri Chetan Agarwal, Ld. AR व क" ""यथ" ओर से/Respondent by : Shri Abh…

Kiran Fine Jewellers Private Limited, Jaipur vs. Deputy Commissioner of Income Tax, Central Circle-2, Jaipur

In the result ground no 2 raised by the assessee is allowed

ITA 648/JPR/2024[2017-18]Status: DisposedITAT Jaipur25 Feb 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. S. R. Sharma, CA &For Respondent: Sh. P. P. Meena, CIT-Th. V.H
Section 115BSection 143(3)Section 145(3)Section 68Section 69A

…d (ITAT Delhi) (j) ACIT Vs Hirapanna Jewellers (189 ITD 608) (Vishakhapatnam Bench) (k) Smt. Charu Aggarwal Vs CIT (140 taxmann.com 588) (Chandigarh Trib.) (l) Anantapur Kalpana Vs ITO (130 taxmann.com 141) (Bangalore Trib.) (m) PCIT Vs Agson Global Pvt. Ltd (441 ITR 550) (Delhi High Court) Thus, it is submitted that allegations made by learned A.O. regarding fabrication of cash sales transactions on the assessee are completely without any basis, documents or any supporting legal evidence in the eyes of law and, therefore addition of Rs. 22,02,58,445/- to the income of appellant as unexplained cash credit u/s 68…

Gopal & Sons HUF, Kolkata vs. I.T.O., Ward - 32(1), Kolkata

The appeal of the revenue is dismissed

ITA 1701/KOL/2024[2006-2007]Status: DisposedITAT Kolkata08 Jan 2025AY 2006-2007

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri Manish Rastogi, ARFor Respondent: Shri Pankaj Pandey, DR
Section 115JSection 132Section 147Section 148Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA Nos.1595, 1596, 1597, 1598/KOL/2025 (Assessment Years: 2015-16, 2016-17, 2017-18, 2018-19) Balmukund Sponge and Iron DCIT Private Limited 110, Shantipally, LUV Kush Tower, Vs. Kolkata-700107, West Bengal Exhibition Road, Phulwari, Patna-800001, Bihar (Appellant) (Respondent) PAN No. AACCM4451E ITA Nos. 1395, 1396, 1397, 1398/KOL/2025 (Assessment Year: 2015-16, 2017-18, 2018-19, 2023-24) Balmukund Sponge and Iron Private Limited DCIT LUV Kush Tower, 110, Shantipally, Vs. Exhibition Road, Phulw…

Jitender Kumar, New Delhi vs. ITO Ward-32(4), New Delhi

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

ITA 3317/DEL/2023[2011-12]Status: DisposedITAT Delhi03 Jan 2025AY 2011-12

Bench: Ms. Madhumita Roy & Shri Brajesh Kumar Singh[Assessment Year 2017-18] Assistant Commissioner Of Viney Gems & Jewellery Private Income Tax, Circle-25(1), Limited, Room No.192A, 1St Floor, Vs B-172, Lok Vihar, Pitampura, C.R. Building, Delhi-110002 Delhi-110034 Pan-Aafca9381G Revenue Assessee Assessee By Shri Baldev Raj, Ca & Shri Maneesh Upneja, Ca Revenue By Shri Sujit Kumar, Cit-Dr Date Of Hearing 23.04.2024 Date Of Pronouncement 20.06.2025

Section 206Section 68

…. 5. The ld. DR relied upon the order of the Assessing Officer. 6. The Ld. AR supported the order of the Ld. CIT(A) and also relied upon the decision of the Hon’ble Delhi High Court in the case of Pr. Commissioner of Income Tax vs M/S. Agson Global Pvt. Ltd 441 ITR 550 (Del.) and submitted that the order of the Ld. CIT(A) may be confirmed. 7. We have considered the rival submissions and perused the materials available on record. The Assessing Officer has disputed the so- called cash sales receipts of Rs.2,95,78,312/- claimed to be sales of gold jewellery by the assessee. According to the Assessing Officer, the…

DCIT, Central Circle-II, Noida vs. Nagpal Fabrics Pvt. Ltd., Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1596/DEL/2024[2021-22]Status: DisposedITAT Delhi18 Dec 2024AY 2021-22

