Roshan Di Hatti v. CIT

107 ITR 938Supreme Court of India1977#147 most cited

What is Roshan Di Hatti v. CIT authority for?

An assessee bears the onus to prove the identity, creditworthiness, and genuineness of any cash credit or transaction. If the assessee fails to discharge this burden with cogent evidence and explanation, the Assessing Officer is justified in making additions to their income, and no further burden lies on the revenue.

477

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2026.

Also referred to as

Roshan Di Hatti v. CIT · Section 68 · assessee onus of proof · cash credits · genuineness of transaction · identity of creditor · creditworthiness of creditor · additions to income · unexplained money · Section 143(3) · Section 147

Also reported as

2 SCC 378

Sections most often in play

Section 68Section 143(3)Section 147Section 142(1)Section 115BBESection 69ASection 148Section 144
Read the full judgment

Issues it is cited on

creditworthiness of the creditoronus of proofsource of sourceshare capital and share premiumpreponderance of probabilitysection 31paper companyaddition u/s 68survey under section 133aaddition under section 68share application moneygenuineness of the transaction

Judgments citing Roshan Di Hatti v. CIT

Jt. CIT (OSD), CC -6 (3), Mumbai vs. Advent Developer Pvt. Ltd., Mumbai

The appeal of the revenue is dismissed

ITA 3066/MUM/2018[2010-11]Status: DisposedITAT Mumbai16 Mar 2022AY 2010-11

Bench: Shri Amarjit Singh, Am & Ms. Kavitha Rajagopal, Jm (Virtual Court Hearing) आयकरअपीलसं./ I.T.A. No. 3066/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) M/S Advent Developers Jt. Cit (Osd), Cc-6(3) R. No. 1926, 19Th Floor, Pvt. Ltd. Cts-12A/28A, 12A/29 Tp Air India Bldg, Nariman बिधम/ 33, Advent Atria, Point, Mumbai-400 021 Vs. Chincholi Bunder Road, Malad(W), Mumbai-400 064 स्थायीलेखासं./जीआइआरसं./ Pan No. Aafca3158H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Vishwas Mehendale, Ld. Ar By प्रत्यथीकीओरसे/Respondent : Ms. Shailja Rai, Ld. Dr By सुनवाईकीतारीख/ : 02.02.2022 Date Of Hearing घोषणाकीतारीख / : 16.03.2022 Date Of Pronouncement आदेश / O R D E R Per Kavitha Rajagopal: This Appeal Filed By The Revenue Challenges The Impugned Order Dated 23.02.2018 Passed By Ld. Commissioner Of Income Tax (Appeals) – 54, Mumbai In Short Referred As „Ld. Cit(A)‟ In 2

For Appellant: Shri Vishwas MehendaleFor Respondent: Ms. Shailja Rai, Ld. DR by
Section 143(3)Section 153ASection 68

…of PCIT Central-1 Vs. NRA Iron & Steel (P) Ltd, reported in [2019] 103 taxman.com 48 (SC), after referring to the earlier decision of Hon‟ble Supreme Court in the case of Kale Khan Mohammad Hanif Vs. CIT (1963) 50 ITR 1 (SC) and Roshan Di Hatti Vs. CIT (1977) 107 ITR 938(SC), though decided in favour of the revenue, it is pertinent to consider the principles laid down in the said decision that “The onus of proving the source of a sum of money found to have been received by the assessee, is on the assessee. Once the assessee has submitted the documents relating to identity, genuineness of transaction and creditwor…

Commissioner of Income Tax (Exemptions) Delhi vs. Servants of People Society

ITA/27/2022HC Delhi11 Feb 2022

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE NAVIN CHAWLA

…ced the same. The Bill of Entry was accordingly assessed. 3. The said assessment was challenged by the respondents before Commissioner (Appeals), who observed that 21 2020 SCC OnLine CESTAT 3871 22 (2019) 2 SCC 378 Digitally Signed By:KAMLESH KUMAR Signing Date:27.11.2024 18:20:25 Signature Not Verified CUSAA 26/2022 & connected matters Page 79 of 137 inasmuch as the assessing authority has not passed a speaking order giving reasons for rejection of the declared price, he set aside the assessment order and directed the…

