R.K. Synthetics v. ITO

Shri Mohan Thakur, Mumbai vs. A.C.I.T. Cent. Cir. 8(4), Mumbai

…aphic transfer was sent by the assessee. burden of proof lay on department to show that remitted amount belonged to assessee by bringing proper evidence. Reliance is placed on the decision of the ITAT Jodhpur Bench in the case of R.K. Synthetics v. ITO [2004] 3 SOT 268 (Jodhpur)[l 7-10-2O03] page 275- 278 of PB III (at Para 10 at page 277) where based on an admission made by partner of assessee-firm before Central Excise authorities that they had received certain processed man-made fabrics from processors which were without cover of invoices and without payment of Central Excise duty, Assessing Officer made addit…

Shri Mohan Thakur, Mumbai vs. A.C.I.T. Cent. Cir. 8(4), Mumbai

…aphic transfer was sent by the assessee. burden of proof lay on department to show that remitted amount belonged to assessee by bringing proper evidence. Reliance is placed on the decision of the ITAT Jodhpur Bench in the case of R.K. Synthetics v. ITO [2004] 3 SOT 268 (Jodhpur)[l 7-10-2O03] page 275- 278 of PB III (at Para 10 at page 277) where based on an admission made by partner of assessee-firm before Central Excise authorities that they had received certain processed man-made fabrics from processors which were without cover of invoices and without payment of Central Excise duty, Assessing Officer made addit…

Shri Mohan Thakur, Mumbai vs. A.C.I.T. Cent. Cir. 8(4), Mumbai

…aphic transfer was sent by the assessee. burden of proof lay on department to show that remitted amount belonged to assessee by bringing proper evidence. Reliance is placed on the decision of the ITAT Jodhpur Bench in the case of R.K. Synthetics v. ITO [2004] 3 SOT 268 (Jodhpur)[l 7-10-2O03] page 275- 278 of PB III (at Para 10 at page 277) where based on an admission made by partner of assessee-firm before Central Excise authorities that they had received certain processed man-made fabrics from processors which were without cover of invoices and without payment of Central Excise duty, Assessing Officer made addit…

Shri Mohan Thakur, Mumbai vs. A.C.I.T. Cent. Cir. 8(4), Mumbai

…aphic transfer was sent by the assessee. burden of proof lay on department to show that remitted amount belonged to assessee by bringing proper evidence. Reliance is placed on the decision of the ITAT Jodhpur Bench in the case of R.K. Synthetics v. ITO [2004] 3 SOT 268 (Jodhpur)[l 7-10-2O03] page 275- 278 of PB III (at Para 10 at page 277) where based on an admission made by partner of assessee-firm before Central Excise authorities that they had received certain processed man-made fabrics from processors which were without cover of invoices and without payment of Central Excise duty, Assessing Officer made addit…

Mohd Rizwan Mohd Kallan Khan, Mumbai vs. Income Tax Officer 26(3)(4), Mumbai

In the result, appeal filed by assessee is partly allowed

Bench: Shri G.S. Pannu & Shri Pawan Singhmd. Rizwan Mohd Kallan Ito 26(3)(4) Room No. 711, 7Th Floor, Khan, Plot No. 603, Flat No.13, Bldg No. 7 D, Bombay Taxi C-11, Pratyakshakar Bhavan, Men’S Co-Operative Society, Vs. Bandra (East), Mumbai-51. Lbs Marg, Kurla (West), Mumbai-400070 Pan: Agjpk2270K Appellant Respondent Appellant By : Shri Vimal Punmiya (Ar) Respondent By : Shri Rajesh Kumar Yadav (Ar) Date Of Hearing :25.04.2018 Date Of Pronouncement : 31.05.2018 Order Per Pawan Singh; 1. The Instant Appeal By Assessee Under Section 253 Of The Income-Tax Act (The Act) Is Directed Against The Order Of Ld. Commissioner Of Income-Tax

