How many judgments cite Sumati Dayal v. CIT?

1,967 judgments on BharatTax cite Sumati Dayal v. CIT (214 ITR 801), spanning 2010 to 2026.

Which sections of the Income Tax Act does Sumati Dayal v. CIT come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 147, Section 148, Section 142(1), Section 115BBE.

Sumati Dayal v. CIT

214 ITR 801Supreme Court of India1995#12 most cited

What is Sumati Dayal v. CIT authority for?

The Revenue is entitled to look behind the apparent form of a transaction to discover its true nature, applying the test of human probabilities and surrounding circumstances. If transactions defy logic or are unnatural, they can be treated as bogus, even if supported by some documentation, especially in cases of cash credits or unexplained investments.

1,967

judgments rely on this decision, according to BharatTax’s citation analysis of 367,518 Indian tax judgments — from 2010 to 2026.

Also referred to as

Sumati Dayal v CIT · Section 68 · human probabilities · genuineness of transaction · true nature of transaction · accommodation entry · bogus capital gains · penny stock · look behind apparent form · preponderance of probability · colourable device · unexplained loans

Also reported as

80 Taxmann 89125 CTR 124

Sections most often in play

Section 68 Section 143(3)Section 147 Section 148 Section 142(1)Section 115BBE Section 69C Section 69A

Read the full judgment

Issues it is cited on

price rigging colourable device preponderance of probability bogus ltcg penny stock section 10(38)entry operator addition under section 68 addition u/s 68 genuineness of the transaction accommodation entry share application money

Judgments citing Sumati Dayal v. CIT

Shardashree Ispat Ltd., Nagpur vs. Deputy Commissioner of Income Tax, Circle-3, Nagpur

Appeal is dismissed in above terms

ITA 166/NAG/2021[2012-13]Status: DisposedITAT Nagpur08 Dec 2022AY 2012-13

Bench: Shri S.S. Godara & Shri Dr. Dipak P. Ripote"नधा"रण वष" / Assessment Year : 2012-13

Section 133(6)Section 250Section 68

…e above discussion the addition of the AO is confirmed and the appeal of the assessee is dismissed. 3A. We find merit in the Revenue’s vehement arguments supporting the impugned addition. Hon’ble apex court’s landmark judgment n Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC) and CIT Vs. Durga Prasad More (1972) 82 ITR 540 (SC) as well as PCIT Vs. NRA Iron and Steel Ltd. (2010) 412 ITR 161 (SC) have settled law that all the corresponding evidence(s) submitted in income-tax proceedings ought 5 Shardashree Ispat Limited to be examined in the light of human probabilities, after removing all blinkers. And that me…

Rupesh Vyas, Indore vs. The ACIT3(1), Indore

In the result, this appeal of assessee is dismissed

ITA 909/IND/2018[2014-15]Status: DisposedITAT Indore07 Dec 2022AY 2014-15

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

…at genuineness could validly be tested on the ground or principle of preponderance of human probabilities, which could thus form a valid ground or parameter for determining. the genuineness, stands since settled by the apex court in Sumati Dayal v. CIT (1995) 214 ITR 801 (SC) wherein the apex court, in declaring the transaction as non-genuine, discarded a host of documentary Page 5 of 21 Shri Rupesh Vyas Assessment year 2014-15 evidences filed or relied upon by the assessee-appellant. That documentary evidences are not by themselves conclusive, and the truth of the matter or the documents could be determined o…

Rakhi Dineshkumar Runwal, Jalna vs. Income-Tax Officer, Ward - 1, Jalna

In the result, the appeal filed by the assessee stands dismissed

ITA 1821/PUN/2018[2015-16]Status: DisposedITAT Pune07 Dec 2022AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.1821/Pun/2018 िनधा"रण वष" / Assessment Year: 2015-16 Rakhi Dineshkumar Runwal, Vs. Ito, Ward-1, Jalna. 72, Satyam, Preetisudha Nagar, Mantha Road, Jalna- 431203. Pan : Afzpr4123B Appellant Respondent Assessee By None : Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 25.11.2022 Date Of Pronouncement : 07.12.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 1, Aurangabad [‘The Cit(A)’] Dated 27.09.2018 For The Assessment Year 2015-16. 2. Briefly, The Facts Of The Case Are That The Appellant Is An Individual. The Return Of Income For The Assessment Year 2015-16 Was Filed On 27.11.2015 Disclosing Total Income Of Rs.423/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward-1, Jalna (‘The Assessing Officer’) Vide Order Dated 30.12.2017 Passed U/S 143(3) Of The Income Tax

