M/S PAZHAYANGADI G GOLD,KANNUR vs. ITO WARD 1 & TPS, KANNUR

In the result, the appeal by the assessee is dismissed

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhailassessment Year : 2018-19 Pazhayangadi G Gold, Ito, Ward-1& Tps, Eazhome Pazhayangadi, Kannur Kannur-670303 Vs. Pan : Aaufp9485G (Appellant) (Respondent) For Assessee : Shri Arun Raj S. Adv. For Revenue : Shri Sanjit Kumar Das, Cit-Dr (Heard In Hybrid Bench) Date Of Hearing : 25-03-2025 Date Of Pronouncement : 27-05-2025 O R D E R

money in the guise of capital, and the source of credits in the capital account is not explained. Accordingly, the AO treated the addition in the capital account amounting to Rs. 3,21,24,523 as unexplained credit and added the same to the returned income of the assessee under section 68

INCOMETAX OFFICER, WARD-, KOTTAYAM vs. PUTHENKUDY PAULOSE BABU, KOTTAYAM

The appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

unexplained money under section 69A of the Act and confirmed the addition. Section 68 of the Act deals with "unexplained

SRI SRAVAN KUMAR NEELA,NALGONDA vs. ACIT CENTRAL CIRCLE 1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

Unexplained money, etc. 69A. Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about

SRI UMA MAHESHWARA RAO CHINNI,GUNTUR vs. ASST COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, KOZHIKODE

In the result, the instant appeals by the assesses are dismissed

Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)

Unexplained money, etc. 69A. Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about

KAIPPALLIL JEWELLERS,ALAPPUZHA vs. THE ASSISSTANT COMMISSIONER OF INCOME TAX CIRCLE, ALAPPUZHA

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

unexplained money under section 68/ 69A of the Act merely because the assessee accepted the same after announcement of demonetization

POTTOLIL AGRO MILLS,PERUMBAVOOR vs. INCOME TAX OFFICER, ALUVA

In the result, the appeal of the assessee bearing ITA No

68, 69, 69A, 69B, 69C or section 69D of the I.T Act, the income\ntax payable shall be charged @ 60% plus surcharge @ 25% of such tax.”\n4.\nThe Ld. DR argued & relied on the order of the revenue\nauthorities.\n5.\nWe have carefully considered the rival submissions and\nexamined the material available on record. The brief facts of the\ncase

THE TRIVANDRUM EMPLOYEES CO-OPERATIVE SOCIETY LIMITED NO. 43,TRIVANDRUM vs. THE ADDITIONAL JOINT DEPUTY ASSISTANT COMMISSIONER OF INCOME TAX, KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 68 suggests that there has to be credit of amounts in the books maintained by an assessee, such credit has to be of a sum during the previous year, and the assessee offers no explanation about the nature and source of such credit found in the The Trivandrum Employees Co-operative Society Ltd. books: or the explanation offered

THE TRIVANDRUM EMPLOYEES CO-OPERATIVE SOCIETY LIMITED NO. 43,THIRUVANANTHAPURAM vs. THE INCOME TAX OFFICER, THIRUVANANTHAPURAM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 68 suggests that there has to be credit of amounts in the books maintained by an assessee, such credit has to be of a sum during the previous year, and the assessee offers no explanation about the nature and source of such credit found in the The Trivandrum Employees Co-operative Society Ltd. books: or the explanation offered

THE ACIT, ERNAKULAM vs. M/S. THOMSON METALS, TRICHUR

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

section 68 of the I.T.Act. When an assessee records credit in the name of third party in its books of account, it must prove not only the identity of the creditors, the capacity of the creditors to advance money, but also the genuineness of the transaction. The onus of proving ITA No.124/Coch/2017. 9 M/s.Thomson Metals. the source

THE ACIT, KOLLAM vs. M/S.SABARI MILLENIUM IMPEX P. LTD, KOCHI

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained cash credits u/s. 68 of the Act. From the above, it is seen that, the AO has himself accepted that the transactions are through banking channels, and, therefore, genuineness of these transactions cannot be doubted. However, the AO suspects that there is a possibility of round tripping of funds or ploughing back of funds is also a possibility

THE ACIT, KOLLAM vs. M/S.SABARI SWITCH GEAR (P) LTD, CHENNAI

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained cash credits u/s. 68 of the Act. From the above, it is seen that, the AO has himself accepted that the transactions are through banking channels, and, therefore, genuineness of these transactions cannot be doubted. However, the AO suspects that there is a possibility of round tripping of funds or ploughing back of funds is also a possibility

THE ACIT, KOLLAM vs. M/S.SABARI SWITCH GEAR (P) LTD, CHENNAI

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained cash credits u/s. 68 of the Act. From the above, it is seen that, the AO has himself accepted that the transactions are through banking channels, and, therefore, genuineness of these transactions cannot be doubted. However, the AO suspects that there is a possibility of round tripping of funds or ploughing back of funds is also a possibility

THE ACIT, KOLLAM vs. M/S.SABARI MILLENIUM IMPEX P. LTD, KOCHI

In the result, the appeals filed by the Revenue and cross objections filed by the assessee are dismissed

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained cash credits u/s. 68 of the Act. From the above, it is seen that, the AO has himself accepted that the transactions are through banking channels, and, therefore, genuineness of these transactions cannot be doubted. However, the AO suspects that there is a possibility of round tripping of funds or ploughing back of funds is also a possibility

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, THRISSUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained

THE ACIT, CEN-CIRCLE-2, ERNAKULAM, ERNAKULAM vs. M/S.THOMSON AGENCIES, THRISSUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained

THE ACIT, CEN-CIRCLE-2, KOCHI, KOCHI vs. M/S.THOMSON AGENCIES, TRICHUR

In the result, the appeals filed by the Revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

unexplained and added the same to the income of the assessee-firm u/s 68 of the I.T.Act. The relevant finding of the Assessing Officer in making the addition u/s 68 of the I.T.Act, concerning assessment year 2006-2007 reads as follows:- “4.1 Cash credits in the form of current account capital: On verification of the cash book maintained