INFOMEDIARY INDIA PVT LTD vs. COMISSIONER OF INCOME TAX

Appeals of the assessee are allowed

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

COMMISSIONER OF INCOME TAX-III vs. SHAM MOHAN PVT LTD

Appeals of the assessee are allowed

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

COMMISSIONER OF INCOME TAX vs. VIJAY FOILS P.LTD.

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

CIT vs. LAXMAN INDUSTRIAL RESOURCES LTD

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

COMMISSIONER OF INCOME TAX vs. VIJAY FOILS P.LTD.

Appeals of the assessee are allowed

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

INFOMEDIARY INDIA PVT LTD vs. COMMISSIONER OF INCOME TAX

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

CIT vs. JH FINVEST PVT LTD

Appeals of the assessee are allowed

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 68 of the IT Act' The assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels; (3) the creditworthiness or financial strength of the creditor/subScriber' (4) If relevant details of the address or PAN identity of the creditor/subscriber

JUDGEMENTopens in new window

Section 68 of the Act where money was not sourced from the assessee. In support of this plea, reliance was placed on paragraph 3(ix) of the deviation report. (viii) The deviation report categorically rejected the assessee’s books of accounts while considering the issue regarding bogus purchases. In this context, the deviation report also emphasized the fact that

JUDGEMENTopens in new window

Section 68 of the Act where money was not sourced from the assessee. In support of this plea, reliance was placed on paragraph 3(ix) of the deviation report. (viii) The deviation report categorically rejected the assessee’s books of accounts while considering the issue regarding bogus purchases. In this context, the deviation report also emphasized the fact that

JUDGEMENTopens in new window

Section 68 of the Act where money was not sourced from the assessee. In support of this plea, reliance was placed on paragraph 3(ix) of the deviation report. (viii) The deviation report categorically rejected the assessee’s books of accounts while considering the issue regarding bogus purchases. In this context, the deviation report also emphasized the fact that

JUDGEMENTopens in new window

Section 68 of the Act where money was not sourced from the assessee. In support of this plea, reliance was placed on paragraph 3(ix) of the deviation report. (viii) The deviation report categorically rejected the assessee’s books of accounts while considering the issue regarding bogus purchases. In this context, the deviation report also emphasized the fact that

STRYTON EXIM INDIA P.LTD,NEW DELHI vs. ITO, WARD-24(2), NEW DELHI

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

Bench: Shri Kuldip Singh & Shri Prashant Maharishisa No. 665/Del/2018 (In Ita No. 5982/Del/2018) (Assessment Year: 2014-15) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent)

section 68 of the Act to the satisfaction of the AO, otherwise he shall be free to proceed against the assessee company and make addition u/s 68 of the Act as unexplained cash credit. 5.3 Now, in the light of above, it has to be seen, as discussed above, to what extent, appellant has been able to satisfy

SRI JAGDISH PRASAD SHARMA,NEW DELHI vs. ITO, GHAZIABAD

The appeal of the assessee is dismissed

Bench: Shri Prashant Maharishi & Shri K.N.Charysri Jagdish Prasad Sharma, Vs. Ito, C/O. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2Nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi Pan: Azpps2130R (Appellant) (Respondent)

section 68 of the income tax act. Thus the additional ground raised by the assessee is dismissed. 17. Coming to the merits of the case the learned Commissioner of income tax appeal has decided the above issue holding as under:- “4. During appeal proceedings the counsel of the appellant attended and made following written submission:- “Brief Facts The appellant

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1 NOIDA, NOIDA vs. M/S ACE RESIDENCY PVT. LTD, GHAZIABAD

In the result, appeal of the Revenue in ITA No

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section 68 stood fulfilled.( Refer Page No. 103-104 of the CIT(A) order of M/s Allure Developers Pvt Ltd. for AY 2020-21). In this regard reliance is being placed upon the following judicial pronouncements:- i. Principal Commissioner Of Income Tax-4 Vs. Hi-Tech Residency (P.) Ltd. [2018] 96 Taxmann.Com 403 (Sc)/[2018] 257 Taxman

DY. COMMISSIONER OF INCOME TAX, NOIDA vs. STAR LANDCRAFT PRIVATE LIMITED, GHAZIABAD

In the result, appeal of the Revenue in ITA No

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section 68 stood fulfilled.( Refer Page No. 103-104 of the CIT(A) order of M/s Allure Developers Pvt Ltd. for AY 2020-21). In this regard reliance is being placed upon the following judicial pronouncements:- i. Principal Commissioner Of Income Tax-4 Vs. Hi-Tech Residency (P.) Ltd. [2018] 96 Taxmann.Com 403 (Sc)/[2018] 257 Taxman

DY. COMMISSIONER OF INCOME TAX, NOIDA vs. STAR LANDCRAFT PRIVATE LIMITED, GHAZIABAD

In the result, appeal of the Revenue in ITA No

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section 68 stood fulfilled.( Refer Page No. 103-104 of the CIT(A) order of M/s Allure Developers Pvt Ltd. for AY 2020-21). In this regard reliance is being placed upon the following judicial pronouncements:- i. Principal Commissioner Of Income Tax-4 Vs. Hi-Tech Residency (P.) Ltd. [2018] 96 Taxmann.Com 403 (Sc)/[2018] 257 Taxman

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1 NOIDA, NOIDA vs. M/S ALLURE DEVELOPERS PVT. LTD, NEW DELHI

In the result, appeal of the Revenue in ITA No

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section 68 stood fulfilled.( Refer Page No. 103-104 of the CIT(A) order of M/s Allure Developers Pvt Ltd. for AY 2020-21). In this regard reliance is being placed upon the following judicial pronouncements:- i. Principal Commissioner Of Income Tax-4 Vs. Hi-Tech Residency (P.) Ltd. [2018] 96 Taxmann.Com 403 (Sc)/[2018] 257 Taxman

DY COMMISSIONER OF INCOME TAX, NOIDA vs. M/S ALLURE DEVELOPERS PRIVATE LIMITED, DELHI

In the result, appeal of the Revenue in ITA No

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section 68 stood fulfilled.( Refer Page No. 103-104 of the CIT(A) order of M/s Allure Developers Pvt Ltd. for AY 2020-21). In this regard reliance is being placed upon the following judicial pronouncements:- i. Principal Commissioner Of Income Tax-4 Vs. Hi-Tech Residency (P.) Ltd. [2018] 96 Taxmann.Com 403 (Sc)/[2018] 257 Taxman