Rajhans Construction Pvt. Ltd. v. ACIT

140 Taxmann.com 370Reported decision2022#5415 most cited

What is Rajhans Construction Pvt. Ltd. v. ACIT authority for?

An Assessing Officer is not justified in making an addition under section 68 when an unsecured loan has been repaid within a short span of time, especially when interest has been paid and tax deducted thereon.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2024 to 2026.

Also referred to as

Rajhans Construction Pvt. Ltd. v. ACIT · section 68 · unsecured loan repayment · genuineness of loan · addition under section 68 · interest on loan · tax deduction on interest

Sections most often in play

Section 68Section 148Section 147Section 143(3)Section 133(6)Section 271(1)(c)Section 69Section 69A

Issues it is cited on

section 147(b)beyond four yearsfresh tangible materialsource of sourcecreditworthiness of the creditorsection 34(1)material facts necessary for assessmentfirst proviso to section 147section 148(2)addition under section 68onus of proofsummons under section 131

Judgments citing Rajhans Construction Pvt. Ltd. v. ACIT

Gem Forgings Pvt. Ltd., Kolkata vs. DCIT, Cir. 8(1), Kolkata

In the result, the appeals in ITA No

ITA 1423/KOL/2023[2012-13]Status: DisposedITAT Kolkata22 May 2024AY 2012-13

Bench: Shri Rajesh Kumar, Am& Shri Sonjoy Sarma, Jm]

Section 131Section 133(6)Section 143(3)Section 147Section 148Section 148(2)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA [Before Shri Rajesh Kumar, AM& Shri Sonjoy Sarma, JM] I.T.A. No. 1423/Kol/2023 Assessment Year: 2012-13 & ITA No. 1424 & 1425/Kol/2023 Assessment Years: 2013-14 & Assessment Year: 2014-15 Gem Forgings Pvt. Ltd. Vs. Deputy Commissioner of Income-tax, 10C, Middleton Row, Kolkata-700071. Circle-8(1), Kolkata (PAN: AABCG0227B) Appellant Respondent Date of conclusion of Hearing 01.05.2024 Date of Pronouncement 22.05.2024 For the Assessee Shri Giridhar Dhelia, Advocate & Shri Ashish Rustogi, CA For the Respondent Shri Abhijit Adhikary, Addl. CIT ORDER Per Shri…