TM) Vishnu Jaiswal v. CIT

357 ITR 146High Court2013#294 most cited

What is TM) Vishnu Jaiswal v. CIT authority for?

If the Assessing Officer has not conducted any investigation and thus has not discharged their burden of proof, any addition made by the AO is unsustainable and must be deleted.

272

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Vishnu Jaiswal v. CIT · Assessing Officer burden of proof · no investigation by AO · addition unsustainable · deletion of addition · section 143(3)

Sections most often in play

Section 143(3)Section 153ASection 153DSection 14ASection 80ICSection 69BSection 132(1)Section 56(2)(x)

Issues it is cited on

section 115adsection 153a proceedingssection 2(1a)section 2(1)section 66section 60section 63section 2(14)(iii)section 131(1a)live linkretracted statementsection 80ic

Judgments citing TM) Vishnu Jaiswal v. CIT

M/S Puri Construction Ltd., New Delhi vs. DCIT, New Delhi

ITA 995/DEL/2011[2006-07]Status: DisposedITAT Delhi27 Dec 2017AY 2006-07

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2006-07] M/S Puri Construction Ltd Vs. The Dy. C.I.T W-82/A, Greater Kailash - Ii Circle - 18 New Delhi New Delhi Pan : Aaacp2760 K

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Smt. Aparna Karan- CIT [DR]
Section 132(1)Section 143(3)Section 153A

…the material which we have already referred to above. In such an eventuality no addition can be made under section 68 of the Act. Consequently, the question is answered in the negative. The decision of the Tribunal is correct in law.” [Emphasis supplied] b) 357 ITR 146 (Del) CIT vs. Fair Finvest Ltd. “6. This Court has considered the submissions of the parties. In this case the discussion by the CIT (Appeals) would reveal that the assessee has filed documents including certified copies issued by the…

DCIT, New Delhi vs. M/S Puri Construction Ltd., New Delhi

ITA 1327/DEL/2011[2006-07]Status: DisposedITAT Delhi27 Dec 2017AY 2006-07

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2006-07] M/S Puri Construction Ltd Vs. The Dy. C.I.T W-82/A, Greater Kailash - Ii Circle - 18 New Delhi New Delhi Pan : Aaacp2760 K

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Smt. Aparna Karan- CIT [DR]
Section 132(1)Section 143(3)Section 153A

…the material which we have already referred to above. In such an eventuality no addition can be made under section 68 of the Act. Consequently, the question is answered in the negative. The decision of the Tribunal is correct in law.” [Emphasis supplied] b) 357 ITR 146 (Del) CIT vs. Fair Finvest Ltd. “6. This Court has considered the submissions of the parties. In this case the discussion by the CIT (Appeals) would reveal that the assessee has filed documents including certified copies issued by the…

M/S. Globus Projects Pvt. Ltd., New Delhi vs. DCIT, Faridabad

In the result all the three appeals filed by the assesses are allowed

ITA 2491/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Nov 2017AY 2012-13

Bench: Shri H.S.Sidhu & Shri Prashant Maharishim/S. Globus Projects Private Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech Hospitalities Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech India Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent)

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Smt Aparna Karan, CIT DR
Section 131Section 132Section 133ASection 153ASection 153A(1)(b)Section 153CSection 263

…TTJ 472) (Del) CIT vs Dolphin Canpack Ltd (204 CTR 50) (Del) CIT vs Giocom Impex (P) Ltd. (205 CTR 571) (Del) CIT vs Gangaur Investment Ltd. (335 ITR 359) (Del) CIT vs Dwarkadhish Investment (P)Ltd. (330 ITR 298)(Del) CIT vs Gangeshwari Metal Pvt. Ltd. (2013) 361 ITR 10 (Del) CIT vs Expo Global India Ltd. (2014) 361 ITR 147 (Del) Sir, as regards the credit worthiness, it is submitted that appellant has submitted tne confirmation, bank account, Balance Sheet and income tax return of the applicant companies before the learned assessing officer. The appellant was not required to prove the source of the source as has…

M/S. Bestech India Pvt. Ltd., New Delhi vs. DCIT, Faridabad

In the result all the three appeals filed by the assesses are allowed

ITA 2485/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Nov 2017AY 2012-13

Bench: Shri H.S.Sidhu & Shri Prashant Maharishim/S. Globus Projects Private Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech Hospitalities Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan: Aaccb2540F (Appellant) (Respondent) Bestech India Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan: Aabcb6551B (Appellant) (Respondent)

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Smt Aparna Karan, CIT DR
Section 131Section 132Section 133ASection 153ASection 153A(1)(b)Section 153CSection 263

