Umacharan Shaw & Bros. v. CIT

37 ITR 271Supreme Court of India1959#112 most cited

What is Umacharan Shaw & Bros. v. CIT authority for?

An income tax assessment or addition cannot be sustained solely on the basis of suspicion, surmises, or conjectures, as strong suspicion does not amount to proof. The revenue authorities must rely on concrete evidence and material to frame an assessment.

567

judgments rely on this decision, according to BharatTax’s citation analysis of 366,416 Indian tax judgments — from 2013 to 2026.

Also referred to as

Umacharan Shaw & Bros. v. CIT · suspicion not proof · no addition on surmises · conjectures and suspicion · burden of proof income tax · Section 68 cash credits · Section 132(4) statement · assessment without evidence · Section 37(1) business expenditure · genuineness of transaction

Sections most often in play

Section 143(3)Section 132Section 132(4)Section 147Section 68Section 148Section 153ASection 69C

Issues it is cited on

price riggingdumb documentssection 132(4a)statement under section 132(4)bogus long term capital gainsection 292cretracted statementloose paperson-moneybogus ltcgsection 132(4)penny stock

Judgments citing Umacharan Shaw & Bros. v. CIT

Chandra Pal, New Delhi vs. ACIT, Central Circle-II, Noida

In the result, appeal of the assessee is allowed

ITA 981/DEL/2023[2020-21]Status: DisposedITAT Delhi12 Dec 2023AY 2020-21

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2020-21 Chandra Pal Vs. Acit, C-8/8787, Central Circle-11, Vasant Kunj, Noida, 2Nd Floor, Arto New Delhi – 110 070 Complex, Sector-33, Pan Ainpp1209K Noida Uttar Pradesh 201301 (Appellant) (Respondent)

For Appellant: Shri Harish Choudhary, CAFor Respondent: Shri T. James Singson, CIT-DR
Section 132Section 132(4)Section 153ASection 250Section 69C

…ved from Mr. Deepak was also submitted. It was contended that there is no evidence on record that the assessee paid part of Rs. 30,00,000/- to Mr. Deepak. Assessment cannot be based on assumptions and presumptions as held in the case of Umacharan Shaw & Bros (37 ITR 271) by the Apex Court. 8. The Ld. CIT(A) was not convinced with the above submission of the assessee and confirmed the impugned addition by observing, interalia as under:- “In the appellate proceedings Ld. AR submitted that there was only one cash amount of Re 10,00,000/- which was given to Sh. Deepak Raj on 10.10.2019 for the purchase of cows but…

Gajshkati Agrotech Private Limited, Mumbai vs. ITO, Ward 7(1)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1506/MUM/2023[2012-2013]Status: DisposedITAT Mumbai18 Oct 2023AY 2012-2013

Bench: Shri Aby T. Varkey, Jm & Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.1506/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) Gajshakti Agrotech Pvt. बिधम/ Ito, Ward-7(1)(1) Ltd. Aayakar Bhavan, Vs. Ground Floor, 414, Empire Churchgate, Mumbai- Business Centre Empire 400020. Industries Ltd. Senapati Bapat Marg, Lower Parel, Maharashtra- 400013. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabcg4838J (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Dharan Gandhi Revenue By: Shri Yogendra T Wakare (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 30/08/2023 घोषणा की तारीख /Date Of Pronouncement: 18/10/2023 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Company Against The Order Of The Ld. Cit(A)/Nfac, Delhi Dated 26.03.2023 For Ay. 2012- 13. 2. The Main Grievance Of The Assessee Is Against The Action Of The Ld. Cit(A) Sustaining The Addition Of Rs.99,73,650/- On Account Of Speculation Profit Made By The Ao. 3. Brief Facts Are That The Assessee Company Was Engaged In The Business Of Manufacturing & Trading Of Agro Products & Other Commodities. The Assessee Filed Its Return Of Income On 29.09.2012 Declaring Loss Of Rs.2,85,374/-. Later, The Case Of The Assessee Was Selected For Scrutiny. & The Ao Noted That The Assessee Has Claimed Carry Forward Of Speculation Loss Of Rs.2,85,374/-. The Ao Asked The Assessee About The Details Of The Commodity Transaction Vide Order Sheet Noting Dated 13.01.2015. The Ao Notes That The Assessee Submitted Ledger Account Of Speculation Loss Wherein It Was Found

