PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL) 1 vs. NRA IRON AND STEEL PVT. LTD. THROUGH DIRECTOR

Bench: HON'BLE THE CHIEF JUSTICE

Cash credits- Where any sum is found credited in the book of an Assessee maintained for any previous year, and the Assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income-tax as the income

THE COMMISSIONER OF INCOME TAX JAIPUR vs. PRAKASH CHAND LUNIA (D) THR LRS

Bench: HON'BLE MR. JUSTICE M.R. SHAH

68, 69 and 69A to 69D of the Act, which deals with unexplained income, expenditure etc., it can never be said that the same would be brought under Section 37(1) of the Act, despite the fact that the objective behind both the provisions are overlapping with some connection. CIVIL APPEAL NO. 7689-7690 OF 2022 8 Section 115BBE being

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

unexplained cash credits under Section 68 Rs. 19,16,000.00 (iv) Lease rentals of cinematographic films held to be bogus

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

unexplained money, bullion, jewellery or other valuable articles. Section 69A was inserted by Amending Act 5 of 1964 and it came into effect w.e.f. 01.04.1964. Both Sections require that the subject matter of the provisions, viz., investments in the case of Section 69 and money, bullion, jewellery or other valuable articles in the case of Section 69A are not recorded

VIJAY KUMAR TALWAR vs. COMMNR. OF INCOME TAX, DELHI

The appeals are dismissed

credit entries appeared in the register seized during the search. In his reply dated 22nd May, 1995, the assessee stated that the said cash receipts were realisations of the sales effected in the earlier years by 4 the erstwhile firm. Subsequently, the assessee was given three more opportunities on 2nd June 1995, 16th June, 1995, and 3rd July

DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL) CIRCLE 1(2) vs. M/S M.R. SHAH LOGISTICS PVT. LTD

Appeal is allowed in these terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

Cash declared by Garg Logistics was utilized to make investment in assessee company through paper companies remains unexplained. Besides, in the case of Trinetra Commerce & Trade(P) Ltd in [2016]75 taxmann.com 70(Calcutta) it was seen that assessee- company had received share capital from persons/entities whose identity, creditworthiness etc were not established. Addition u/s 68 was made been made

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

credit facilities from the bank. 21.5. It is the submission of learned counsel for the assessee that the High Court has erred in holding that even in the absence of the entire books of accounts, the assessee had not furnished the documents and particulars required under Section 139 (9) (f) of the Act. According to the High Court since