Bench: Shri Pradip Kumar Kedia & Shri Vimal Kumar[Assessment Year : 2021-22] Dcit Vs Nagpal Fabrics Pvt.Ltd. Central Circle-Ii 697 Katra Neel Chandni Noida. Chowk, New Delhi-110006. Pan-Aabcn9620F Appellant Respondent Appellant By Shri Amit Shukla, Sr. Dr Respondent By Shri Akhilesh Kumar, Adv. & Shri Govind Agarwal, Ca Date Of Hearing 21.10.2024 Date Of Pronouncement 18.12.2024

…n account of sales of the stock cannot be held to be 'unexplained money' and, as such, the addition of Rs. 1,46,84,779/- is devoid of any valid reason". The Hon'ble High Court of Delhi in the case of Principal CIT vs. Agson Global Pvt. Ltd. reported at [2022] 441 ITR 550 has held as under: "Assessee-company was engaged in business of selling dry fruits post- demonetization, assessee deposited cash amounting to Rs. 180.53 crore in its bank accounts - Assessing Officer held that cash deposits made by assessee represented unaccounted Income and accordingly, made additions Tribunal analyzed data pertaining to cash sa…

Tack Exim Pvt. Ltd., Kanpur vs. ACIT Circle2(3)(1), Kanpur

The appeal of the assessee stands allowed

ITA 324/LKW/2024[2017-18]Status: DisposedITAT Lucknow29 Nov 2024AY 2017-18

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2017-18 Tack Exim Pvt. Limited V. Asstt. Commissioner Of 11/18-A, Pokharpur Income Tax, Jajmau, Kanpur Circle 2(3)(1), Kanpur Tan/Pan:Aadct7929D (Appellant) (Respondent) Appellant By: Shri Rakesh Garg, Advocate Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 02 09 2024 Date Of Pronouncement: 29 11 2024 O R D E R

For Appellant: Shri Rakesh Garg, AdvocateFor Respondent: Shri Sanjeev Krishna Sharma, D.R
Section 115BSection 143(2)Section 143(3)Section 144Section 271ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI NIKHIL CHOUDHARY, ACCOUNTANT MEMBER Assessment Year: 2017-18 Tack Exim Pvt. Limited v. Asstt. Commissioner of 11/18-A, Pokharpur Income Tax, Jajmau, Kanpur Circle 2(3)(1), Kanpur TAN/PAN:AADCT7929D (Appellant) (Respondent) Appellant by: Shri Rakesh Garg, Advocate Respondent by: Shri Sanjeev Krishna Sharma, D.R. Date of hearing: 02 09 2024 Date of pronouncement: 29 11 2024 O R D E R PER SUDHANSHU SRIVASTAVA, J.M.: This appeal has been preferred by the assessee against the order dated 09.0…

Shri Prem Industries, Bharatpur vs. Income Tax Officer Ward-1, Bharatpur

The appeal is disposed of, and the matter is remanded to

ITA 877/JPR/2024[2018-19]Status: DisposedITAT Jaipur29 Nov 2024AY 2018-19

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

For Appellant: Shri Rajendra Agarwal, CAFor Respondent: Shri Anup Singh, Addl. CIT
Section 144BSection 147Section 271ASection 69CSection 70

…AMAN INTERNATIONAL PVT. LTD. (BOM- HC) 422 ITR 520. The facts of this case is entirely different than that of present case as discussed in para 4.2.4. 4.2.6 The assessee further relied upon the decision in the case of Pr. CIT v. Agson Global (P) Ltd. (Del-HC) 441 ITR 550. The facts of this case is also entirely different than that of present case as discussed in para 4.2.4. 11 Shri Prem Industries vs. ITO 4.2.7. Similar is the case with the other decisions relied upon by the assessec. 4.3 Conclusion drawn- From the above discussion, it is ample clear that the assessee failed to establish genuineness of the tr…

