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 367,368 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 68Section 143(3)Section 147Section 148Section 142(1)Section 115BBESection 69CSection 69A
Read the full judgment

Issues it is cited on

price riggingcolourable devicepreponderance of probabilitybogus ltcgpenny stocksection 10(38)entry operatoraddition under section 68addition u/s 68genuineness of the transactionaccommodation entryshare application money

Judgments citing Sumati Dayal v. CIT

DCIT Circle-1 vs. Rana Papers Ltd

ITA 2184/DEL/2008[2002-2003]Status: DisposedITAT Delhi15 Nov 2019AY 2002-2003

Bench: Shri H.S. Sidhu & Shri Anadee Nath Misshra

For Appellant: NoneFor Respondent: Shri Sanjog Kapoor, Sr. DR
Section 143(2)Section 143(3)Section 144Section 148Section 68

…transaction was through banking channel, the same proved the genuineness of the transaction cannot not he accepted for the reason that there is no such law. There are large number of Courts decisions wherein this view has been upheld 255 ITR 573, 254 ITR 617, 214 ITR 801 (Sc.) 264 ITR 435 etc. The Calcutta High Court in the case of Bhola Sankar Cold Storage (P) Ltd. vs. JCIT 270 ITR 487 after referring Page 5 of 63 ITA No.- 2184/Del/2008 M/s Rana Papers Ltd. to various decisions held that where payment by cheque is not sacrosanct as it would not make a non genuine transaction as genuine. The burden to prove natu…

Deepak Kumar Gupta & Sons (HUF), Delhi vs. ITO, Ward-63(2), New Delhi

ITA 1236/DEL/2018[2009-10]Status: DisposedITAT Delhi31 Oct 2019AY 2009-10

Bench: Shri H.S. Sidhuassessment Year: 2009-10

Section 142(1)Section 143(1)Section 148

…urga Prasad 82 ITR 540 in which the Hon’ble Supreme Court has held that surrounding circumstances and human probabilities should not be ignored by the Taxing Authorities. The Ld. First Appellate Authority has also applied the ratio of decision of Sumati Dayal 214 ITR 801 (Hon’ble Supreme Court) has again given the importance of human probability and considering the surrounding circumstances. 12. Keeping in view of the facts and circumstances explained above and the order passed by the Revenue Authority along with the documentary evidence filed by the assessee in the shape of Paper Book and the case law. These ar…

ITO - 19(3)(3), Mumbai vs. Shripal G. Jain, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3011/MUM/2018[2010-11]Status: DisposedITAT Mumbai29 Oct 2019AY 2010-11

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Bleincome Tax Officer – 19(3)(3) V. Shri Shripal G. Jain Room No. 219, 2Nd Floor 88-92, 1St Pathan Street Matru Mandir, Tardev Road Mumbai – 400 004 Mumbai – 400 007 Pan: Adlpj8781H (Appellant) (Respondent) Assessee By : Shri Rajesh Chamaria Department By : Shri Chaudhary Arunkumar Singh

For Appellant: Shri Rajesh ChamariaFor Respondent: Shri Chaudhary Arunkumar Singh
Section 133(6)Section 143(1)Section 143(3)Section 69C

…erson who makes me claim and not on the Revenue as being made out by the Ld. AR in his submission. While dealing with the issue of deciding the burden of proof, Hon'ble Supreme Court in the cases of CIT Vs; Durgaprasad More 82 ITR 540 and Sumati Dayal Vs. CIT 214 ITR 801 has held that the apparent must be considered real until it is shown that there are reasons to believe that the apparent is not real and that Taxing Authorities are entitled to look Into surrounding circumstances to find out the reality and the matter has to be considered by applying the test of human probabilities. The Hon'ble court also held th…

Shri Dinesh Laduramji Choudhary, Surat vs. The Income Tax Officer, Ward-5(1), ( New Ward-2(2)(1), Surat