…TTJ 472) (Del) CIT vs Dolphin Canpack Ltd (204 CTR 50) (Del) CIT vs Giocom Impex (P) Ltd. (205 CTR 571) (Del) CIT vs Gangaur Investment Ltd. (335 ITR 359) (Del) CIT vs Dwarkadhish Investment (P)Ltd. (330 ITR 298)(Del) CIT vs Gangeshwari Metal Pvt. Ltd. (2013) 361 ITR 10 (Del) CIT vs Expo Global India Ltd. (2014) 361 ITR 147 (Del) Sir, as regards the credit worthiness, it is submitted that appellant has submitted tne confirmation, bank account, Balance Sheet and income tax return of the applicant companies before the learned assessing officer. The appellant was not required to prove the source of the source as has…

Radhey Ram Godara, Jaipur vs. ITO, Jaipur

In the result, appeal of the assessee is partly allowed for Statistical purposes

ITA 349/JPR/2016[2008-09]Status: DisposedITAT Jaipur29 Nov 2017AY 2008-09
For Appellant: Shri Shrawan Kumar Gupta, AdvocateFor Respondent: Shri R.A. Verma, Addl.CIT -DR
Section 143(2)Section 143(3)Section 234A

…till be held to represent the assessee’s income. The Assessing Officer failed to invoke the provisions under Section 131 of the Act, the Tribunal has rightly concluded that it was sufficient to delete the addition. 9.3 Also refer CIT v/s Fair Finvest Pvt. Ltd 357 ITR 146(Del) where it has been held Income—Cash credit—Share application money—Accommodation entries— Addition—Deletion thereof—Addition on account of share application money received during previous year was made to income of assessee in reassessment proceedings on basis of investigation report received by AO—ITAT upheld order of CIT(A) allowing appeal…

DCIT, New Delhi vs. M/S. Abhinav Steels Pvt. Ltd., New Delhi

ITA 4354/DEL/2014[2010-11]Status: DisposedITAT Delhi20 Nov 2017AY 2010-11

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2009-10] The Dy.C.I.T Vs. M/S Abhinav Steels Pvt. Ltd Circle -1(1) 401, Mahaveer Ji Complex New Delhi Lsc, Rishab Jain Vihar New Delhi Pan : Aabca 3974 H [Appellant] [Respondent] Date Of Hearing : 02.11.2017 Date Of Pronouncement : 20.11.2017 Assessee By : Shri Ved Jain, Adv Shri Ashish Goel, Ca Revenue By : Shri Surendrapal, Sr. Dr

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Surendrapal, Sr. DR
Section 68

…rove what had been produced by the Assessee is certainly a plausible view in the facts and circumstances of the case. Likewise, the view taken by the ITAT concurring with the CIT(A) on facts cannot be said to be perverse.” 2. CIT vs. Fair Finvest Ltd. (2013) 357 ITR 146(Del) “Where assessee adduces evidence in support of share application monies, it is open to Assessing Officer to examine it and reject it on tenable grounds. In case he wishes to rely on report of investigation authorities, some meaningful enquiry ought to be conducted by him to establish a link between assessee and alleged hawala operators. Wh…

M/S. Behl Promoters & Realtors Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal stands allowed for statistical purposes

ITA 3407/DEL/2014[2009-10]Status: DisposedITAT Delhi30 Oct 2017AY 2009-10

Bench: Shri R. K. Panda & Shri Sudhanshu Srivastavaassessment Year : 2009-10 Behl Promoters & Realtors Pvt. Ltd., Acit, Central Circle- 21, B-29, Pamposh Enclave, New Delhi. Vs. New Delhi.

For Appellant: Shri Kapil Goel, AdvFor Respondent: Shri R. C. Danday, Sr.DR
Section 143(3)

…cast on it. However, the Assessing Officer did not issue any summons u/s 131 nor called the information u/s 133(6) of the I.T. Act. 15. Referring to the decision of the Hon’ble Delhi High Court in the case of CIT vs. Gangeshwari Metal (P.) Ltd. reported in 361 ITR 10, he submitted that the Hon'ble High Court in the said decision has held that where there is a clear lack of enquiry on the part of the Assessing Officer once the assessee had furnished all the relevant material, in such an eventually no addition can be made u/s 68 of the I.T. Act. Referring to the decision of the Hon’ble Delhi High Court in the…

M/S. Tinna Overseas Ltd., New Delhi vs. DCIT, New Delhi

In the result, the ITA No

ITA 5389/DEL/2014[2009-10]Status: DisposedITAT Delhi09 Oct 2017AY 2009-10

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 139Section 143(3)Section 153C