Kamlesh Kampani, New Delhi vs. ITO Ward 50(1), New Delhi

In the result, appeal filed by the assessee is allowed

ITA 1465/DEL/2024[2017-18]Status: DisposedITAT Delhi21 Nov 2024AY 2017-18

Bench: Shri Shamim Yahya, A.Yr. : 2017-18 Kamlesh Kampani, Vs. Ito, Ward 50(1), C/O Kapil Goel, Civic Centre, F-26/124, Sector-7, Minto Road, Rohini, New Delhi – 2 Delhi – 110 085 (Pan: Bpgpk1921J) (Appellant) (Respondent)

For Appellant: Shri Kapil Goel, AdvFor Respondent: Shri Sanjay Kumar, Sr. DR
Section 115BSection 143(2)Section 143(3)Section 250Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”, NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER, A.YR. : 2017-18 KAMLESH KAMPANI, VS. ITO, WARD 50(1), C/O KAPIL GOEL, CIVIC CENTRE, F-26/124, SECTOR-7, MINTO ROAD, ROHINI, NEW DELHI – 2 DELHI – 110 085 (PAN: BPGPK1921J) (APPELLANT) (RESPONDENT) Appellant by : Shri Kapil Goel, Adv. Respondent by : Shri Sanjay Kumar, Sr. DR. Date of hearing : 12.11.2024 Date of pronouncement : 21.11.2024 ORDER The Assessee has filed the instant Appeal against the Order of the Ld. CIT(Appeal)/NFAC, Delhi dated 31.01.2024, relating to assessment year 2017-18 on the f…

M/S. Primary Co-Operative Agriculture and Rural Development Bank Limited, Davanagere vs. Assistant Commissioner of Income Tax, Circle-1, Davanagere

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1309/BANG/2024[2017-18]Status: DisposedITAT Bangalore15 Oct 2024AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan K.Assessment Year : 2017-18

For Appellant: Ms. Sunaina Bhatia, CA
Section 115BSection 234BSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC-‘B’ BENCH : BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K., JUDICIAL MEMBER Assessment Year : 2017-18 M/s. Primary Co-operative Agriculture and Rural The Assistant Development Bank Ltd., Commissioner of P C A & R D Bank Building, Income Tax, Rajendra Prasad Road, Circle – 1, Jagalur, Davanagere. Vs. Davanagere Dist. – 577 528. PAN: AABAP7490B APPELLANT RESPONDENT Assessee by : Ms. Sunaina Bhatia, CA : Shri Ganesh R. Ghale, Revenue by Standing Counsel for Dept. Date of Hearing : 10-09-2024 Date of Pronouncement : 15-10-2024 ORDER PER SO…

Guru Nanak Steel Traders, Yamuna Nagar vs. Income Tax Officer, Ward-5, Yamuna Nagar

In the result, the appeal of the assessee is allowed

ITA 782/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh09 Sept 2024AY 2017-18

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 115Section 133(6)Section 143(2)Section 68Section 69A

…s well as the VAT return filed by the assessee. Further reliance was placed on the Coordinate Benches decision in case of Agson Global(P.) Ltd. Vs. ACIT in ITA No. 5264/Del/2019 which has subsequently been upheld by the Hon’ble Delhi High Court as reported in 441 ITR 550, M/s Hirapanna Jewelers in ITA No. 253/Viz/2020, Smt. Charu Aggarwal and M/s Kalaneedhi Jewellers LLP in ITA 310 and 311/Chd/2021. 7. It was further submitted that the submissions so made by the assessee were reiterated before the Ld. CIT(A) and were duly acknowledged as apparent from the order of the Ld. CIT()A, however, without recording any ad…