In the result, appeal of the assessee is partly allowed

ITA 1144/AHD/2015[2009-10]Status: DisposedITAT Surat25 Oct 2019AY 2009-10

Bench: Shri Amarjit Singh & Shri O.P.Meenaआ.अ.सं./I.T.A No.1144/Ahd/2015 "नधा"रण वष"/Assessment Year: 2009-10 Shri Dinesh Laduramji Vs The Income Tax Officer, Choudhary, 1051-52, Adarsh . Ward-5(1), Surat. Market-2, Ring Road, (New Ward -2(2)(1), Surat) Surat – 395 002. [Pan: Afepc 9017 Q] अपीलाथ" / Appellant ""यथ"/Respondent

Section 131Section 68

…or two days before. Therefore, the ld.CIT(A) concluded that nothing has been brought on record that the depositors were having sufficient bank balance on hand, accordingly applying the surrounding circumstances and relying on decision of Sumata Dayal vs. CIT 214 ITR 801 (SC), the addition made by the Assessing Officer was confirmed. 11. Being aggrieved, the assessee filed this appeal before this Tribunal. The ld.Counsel for the assessee referred para 9.3 of these appellate order and submitted that the Assessing Officer in his second remand report dated 18.07.2013 has clearly stated that vide para 4 that “with a…

ACIT Non Corporate Circle 4, Coimbatore vs. Sri Balaji Real Estates, Pollachi

In the result, the appeal filed by the assessee in ITA

ITA 3148/CHNY/2018[2012-13]Status: DisposedITAT Chennai24 Oct 2019AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

ACIT Non Corporate Circle 4, Coimbatore vs. Sri Balaji Real Estates, Pollachi

In the result, the appeal filed by the assessee in ITA

ITA 2545/CHNY/2018[2012-13]Status: DisposedITAT Chennai24 Oct 2019AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

ACIT Non Corporate Circle 4, Coimbatore vs. Sri Balaji Real Estates, Pollachi

In the result, the appeal filed by the assessee in ITA

ITA 2544/CHNY/2018[2011-12]Status: DisposedITAT Chennai24 Oct 2019AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

Sri Balaji Real Estates, Pollachi vs. ACIT, Coimbatore

In the result, the appeal filed by the assessee in ITA

ITA 1238/CHNY/2017[2011-12]Status: DisposedITAT Chennai24 Oct 2019AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

Sri Balaji Real Estates, Pollachi vs. ACIT, Coimbatore

In the result, the appeal filed by the assessee in ITA

ITA 1237/CHNY/2017[2012-13]Status: DisposedITAT Chennai24 Oct 2019AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

ACIT, Coimbatore vs. Sri Balaji Real Estates, Pollachi

In the result, the appeal filed by the assessee in ITA

ITA 397/CHNY/2016[2011-12]Status: DisposedITAT Chennai24 Oct 2019AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao] आयकर अपील सं./I.T.A. Nos.397/Chny/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment Years :2011-12, 2011-12, 2012-13 & 2012-13

For Appellant: Shri. D. Anand, AdvocateFor Respondent: Shir. S. Bharath, IRS, CIT
Section 139Section 147Section 148

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ A’ BENCH : CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" [BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER] आयकर अपील सं./I.T.A. Nos.397/CHNY/2016, 2544, 2545 & 3148/2018 "नधा"रण वष" /Assessment years :2011-12, 2011-12, 2012-13 & 2012-13 The Assistant Commissioner Vs. M/s. Sri Balaji Real Estates, of Income Tax, 7, Kuppusamy Street, Non Corporate Circle 4, Pollachi 642 001. Coimbatore. [PAN ABVFS 1678J] आयकर अपील सं./I.T.A. Nos.1237 & 1238/CHNY/2017. "नधा"…

ITO 12(3)(1), Mumbai vs. Krish Micro System Pvt. Ltd., Mumbai

In the result, appeal of the revenue is dismissed

ITA 6132/MUM/2018[2010-11]Status: DisposedITAT Mumbai23 Oct 2019AY 2010-11

Bench: Shri Shamim Yahya (Am) & Shri Pawan Singh (Jm) Income-Tax Officer Vs M/S Krish Micro System Pvt Ltd Ward 12(3)(1), Mumbai 204, Spring Leaf Chsl, Lokhandwala, Kandivali (E) Mumbai400 101 Pan : Aacck6090R Appellant Respondednt

