ACIT, CENTRAL CIRCLE-2(1), MUMBAI vs. M/S LUXORA REALTORS P. LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Bleacit – Central Circle – 2(1) V. M/S. Luxora Realtors Pvt. Ltd., Room No. 804, 8Th Floor Soham House, Hari Om Nagar Aayakar Bhavan, M.K. Road Opp. Eastern Express Highway Mumbai - 400020 Mulund(E), Mumbai – 400081 Pan: Aabco3197J (Appellant) (Respondent) Assessee By : Shri Kishore Dewani Department By : Ms. Shailja Rai

Section 68 of the I.T. Act only sets up a Presumption against the Assessee whenever unexplained 18 M/s. Luxora Realtors Pvt. Ltd., credits are found in the books of accounts of the Assessee. It cannot but be gainsaid that the presumption is rebuttable. In refuting the presumption raised, the initial burden is on the Assessee. This burden, which

UMESH AMBIKAPRASAD MISHRA,MUMBAI vs. ITO 10(3)(3), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per\nabove direction

68, the relevant part of which provides that:\nWhere any sum is found credited in the books of an assessee\nmaintained for any previous year, and the assessee offers no\nexplanation about the nature and source thereof or the explanation\noffered by him is not, in the opinion of the Assessing Officer,\nsatisfactory, the sum so credited may be charged

UMESH A MISHRA,MUMBAI vs. ITO 10(3)(3), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per\nabove direction

68, the relevant part of which provides that:\nWhere any sum is found credited in the books of an assessee\nmaintained for any previous year, and the assessee offers no\nexplanation about the nature and source thereof or the explanation\noffered by him is not, in the opinion of the Assessing Officer,\nsatisfactory, the sum so credited may be charged

BHANDARI GOLD AND JEWELLERS PRIVATE LIMITED,MUMBAI vs. CIT (APPEAL), NFAC - DELHI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

68 by proving the identity of the creditors by giving their complete addresses, GIR Numbers/Permanent Account Numbers and the copies of assessment orders wherever readily available. It has also proved the capacity of the creditors by showing that the amounts were received by the assessee by account payee cheques drawn from bank account of the creditors and Page

CY. CIT 6(1) (2) , MUMBAI vs. M/S. BHANDARI GOLD & JEWELLERS PVT. LTD, MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

68 by proving the identity of the creditors by giving their complete addresses, GIR Numbers/Permanent Account Numbers and the copies of assessment orders wherever readily available. It has also proved the capacity of the creditors by showing that the amounts were received by the assessee by account payee cheques drawn from bank account of the creditors and Page

FAIYAZ YUNUS PATEL,MUMBAI vs. INCOME TAX OFFICER 27(1)(4), MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Faiyaz Yunus Patel, Ito-27(1)(4), Flat No. 602, Vmk Chs, Room No. 409, 4Th Floor, Tower Vs. Lbs Marg, Chirag Nagar, No. 6 Vashi Railway Station Ghatkopar (W), Commercial Complex Vashi, Mumbai-400086. Navi Mumbai-400703. Pan No. Akxpp 9040 L Appellant Respondent

239/- as unexplained cash as unexplained cash credit under section 68 of the Act. credit under section 68

KALSHA BUILDERS P. LTD,NAVI MUMBAI vs. ACIT 6(2), MUMBAI

In the result, appeals of the Assessee are allowed

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

239. In this case, the assessee had certain entries in his books of account showing receipts from his wife and 25 ITA No.7643-2013 & 1808-2015 M/s. Kalsha Builders Pvt . Ltd., minor son. Since he was not able to explain the source of income in the hands of his wife and son, the Assessing Officer made additions under section 68

KALSHA BUILDERS P.LTD,NAVI MUMBAI vs. ACIT 6(2), MUMBAI

In the result, appeals of the Assessee are allowed

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

239. In this case, the assessee had certain entries in his books of account showing receipts from his wife and 25 ITA No.7643-2013 & 1808-2015 M/s. Kalsha Builders Pvt . Ltd., minor son. Since he was not able to explain the source of income in the hands of his wife and son, the Assessing Officer made additions under section 68

SWAMI VIVEKANAND TRADING & EDUCATION CENTRE P.LTD,HYDERABAD vs. DCIT 4(3), MUMBAI

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

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Swami Vivekanand Trading & Education Centre P. Ltd. Dcit-4(3) 6-3-655/2/3 1St Floor, Mumbai Vs. Somajigudda, Hyderabad, Mumbai-400 082 (Appellant) (Respondent) Pan No. Aadcs1050N Assessee By : Shri P. Murali Mohal Rao, Ca Revenue By : Shri Manoj Kumar Singh, Dr Date Of Hearing: 27.03.2024 Date Of Pronouncement : 28.03.2024

68 of the income tax act as unexplained cash credit. He made such addition. Accordingly the assessment order under section 143 (3) of the act was passed on 18/3/2014 determining total income of the assessee at ₹ 41,506,670 against the returned loss of ₹ 12,239

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

M.R. CONSTRUCTION,.,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

DCIT CEN CIR 22, MUMBAI vs. M.R. CONSTRUCTION, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

M.R. CONSTRUCTION,MUMBAI vs. ACIT CEN CIR 22,

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

ASST CIT CC-22, MUMBAI vs. JAWAHAR PUROHIT, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

ACIT CEN CIR 22, MUMBAI vs. M.R. CONSTRUCTION, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

M.R. CONSTRUCTION,.,MUMBAI vs. ASST CIT CEN CIR 22, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since

JAWAHAR B. PUROHIT,MUMBAI vs. ASST CIT CEN CIR 22XC, MUMBAI

In the result, in the case of M

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

section 133A on 16- 11-2009 may be seen in which he has stated that these bills are bogus and no transaction has taken place. 3. Sundry Page Page 31- 24,00,000 This amount Debtors No. No. 03- Is on 19,20 10, 2005 account of point amount b) of receivable 9.1 from debtor Shayona Corporation. Since