Commissioner of Income Tax (Exemptions) Delhi vs. Servants of People Society

ITA/26/2022HC Delhi11 Feb 2022

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE NAVIN CHAWLA

…ced the same. The Bill of Entry was accordingly assessed. 3. The said assessment was challenged by the respondents before Commissioner (Appeals), who observed that 21 2020 SCC OnLine CESTAT 3871 22 (2019) 2 SCC 378 Digitally Signed By:KAMLESH KUMAR Signing Date:27.11.2024 18:20:25 Signature Not Verified CUSAA 26/2022 & connected matters Page 79 of 137 inasmuch as the assessing authority has not passed a speaking order giving reasons for rejection of the declared price, he set aside the assessment order and directed the…

Dy CIT Central Circle-4(1), Mumbai vs. M/S Vinodkumar Bajaj & Company HUF, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 1873/MUM/2020[2009-10]Status: DisposedITAT Mumbai27 Jan 2022AY 2009-10
For Appellant: Ms. Hema SharmaFor Respondent: Shri S.N. Kabra
Section 132(4)Section 143(3)Section 148Section 68

…tablishes that such further inquiries/ investigations have subsequently been conducted by Ld. AO in the present case. For the said proposition, we draw strength from the land mark case of Kale Khan Mohammad Hanif vs. CIT [50 ITR 1] and Roshan Di Hatti vs.CIT [107 ITR 938] as already cited in the above decision of Hon'ble Apex Court. Similar is the ratio of Hon'ble Apex Court rendered in CIT vs. Orissa Corporation [159 ITR 178]. It is trite law that additions could not be made merely on the basis of doubts, conjectures or surmises. After considering the entire case law as discussed above we find that the case law…

Nimbus Projects Ltd., New Delhi vs. DCIT, CC-2, Noida

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

ITA 929/DEL/2021[2014-15]Status: DisposedITAT Delhi12 Jan 2022AY 2014-15

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Nimbus Projects Ltd., New Delhi vs. DCIT, CC-2, Noida

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

ITA 928/DEL/2021[2013-14]Status: DisposedITAT Delhi12 Jan 2022AY 2013-14

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Nimbus Projects Ltd., New Delhi vs. DCIT, CC-2, Noida

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

ITA 927/DEL/2021[2012-13]Status: DisposedITAT Delhi12 Jan 2022AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Nimbus Projects Ltd., New Delhi vs. DCIT, CC-2, Noida

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

ITA 926/DEL/2021[2011-12]Status: DisposedITAT Delhi12 Jan 2022AY 2011-12

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Nimbus Projects Ltd., New Delhi vs. DCIT, CC-2, Noida

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

ITA 925/DEL/2021[2010-11]Status: DisposedITAT Delhi12 Jan 2022AY 2010-11

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Bipin Agarwal, New Delhi vs. DCIT, CC-2, Noida

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

ITA 924/DEL/2021[2012-13]Status: DisposedITAT Delhi12 Jan 2022AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Nimbus Multicommodity Brokers Pvt. Ltd.(Formerly Nimbus Multicommodity Brokers Ltd.), New Delhi vs. DCIT, CC-2, Noida

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

ITA 923/DEL/2021[2012-13]Status: DisposedITAT Delhi12 Jan 2022AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 925/Del/2021 : Asstt. Year : 2010-11 Ita No. 926/Del/2021 : Asstt. Year : 2011-12 Ita No. 927/Del/2021 : Asstt. Year : 2012-13 Ita No. 928/Del/2021 : Asstt. Year : 2013-14 Ita No. 929/Del/2021 : Asstt. Year : 2014-15 Nimbus Project Ltd., Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aaacn0116H Ita No. 923/Del/2021 : Asstt. Year : 2012-13 Nimbus Multi Commodity Brokers Pvt. Vs Dcit, Ltd. (Formerly Nimbus Multi Commodity Central Circle-2, Brokers Ltd.), 1001-1006, Narain Noida Manzil, 23, Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacn2195G Ita No. 924/Del/2021 : Asstt. Year : 2012-13 Bipin Agarwal, Vs Dcit, 1001-1006, Narain Manzil, 23, Central Circle-2, Barakhamba Road, New Delhi-110001 Noida (Appellant) (Respondent) Pan No. Aewpa2901C Assessee By : Sh. Rajiv Khandelwal, Ca Revenue By : Ms. Deepshikha Sharma, Cit Dr Date Of Hearing: 11.11.2021 Date Of Pronouncement: 12.01.2022

