Rakesh Kalia v. CIT

286 ITR 357High Court2006#17521 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2020 to 2024.

Sections most often in play

Section 115BBESection 143(3)Section 145(3)Section 234ASection 234BSection 234CSection 68Section 132

Issues it is cited on

section 23(3)section 66section 158bcsection 260section 260arejection of books of accountbest judgment assessmentinterest u/s 234asection 40a(3)section 158bsection 158section 145(3)

Judgments citing Rakesh Kalia v. CIT

Priyanka Surana, Jaipur vs. ITO Ward 5(1), Jaipur

In the result, the appeal of the assesee is allowed

ITA 102/JPR/2024[2017-18]Status: DisposedITAT Jaipur28 May 2024AY 2017-18

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri Sharwan Kumar Gupta, AdvFor Respondent: Smt. Monisha Choudhary, Addl. CIT-DR
Section 115BSection 142(1)Section 143(2)Section 143(3)Section 234ASection 68

…ion 68 is that there has to be credit of amount in the books maintained by the assessee. [CIT vs P. Mohanakala (2007) 291 ITR 278 (SC)]. (e) The section is applicable only when a sum is found credited in the books of the assessee [Rakesh Kalia v. CIT, (2006) 286 ITR 357 (Dei.)]. In the case of assessee neither any sum has been credited in the books of accounts or in the bank account even for a single day throughout the year which is evident from the peak analysis of bank account is submitted here with. As evident from the bank account, sale proceeds realized was deposited in the bank are utilized in the same day…

Balaji Jewellers, Jaipur vs. ACIT CC -4, Jaipur

In the result, the appeal of the assessee is allowed

ITA 433/JPR/2023[2018-19]Status: DisposedITAT Jaipur04 Jan 2024AY 2018-19

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Shrawan Kumar Gupta, AdvocateFor Respondent: Shri Ajay Malik, CIT
Section 115BSection 132Section 133ASection 139(1)Section 142Section 143(2)Section 143(3)Section 145(3)Section 234ASection 68

…tion 68 is that there has to be credit of amount in the books maintained by the assessee. [CIT vs P. Mohanakala (2007) 291 ITR 278 (SC)]. (f) The section is applicable only when a sum is found credited in the books of the assessee[RakeshKalia v. CIT, (2006) 286 ITR 357 (Dei.)].In the case of assessee neither any sum has been credited in the books of accounts or in the bank account even for a single day throughout the year which is evident from the peak analysis of bank account is submitted here with. As evident from the bank account, sale proceeds realized was deposited in the bank are utilized in the same day…

Rukmani Jewellers Private Limited, Jaipur vs. DCIT Cir.-4 Jaipur, Jaipur

In the result, the appeal of the assessee is allowed

ITA 539/JPR/2023[2017-18]Status: DisposedITAT Jaipur20 Dec 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Shrawan Kumar Gupta (Adv.)For Respondent: Shri A. S. Nehra (Addl. CIT) a
Section 115BSection 143(2)Section 143(3)Section 145(3)Section 234ASection 68

…tion 68 is that there has to be credit of amount in the books maintained by the assessee. [CIT vs P. Mohanakala (2007) 291 ITR 278 (SC)]. (e) The section is applicable only when a sum is found credited in the books of the assessee[Rakesh Kalia v. CIT, (2006) 286 ITR 357 (Dei.)].In the case of assessee neither any sum has been credited in the books of accounts or in the bank account even for a single day throughout the year which is evident from the peak analysis of bank account is submitted here with. As evident from the bank account, sale proceeds realized was deposited in the bank are utilized in the same day…

M/S Aakar Housing Developers Pvt. Ltd., Varanasi vs. ACIT, Cir. - 02, Varanasi

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

ITA 33/ALLD/2018[2013-2014]Status: DisposedITAT Varanasi16 Sept 2022AY 2013-2014

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S. Aakar Housing Assistant Commissioner Of Income Tax Developers Pvt. Ltd. V. Circle-2, B-21/62 , Kamachha, M.A. Road, Varanasi-221001, U.P. Varanasi, U.P. Pan:Aahca1616Q (Appellant) (Respondent)

For Appellant: Shri Ashish Bansal AdvFor Respondent: Shri A.K. Singh Sr. DR
Section 133(6)Section 143(2)Section 143(3)Section 68

…he AO also relied upon following judicial precedents: a) Hon’ble Supreme Court judgment and order in the case of CIT v. P. Mohankala , (2007) 291 ITR 278(SC) b) Hon’ble Delhi High Court judgment and order in the case of Rakesh Kalia v. CIT, reported in (2006) 286 ITR 357(Del. HC) c) Hon’ble Allahabad High Court judgment and order in the case of Ram Lal Agarwal v. CIT, reported in (2006) 280 ITR 547 (All. HC) d) Hon’ble Punjab and Haryana High Court judgment and order in the case of Acron Finance Private Limited v. CIT, reported in (2011) 13 taxmann.com 69(P&H HC) 4. Aggrieved by aforesaid assessment framed by the…

ITO, New Delhi vs. Sh. Sunil Nayyar, Delhi

In the result, the appeal of the revenue is dismissed and Cross

ITA 6168/DEL/2016[2012-13]Status: DisposedITAT Delhi24 Feb 2020AY 2012-13

Bench: Sh. Kuldip Singhdr. B. R. R. Kumarita No. 6168/Del/2016 : Asstt. Year : 2012-13 Income Tax Officer, Vs Sh. Sunil Nayyar, Ward-49(3), R/O 81-A, Vikrant Enclave, New Delhi Mayapuri, New Delhi-110064 (Appellant) (Respondent) Pan No. Abvpn3963B

For Appellant: Sh. Jagdish Ajmani, CAFor Respondent: Sh. Saras Kumar, Sr. DR
Section 68

…section 68 is that there has to be credit of amount in the books maintained by the assessee. [CIT vs P. Mohanakala (2007) 291 ITR 278 (SC)]. The section is applicable only when a sum is found credited in the books of the assessee [Rakesh Kalia v. CIT, (2006) 286 ITR 357 (Dei.)]. In the case of assessee neither any sum has been credited in the books of accounts or in the bank account even for a single day throughout the year which is evident from the peak analysis of bank account is submitted here with. As evident from the bank account, sale proceeds realized was deposited in the bank are utilized in the same day…

Rakesh Kalia v. CIT (286 ITR 357) — Cited in 5 Judgments | BharatTax