For Respondent: Shri Ramnath P. Murkunde

Section 10(38)Section 143(3)

…68 of the Act. Even on appeal before the ld. CIT(A), the conclusion reached by the Assessing Officer was confirmed invoking the doctrine of human probabilities placing reliance on the decision of the Hon’ble Supreme Court in the case of Sumati Dayal vs. CIT, 214 ITR 801 (SC) and CIT vs. Durga Prasad More, 82 ITR 540 (SC). This finding of the ld. CIT(A) confirming the action of the Assessing Officer is under challenge before us contenting that the appellant had discharged the onus of proving the genuineness of transactions of capital gains in respect of exemption u/s 10(38) of the Act. In a case involving identic…

Lokpriya Trade and Agency Pvt. Ltd., Kolkata vs. I.T.O., Ward-6(2), Kolkata

In the result, the appeal filed by the assessee is dismissed

ITA 1507/KOL/2019[2013-14]Status: HeardITAT Kolkata07 Dec 2022AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(2)Section 144Section 250Section 68

…worthiness of the shareholders and the genuineness of the transaction and therefore, following the ratio laid down by the Hon’ble Supreme Court in the case of CIT vs. Durga Prasad More reported in 82 ITR 540 and in the case of Sumati Dayal vs. CIT reported in 214 ITR 801 made the addition for the unexplained security premium u/s 68 of the Act and also disallowed the expense of 9,077/- and framed the best judgment u/s 144 of the Act on 29.03.2016 assessing the income at Rs. 19,17,39,080/-. 5. Aggrieved, the assessee preferred appeal before ld. CIT(A) and on four occasions failed to appeal and notices sent through…

Rupesh Vyas, Indore vs. The ACIT3(1), Indore

In the result, this appeal of assessee is dismissed

ITA 50/IND/2020[150-16]Status: DisposedITAT Indore06 Dec 2022

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

…at genuineness could validly be tested on the ground or principle of preponderance of human probabilities, which could thus form a valid ground or parameter for determining. the genuineness, stands since settled by the apex court in Sumati Dayal v. CIT (1995) 214 ITR 801 (SC) wherein the apex court, in Page 5 of 26 Shri Rupesh Vyas Assessment year 2015-16 declaring the transaction as non-genuine, discarded a host of documentary evidences filed or relied upon by the assessee-appellant. That documentary evidences are not by themselves conclusive, and the truth of the matter or the documents could be determined o…

Parmanand Sachdev, Indore vs. ITO 5(5), Indore

In the result, this appeal of assessee is dismissed

ITA 609/IND/2019[2014-15]Status: DisposedITAT Indore01 Dec 2022AY 2014-15

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

Section 10(38)Section 143(2)Section 143(3)Section 250Section 68

…ra No. 4.10 the assessment-order. However, the Ld. AO was not satisfied with the submission of assessee and relying upon following decisions favouring Revenue, the Ld. AO made twin- additions as mentioned in the beginning: (a) M/s Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC) (b) Shammin Varmani, ITA No. 4906/Mum/2011 (c) Ziauddin A. Siddique ITA No. 4699 and 4700/Mum/2011 12. During first appellate proceeding, the assessee submitted a detailed reply to Ld. CIT(A) reiterating almost same submissions as made before Ld. AO but with the support of some more judicial precedents. However, the assessee did not find an…

Dy.C.I.T. Cent. Cir-6(2), Mumbai vs. Shri Dilip B.Jiwrajka, Mumbai

In the result, the Cross Objections for AYs 2012-13 & 2013-14

ITA 2349/MUM/2021[2012-13]Status: DisposedITAT Mumbai29 Nov 2022AY 2012-13

Section 132Section 143(2)Section 153ASection 68Section 69C

…rposes of routing the unaccounted income of beneficiaries into their regular books of accounts. In support of his argument, the AO relied upon decision of Hon'ble SC in the case of CIT Vs Durga Prasad More (1971) 82 ITR 540 (SC) and Sumati Dayal Vs CIT (1995) 214 ITR 801 (SC).  The AO further noted that funds, inter alia also raised from the assessee, was through preferential allotment which have not been used for any business expansion but have been further advanced as loans and investments. According to him, this act of preferential allotment was a pre- arranged and a managed process so as to allot preferent…

