VERMA SERVICE STATION,FIROZABAD vs. ACIT, FIROZABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meena

Section 68. Those are: (i) identity of the investors; (ii) their creditworthiness/investments: and (ii) genuineness of the transaction. Only when these three ingredients are established prima facie, the department is required to undertake further exercise. 5.6.4 A decision of Hon. ITAT Agra Bench in the case of Smt. Suman Gupta vs. Income-tax Officer, Ward 1, Aligarh

HARDAYAL MILK PRODUCTS PRIVATE LIMITED,SHIKOHABAD vs. DCIT, CIRCLE-2(2)(1), FIROZABAD, FIROZABAD

In the result, both the appeals filed by assessee are allowed

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singh

section 68 of the Act, ignoring that the assessee had duly discharged the initial burden by furnishing all the requisite documentary evidence to prove identity, creditworthiness, and genuineness of the share applicants. 4. Because the learned CIT(A) NFAC has further erred in law and on facts in sustaining an addition of 79,11,500/- allegedly 9

HARDAYAL MILK PRODUCTS PRIVATE LIMITED,SHIKOHABAD vs. DCIT, CIRCLE-2(2)(1), FIROZABAD, FIROZABAD

In the result, both the appeals filed by assessee are allowed

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singh

section 68 of the Act, ignoring that the assessee had duly discharged the initial burden by furnishing all the requisite documentary evidence to prove identity, creditworthiness, and genuineness of the share applicants. 4. Because the learned CIT(A) NFAC has further erred in law and on facts in sustaining an addition of 79,11,500/- allegedly 9

JITENDRA KUMAR AGARWAL HUF,AGRA vs. DCIT, CIRCLE - 2(1)(1), AGRA

In the result, assessee’s appeal is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)

section 68 of the Act applies to unexplained cash credits, not to sales receipts 8 | P a g e recorded in the trading account. Cash sales, when duly entered in the books and supported by corresponding stock movement cannot be treated as unexplained cash credit merely because the Assessing Officer considers the declared volume of sales to be excessive

ACIT, CC, AGRA, AGRA vs. HMA AGRO INDUSTRIES LIMITED,, AGRA

In the result, appeal filed by the assessee for AY 2019-20 is\nallowed and appeals filed by the Revenue in AYs 2021-22, 2022-23 and\n2023-24 are dismissed

68 read with section 263, of the Income-tax Act,\n1961 - Cash credit (Gift) Assessment years 2007-08 and\n2008-09 - Assessee received certain amount as gifts from\nhis father and sister who were non-residents in India\nAssessing Officer after making detailed enquiries, took a\nview that assessee had duly proved identity, source and\ncreditworthiness of donors Commissioner

SHRI OM PRAKASH SINGH,MATHURA vs. ACIT CIRCLE-3, AGRA

In the result appeal is partly allowed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meena

9. We have heard both the sides, perused the material on records and the judgments relied upon. We agree with the argument of the learned Sr. D.R that estimation is a pure question of fact. It is also a fact on record that books of account are rejected by invoking provisions of Section 145(3) of the Act, pointing

B K KESHARWANI, AGRA vs. MADHUR MITTAL, AGRA

In the result, the revenue’s appeal is dismissed

Bench: Ld Cit(A), Who Partly Allowed

section 68 was not satisfactorily discharged. 3 | P a g e 5. That the Ld.CIT(A) has erred in relying on earlier appellate findings of the Ld.CIT(A)-III, New Delhi, order dated 23.07.2014 which were set-aside by the ITAT for fresh verification, there reliance on such earlier observations is misplaced and contrary to the ITAT(s) binding

ITO 1(2), GWALIOR vs. SMT REENA AGRAWAL, GWALIOR

In the result, the appeal is allowed for statistical purposes

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meenaassessment Year: 2012-13

9. Apropos second ground the Ld. DR had drawn our attention to paragraph 5.2.3 of the CIT order wherein this issue was dealt. It was contended by the Ld. DR that the order of the Ld. CIT was premised on the assumption that passbook is not book of account and therefore the provision of section 68