For Appellant: Shri Dharan GandhiFor Respondent: Shri Yogendra T Wakare (Sr. DR)
Section 133(6)

…f surmises and conjectures has concluded that the transaction to be in-genuine and submitted that suspicion cannot take the place of proof. And in this regard cited the decision of the Hon’ble Supreme Court in the case of Omacharan Shaw & Bros. Vs. CIT (1959) 37 ITR 271 (SC). And therefore, according to the Ld. AR, the addition based on surmises and conjectures should be deleted. And for such a preposition inter-alia relied on the decision of the Hon’ble Bombay High Court in Coronation Agro Industries Vs. DCIT 97 CCH 372 and Hon’ble Rajasthan High Court in the case of PCIT Vs. Gyandeep Khemka (Income Tax Appeal N…

Vipul M Shah (HUF), Mumbai vs. ITO -17(3)(5), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1030/MUM/2023[2014-15]Status: DisposedITAT Mumbai16 Oct 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Amarjit Singhvipul M Shah (Huf) Vs. The Ito 17(3)(5) 404, Commerce House, Mumbai 140, N.M. Road, Fort, Maharashtra – 400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aabhv3153Q Appellant .. Respondent [ Appellant By : Vimal Punamiya Respondent By : Gotimukul Santosh Kumar Date Of Hearing 20.07.2023 Date Of Pronouncement 16.10.2023

For Appellant: Vimal PunamiyaFor Respondent: Gotimukul Santosh Kumar
Section 10(38)Section 143(2)Section 68

…d in the eyes of law as held by Hon’ble Supreme Court in Omar Salay Mohamed Sait V/s CIT (1959 37 ITR 151). The suspicion however strong could not partake the character of legal evidence as held by Hon’ble Supreme Court in Umacharan Shaw & Bros. V/s CIT (1959 37 ITR 271). Therefore, we find that onus as caster upon revenue to corroborate the impugned additions by controverting the documentary evidences furnished by the assessee and by bringing on record, any cogent material to sustain those additions, could not be discharged by the revenue. The allegation of price rigging / manipulation has been levied without es…

Kailash Chand Yadav, 100, Kalu Baba Ki Dhani, Sheoshinghpur, Akoda, Phulera-303338 vs. Income Tax Officer, Ward - 1(2), Jaipur

In the result, the appeal of the assessee is partly allowed

ITA 82/JPR/2023[2010-11]Status: DisposedITAT Jaipur11 Sept 2023AY 2010-11

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.L. Poddar(Adv.)&For Respondent: Smt. Monisha Choudhary(Addl.CIT)
Section 142(1)Section 148Section 69A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”SMC” JAIPUR Mk0 ,l- lhrky{eh]U;kf; dlnL; ,o aJh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 82/JPR/2023 fu/kZkj.k o"kZ@Assessment Years : 2010-11 Kailash Chand Yadav cuke Income Tax Officer, 100, Kalu Baba Ki Dhani, Vs. Ward-1(1), Jaipur. Sheoshinghpura, Akoda, Phulera, Jaipur-303338. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: ACXPY 1162 C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri S.L. Podd…

DCIT, Central Circle-3, Surat vs. Shri Mahendra Champaklal Mehta, Surat

In the result, IT(SS)A No

ITA 31/SRT/2021[2016-17]Status: DisposedITAT Surat06 Sept 2023AY 2016-17

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No. 06/Srt /2021 (Assessment Year: 2015-16)

