S.K.Jain v. ITO

2 SOT 579Income Tax Appellate Tribunal2004#13700 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2018 to 2025.

Sections most often in play

Section 131Section 133(6)Section 143(3)Section 147Section 148Section 151Section 68Section 69C

Issues it is cited on

creditworthiness of the creditorshare application moneyaddition u/s 68unexplained expendituresection 69csection 132(4)section 131genuineness of the transactionsection 69section 68section 13transfer

Judgments citing S.K.Jain v. ITO

Income Tax Officer, Jaipur vs. Kedia Builders and Colonizers Private Limited, Jaipur

In the result, all appeals of the revenue are stands dismissed

ITA 901/JPR/2024[2014-15]Status: DisposedITAT Jaipur11 Mar 2025AY 2014-15

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Sidharth RankaFor Respondent: Mrs. Anita Rinesh, JCIT-DR
Section 143(3)Section 147

…y or were such who could advance the alleged loans. There was no effort made to pursue the so-called alleged creditors. In those circumstances, the assessee could not do anything further." 6.10 The Hon'ble Agra Tribunal in the case of S.K. Jain Vs ITO (2004) 2 SOT 579 (Agra) observed as under. "The creditors have confirmed that they have advanced loan to the assessee. In most of the cases, transactions have been routed through bank account. Therefore, asking source of such deposits will amount to asking source of the source which is not permitted under the law as held by the Hon'ble High Court of Patna in the c…

DCIT-13(3)(2), Mumbai vs. M/S Vedartha Entertainment Ltd., Mumbai

ITA 4169/MUM/2019[2014-15]Status: DisposedITAT Mumbai25 Nov 2021AY 2014-15

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2014-15 Dcit-13(3)(2), M/S Vedartha Entertainment Ltd., Room No. 229/219, 2Nd Floor, Vs. 201, 2Nd Floor, Jaimala Apartment, Aayakar Bhavan, M.K. Road, Near Hotel Shimmers, Link Road, Mumbai-400020. Malad (E), Mumbai-400064. Pan No. Aaecv 0129 N Appellant Respondent Revenue By : Mr. Usha Gaikwad, Dr Assessee By : Ms. Neelkant Khandelwal, Ar Date Of Hearing : 21/09/2021 Date Of Pronouncement : 25/11/2021

For Appellant: Ms. Neelkant Khandelwal, ARFor Respondent: Mr. Usha Gaikwad, DR
Section 131Section 142(1)Section 143Section 143(3)

…tion as being not satisfactory, has to be based on proper appreciation of material and other attending circumstances available on record - Held, yes" 11. We would also like to rely upon the decision of Honble Agra Tribunal in the case of S.K.Jain vs ITO(2004) 2 SOT 579 (Agra) wherein it was observed that:- "The creditors have confirmed that they have advanced loan to the assessee. In most of the cases, transactions have been routed through bank account. Therefore, asking source of such deposits will amount to asking source of the source which is not permitted under the law as held by the Hon'ble High Court of Pat…

ACIT, Central Circle- 5, New Delhi vs. Harvansh P Chawla, New Delhi

ITA 5858/DEL/2017[2009-10]Status: DisposedITAT Delhi26 Apr 2021AY 2009-10

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5857/Del/2017 : Asstt. Year : 2008-09 Ita No. 5858/Del/2017 : Asstt. Year : 2009-10 Acit, Vs Sh. Harvansh P. Chawla, Central Circle-5, 707, Kailash Building, 26, K.G. New Delhi Marg, New Delhi-110001 (Appellant) (Respondent) Pan No. Addpc7559G Assessee By : Sh. Rohit Tiwari, Adv. Revenue By : Ms. Sunita Singh, Cit Dr Date Of Hearing: 21.01.2021 Date Of Pronouncement: 26.04.2021

For Appellant: Sh. Rohit Tiwari, AdvFor Respondent: Ms. Sunita Singh, CIT DR
Section 143(3)Section 14ASection 24

…source of source, particularly in a case where the person who gave the loan is an existing income-tax assessee. The assessed further rely on following case laws: a. Prakash Industries Ltd. vs ACIT (2008) 16 DTR (Del) b. S.K Jain vs Income Tax Officer (2004) 2 SOT 579 (Agra) (vii) Further, different High Courts in following cases observed, where the Appellate Tribunal accepted that money represented by the cash credit in the account books of partnership was brought in to the firm by the financing partner, no part of that amount could be held to be revenue income of the partnership and the incorrectness of the e…

