T.G. RANGANATH,BANGALORE vs. DCIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

Unexplained cash credits in cash book 2010-11 6. Net income from real estate - sale of timber 97,99,000 70,00,000 - May/June 2009 not accounted in books 27,99,000 Grand total 5,03,80,530 5,03,80,530 4.1 However, in response to the AO's notice u/s 148 of the Act dated 14/10/2010, requiring

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K. G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

BMM ISPAT LIMITED,HOSPET vs. DCIT, BANGALORE

In the result, Revenue’s appeal for Assessment Year 2011-12 is dismissed

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

Unexplained cash credit in the form of Share Application Money of Rs. 56,40,00,000/- - this addition was protectively made in the hands of the assessee and the Ld. CIT-A has deleted the same. The department is in appeal on this issue in ITA 1113/B/15. 2)Addition of Rs. 12,95,46,334/- as unaccounted cash payments

MR. MOHAMMED SAFWAN,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. M. A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU vs. MR. MOHAMMED SAFWAN, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. M.A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. M.A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. M.N. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. M.A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

MR. MOHAMMED SAFWAN,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU vs. MR. MOHAMMED SAFWAN, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

unexplained cash credits. As per para 5.4.5 of his order, learned CIT (A) confirmed this addition by giving a vague finding that the assessee is a well to do person and is receiving gift from relatives and employees who are persons of ITA No.62 to 66, 67, 68,88 & 89/Bang/2020 Page 33 of 54 comparatively smaller means but the dispute

VEERANNA MURTHY RAGHAVENDRA DEEKSHITH,BENGALURU vs. INCOME TAX OFFICER, WARD 6(2)(4), BENGALURU

In the result, the appeal filed by assessee is partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

unexplained cash credit by not accepting the fact that the entire cash deposits are part of the Turnover. Further the ld. AR submitted that the AO has not verified demonetized currency as per the notification/circular issued by the CBDT from time to time. 12. The ld. D.R. on the other hand, supported the orders of authorities below. 13. We have