Tax Vs. Kulwant Rai (2007) 291 ITR 36 (Delhi) (ix) Assistant Commissioner of Income Tax v. Kences Foundation Pvt. Ltd.

289 ITR 509High Court2007#4664 most cited

What is Tax Vs. Kulwant Rai (2007) 291 ITR 36 (Delhi) (ix) Assistant Commissioner of Income Tax v. Kences Foundation Pvt. Ltd. authority for?

Additions to income based solely on seized documents or notings without corroborative evidence are not sustainable. The department's presumption that jottings represent income not disclosed in books requires direct evidence.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2019 to 2023.

Also referred to as

Tax Vs. Kulwant Rai · seized documents · corroborative evidence · undisclosed income · additions to income · notings and jottings · presumption of income · section 131(1a)

Issues it is cited on

peak credit theorysection 65bsection 65section 131(1a)short term capital gainspanchnamasection 132(4a)section 34section 292cchildapplication of incomeshort term capital gain

Judgments citing Tax Vs. Kulwant Rai (2007) 291 ITR 36 (Delhi) (ix) Assistant Commissioner of Income Tax v. Kences Foundation Pvt. Ltd.

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., New Delhi

In the result, the appeals in ITA No

ITA 59/DEL/2022[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., New Delhi

In the result, the appeals in ITA No

ITA 58/DEL/2022[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

DCIT, CC-8, New Delhi vs. Opg Securities Pvt. Ltd., Delhi

In the result, the appeals in ITA No

ITA 57/DEL/2022[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1824/DEL/2021[2018-19]Status: DisposedITAT Delhi17 Oct 2023AY 2018-19

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1823/DEL/2021[2017-18]Status: DisposedITAT Delhi17 Oct 2023AY 2017-18

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1822/DEL/2021[2016-17]Status: DisposedITAT Delhi17 Oct 2023AY 2016-17

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT- CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1821/DEL/2021[2015-16]Status: DisposedITAT Delhi17 Oct 2023AY 2015-16

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1820/DEL/2021[2014-15]Status: DisposedITAT Delhi17 Oct 2023AY 2014-15

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1819/DEL/2021[2013-14]Status: DisposedITAT Delhi17 Oct 2023AY 2013-14

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Opg Securities Private Limited, New Delhi vs. DCIT, CC-8, New Delhi

In the result, the appeals in ITA No

ITA 1818/DEL/2021[2012-13]Status: DisposedITAT Delhi17 Oct 2023AY 2012-13

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 1818/Del/2021 : Asstt. Year : 2012-13 Ita No. 1819/Del/2021 : Asstt. Year : 2013-14 Ita No. 1820/Del/2021 : Asstt. Year : 2014-15 Ita No. 1821/Del/2021 : Asstt. Year : 2015-16 Ita No. 1822/Del/2021 : Asstt. Year : 2016-17 Ita No. 1823/Del/2021 : Asstt. Year : 2017-18 Ita No. 1824/Del/2021 : Asstt. Year : 2018-19 Opg Securities Pvt. Ltd., Vs Dcit, 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110002 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 1204/Del/2022 : Asstt. Year : 2012-13 Ita No. 1205/Del/2022 : Asstt. Year : 2013-14 Ita No. 1206/Del/2022 : Asstt. Year : 2014-15 Opg Securities Pvt. Ltd., Vs Dcit, E-24, Preet Vihar, Central Circle-8, New Delhi-110092 New Delhi-110055 (Appellant) (Respondent) Pan No. Aaaco1081C Ita No. 57/Del/2022 : Asstt. Year : 2016-17 Ita No. 58/Del/2022 : Asstt. Year : 2017-18 Ita No. 59/Del/2022 : Asstt. Year : 2018-19 Dcit, Vs Opg Securities Pvt. Ltd., 1St Floor, 4/10, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaco1081C Assessee By : Sh. Akshat Jain, Ca & Sh. Rajat Jain, Ca Revenue By : Sh. Subhra J. Chakraborty, Cit-Dr Date Of Hearing: 13.09.2023 Date Of Pronouncement: 17.10.2023

For Appellant: Sh. Akshat Jain, CA &For Respondent: Sh. Subhra J. Chakraborty, CIT-DR
Section 65BSection 69ASection 69C

…Sumeet Verma: 145 DLT 280 (Del) d) Amarjit Singh Bakshi (HUF) vs. ACIT: 86 ITD 13 (Del TM) e) ShankerlalNebnumal (HUF) V. DC1T: 80 TTJ 69 (Ahd.) f) Gujarat High Court in the case of DCIT V. Jivanlal Nebhumal (HUF):182 CTR370 g) Kences Foundation (P) Limited: 289 ITR 509 (Mad) h) SP Goval vs. DCIT. 82 ITD 85 (Mum.) (TM) i) Nem Chand Dagar v. ACIT: [2004] 1 SOT 515 (Del) j) Dinesh K. Shah: 92 TTJ 109 (Bang.) k) Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang.) l) Calcutta Bench of the Tribunal in the case of T.S.Venkatesan v. Asst. CIT: 74 ITD 298 m) Atul Kumar Jain vs. DCIT: 64 TTJ 786 ITA No. 1818 to 1824/Del/2021 OP…