Jayesh Sunilkumar Bhandari, Nashik vs. Income-Tax Officer, Ward - 1 (1), Nashik

In the result, the appeal filed by the assessee stands dismissed

ITA 284/PUN/2019[2014-15]Status: DisposedITAT Pune28 Nov 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.284/Pun/2019 िनधा"रण वष" / Assessment Year: 2014-15 Jayesh Sunilkumar Bhandari, Vs. Ito, Ward-1(1), Nashik. Shop No.5 & 6 Pushpum, Plaza Jijamata Road, Saraf Bazar, Near Dhahi Pool, Nashik- 422001. Pan : Anzpb5202D Appellant Respondent Assessee By : None Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 21.11.2022 Date Of Pronouncement 28.11.2022 : आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 1, Nashik [‘The Cit(A)’] Dated 10.12.2018 For The Assessment Year 2014-15. 2. Briefly, The Facts Of The Case Are That The Appellant Is An Individual Deriving Income From The Business Of Dealing In Gold. The Return Of Income For The Assessment Year 2014-15 Was Filed On 30.11.2014 Disclosing Total Income Of Rs.13,78,310/-. Against The Said Return Of Income, The Assessment Was Completed By The Income

For Appellant: NoneFor Respondent: Shri Ramnath P. Murkunde

Section 10(38)Section 143(3)Section 5

M/S Silvertoss Realtors Pvt. Ltd., Kolkata vs. I.T.O., Ward-9(4), Kolkata

In the result, the appeal filed by the assessee is allowed

ITA 2282/KOL/2019[2012-13]Status: DisposedITAT Kolkata28 Nov 2022AY 2012-13

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 131Section 133(6)Section 143(2)Section 143(3)Section 250Section 68

…d to prove the identity as well as creditworthiness of the share holders and applying the ratio laid down by the Hon’ble Supreme Court of India in the case of CIT vs. Durga Prasad More reported in 82 ITR 540 and in the case of Sumati Dayal vs. CIT reported in 214 ITR 801, added the share capital contribution of Rs. 3,03,90,000/- as income of the assessee invoking the provisions of Section 68 of the Act and assessed the income at Rs. 3,03,91,630/-. 4. Aggrieved, the assessee preferred appeal before ld. CIT(A) but failed to succeed. The assessee filed complete details of documents of each share holder company inclu…

Aditya Saraf, New Delhi vs. ITO, Ward-17(4), New Delhi

In the result, the appeal of the assessee is dismissed

ITA 7812/DEL/2018[2014-15]Status: DisposedITAT Delhi24 Nov 2022AY 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2014-15 Aditya Saraf Vs. Ito, Ward-17(4) B-45, Inder Puri, New Delhi. New Delhi - 110 012 Pan Awwps1249K (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Shri Kanav Bali, Sr. DR

Section 10(38)Section 131(1)Section 143(1)Section 68Section 69C

…r trading and sale and purchase of the scrip have all been part of this edifice to convert unaccounted money into accounted one by following the above modus operendi. 6. The Ld. AO referred to the decision of the Hon’ble Supreme Court in Sumati Dayal vs. CIT 214 ITR 801 (SC) which laid down the “test of human probabilities” for drawing inference where chances of discovering direct and clinching evidence are remote. He also referred to several other judgments to arrive at the conclusion that the amount of Rs. 65,65,909/- introduced / credited by the assessee out of the purported share sale receipts in his capital…

Smt. Mayuri P. Patel, Vadodara vs. The ITO, Ward-1(3)(2), Vadodara

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 92/AHD/2020[2012-13]Status: DisposedITAT Ahmedabad23 Nov 2022AY 2012-13

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita No. 92/Ahd/2020 िनधा"रण वष"/Asstt. Year: 2012-2013 Smt. Mayuri P. Patel, Income Tax Officer, Prof. Of Ar Chem Industries 15, Vs. Ward-1(3)(2), Neelkanth Society, Vadodara. B/H Sama Road, Vadodara-390002. Pan: Aqhpp7772K