Kuppusamy Meiyappan, Salem vs. DCIT, Circle-1(1), Salem

In the result, appeal filed by the assessee is allowed

ITA 647/CHNY/2024[2017-18]Status: DisposedITAT Chennai30 Aug 2024AY 2017-18

Bench: Shri Manu Kumar Giri & Shri S.R. Raghunathaआयकर अपील सं./Ita No.647/Chny/2024 िनधा9रण वष9 /Assessment Year: 2017-18 Kuppusamy Meiyappan, The Dy. Commissioner Of 2/263, Perumal Koil Medu Street, Vs. Income Tax, No.8, Seelanaickanpatty, Circle-1(1), Salem – 636 201. Salem. [Pan: Alppm 0517Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथF की ओर से/ Appellant By : Shri S. Sridhar, Advocate HiथF की ओर से /Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/Date Of Hearing : 03.07.2024 घोषणा की तारीख /Date Of Pronouncement : 30.08.2024 आदेश / O R D E R Per S.R. Raghunatha, A.M : This Appeal By The Assessee Is Arising Out Of The Order Of The Commissioner Of Income Tax (Appeals), (Nfac), Delhi [Hereinafter “Cit(A)”] In Din & Order No. Itba/Nfac/S/250/2023- 24/1059373357(1), Dated 04.01.2024. The Assessment Was Framed By The Assessing Officer For The Assessment Year 2017-18 U/S. 143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’), Vide Order Dated 29.12.2019. :- 2 -: 2. There Is A Delay Of 8 Days In Filing The Appeal By The Assessee.

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri D. Hema Bhupal, JCIT
Section 143(2)Section 143(3)Section 271ASection 69A

…t was Rs.15.25 crores and the respective net profit rate are @ 0.76% & 0.78%. When the accounts of the assessee were not found to be defective, the additions made is required to be deleted and relied on the following decisions: • 134 Taxmann.com 256 (Del) or 441 ITR 550 • 189 ITD 608 (Vizag Tribunal) and • ITA No.76/Vizag/2021 dated 16/03/2022. 6. Considering the assessee’s submissions, the Ld. CIT(A) deleted the addition to the tune of Rs.82,48,840/- on account deposits made after 15/11/2016 out of cash on hand held on 08/11/2016 and sustained the addition of Rs.88,23,659/- holding as under: “16.0 On merits…

A.G. India Retail Private Limited, Delhi, India vs. The Assistant Commissioner of Income Tax, Cr Building

In the result, the appeal of the assessee in ITA No

ITA 449/DEL/2024[2017-18]Status: DisposedITAT Delhi27 Aug 2024AY 2017-18

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Shri Sandeep Goel, AdvFor Respondent: Shri Kanv Bali, Sr. Dr
Section 115BSection 143(3)Section 68

…d forming part of turnover of the business. For this proposition the ld. counsel for the assessee relied upon : i) Delhi High Court in CIT vs Kailash Jewellery House ITA No.613/2010 dated 09.04.2010 ii) Delhi High Court in PCIT vs Agson Global Pvt Ltd (2022) 441 ITR 550 (Del) iii) ITAT Delhi decision in Rama Hygienic Products Pvt Ltd in ITA No.1455/Del/2021 order dated 27.09.2023 iv) ITAT Delhi decision in Pilani International vs ACIT Circle 21(2) in ITA No.1606/Del/2023 order dated 29.04.2024 based upon Hon’ble Supreme Court decision in case of Lalchand Bhagat Ambica Ram vs CIT (1959) 37 ITR 288. v) ITAT Delhi…

Shenbagam Hospitals Private Limited, Madurai vs. ACIT Corp. Circle 2, Madurai

In the result, appeal filed by the assessee is allowed

ITA 836/CHNY/2024[2017-18]Status: DisposedITAT Chennai14 Aug 2024AY 2017-18

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.836/Chny/2024 (िनधा"रणवष" / Assessment Year: 2017 -2018) Shenbagam Hospitals Private Limited, Vs. The Assistant Commissioner Of 15A, North Cross, Income Tax, 3Rd Street, Corporate Circle 2, Anna Nagar, Madurai. Madurai 625 020. [Pan: Aahcs 1403M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri P.M. Kathir, Advocate ""यथ" क" ओर से /Respondent By : Ms Gouthami Manivasagam, Irs, Jcit सुनवाई क" तार"ख/Date Of Hearing : 12.08.2024 घोषणा क" तार"ख /Date Of Pronouncement : 14.08.2024 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri P.M. Kathir, AdvocateFor Respondent: Ms Gouthami Manivasagam, IRS, JCIT
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 44ASection 68