Param Dairy Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

In the result, for both the years, the appeal of the assessee is partly allowed

ITA 3994/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Dec 2020AY 2014-15

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Ajay Vohra, Sr. Adv., Shri RohitFor Respondent: Smt. Sushma Singh, CIT-DR
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 40A(3)Section 69C

…orroborated by evidence supporting such allegation for making addition, in absence of which no addition could be made [Shankerlal Nebhumal (HUF) V. DCIT: 80 TTJ 69 (Ahd.) affirmed in DCIT V. Jivanlal Nebhumal (HUF): 182 CTR 370, Kences Foundation (P) Limited: 289 ITR 509 (Mad), Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang)]. 45 I.T.As. No.3993 & 3994/DEL/2019 59. We have heard the rival submissions and perused the relevant finding given in the impugned order as well as the material referred to before us, the addition has been made u/s.69C on the ground that certain expenditure incurred towards packing material has…

Param Dairy Ltd., New Delhi vs. ACIT, Central Circle- 14, New Delhi

In the result, for both the years, the appeal of the assessee is partly allowed

ITA 3993/DEL/2019[2013-14]Status: DisposedITAT Delhi03 Dec 2020AY 2013-14

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Shri Ajay Vohra, Sr. Adv., Shri RohitFor Respondent: Smt. Sushma Singh, CIT-DR
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 40A(3)Section 69C

…orroborated by evidence supporting such allegation for making addition, in absence of which no addition could be made [Shankerlal Nebhumal (HUF) V. DCIT: 80 TTJ 69 (Ahd.) affirmed in DCIT V. Jivanlal Nebhumal (HUF): 182 CTR 370, Kences Foundation (P) Limited: 289 ITR 509 (Mad), Ramesh K. Shah v. DCIT: 82 TTJ 827 (Bang)]. 45 I.T.As. No.3993 & 3994/DEL/2019 59. We have heard the rival submissions and perused the relevant finding given in the impugned order as well as the material referred to before us, the addition has been made u/s.69C on the ground that certain expenditure incurred towards packing material has…

Adarsh Agrawal, Delhi vs. ITO, Ward-61(1), New Delhi

In the result, appeal of Assessee allowed

ITA 777/DEL/2019[2010-11]Status: DisposedITAT Delhi14 Jan 2020AY 2010-11

Bench: Shri Bhavnesh Saini & Shri N.K. Billaiya

For Appellant: Shri Deepesh Jain, C.A. And Shri Arpit Goel, C.AFor Respondent: Shri Ved Prakash Mishra, Sr. DR
Section 132Section 147Section 148Section 153ASection 153C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “A”: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA.No.777/Del./2019 Assessment Year 2010-2011 The Income Tax Officer, Shri Adarsh Agrawal, Ward-61(1), Room vs., N-57, Naveen Shahdra, No.2007, 20th Floor, E-2 Block, Civic Centre, Delhi. JLN Marg, PAN AACPA1775E New Delhi - 110002 (Appellant) (Respondent) Shri Ashwani Kumar, C.A. Shri Rohit Jain, Advocate, For Assessee : Shri Deepesh Jain, C.A. And Shri Arpit Goel, C.A. For Revenue : Shri Ved Prakash Mishra, Sr. DR Date of Hearing : 08.01.2020 Date of Pronouncement…

Birendra Kumar Sharma, Gwalior vs. ACIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 542/IND/2017[09-10]Status: DisposedITAT Indore04 Jun 2019

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Dharmendra Kumar Choudhary, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 710/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Vijay Kumar Shrivastava, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 709/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Ramesh Chandra Parashar, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 708/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Pradeep Kumar Sharma, Dabra vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 707/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Lalta Prasad Choudhary, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 706/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Shri Santosh Kumar Sharma, Gwalior vs. The DCIT 1(1), Bhopal

In the result these bunch of fourteen appeals of the assessee’s for Assessment Year 2009-10 are partly allowed for statistical purposes

ITA 705/IND/2016[2009-10]Status: DisposedITAT Indore04 Jun 2019AY 2009-10

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

…toward “on money” on the basis of Maulik Kumar K seized paper along without any Shah corroborative evidence accnot be sustained 8 (2007) 291 ITR 36 No addition can be made based on Para 67-70 (Delhi) CIT v. surmises and gues work 12 & Kulwant Rai 13 9 (2007) 289 ITR 509 Seized docuemnts are not a Para 71-75 ACIT v. Kences conclusive proof to arrive at 16 & Foundation P. Ltd. undisclosed income 17 10 (2009) 308 ITR 230 If there is no corroborative or Para 3 76-78 (Del) CIT v. D.K. direct evidence to presume that Gupta the notings/jottings has materialized into transactions giving rise to income not disclosed in t…

Tax Vs. Kulwant Rai (2007) 291 ITR 36 (Delhi) (ix) Assistant Commissioner of Income Tax v. Kences Foundation Pvt. Ltd. (289 ITR 509) — Cited in 25 Judgments | BharatTax