…397 ITR 82, Ld. AR argued that a statement recorded u/s 132(4) can form basis for a block assessment only if such statement relates to any incriminating course of search cannot be made. He also placed reliance on CIT vs. Fair Finvest Ltd. (Delhi High Court) 357 ITR 146, CIT vs. Gangeshwari Metals Ltd. (Delhi High Court) 361 ITR 10, CIT vs. FCS International Marketing Ltd. (Punjab & Haryana High Court) 203 CTR 601, ACIT vs. Anima Investment Ltd. (3rd Member Delhi ITAT) 73 ITD 125, for the principles that no disallowance could be made or sustained on the basis of FIR or statements without enquiry by the AO a…

M/S. Tinna Overseas Ltd., New Delhi vs. DCIT, New Delhi

In the result, the ITA No

ITA 5388/DEL/2014[2008-09]Status: DisposedITAT Delhi09 Oct 2017AY 2008-09

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 139Section 143(3)Section 153C

…397 ITR 82, Ld. AR argued that a statement recorded u/s 132(4) can form basis for a block assessment only if such statement relates to any incriminating course of search cannot be made. He also placed reliance on CIT vs. Fair Finvest Ltd. (Delhi High Court) 357 ITR 146, CIT vs. Gangeshwari Metals Ltd. (Delhi High Court) 361 ITR 10, CIT vs. FCS International Marketing Ltd. (Punjab & Haryana High Court) 203 CTR 601, ACIT vs. Anima Investment Ltd. (3rd Member Delhi ITAT) 73 ITD 125, for the principles that no disallowance could be made or sustained on the basis of FIR or statements without enquiry by the AO a…

M/S. Tinna Overseas Ltd., New Delhi vs. DCIT, New Delhi

In the result, the ITA No

ITA 5387/DEL/2014[2007-08]Status: DisposedITAT Delhi09 Oct 2017AY 2007-08

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 139Section 143(3)Section 153C

…397 ITR 82, Ld. AR argued that a statement recorded u/s 132(4) can form basis for a block assessment only if such statement relates to any incriminating course of search cannot be made. He also placed reliance on CIT vs. Fair Finvest Ltd. (Delhi High Court) 357 ITR 146, CIT vs. Gangeshwari Metals Ltd. (Delhi High Court) 361 ITR 10, CIT vs. FCS International Marketing Ltd. (Punjab & Haryana High Court) 203 CTR 601, ACIT vs. Anima Investment Ltd. (3rd Member Delhi ITAT) 73 ITD 125, for the principles that no disallowance could be made or sustained on the basis of FIR or statements without enquiry by the AO a…

M/S. Tinna Overseas Ltd., New Delhi vs. DCIT, New Delhi

In the result, the ITA No

ITA 5386/DEL/2014[2006-07]Status: DisposedITAT Delhi09 Oct 2017AY 2006-07

Bench: Shri G.D. Agrawal, Hon’Ble & Shri K.N. Chary

Section 132Section 139Section 143(3)Section 153C

…397 ITR 82, Ld. AR argued that a statement recorded u/s 132(4) can form basis for a block assessment only if such statement relates to any incriminating course of search cannot be made. He also placed reliance on CIT vs. Fair Finvest Ltd. (Delhi High Court) 357 ITR 146, CIT vs. Gangeshwari Metals Ltd. (Delhi High Court) 361 ITR 10, CIT vs. FCS International Marketing Ltd. (Punjab & Haryana High Court) 203 CTR 601, ACIT vs. Anima Investment Ltd. (3rd Member Delhi ITAT) 73 ITD 125, for the principles that no disallowance could be made or sustained on the basis of FIR or statements without enquiry by the AO a…

M/S. Galgotia Books & Departmental Store Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 7017/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…in Civil Appeal No. 11080 of 2017 dated 29th August, 2017. (iv). CIT Vs. Best Infrastructure (India) Pvt. Ltd. [2017] 397 ITR 82. (v). CIT Vs. Laxman Industrial Resources Pvt. Ltd. ITA No 169/2017 dated 14th March, 2017. (vi). CIT Vs. Fair Finvest Ltd. [2014] 357 ITR 146. (vii). CIT Vs. Vrindavan Farms Pvt. Ltd. ITA No. 71, 72, 85/D/2015. (viii). ITO Vs. Softline Creations Pvt. Ltd. ITA No. 744/Del/2012. 8. The learned Departmental Representative, on the other hand, submitted that this is a case of accommodation entry. The AO has recorded the statement of Mr. Tarun Goyal wherein he has categorically stated that h…