For Appellant: Sh. Rajiv Khandelwal, CAFor Respondent: Ms. Deepshikha Sharma, CIT DR
Section 132Section 153Section 153ASection 153DSection 68

…R 465 have observed and held that mere filing of confirmation and transaction through the banking channel is not enough to prove the genuineness of cash credit and it can be assessed. Further, Hon'ble Apex Court in the case of Shri Roshan D. Haiti Vs CIT (SC) 107 ITR 938 held that in the case of credits in the name of third party, it is the duty of the appellant to prove the identity or credit capacity of the creditors to advance money and 54 Nimbus Multicommodity Brokers Pvt. Ltd. Bipin Agarwal ITA Nos. 925 to 929/Del/2021 Nimbus Project Ltd. genuineness of transaction. Further, Hon'ble Delhi High Court in the c…

Bramhani Industries Limited, Jammalamadugu, Kadapa vs. DCIT, Circle-1(3), Hyderabad

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 512/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…. Woodward Governor India (P) Ltd (312 ITR 254); PCIT vs. I-Ven Interactive Ltd (418 ITR 662); PCIT vs. NRA Iron & Steel (P) Ltd (412 ITR 161); NRA Iron & Steel (P) Ltd vs. PCIT 273 Taxman 14; Kale Khan Mohammed Hanif vs. CIT (50 ITR 1); Roshan Hatti vs. CIT (107 ITR 938); CIT vs. P. Mohankala ( 291 ITR 278) and CIT vs. N.R. Portfolio (P) Ltd (42 Taxmann.com 339). 31. To sum up, Section 68 of the Act provides that, if any sum found credited in the year in respect of which the assessee fails to explain the nature and source, shall be assessed as its undisclosed income. In the facts of the present case, we find th…

DCIT, Circle-1(2), Hyderabad vs. Bramhani Industries Limited, Jammalamadugu, Ysr Dist.

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 398/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…. Woodward Governor India (P) Ltd (312 ITR 254); PCIT vs. I-Ven Interactive Ltd (418 ITR 662); PCIT vs. NRA Iron & Steel (P) Ltd (412 ITR 161); NRA Iron & Steel (P) Ltd vs. PCIT 273 Taxman 14; Kale Khan Mohammed Hanif vs. CIT (50 ITR 1); Roshan Hatti vs. CIT (107 ITR 938); CIT vs. P. Mohankala ( 291 ITR 278) and CIT vs. N.R. Portfolio (P) Ltd (42 Taxmann.com 339). 31. To sum up, Section 68 of the Act provides that, if any sum found credited in the year in respect of which the assessee fails to explain the nature and source, shall be assessed as its undisclosed income. In the facts of the present case, we find th…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3565/MUM/2019[2014-15]Status: DisposedITAT Mumbai23 Dec 2021AY 2014-15
Section 133Section 143(3)Section 6Section 68

…roperty, cannot be satisfactorily explained by the assessee, it is open to the revenue to hold that it is the income of the assessee and no further burden lies on the revenue to show that the income is from any particular source [Roshan Di Hatti v. CIT [1977] 107 ITR 938 (SC)]  The burden to prove the genuineness of cash credit lies on the taxpayer. If the assessee fails to prove satisfactorily the source and nature of amounts of cash received and creditworthiness of the creditor, the AO is entitled to draw inference that the receipts are of an assessable nature [A. Govindarajulu Mudaliar v. CIT [1958] 34 IT 807…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3564/MUM/2019[2013-14]Status: DisposedITAT Mumbai23 Dec 2021AY 2013-14
Section 133Section 143(3)Section 6Section 68