Section 132Section 139Section 143(2)Section 153CSection 254(1)

…und No. 1 of the appeal as well as the following case laws:  K.P. Varshese Vs ITO 7 Taxman 13 (SC)  Common Cause (A Registered Society) Vs UOI (2017) 394 ITR 220 (SC)  CIT Vs P.V. Kalyanasundaram (2007) 294 ITR 49 (SC)  Umacharan Shaw & Bros Vs CIT (1973) 37 ITR 271 (SC)  Lalchand Bhagat Ambica Ram Vs CIT (1959) 37 ITR 288 (SC)  Dhakeshwari Cotton Mills Ltd. Vs CIT (1954) 26 ITR 775 (SC)  CIT Vs Maulikumar K. Shah 307 ITR 137 (Guj)  Govindbhai N. Patel Vs DCIT 41 taxmann.com 147 (Guj)  CIT Vs Lavanya Land (P) Ltd. (2017) 83 taxmann.com 161 (Bom)  ACIT Vs Miss Lata Mangeshkar (1974) 97 ITR 696 (Bom)  CI…

Asst. Commissioner of Income Tax, Central Circle-1, Surat vs. Kush Corporation, Surat

In the result, grounds of cross objection raised by assessee is partly allowed

ITA 357/SRT/2022[2016-17]Status: DisposedITAT Surat05 Sept 2023AY 2016-17

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No. 93 & 94/Srt /2022 (Assessment Year: 2014-15 & 2015-16)

Section 133ASection 254(1)

…ion can be made in absence of evidence or no addition is permissible on mere assumption or presumption, the ld. AR of the assessee relied upon the following case laws:  CIT Vs P.V. Kalyanasundaram (2007) 294 ITR 49 (SC),  Umacharan Shaw & Bros Vs CIT (1973) 37 ITR 271 (SC),  Lalchand Bhagat Ambica Ram Vs CIT (1959) 37 ITR 288 (SC),  Dhakeshwari Cotton Mills Ltd. Vs CIT (1954) 26 ITR 775 (SC),  CIT Vs Maulikumar K. Shah 307 ITR 137 (Guj),  CIT Vs Lavanya Land (P) Ltd. (2017) 83 taxmann.com 161 (Bom),  Anvar P.V. Vs P.K. Baseer and others (2014) 10 SCC 473,  Ravinder Singh Kaku Vs State of Punjab (2022) Liv…

D.C.I.T., Circle-1, Dibrugarh vs. Vinod Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 66/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Pramod Kumar Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 65/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Sheetal Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 64/GTY/2023[2013-14]Status: DisposedITAT Guwahati01 Sept 2023AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Madan Lal Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 63/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Ravi Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 62/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Vinay Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 61/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Vishal Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 60/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Bhagwati Devii Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 59/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Meenakshi Bamalwa Soni, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 58/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Usha Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 57/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Hans Raj Bamalwa (HUF), Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 56/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle- 1, Dibrugarh vs. Hans Raj Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 55/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Bachh Raj Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 54/GTY/2023[2015-16]Status: DisposedITAT Guwahati01 Sept 2023AY 2015-16

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…

D.C.I.T., Circle-1, Dibrugarh vs. Bachh Raj Bamalwa, Dibrugarh

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

ITA 53/GTY/2023[2012-13]Status: DisposedITAT Guwahati01 Sept 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

…modation entries, as had been alleged by the A.O. In fact, any suspicion, however so ever strong, that the Department may have, cannot take place of proof as clearly laid down by the Honorable Supreme Court in the case of Umacharan Shah & Bros. vs. CIT [1959] 37 ITR 271.” 3.12 Further, insofar as the scrip of Jackson Investment Ltd. in the case of Sri Bachh Raj Bamalwa for A.Y. 2015-16 (Assessee at Sl. No. 4 supra) is concerned, the following further submissions are made in addition to the above: (i) That, the Ld. A.O, in making the impugned addition, has relied upon the purported statements of promoters, allege…