ACIT, Central Circle- 5, New Delhi vs. Harvansh P Chawla, New Delhi

ITA 5857/DEL/2017[2008-09]Status: DisposedITAT Delhi26 Apr 2021AY 2008-09

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5857/Del/2017 : Asstt. Year : 2008-09 Ita No. 5858/Del/2017 : Asstt. Year : 2009-10 Acit, Vs Sh. Harvansh P. Chawla, Central Circle-5, 707, Kailash Building, 26, K.G. New Delhi Marg, New Delhi-110001 (Appellant) (Respondent) Pan No. Addpc7559G Assessee By : Sh. Rohit Tiwari, Adv. Revenue By : Ms. Sunita Singh, Cit Dr Date Of Hearing: 21.01.2021 Date Of Pronouncement: 26.04.2021

For Appellant: Sh. Rohit Tiwari, AdvFor Respondent: Ms. Sunita Singh, CIT DR
Section 143(3)Section 14ASection 24

…source of source, particularly in a case where the person who gave the loan is an existing income-tax assessee. The assessed further rely on following case laws: a. Prakash Industries Ltd. vs ACIT (2008) 16 DTR (Del) b. S.K Jain vs Income Tax Officer (2004) 2 SOT 579 (Agra) (vii) Further, different High Courts in following cases observed, where the Appellate Tribunal accepted that money represented by the cash credit in the account books of partnership was brought in to the firm by the financing partner, no part of that amount could be held to be revenue income of the partnership and the incorrectness of the e…

Shri Prem Chand Tapen G-183, Neha Plastic Industries, G-183, Riico Industrial Area, Bagru, Jaipur Jajas Than, Jaipur vs. ITO Ward-7(2), Jaipur, Ward-7(2)

ITA 620/JPR/2019[2012-13]Status: DisposedITAT Jaipur27 Oct 2020AY 2012-13
For Appellant: Sh. R. N. Sharma (Adv.)For Respondent: Smt. Runi Pal (Addl. CIT)
Section 131Section 69

…cannot be considered as unaccounted monies being the purpose for which the provision was introduced and also the bank statements are very much subject to scrutiny of the department. In support, reliance was placed on decision in case of S.K.Jain Vs ITO (2004) 2 SOT 579 (Agra). Thus, it had become fairly settled law that assessee is not required to satisfy the Assessing Authority of the source of source. The appellant had duly discharged the onus cast on him in respect of cash credits. It was for the AO to prove that the cash credits were not genuine through further inquiries, which he failed to do. 12. As regard…

ITO Ward-7(2), Jaipur, Ward-7(2) vs. Shri Prem Chand Tepan S/O Goma Ram Khatik, Prop. M/S. Neha Plastic Industries, Riico Indu. Area, 183, Mahala Bagru, Jaipur

ITA 619/JPR/2019[2012-13]Status: DisposedITAT Jaipur27 Oct 2020AY 2012-13
For Appellant: Sh. R. N. Sharma (Adv.)For Respondent: Smt. Runi Pal (Addl. CIT)
Section 131Section 69

…cannot be considered as unaccounted monies being the purpose for which the provision was introduced and also the bank statements are very much subject to scrutiny of the department. In support, reliance was placed on decision in case of S.K.Jain Vs ITO (2004) 2 SOT 579 (Agra). Thus, it had become fairly settled law that assessee is not required to satisfy the Assessing Authority of the source of source. The appellant had duly discharged the onus cast on him in respect of cash credits. It was for the AO to prove that the cash credits were not genuine through further inquiries, which he failed to do. 12. As regard…

Shri Mujaffar Hussen, Jaipur vs. Income Tax Officer, Jaipur

In the result, the appeal of the assessee is allowed

ITA 290/JPR/2018[2012-13]Status: DisposedITAT Jaipur05 Jul 2018AY 2012-13

Bench: The Hon'Ble Tribunal For Condonation Of The Short Delay In Submission Of The Appeal.’’

For Appellant: Shri Yogesh Kumar Sharma, CAFor Respondent: Smt. Poonam Rai, DCIT - DR
Section 44ASection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,o Jh HkkxpUn] ys[kk lnL; lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, AM vk;dj vihy la-@ITA No. 290/JP/2018 fu/kZkj.k o"kZ@Assessment Year: 2012-13 cuke Shri Mujaffar Hussain The ITO Vs. Prop: M.S. Steel, Labhi Bazar Ward- 7(2) Kureshion Ka Mohalla, P.O. Chaksu, Jaipur Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABPPH 8827 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by: Shri Yogesh Kumar Sharma, CA jktLo dh vksj ls@ Revenue b…

S.K.Jain v. ITO (2 SOT 579) — Cited in 7 Judgments | BharatTax