Section 133(6)Section 143(1)Section 143(2)Section 147Section 148

…est with regard to genuineness of the transaction is "Preponderance of Probabilities" and not "Beyond reasonable doubt". Reliance is placed on C. Vasantlal & Co. Vs. CIT (1962) 45 ITR 206 (SC), Chaturbhuj Panauj AIR 1969 (SC) and Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC). One has to consider the totality of facts, surrounding circumstances and human probability for arriving at a conclusion as held in CIT Vs. Durga Prasad 82 ITR 540 (SC) and Sumati Dayal Vs. CIT (1995) 214 ITR 801 (SC). (ix) The purchases from hawala operator falls within the ambit of the term 'colorable devices' and the Hon'ble Supreme C…

Hemalatha Rajan, Chennai vs. DCIT Corporate Circle 4(1), Chennai

In the result, the ITA No

ITA 668/CHNY/2019[2009-10]Status: DisposedITAT Chennai17 Oct 2019AY 2009-10

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri. Vikram Vijayaraghavan, AdvFor Respondent: Shri. R. Clement Ramesh
Section 143(3)Section 147

…ord by the Assessing Officer to establish collusion in the transaction. Therefore what is apparent should be believed unless and until the contrary is proved in the light of the judgment of Hon'ble Supreme Court in the case of Sumathi Dayal vs. CIT (1995) 214 ITR 801. Therefore, the Assessing Officer was not justified in treating the contribution paid to the trust as a part of compensation and bringing to tax in the hands of the assessee and his wife. Thus, ground of appeal No.3 filed by the assessee stands allowed. In the result, the ITA No.667/Chny/2019 for assessment year 16. 2009-2010 of Shri. Karuppu…

Karuppusamy Pandiarajan, Chennai vs. DCIT Corporate Circle 4(1), Chennai

In the result, the ITA No

ITA 667/CHNY/2019[2009-10]Status: DisposedITAT Chennai17 Oct 2019AY 2009-10

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri. Vikram Vijayaraghavan, AdvFor Respondent: Shri. R. Clement Ramesh
Section 143(3)Section 147

…ord by the Assessing Officer to establish collusion in the transaction. Therefore what is apparent should be believed unless and until the contrary is proved in the light of the judgment of Hon'ble Supreme Court in the case of Sumathi Dayal vs. CIT (1995) 214 ITR 801. Therefore, the Assessing Officer was not justified in treating the contribution paid to the trust as a part of compensation and bringing to tax in the hands of the assessee and his wife. Thus, ground of appeal No.3 filed by the assessee stands allowed. In the result, the ITA No.667/Chny/2019 for assessment year 16. 2009-2010 of Shri. Karuppu…

M/S. Gopalpur Ports Limited, Cuttack vs. ACIT, Cuttack

In the result, appeal of the assessee is dismissed

ITA 97/CTK/2015[2009-10]Status: DisposedITAT Cuttack14 Oct 2019AY 2009-10

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.97/Ctk/2015 (नििाारण वषा / Assessment Year :2009-2010) M/S Gopalpur Ports Limited, Vs. Acit, Circle-(2), Cuttack Osl Tower, Link Road, Cuttack स्थायी लेखा सं./Panno. : Aaccg 6721 F (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri J.B.Sahu, Advocate िाजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तािीख / Date Of Hearing : 25/09/2019 घोषणा की तािीख/Date Of Pronouncement : 14/10/2019 आदेश / O R D E R Per L.P.Sahu, Am: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Cuttack, Dated 31.12.2014 For The Assessment Year 2009-2010 On The Following Grounds Of Appeal :- 1. That The Order Dated 31.12.2014 Passed By The Ld. Cit (Appeal) In It Appeal No. 0622/2011-12 Is Illegal, Arbitrary & Unsustainable In Law. 2. That The Impugned Addition Of Rs.4,31,15,000/- Representing Share Application Money Of M/S On Track Trading Ltd Purportedly Under Section 68 Of The It Act Is Illegal & Arbitrary. 3. That The Appellant Having Submitted Relevant Evidences With Regard To The Amount Invested By The Said Investing Foreign Company, It Is Not Lawful & Proper To Confirm Addition On The Ground Of Its Want Of Proof Of Credit Worthiness Of The Said Investing Company Which Is Illegal & Arbitrary. 4. That Non Consideration Of The Application Of The Proviso To Section 68 Of The It Act Effective From 01.04.2013 Relied Upon By The Appellant Was Not Considered By Ld. Cit (Appeal) Is Inconsistent With The Relevant Statutory Provisions.