For Appellant: Shri Vipul Shah, with Shri Rajesh, Sharma, A.RsFor Respondent: Shri Leena Lal, Sr. D.R

Section 131(1)Section 68

…ove the genuineness. As such the same should also be proved by circumstantial surrounding evidences as A.Y. 2012-13 10 held by the Hon’ble Supreme court in the case of Shri Durga Prasad More reported in 82 ITR 540 and in case of Smt. Sumati Dayal reported in 214 ITR 801. 11.3 The last stage comes to verify the creditworthiness of the parties. The term creditworthiness as per Black Law Dictionary refers as: "creditworthy, adj. (1924) (Of a borrower) financially sound enough that a lender will extend credit in the belief default is unlikely; fiscally healthy-creditworthiness.” 11.4 Similarly in The New Lexicon Web…

Exim Scrips Dealers Pvt Ltd, Kolkata vs. ITO Ward-5(3), Kolkata

In the result, appeal of the assessee is dismissed

ITA 502/KOL/2020[2015-16]Status: DisposedITAT Kolkata23 Nov 2022AY 2015-16

Bench: Shri Sanjay Garg, Hon’Ble & Shri Manish Borad, Hon’Blei.T.A. No. 502/Kol/2020 Assessment Year: 2015-16 Exim Scrips Dealers Pvt. Ltd. Income Tax Officer, Ward-5(3), 412, Mukti Chambers Kolkata Vs 4Th Floor 4, Clive Row Kolkata - 700001 [Pan : Aaace6906E] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Girish Sharma, Fca Revenue By : Shri Biswanath Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 27/09/2022 घोषणा क" तारीख/Date Of Pronouncement : 23/11/2022 आदेश/O R D E R Per Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Principal Commissioner Of Income Tax (Appeals) - 2, Kolkata (Hereinafter The “Ld. Pr. Cit”) Dt. 10/06/2020, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act’), For Assessment Year 2015-16. 2. This Assessee’S Appeal Is Time Barred By 43 Days. Petition For Condonation Of Delay Has Been Filed. We Have Heard Both The Sides & Find That There Is Reasonable Cause For Delay In Filing Of The Appeal On Time. Hence We Condone The Delay & Admit The Appeal For Hearing.

For Appellant: Shri Girish Sharma, FCAFor Respondent: Shri Biswanath Das, CIT, D/R

Section 143(2)Section 143(3)Section 14ASection 263Section 68

…the ITAT Delhi Bench in the case of Sneh Lata Garg vs DCIT, CC-5, New Delhi in ITA No. 2007/Del/2019; Assessment Year 2015-16, order dt. 06/01/2020. Reliance was also placed on the decision of the Hon’ble Supreme Court in the case of Sumathi Dayal reported in 214 ITR 801 (SC) and M/s. Durga Prasad More reported in 82 ITR 540. 5. Aggrieved the assessee is in appeal before this Tribunal. 6. The ld. Counsel for the assessee apart from referring to the details filed before the Assessing Officer during the course of assessment proceedings, as enumerated in the paper book containing 219 pages and also referring to anot…

Harsh Keyal, Kolkata vs. I.T.O., Ward-8(3), Kolkata

In the result, the appeal of the assessee is dismissed

ITA 681/KOL/2019[2014-15]Status: DisposedITAT Kolkata23 Nov 2022AY 2014-15

Bench: Shri Sanjay Garg & Dr. Manish Borad

Section 10(38)Section 143(3)

…0/-. 4. Aggrieved, the assessee preferred appeal before the ld. CIT(Appeals), but failed to succeed as the ld. CIT(Appeals) relying on various judicial pronouncements including the judgment of the Hon’ble Supreme Court in the case of Sumati Dayal reported in 214 ITR 801 (SC) and Durga Prasad More reported in 82 ITR 540 (SC) confirmed the finding of the ld. Assessing Officer. 5. Aggrieved, the assessee is now in appeal before this Tribunal. 6. Ld. Counsel for the assessee referring to the paper book containing 45 pages stated that the transactions of long-term capital gain were genuine duly supported by Contrac…

Dy.Comm of Income Tax Central Circle 5(1), Mumbai vs. M/S. Arch Pharmalabs Ltd, Mumbai