M/S. Galgotia Infotech Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 6583/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…in Civil Appeal No. 11080 of 2017 dated 29th August, 2017. (iv). CIT Vs. Best Infrastructure (India) Pvt. Ltd. [2017] 397 ITR 82. (v). CIT Vs. Laxman Industrial Resources Pvt. Ltd. ITA No 169/2017 dated 14th March, 2017. (vi). CIT Vs. Fair Finvest Ltd. [2014] 357 ITR 146. (vii). CIT Vs. Vrindavan Farms Pvt. Ltd. ITA No. 71, 72, 85/D/2015. (viii). ITO Vs. Softline Creations Pvt. Ltd. ITA No. 744/Del/2012. 8. The learned Departmental Representative, on the other hand, submitted that this is a case of accommodation entry. The AO has recorded the statement of Mr. Tarun Goyal wherein he has categorically stated that h…

M/S. Galgotia Software Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 6579/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…in Civil Appeal No. 11080 of 2017 dated 29th August, 2017. (iv). CIT Vs. Best Infrastructure (India) Pvt. Ltd. [2017] 397 ITR 82. (v). CIT Vs. Laxman Industrial Resources Pvt. Ltd. ITA No 169/2017 dated 14th March, 2017. (vi). CIT Vs. Fair Finvest Ltd. [2014] 357 ITR 146. (vii). CIT Vs. Vrindavan Farms Pvt. Ltd. ITA No. 71, 72, 85/D/2015. (viii). ITO Vs. Softline Creations Pvt. Ltd. ITA No. 744/Del/2012. 8. The learned Departmental Representative, on the other hand, submitted that this is a case of accommodation entry. The AO has recorded the statement of Mr. Tarun Goyal wherein he has categorically stated that h…

DCIT, New Delhi vs. M/S. Micromax Informatics Ltd., Gurgaon

The appeal of the Revenue is dismissed and that of the assessee is partly allowed

ITA 4647/DEL/2014[2006-07]Status: DisposedITAT Delhi30 Jun 2017AY 2006-07

Bench: Shri I. C. Sudhir & Shri B. P. Jain

For Appellant: Shri Ved Jain, C. AFor Respondent: Shri H. K. Choudhary, CIT [DR]
Section 142Section 143(3)Section 153A

…- i) CIT v. Orissa Corporation (2008) 216 CTR 195 (SC); ii) CIT v. Rakam Money Matters Pvt. Ltd. [ITA No. 778 of 2015 dated 13-10-2015]; iii) CIT v. Vrindavan Farms (P) Ltd. [ITA No. 71, 72, 85/D/2015 dated 12.08.2015] iv) CIT v. Fair Finvest Ltd. [2013] 357 ITR 146 (Del.). 106.4 We have considered the submissions of the parties and perused the record. From perusal of the paper book the relevant pages to which our attention was sought by the learned AR we find that Rs.50,00,000/- was received as share application money from M/s Pathik Merchandise Pvt. Ltd. in the assessment year 2006-07 and the relevant evi…

M/S. Micromax Informatics Ltd., New Delhi vs. DCIT, New Delhi

The appeal of the Revenue is dismissed and that of the assessee is partly allowed

ITA 4642/DEL/2014[2006-07]Status: DisposedITAT Delhi30 Jun 2017AY 2006-07

Bench: Shri I. C. Sudhir & Shri B. P. Jain

For Appellant: Shri Ved Jain, C. AFor Respondent: Shri H. K. Choudhary, CIT [DR]
Section 142Section 143(3)Section 153A

…- i) CIT v. Orissa Corporation (2008) 216 CTR 195 (SC); ii) CIT v. Rakam Money Matters Pvt. Ltd. [ITA No. 778 of 2015 dated 13-10-2015]; iii) CIT v. Vrindavan Farms (P) Ltd. [ITA No. 71, 72, 85/D/2015 dated 12.08.2015] iv) CIT v. Fair Finvest Ltd. [2013] 357 ITR 146 (Del.). 106.4 We have considered the submissions of the parties and perused the record. From perusal of the paper book the relevant pages to which our attention was sought by the learned AR we find that Rs.50,00,000/- was received as share application money from M/s Pathik Merchandise Pvt. Ltd. in the assessment year 2006-07 and the relevant evi…