…आयकर अपीलीय अिधकरण ‘बी’’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" एवं माननीय "ी मनु कुमार िग"र, "ाियक सद" के सम"। BEFORE HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON’BLE SHRI MANU KUMAR GIRI, JM आयकरअपील सं./ ITA No.836/Chny/2024 (िनधा"रणवष" / Assessment Year: 2017 -2018) Shenbagam Hospitals Private Limited, Vs. The Assistant Commissioner of 15A, North Cross, Income Tax, 3rd Street, Corporate Circle 2, Anna Nagar, Madurai. Madurai 625 020. [PAN: AAHCS 1403M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Shri P.M. Kathi…

Debraj Sahoo, Kolkata vs. DCIT, Cir. 44, Kolkata

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

ITA 276/KOL/2024[2017-18]Status: DisposedITAT Kolkata08 Aug 2024AY 2017-18

Bench: Sri Rajesh Kumar & Pradip Kumar Choubey

Section 143(3)Section 250Section 68

…h are as under: a) Lateef Abdul Mohd. -vs.- ITO (2022) 65 CCH 175 (Hyd-ITAT) [ITA No. 501/Hyd/2021] b) Purani Hospital Supplies Pvt. Ltd. -vs.- DCIT (2023) 68 CCH 121 (Chennai-ITAT) [ITA No. 489/Chny/2022] c) Pr. CIT -vs.- Agson Global Pvt. Ltd. & Ors. (2022) 441 ITR 550 (Del-HC) d) DCIT -vs.- Bawa Jewellers Pvt. Ltd. (Del-ITAT) [ITA No. 352/Del/2021| e) DCIT -vs.- Kundan Jewellers Pvt Ltd (Mum-ITAT) [ITA No, 1035/Mum/2022] f) Ashok Kumar Singh -vs.- ITO (2019) 56 CCH 320 (Del-ITAT) [ITA No. 6036/Del/2018] g) ITO -vs.- Devender Jeet Singh Kier (2017) 51 CCH 487 (Kol-ITAT) [ITA No. 1185/Kol/2014] h) Vipin Aggarwal…

Mr. Bichitrananda Rout, Shankarpur, Cuttack vs. Income Tax Officer, Ward-2(1), Cuttack

In the result, appeal of the assessee stands dismissed

ITA 60/CTK/2024[2017-18]Status: HeardITAT Cuttack10 Jul 2024AY 2017-18
For Appellant: Shri B.R.PandaFor Respondent: Shri S.C.Mohanty
Section 115BSection 44ASection 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE BEFORE SHRI GEORGE MATHAN, JUDICIAL JUDICIAL MEMBER AND MANISH AGARWAL MANISH AGARWAL, ACCOUNTANT MEMBER , ACCOUNTANT MEMBER Assessment Year : 2017-18 Mr Bichitrananda Rout, At: Mr Bichitrananda Rout, At: Vs. ITO, Ward ITO, Ward -2(1), Dhiha Dhiha Sahi, Sahi, Shankarpur, Shankarpur, Cuttack Cuttack PAN/GIR No PAN/GIR No.BXKPR 3067 C (Appellant (Appellant) .. ( Respondent Respondent) Assessee by : Shri B.R.Panda, B.R.Panda, Adv Revenue by : Shri S.C.Mohanty : Shri S.C.Moha…

Ganapathy Chandrasekaran, Erode vs. DCIT, Circle-1, Erode

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 776/CHNY/2024[2017-18]Status: DisposedITAT Chennai28 Jun 2024AY 2017-18

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 776/Chny/2024 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of Income Ganapathy Chandrasekaran, V. Tax, 93, Erode Main Road, Circle -1, Ganapathypalayam, Erode. Erode – 638 153. [Pan: Abrpc-3073-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. S. Sridhar, Advocate (Erode) ""यथ" क" ओर से/Respondent By : Shri. D. Hema Bhupal, Jcit सुनवाई क" तारीख/Date Of Hearing : 20.06.2024 घोषणा क" तारीख/Date Of Pronouncement : 28.06.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. S. Sridhar, Advocate (Erode)For Respondent: Shri. D. Hema Bhupal, JCIT
Section 69A