For Appellant: Shri J.B.Sahu, AdvocateFor Respondent: Shri S.M.Keshkamat, CITDR
Section 234Section 68

…tive from 01.04.2013 relied upon by the appellant was not considered by Ld. CIT (Appeal) is inconsistent with the relevant statutory provisions. 2 5. That the decision rendered by the Hon'ble Apex Court relied by the Ld. CIT (Appeal) in Sumati Dayal V/s- CIT 214 ITR 801 (SC) and CIT V/s- DP More 82 ITR 540 (SC) is not applicable to the appellant both in facts and in law therefore the impugned order is unsustainable in law. 6. That the impugned levy of interest under section 234 B and 234 D is illegal and arbitrary. 7. That, the appellant begs to reserve further grounds to be urged at the time of hearing of the a…

M/S. Hillman Properties Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result, appeal of Assessee dismissed

ITA 6530/DEL/2014[2001-02]Status: DisposedITAT Delhi11 Oct 2019AY 2001-02

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri Amit Goel, C.AFor Respondent: Ms. Rakhi Vimal, Sr. D.R
Section 133(6)Section 139(1)Section 147Section 148

…circumstances of the case is not sufficient to prove the genuineness of the transaction in the matter. The Hon’ble Supreme Court in the case of CIT, West Bengal-II vs., Durga Prasad More [1971] 82 ITR 540 [SC] and Smt. Sumati Dayal vs., CIT, Bangalore [1995] 214 ITR 801 [SC] have held that “Courts and Tribunals have to Judge the evidence before them by applying the test of human probability.” If the said test is applied in this matter, it is 28 ITA.No.6530/Del./2014 M/s. Hillman Properties Pvt. Ltd., New Delhi. clearly established that assessee failed to prove identity of the accommodation entry providers, their…

ITO, WD-6(2), Kolkata vs. M/S Iris Commosale Pvt. Ltd., Kolkata

In the result, appeal of the revenue is allowed for statistical purposes

ITA 1206/KOL/2015[2011-2012]Status: DisposedITAT Kolkata04 Oct 2019AY 2011-2012

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A No.1206/Kol/2015 ("नधा"रण वष" / Assessment Year: 2011-12) Ito, Ward-6(2), Kolkata. Vs. M/S. Iris Commosale Pvt. Ltd. 9, Lal Bazar Street, Mercantile Bldg., 3Rd Floor, Kol-1. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacci4952J (Appellant) .. (Respondent)

For Appellant: Shri Aloke Nag, Addl. CIT(DR)For Respondent: Shri P.K. Himmatsinghka, A/R
Section 131Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, AM & SHRI S. S. GODARA, JM आयकर अपीलसं./I.T.A No.1206/Kol/2015 ("नधा"रण वष" / Assessment Year: 2011-12) ITO, Ward-6(2), Kolkata. Vs. M/s. Iris Commosale Pvt. Ltd. 9, Lal Bazar Street, Mercantile Bldg., 3rd Floor, Kol-1. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCI4952J (Appellant) .. (Respondent) Appellant by : Shri Aloke Nag, Addl. CIT(DR) Respondent by : Shri P.K. Himmatsinghka, A/R सुनवाई क" तार"ख/ Date of Hearing : 05/08/2019 घोषणा क" तार"ख/Date of Pronouncement : 04/10/2019 आदेश / O R D E R Per Shri S. S. Godara: This Reven…