Om Logistics Ltd., New Delhi vs. ACIT, New Delhi

ITA 4304/DEL/2014[2001-02]Status: DisposedITAT Delhi31 May 2017AY 2001-02

Bench: Sh. N. K. Saini & Smt. Beena A. Pillaiom Logistics Ltd. Acit 130, Transport Nagar, Circle-21 Ring Road, Punjabi Bagh Vs. New Delhi New Delhi Pan : Aaaco4716C (Appellant) (Respondent)

For Appellant: Sh. Ashish Goel, CAFor Respondent: Smt. Rachna Singh, CIT(DR)
Section 142(1)Section 143(2)Section 143(3)Section 147Section 68

…. in ITA No. 778 of 2015 dated 13.10.2015; • decision of Hon’ble Delhi High Court in the case of CIT vs. Victor Electrodes Ltd. reported in (2010) 329 ITR 271; • decision of Hon’ble Delhi High Court in the case of CIT vs. Fair Finvest Ltd., Reported in (2013) 357 ITR 146 • decision of Hon’ble Delhi High Court in the case of CIT vs. Virendavan Farms (P) Ltd., in ITA No. 71, 72, 85/2015 vide order dated 12.08.2015; • decision of Delhi ITAT in the case of ITO vs. Softline Creations Pvt.Ltd in ITA No. 744/del/2012 dated 10/02/15 which been upheld by Hon’ble Delhi High Court in the case of ITA No. 504/2016 vide order…

M/S. Airads Ltd., New Delhi vs. ACIT, New Delhi

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

ITA 4676/DEL/2014[2011-12]Status: DisposedITAT Delhi22 Mar 2017AY 2011-12

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. S.K. Jain, DR
Section 68

…ourt decision in the case of Pr. CIT vs. Softline Creations Pvt. Ltd. (2016) 387 ITR 636 (Del.) - Jurisdictional High Court decision in the case of Pr. CIT vs. Green Valley Plywood Limited (ITA No. 358/2016 dated 1.6.2016) - CIT vs. Fair Finvest Ltd. (2013) 357 ITR 146 (Del.) - CIT vs. Goel Sons Golden Estate P Ltd. ITA No. 212/2012 dated 11.4.2012. - CIT vs. Gangeshwari Metal (P) Ltd. (2014) 361 ITR 10 (Delhi) (HC) - Pr. CIT vs. Rakam Money Matters P Ltd. (Delhi HC) - CIT vs. Lovely Exports Pvt. Ltd. (2009) 319 ITR 5 (SC). 6. Ld. DR relied upon the orders of the authorities below. He stated that the primar…

Tirupati College of Technical Education Society, Jaipur vs. CIT(Exemptions), Jaipur

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

ITA 452/JPR/2016[2012-13]Status: DisposedITAT Jaipur03 Mar 2017AY 2012-13
For Appellant: Shri Sharvan Kumar Gupta, AdvocateFor Respondent: Shri B.K. Gupta, (CIT)
Section 10Section 143(3)

…ld still be held to represent the assessee’s income. The Assessing Officer failed to invoke the provisions under Section 131 of the Act, the Tribunal has rightly concluded that it was sufficient to delete the addition. Also refer CIT v/s Fair Finvest Pvt. Ltd 357 ITR 146(Del) 18.5 In CIT V/S Abdul Aziz 72 DTR 216(Chhattisgarh)- Held that no independed inquiry was made by the a AO to disprove the creditworthiness of the creditors, as established by the affidavits and 37 M/s.Tirupati College of Technical Education Society vs LD. CIT( Exemption), Jaipur statement showing source of income. Hence CIT(A) was justifie…

Esprit Finco Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result, the appeal of the assessee is allowed in part

ITA 1834/DEL/2015[2004-05]Status: DisposedITAT Delhi27 Jan 2017AY 2004-05

Bench: Smt Diva Singh

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 68

…in ITA No.504/16 which confirmed the judgement of the ITAT dated 10.02.2016 in ITA No.744/Del/2012 in the case of ITO vs M/s Softline Creation P.Ltd. [ITA No.744/Del/2012 dated 10.02.2016 ITAT Delhi]. Reliance was placed upon CIT vs Fair Finvest Ltd. [2013] 357 ITR 146 (Del.) Hon’ble Jurisdictional High Court; DCIT vs M/s G.S.Control I.P.Ltd. [ITA No.1560/Del/2010 dated 13.03.2015]; and Jurisdictional High Court in the case of CIT vs Goel Sons Golden Estate P.Ltd. [ITA No.212/2012 dated 11.04.2012]. Page 10 of 19 I.T.A .No.-1834/Del/2015 6. The Ld. Sr. DR in reply addressing the decision relied upon by th…