…hd Kallan Khan (Cal). 10 Transaction duly supported by the CIT V/s M K Bros. [163 ITR 249] evidence, no evidence that cash ITO V/s Kanchanwala Gems 122 received back. Addition cannot TTJ 854 be made: 11 No Defects in books of account R K Synthetics V/s ITO 81 TTJ 909 found by the AO. Hence, the addition cannot be made on mere statement basis: 12 Identity, Source of payment Babulal C Borana V /s ITO [282 ITR explained, Bank payment, Books 251] of account accepted, Then addition of book entries cannot be take place: 13 Issue is also decided by the Shri Ganpatraj A Sanghavi V/s ACIT Hon'ble Jurisdictional Tribu…

Asst CIT 25(2), Mumbai vs. Metcraft Engineering Corporation, Mumbai

In the result, appeal of the Revenue is dismissed

Bench: Shri R.C.Sharma, Am & Shri Ram Lal Negi, Jm Acit – 25(2), Mumbai Vs. M/S. Metcraft Engineering Corporation, 601-602, Siddarth Arcade, 3 Lt Road, Borivali (W), Mumbai – 400 092 Pan/Gir No. Aaafm1677M Appellant) .. Respondent)

…reported at 79,ITD 84 ' : The Hon'ble ITAT, Jaipur Bench in case of ITO v. Kanchanwala Gems reported in 122 TTJ 854 In the case of ITO vs. Permanand, the Hon'ble ITAT, Jodhpur Bench reported in 107 TTJ 395 ' , In the case of R.K.Synthetics vs. ITO reported at 81 TTJ 909; the Hon'ble ITAT, Jcdhpur Bench Hon'ble Chandigarh IT,AT in the case of ITO v. Arora Alloys Ltd. (2012)[12 ITR (trib) 26.3], Rajmal Lakhichand v. Asstt. CIT [2001] 79 ITD 84 (Pune) . Western India Bakers (P,.) Ltd. v. Dy. CIT [2003] 87'ITD 607 (Mum.) Sharma Associates v. Asstt. CIT [1996] 217 ITR (AT) 1/[1995] 55 ITD~ 171 (Pune) (TM) , : Glorious…

ITO 31(2)(3), Mumbai vs. Manjula S. Shah, Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2009-10 Income Tax Officer-31(2)(3), Mrs. Manjula S. Shah, Room No.704, C-11, Prop. Of M/S Eastment बनाम/ Pratayaksha Kar Bhavan, Chemicals, 3/202, Rishabh Vs. Bandra Kurla Complex, Mansion, S.V.Road, Nr. St. Bandra(East), John School, Mumbai-400051 Goregaon (W), Mumbai-400062 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No. Aapps3790Q

…justified. Since the purchase in question had been held as genuine purchase, addition of Rs.55,632 could not be made to the income of the assessee. Hence, the revenue's appeal was liable to be dismissed." iii) In the case of R.K.Synthetics vs. ITO reported at 81 TTJ 909, the Hon'ble ITAT, Jodhpur Bench has held; "It was an undeniable fact that the addition in question under section 69 had been made on the sole basis of the statement of the partner of the assessee-firm recorded by the Central Excise authorities. That was also an undeniable 27 Mrs. Manjula S. Shah fact that the Assessing Officer never recorded an…

ACIT 25(1), Mumbai vs. Chirag Construction, Mumbai

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2009-10 Acit-25(1), M/S Chirag Construction Room No.202, 02Nd Floor, Company, बनाम/ Pratayakshkar Bhavan, 105, Gopal Puri, S.V.Road, Vs. Bandra Kurla Complex, Borivali (W), Bandra (East), Mumbai-400066 Mumbai-400051 (राज"व /Revenue) (""यथ" /Respondent) Pan. No.Aacfc7646N

…justified. Since the purchase in question had been held as genuine purchase, addition of Rs.55,632 could not be made to the income of the assessee. Hence, the revenue's appeal was liable to be dismissed." iii) In the case of R.K.Synthetics vs. ITO reported at 81 TTJ 909, the Hon'ble ITAT, Jodhpur Bench has held; "It was an undeniable fact that the addition in question under section 69 had been made on the sole basis of the statement of the partner of the assessee-firm recorded by the Central Excise authorities. That was also an undeniable fact that the Assessing Officer never recorded any further statement of the…