SOURABH KUMAR SONI,ASHOKNAGAR (M.P) vs. ITO - ASHOKNAGAR, ASHOKNAGAR

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

Bench: : Shri Ramit Kocharassessment Year: 2017-18

9. That the decision given by NFAC in the appellate order as "dismissed" is not correct being against the addition at Rs.3,85,518/- made, invoking the provisions of Section 68

LOKENDRA KUMAR GAUTAM,MATHURA vs. ITO WARD, 1(3)(2), MATHURA

In the result, assessee’s appeal is allowed

Bench: : Shri S. Rifaur Rahman & Shri Sunil Kumar Singhassessment Year: 2017-18

section 68 of the Act. 7. Learned DR for revenue supported the orders of the authorities below and submitted that since the source of cash deposits amounting to Rs.1,24,00,000/- was not properly explained by the assessee, the 5 | P a g e learned CIT(Appeals) has rightly sustained the addition made u/s. 68

M/S VERMA SERVICE STATION,FIROZABAD vs. D.C.I.T., RANGE-5, FIROZABAD

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meena

9 SCC 589." (Emphasis supplied). The Assessing Officer, in our view, has recorded a categorical finding that he was satisfied that the assessee I.T.A No. 349/Agra/2018 13 & S.A. No.06/Agra/2018 (in I.T.A No. 349/Agra/2018) had concealed true particulars of income and is liable for penalty proceedings under section 271 read with section 274 of the Income

ACIT, C 2(1)(1), AGRA, AGRA vs. SUNIL KUMAR JOSHAN, AGRA

In the result, the appeal of the revenue is dismissed and cross objection of the assessee is dismissed as infructuous

Bench: Shri M. Balaganesh & Shri Sunil Kumar Singhacit, Vs. Sunil Kumar Joshan, Foot On Shoes, 7Th Circle-2(1)(1), Agra Km Stone, Agra Delhi Bye Pass Road, Agra (Appellant) (Respondent) Pan: Abqpj4015P Co 07/Agr/2025 (In Ita No.494/Agr/2025) (Assessment Year: 2014-15) Sunil Kumar Joshan, Vs. Acit, Foot On Shoes, 7Th Km Circle-2(1)(1), Stone, Agra Delhi Bye Agra Pass Road, Agra (Appellant) (Respondent) Pan: Abqpj4015P

68 read with section 115BBE of the Act without conducting any enquiries on his side. The following are the documentary evidences submitted by the assessee before the Learned AO to prove the nature and source of credit of the aforesaid sums:- Sl Particulars PB No. Page No. 1 Invitation letter of PHI Singapore dated 28.08.2012 with enclosures

ACIT, CC, AGRA, AGRA vs. M/S. UNITED FARM PRODUCT PRIVATE LIMITED, AGRA

In the result, appeal preferred by the revenue is dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhacit, Cc, Vs. M/S. United Farm Product Pvt. Ltd., 2/220, 2Nd Floor, Glory Plaza, Agra. Soor Sadan, M.G. Road, Agra – 282 002 (Agra) (Pan :Aaccu2505M) (Appellant) (Respondent) Assessee By : Shri Sudhir Sehgal, Advocate Shri Deependra Mohan, Ca Revenue By : Shri Arun Kumar Yadav, Cit Dr Date Of Hearing : 13.10.2025 Date Of Order : 04.12.2025 O R D E R Per S. Rifaur Rahman,Am: 1. This Appeal Is Filed By The Revenue Against The Order Of Ld. Commissioner Of Income-Tax (Appeals), Kanpur – 4 Dated 28.03.2025 For Assessment Year2022-23 Raising Following Grounds Of Appeal :- “L. Whether On Facts & Circumstances Of The Case & In Law. The Ld. Cit(A)-Iv. Kanpur Has Erred In Deleting The Addition Of Rs.43,71,37,934/- On Account Of Unexplained Expenditure U/S 69C Of The Act Incurred For Construction Of Plant At Mewat, Haryana, Without Appreciating The Fact That The Assessee Company Itself Has Surrendered Amount Of Rs.41,40,35,700/- & Admitted To Take The Unexplained Expenditure At Rs.43,71,37,934/- Incurred In The 2 Construction Of Said Plant. Hence, The Addition Made By The Ao Is Based On Admittance By The Assessee, Which Is Corroborated By The Incriminating Material Found During The Course Of Search. 2. Whether On Facts & Circumstances Of The Case & In Law, Ld. Cit(A)-Iv. Kanpur Has Erred In Deleting The Addition. Without Appreciating The Facts That The Assessing Officer Has Passed The Assessment Order After Thoroughly Examining & Analysing The Seized Material & Proper Appreciation Of Facts Of Unexplained Expenditure U/S 69C Of The Act.”

