Sripal Satyapal v. ITO

217 CTR 337High Court2008#17300 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2024.

Sections most often in play

Section 1930Section 1961Section 2(4) of the Sale of Goods ActSection 43(5) of the Income Tax Act

Issues it is cited on

section 43(5)speculative transactionsection 28section 43income from other sourcestransfercompanysection 14indiabusinessdocument

Judgments citing Sripal Satyapal v. ITO

EMPIRE MULTITRADE PRIVATE LIMITED,MUMBAI vs. DCIT-12(2)(1), AAYKAR BHAVAN MUMBAI

In the result, appeal filed by the assessee stands allowed

ITA 1363/MUM/2024[2014-15]Status: DisposedITAT Mumbai12 Dec 2024AY 2014-15

Bench: Smt Beena Pillaiassessment Year: 2014-15 Empire Multitrade Dcit- 12(2)(1) Private Limited Room No. 642, A/4, Chandrika Chs 6Th Floor, Ltd., Aaykar Bhavan Vs. Shankar Lane, Maharishi Karve Road, Kandivali (W.), Mumbai- 400020. Mumbai- 400067. Pan: Aabce0444J Appellant : Respondent

For Appellant: RespondentFor Respondent: Ms. Pradnya Gholap (Sr. DR)
Section 142Section 143Section 143(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SMT BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2014-15 Empire Multitrade DCIT- 12(2)(1) Private Limited Room No. 642, A/4, Chandrika CHS 6th Floor, Ltd., Aaykar Bhavan Vs. Shankar Lane, Maharishi Karve Road, Kandivali (W.), Mumbai- 400020. Mumbai- 400067. PAN: AABCE0444J Appellant : Respondent Present for: Assessee by : Shri. Ajay R. Singh Revenue by : Ms. Pradnya Gholap (Sr. DR) Date of Hearing : 02.12.2024 Date of Pronouncement : 12.12.2024 O R D E R Per Beena Pillai, JM: Present appeal arises out of order dated 24/01/2024 passed by LdCIT (A)…

INCOME TAX OFFICER WARD-1(1), BATHINDA vs. M/S APEX FIBRE INDIA LIMITED, BATHINDA

ITA 84/ASR/2020[2016-17]Status: DisposedITAT Amritsar23 Feb 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 145(3)Section 43(5)Section 45(3)

…to some third party, the purchase by the first purchaser cannot be treated as speculative G.H. Crop Science Pvt. Ltd. v. Dy. CIT & Ors transactions. [Page 19 -21 of CIT(A) order]. The CIT (A) has also relied on the judgment of SripalSatyaPal vs. ITO [2008] 217 CTR 337 (Raj.) in which it has been held that catch lies in the fact of taking the physical delivery of the goods by the assessee is not the test for determining the speculative transaction in terms of section 43(5) but the test is settlement of the transaction entered into by the assessee or on his behalf otherwise than by actual delivery of the commodi…

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA vs. M/S G.H. CROP SCIENCE PRIVATE LIMITED , BATHINDA

ITA 56/ASR/2020[2016-17]Status: DisposedITAT Amritsar23 Feb 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 145(3)Section 43(5)Section 45(3)

…to some third party, the purchase by the first purchaser cannot be treated as speculative G.H. Crop Science Pvt. Ltd. v. Dy. CIT & Ors transactions. [Page 19 -21 of CIT(A) order]. The CIT (A) has also relied on the judgment of SripalSatyaPal vs. ITO [2008] 217 CTR 337 (Raj.) in which it has been held that catch lies in the fact of taking the physical delivery of the goods by the assessee is not the test for determining the speculative transaction in terms of section 43(5) but the test is settlement of the transaction entered into by the assessee or on his behalf otherwise than by actual delivery of the commodi…

M/S KEVAL ( INDIA ) LTD,INDORE vs. DCIT-R-1 (1) , INDORE

In the result both the appeals of the assessee ITA No

ITA 653/IND/2017[2007-08]Status: DisposedITAT Indore04 Apr 2019AY 2007-08

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 14ASection 153Section 153ASection 271Section 271(1)(c)Section 43(5)

…re of entire facts and such loss was also supported and explained by documentary evidence. The A.O. incorrectly invoked the provisions of section 43(5) of the Act on the ground that there was no movement of goods. In the case of Sripal Satyapal Vs. ITO (2008) 217 CTR 337 (Raj) it was held that "Facts of taking the physical delivery of the goods by the assessee is not the test for determining the speculative transaction in terms of section 43(5) but the test is settlement of the transaction entered into by the assessee or on his Keval (India) Ltd ITA No.652 & 653/Ind/2017 behalf otherwise shown by actual delivery…

M/S KEVAL (INDIA) LTD,INDORE vs. DCIT-R 1(1) , INDORE

In the result both the appeals of the assessee ITA No

ITA 652/IND/2017[2005-06]Status: DisposedITAT Indore04 Apr 2019AY 2005-06

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Section 132Section 14ASection 153Section 153ASection 271Section 271(1)(c)Section 43(5)

…re of entire facts and such loss was also supported and explained by documentary evidence. The A.O. incorrectly invoked the provisions of section 43(5) of the Act on the ground that there was no movement of goods. In the case of Sripal Satyapal Vs. ITO (2008) 217 CTR 337 (Raj) it was held that "Facts of taking the physical delivery of the goods by the assessee is not the test for determining the speculative transaction in terms of section 43(5) but the test is settlement of the transaction entered into by the assessee or on his Keval (India) Ltd ITA No.652 & 653/Ind/2017 behalf otherwise shown by actual delivery…

Sripal Satyapal v. ITO (217 CTR 337) — Cited in 5 Judgments | BharatTax