Shitla Prasad Shyam Lal v. CIT

ACIT, New Delhi vs. Sh. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

…bmitted that the sundry balances written off amounting to Rs.39,50,000/- which has been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become…

Sh. Ashok Mittal, New Delhi vs. Addl. CIT, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

…bmitted that the sundry balances written off amounting to Rs.39,50,000/- which has been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become…

ACIT, New Delhi vs. M/S. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

…bmitted that the sundry balances written off amounting to Rs.39,50,000/- which has been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become…

Ashok Mittal vs. ITO, Ward-24(3)

In the result, the appeals filed by the assessee are partly allowed, the

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

…bmitted that the sundry balances written off amounting to Rs.39,50,000/- which has been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

…loss u/s 28(i) of the Act. The reliance was placed on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

…loss u/s 28(i) of the Act. The reliance was placed on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back…

ACIT, New Delhi vs. M/S. Timex Watches Ltd., New Delhi

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

…loss u/s 28(i) of the Act. The reliance was placed on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back…