section 68 and there was no cogent reason to interfere with same merely because on a reappraisal of entire matter, it might have been possible to form a different opinion - Held, yes.” 8. Considered the rival submissions and material placed on record. We observed that the assessee is incorporated on 21.05.2018, in order to manufacture meat and meat products

ARJUN TRADING CO. PVT. LTD.,FIROZABAD vs. I.T.O.-5(1), FIROZABAD

In the result, the appeal is allowed

Bench: Shri A. D. Jain & Dr. Mitha Lal Meenaarjun Trading Company Private Vs..Ito-5,(1), Ltd. A-4, Ganesh Nagar, Firozabad. Firozabad. Panno.Aadca7230J (Assessee) (Revenue)

section 68, as brought on the statue by the Income Tax Act, 1961, an AO can still adjudge the assessee's claim and if such claim is found not to his satisfaction, the AO may treat the same as unexplained u/s 68 of the Act. While looking to the facts of the instant, appeal, it is thus seen that

PRADEEP JAIN LEGAL HEIR OF JAY NARAYAN,FIROZABAD vs. INCOME TAX OFFICER, WARD 2(2)(2), FIROZABAD

68 unexplained cash deposits/credits\nin his hands, involving varying sums, respectively in his hands.\n4.\nThis being the clinching backdrop involved herein, we sought\nto know from the Revenue side as to whether this appellant Sh.\nPradip Jain has succeeded to the estate of the deceased assessee\nor not so as to be held as the “legal representative” as defined

PUSHPA,MATHURA vs. ITO-1(2)(3), MATHURA

In the result,both appeals are allowed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenashri. Pushpendra Singh. Vs.. Income Tax Officer- 1(2)(3), M-22, Phase-I, Mahavidhya Colony. Agra. Mathura. Pan: Dldps6755P (Appellant) (Respondent) Smt. Pushpa Vs.. Income Tax Officer- 1(2)(3), M-22, Phase-I, Mahavidhya Colony. Agra. Mathura. Pan: Bcopd0484L (Appellant) (Respondent)

9. Per contra, the learned D.R.ShriWaseemArshad, at the outset objected to the submissions made by the learnedA.R and stated that since assessee had not challenged the validity of notice under section 148 of the Act before the authorities below therefore, it cannot be (ASSESSMENT YEAR: 2009-10) allowed to raise this objection at this belated stage and thereby taking

SH. KULDEEP SRIVASTAVA,MATHURA vs. I.T.O., WARD-3(2), MATHURA

Appeal is dismissed

Bench: : Shri Satbeer Singh Godara & Shri Manoj Kumar Aggarwalassessment Year: 2009-10

9,250/- in the names of Kanhiyalal ‘s sons. Kanhiyalal, the assesse’s managing partner, disavowed all knowledge as to the capacity of the creditors to advance the said amounts and, in fact, he admitted that the creditors had no independent source of income and he could not explain the said cash credits. The assesse, however, contended that the creditors

DCIT, CENTRAL CIRCLE, AGRA, AGRA vs. ALNOOR EXPORTS, NEW DELHI

In the result, both the appeals of the revenue are dismissed

68,625/-. During the course of assessment proceedings, the Id AO proceeded to examine the veracity of purchases made by the Assessee. The Assessee furnished the list of parties from whom it had made purchases. The Assessee is a partnership firm engaged in the business of manufacture and export of frozen meat, hide, MBM, poultry feed, tallow etc., from