In the result of the Revenue Appeal is dismissed

ITA 1722/MUM/2022[2017-18]Status: DisposedITAT Mumbai23 Nov 2022AY 2017-18

Bench: Shri Amit Shukla, Jm & Shri S Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.1722/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2017-18) Dy. Comm Of Income M/S. Arch Pharmalabs Tax Central Circle Ltd Mumbai 5(1) Mumbai 3Rdfloor, Titanic Bldg, बिधम/ Room No.1928, Chandivali Farm Road, Vs. 19Th Floor, Air India Bldg. Malegaon, Nariman Point, Mumbai Maharashtra 400072 Maharashtra,400021 स्थायीलेखासं./जीआइआरसं./Pan No Aaccm0306Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ : Shri Madhur Agarwal Appellant By प्रत्यथीकीओरसे/Respondent : Shri. Manoj Sinha, Sr.Ar. By सुनवाईकीतारीख/ : 20.10.2022 Date Of Hearing घोषणाकीतारीख / : 23.11.2022 Date Of Pronouncement आदेश / O R D E R

For Respondent: Shri. Manoj Sinha, Sr.AR

Section 133(6)Section 143Section 143(3)Section 147Section 148Section 148ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JM & SHRI S RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No.1722/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2017-18) DY. COMM OF INCOME M/s. ARCH PHARMALABS TAX CENTRAL CIRCLE LTD MUMBAI 5(1) MUMBAI 3rdFloor, Titanic Bldg, बिधम/ Room NO.1928, Chandivali Farm Road, Vs. 19th Floor, Air India Bldg. Malegaon, Nariman Point, Mumbai Maharashtra 400072 Maharashtra,400021 स्थायीलेखासं./जीआइआरसं./PAN No AACCM0306Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ : Shri Madhur Agarwal Appellant by प्रत्यथीकीओरसे/Respondent : Shri. Manoj Sin…

ACIT Central Circle-1, Jaipur vs. Mahendra Kumar Agarwal, Jaipur

In the result, appeal of the revenue is dismissed

ITA 172/JPR/2022[ABUPK2500L]Status: DisposedITAT Jaipur22 Nov 2022

For Appellant: Shri Kapil Khejrolia (CA)For Respondent: Shri A.S. Nehra (Addl. CIT) fu/kZkfjrh dh vksj ls@

Section 115BSection 143(2)Section 143(3)Section 68

…o establish the genuineness of high cash sales. 2.3 while granting relief to the assessee, the learned CIT Appeals has ignored the test of human probability and surrounding circumstances as laid down by the Honorable Supreme Court in the cases of Sumati Dayal 214 ITR 801 SC, and Durga Prasad More 82 ITR 540 SC. 3. The learned CIT appeal has erred in law and on facts in holding the income to be not taxable as per provisions of Sec. 115BBE of IT Act, 1961. 4. The learned CIT Appeal while granting relief has ignored that the taxpayer was involved in an activity against public policy. 5. The Appellant crave, leave or…

Abhishek Ashok Lohade, Nashik vs. Income-Tax Officer, Ward - 1(5), Nashik

In the result, the appeal filed by the assessee stands dismissed

ITA 816/PUN/2018[2014-15]Status: DisposedITAT Pune22 Nov 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.816/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Abhishek Ashok Lohade, Vs. Ito, Ward-1(5), Nashik. 15, Subharda Hsg. Soc., Opp. Circle Cinema, Ashok Stambh, Nashik-422001. Pan : Acepl6296R Appellant Respondent Assessee By : None Revenue By : Shri Ramnath P Murkunde Date Of Hearing : 14.11.2022 Date Of Pronouncement : 22.11.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Nashik [‘The Cit(A)’] Dated 21.03.2018 For The Assessment Year 2014-15. 2. Briefly, The Facts Of The Case Are That The Appellant Is An Individual Deriving Income From The Execution Of Contracts Etc. The Return Of Income For The Assessment Year 2014-15 Was Filed On 31.03.2015 Disclosing Total Income Of Rs.3,13,680/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward-1(5), Nashik (‘The Assessing Officer’) Vide Order Dated 28.12.2016 Passed U/S 143(3) Of The Income Tax Act, 1961

For Appellant: NoneFor Respondent: Shri Ramnath P Murkunde

Section 10(38)Section 143(3)