…roperty, cannot be satisfactorily explained by the assessee, it is open to the revenue to hold that it is the income of the assessee and no further burden lies on the revenue to show that the income is from any particular source [Roshan Di Hatti v. CIT [1977] 107 ITR 938 (SC)]  The burden to prove the genuineness of cash credit lies on the taxpayer. If the assessee fails to prove satisfactorily the source and nature of amounts of cash received and creditworthiness of the creditor, the AO is entitled to draw inference that the receipts are of an assessable nature [A. Govindarajulu Mudaliar v. CIT [1958] 34 IT 807…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3563/MUM/2019[2012-13]Status: DisposedITAT Mumbai23 Dec 2021AY 2012-13
Section 133Section 143(3)Section 6Section 68

…roperty, cannot be satisfactorily explained by the assessee, it is open to the revenue to hold that it is the income of the assessee and no further burden lies on the revenue to show that the income is from any particular source [Roshan Di Hatti v. CIT [1977] 107 ITR 938 (SC)]  The burden to prove the genuineness of cash credit lies on the taxpayer. If the assessee fails to prove satisfactorily the source and nature of amounts of cash received and creditworthiness of the creditor, the AO is entitled to draw inference that the receipts are of an assessable nature [A. Govindarajulu Mudaliar v. CIT [1958] 34 IT 807…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3562/MUM/2019[2011-12]Status: DisposedITAT Mumbai23 Dec 2021AY 2011-12
Section 133Section 143(3)Section 6Section 68

…roperty, cannot be satisfactorily explained by the assessee, it is open to the revenue to hold that it is the income of the assessee and no further burden lies on the revenue to show that the income is from any particular source [Roshan Di Hatti v. CIT [1977] 107 ITR 938 (SC)]  The burden to prove the genuineness of cash credit lies on the taxpayer. If the assessee fails to prove satisfactorily the source and nature of amounts of cash received and creditworthiness of the creditor, the AO is entitled to draw inference that the receipts are of an assessable nature [A. Govindarajulu Mudaliar v. CIT [1958] 34 IT 807…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3561/MUM/2019[2010-11]Status: DisposedITAT Mumbai23 Dec 2021AY 2010-11
Section 133Section 143(3)Section 6Section 68

…roperty, cannot be satisfactorily explained by the assessee, it is open to the revenue to hold that it is the income of the assessee and no further burden lies on the revenue to show that the income is from any particular source [Roshan Di Hatti v. CIT [1977] 107 ITR 938 (SC)]  The burden to prove the genuineness of cash credit lies on the taxpayer. If the assessee fails to prove satisfactorily the source and nature of amounts of cash received and creditworthiness of the creditor, the AO is entitled to draw inference that the receipts are of an assessable nature [A. Govindarajulu Mudaliar v. CIT [1958] 34 IT 807…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Apeejay Shipping Ltd

In the result, these appeals are allowed and the substantial

ITA/26/2021HC Calcutta08 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…in Sanjay Bimalchand Jain L/H/Shantidevi Bimalchand Jain Versus the Principal Commissioner of Income Tax, 11 2022 SCC Online ITAT 28 12 (2012) SCC Online (Del.) 6466 13 2007 6 SCC 21 14 1977 2 SCC 378 15 1963 50 ITR 1 SC ITAT NO. 06 OF 2022 AND ETC. BATCH Page 28 of 150 Nagpur & Anr., Income Tax Appeal No. 18 of 2017 dated 10.4.2017 wherein the Court upheld the order passed by the learned Tribunal which had held that the fantastic sale price was not at all possible as there was no economic or financial basis as to how a share worth Rs…

Ramlal Chauhan, Ujjain vs. ITO2(2), Ujjain

In the result, Assessee’s appeal in ITANo

ITA 281/IND/2020[2010-11]Status: DisposedITAT Indore30 Nov 2021AY 2010-11

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year: 2010-11

Section 142(1)Section 144Section 148Section 69A

…the explanation offered by him is not satisfactory in the opinion of the AO., the value of such asset may be deemed to be the income of the assessee of the corresponding financial year. 7.1 Hon'ble’ Supreme Court in the cases of Roshan Di Hatti vs. CIT [1977] 107 ITR 938 (SC) and Kale Khan Mohammad Hanif v. CIT (1963) 50ITR 1(SC) held that the law is well settled that the onus of proving the source of a sum of money found to have been received by an assessee is on him. Where the nature and source of a receipt, whether it be of money or other property, cannot be satisfactorily explained by the assessee, it is open…