Shri Puneet Jain, Meerut vs. ITO, Meerut

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

ITA 1569/DEL/2012[2008-09]Status: DisposedITAT Delhi27 Sept 2019AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri K. Sampat, AdvFor Respondent: Smt. Suleka Verma, CIT-DR
Section 131Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 234ASection 271(1)(c)Section 44A

…l unless it is reverted back to the assessee with material by the Assessing Officer. That position remains unaltered notwithstanding the later observations contextually different in CIT vs. Durga Prasad More (1971) 82 ITR 540 (SC), Sumati Dayal vs. CIT (1995) 214 ITR 801 (SC), Me Dowell & Co. Ltd (1985) 154 ITR 148 (SC). In the given case the Assessing Officer has himself identified the party. All payments were admittedly through account payee cheques. There is no evidence of any abstraction or repayment of those in cheques, in cash or otherwise by the assessee. In such circumstances the invocation of Section 68…

ITO, New Delhi vs. M/S Apple Green Power Ltd., New Delhi

In the result, the Appeal of the Revenue is dismissed

ITA 4354/DEL/2015[2012-13]Status: DisposedITAT Delhi18 Sept 2019AY 2012-13

Bench: Sh. H.S. Sidhu & Shri O.P. Kantassessment Year: 2012-13

Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 68

…32-HC-DEL-IT, dated 07.01.2013 and the case of CIT vs. NR Portfolio Pvt. Ltd. 2013-TIOL- 3 955-HC-DEL-IT dated 22.11.2013 and Hon’ble Apex Court decisions in the case of CIT vs. Durga Prasad More (1971) 82 ITR 540 and Sumati Dayal vs. CIT (1995) 80 Taxman 89/214 ITR 801(SC) & CIT vs. Sri Meenakshi Mills Ltd. 63 ITR 609, has observed that assessee company received accommodation entries Rs. 18,48,00,000/- i.e. from M/s Shirin Exports Pvt. Ltd. amounting to Rs. 8,78,00,000/- and M/s Vigorous Trade Link Pvt. Ltd. amounting to Rs. 9,70,00,000/- and further observed that the accommodation entry givers usually charge 0…

Suman Poddar vs. Income Tax Officer

ITA/841/2019HC Delhi17 Sept 2019

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

Section 10

…the transactions were also unknown to the assessee. All these facts give credence to the unreliability of the entire transaction of shares giving rise to such capital gains. The ratio laid down by the Hon'ble Supreme Court in the case of Sumati Dayal vs. CIT, 214 ITR 801 is squarely applicable to the case. Though the assessee has received the amounts by way of account payee cheques, the transactions cannot be treated as genume in the presence of the overwhelming evidences put forward by the Revenue. The fact that in spite of earning such steep profits, the assessee never ventured to involve himself in any other t…

ITO, New Delhi vs. M/S. Rajat Finvest, Delhi

In the result, the appeals filed by the Revenue is dismissed and Cross objections filed by the assessee are dismissed as infructuous

ITA 4733/DEL/2016[2010-11]Status: DisposedITAT Delhi12 Sept 2019AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Smt. Sulekha Verma, Sr.D.RFor Respondent: S/Shri K Sampath, Adv., Aneesh
Section 133ASection 143(3)Section 147Section 148Section 68

…these judgments are not referred to or relied upon as many as 17 judgments and further the judgment of Hon’ble Supreme 13 I.T.As. No.4731, 4732, 4733/Del/16 & CO No314, 315 & 316/DEL/2016 Court in the case of Durga Prasad More, 82 ITR 540 and Sumati Dayal, 214 ITR 801 and catena of other decisions. All these judgments are not being discussed, firstly, for the reason that most of the judgments are on account of cash credit relating to share capital/share application money which has no relevance on the facts of the present case. 13. On the other hand, ld. counsel for the assessee strongly relied upon the order…