M/S. Kopran Ltd, Mumbai vs. DCIT -7(1), Mumbai

In the result appeal of the assessee is allowed for statistical purposes

ITA 501/MUM/2022[2014-15]Status: DisposedITAT Mumbai21 Nov 2022AY 2014-15

Bench: Shri Prashant Maharishi, Am & Shrisandeep Singh Karhail, Jm M/S Kopran Ltd. 1St Floor, Parijat House, The Dcit–7(1) 1076, Mumbai Vs. Dr. E Moses Road,Worli, Mumbai-400 018 (Respondent) (Appellant) Pan No. Aaack3202D Assessee By : S/Shri Vijay Mehta & Bhupendra Karkhanis, Ars Revenue By : Shri Tejinder Pal Singh, Dr Date Of Hearing: 23.08.2022 Date Of Pronouncement : 21.11.2022

For Appellant: S/Shri Vijay Mehta &For Respondent: Shri Tejinder Pal Singh, DR

Section 133Section 143Section 68

…, the Tribunal can consider probabilities properly arising from the facts alleged or proved and by doing so the Tribunal does not indulge in conjectures, surmises or suspicions. The Apex Court expressed a similar view in the case of Sumati Dayal v. CIT [1995] 214 ITR 801 / 80 Taxman 89 (SC) and held that the decision of an adjudicating body based on surrounding circumstances and human probabilities is not bad in law and deserves to be upheld. In the case of McDowell & Co. Ltd. v. CTO [1985] 154 ITR 148 /22 Taxman 11. the Apex Court held that colourable devices not part of legitimate tax planning. are ME TAX DEPAR…

Deputy Commissioner of Income Tax 13(2)(2), Mumbai vs. Sun Metallics & Alloys Private Limited, Mumbai

In the result, ITA No. 2628/Mum/2018 for A

ITA 2629/MUM/2018[2013-14]Status: DisposedITAT Mumbai21 Nov 2022AY 2013-14

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Sh. K.Shivaram, Sr. Adv. &For Respondent: Sh. Satyapal Kumar, Sr. DR

Section 68

…ircumstances and human probabilities which are visible from the facts on record in order to unearth bogus transactions as per findings returned by Hon’ble Apex Court in case of CIT vs. Durga Prasad More 1971 82 ITR 540 (SC) and in case of Sumati Dayal vs. CIT 214 ITR 801 (SC). In case of Sumati Dayal (supra) Hon’ble Apex Court has held that in such circumstances, tax authorities are entitled to look into the surrounding circumstances to find out the reality and matter has to be considered by applying the test of human probabilities. 24. In the light of above discussion, we are of the considered view that the Ld.…

Deputy Commissioner of Income Tax 13(2)(2), Mumbai vs. Sun Metallics & Alloys Private Limited, Mumbai

In the result, ITA No. 2628/Mum/2018 for A

ITA 2628/MUM/2018[2012-13]Status: DisposedITAT Mumbai21 Nov 2022AY 2012-13

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Sh. K.Shivaram, Sr. Adv. &For Respondent: Sh. Satyapal Kumar, Sr. DR

Section 68

The Dy. Commr. of Income Tax, Cir.-2, Rajkot-Gujarat vs. Shri Hareshkumar Manilal Somaiya, Jamnagar

In the result, the appeal of the Revenue is hereby dismissed

ITA 191/RJT/2017[2012-13]Status: DisposedITAT Rajkot16 Nov 2022AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmed, आयकर अपील सं./Ita No. 191/Rjt/2017 िनधा"रण वष"/Asstt. Years: 2012-2013 D.C.I.T., Shri Hareshkumar Manilal Somaiya, Circle-2, Vs. Prop Of Rohit Trading Co., Jamnagar. 3-B, Milap Chamber, Grain Market, Jamnagar.

For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri Sanjay Punglia, CIT. D.R

Section 144Section 194ASection 68

…sufficient to prove the genuineness. As such, the same should also be proved by circumstantial surrounding evidences as held by the Hon’ble Supreme court in the case of Shri Durga Prasad More reported in 82 ITR 540 and in case of Smt. Sumati Dayal reported in 214 ITR 801. 12.3 The last stage comes to verify the creditworthiness of the parties. The term creditworthiness as per Black Law Dictionary refers as: "creditworthy, adj. (1924) (Of a borrower) financially sound enough that a lender will extend credit in the belief default is unlikely; fiscally healthy-creditworthiness.” 12.4 Similarly in The New Lexicon Web…