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी एबी टी वक", "याियक सद"य एवं "ी एस. आर. रघुनाथा, लेखा सद"य के सम" BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. R. RAGHUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 776/Chny/2024 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner of Income Ganapathy Chandrasekaran, v. Tax, 93, Erode Main Road, Circle -1, Ganapathypalayam, Erode. Erode – 638 153. [PAN: ABRPC-3073-D] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri. S. Sridhar, Advocate (Erode) ""यथ" क" ओर…

M/S. Mahaveera Minority Credit Co-Operative Society Limited, Vijayanagar vs. Income Tax Officer, Ward-1 & Tps, Hospet

ITA 528/BANG/2024[2017-18]Status: DisposedITAT Bangalore13 Jun 2024AY 2017-18

Bench: Shri George George K & Shri Waseem Ahmed

Section 115BSection 143(3)Section 234Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA No.528/Bang/2024 Assessment Year : 2017-18 M/s. Mahaveera Minority Credit Co-operative Vs. ITO, Society Ltd., Main Bazar, Hivinahadagali – 583 219, Vijayanagar District. Ward - 1 and TPS, Hospet. PAN: AAAAM 4533 Η APPELLANT RESPONDENT Assessee by Smt. Sunaiana Bhatia, CA Revenue by Shri. Ramnathan, Addl. CIT(DR)(ITAT), Bengaluru. Date of hearing 12.06.2024 Date of Pronouncement : 13.06.2024 ORDER Per George George K, Vice President: This appeal at the instance of the…

DCIT Central Circle-13, Jhandewalan New Delhi vs. Magic Auto Pvt Ltd., New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 2152/DEL/2023[2017-18]Status: DisposedITAT Delhi15 May 2024AY 2017-18

Bench: Shri Saktijit Dey & Shri Naveen Chandra

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Shri Rajesh Kumar Dhaneshta, Sr. DR
Section 145(3)Section 68

…nd description of items sold. 14. Per contra, the ld. counsel for the assessee reiterated what has been stated before the ld. CIT(A) and relied upon various judicial decisions of High Court and the Tribunal as under: i) PCIT vs Agson Global Pvt Ltd (2022) 441 ITR 550 (Delhi) ii) DCIT vs Bawa Jewellers Pvt LtdITA No. 352/DEL/2021 iii) Fine Gujranwala Jewellers Vs. ITO ITA No. 1540/DEL/2022 iv) ACIT Vs. HirapannaJewellers 96 ITR 24 v) ACIT Vs. M/s Ramlal Jewellers Pvt Ltd ITA No. 1600/Mum/2023 vi) ACIT Vs. Chandra Surana 104 ITR 503 104 ITR503 vii) AddulRazaak Vs, ITO 202 ITD 161 viii) R.S. Diamonds Indi…

DCIT Non Corporate Circle-4, Coimbatore vs. Navaratna Maaligai, Coimbatore

In the result, appeal filed by the revenue is dismissed

ITA 801/CHNY/2023[2017-18]Status: DisposedITAT Chennai05 Apr 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपीलसं./Ita No.: 801/Chny/2023 & Co No.: 48/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. Navaratna Maaligai, Income Tax, V. No. 362, Raja Street, Non-Corporate Circle -4, Coimbatore – 641 001. Aayakar Bhavan, [Pan: Aaifn-6257-E] 63, Race Course Road, Coimbatore – 641 018. (अपीलाथ"/Appellant) (Respondent/Cross Objector) : Shri. P. Sajit Kumar, Jcit अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. T. Banusekar, Advocate सुनवाई क" तारीख/Date Of Hearing : 19.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 05.04.2024

For Respondent: Shri. T. Banusekar, Advocate

…s from very same bank account. 17. At this stage, it is necessary to consider certain judicial precedents on this issue. The assessee has relied upon the decision of the Hon’ble Delhi High Court in the case of PCIT v. Agson Global (P) Ltd., reported in [2022] 441 ITR 550 (Delhi) (19-01-2022). The Hon’ble Delhi High Court under identical set of facts, has deleted the additions made by the AO towards cash deposits during demonetization u/s.68 of the Act. The relevant findings of the Hon’ble Delhi High Court are as under: • A careful perusal of the extract of the statement made by managing director of the assessee (…