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Documents citing Commr.Of Income Tax,Gujarat vs Gupta Global Exim (P) Ltd on 6 May, 2008

Asstt. Commissioner Of Income Tax, ... vs Mahalaxmi Infracontract Private ... on 31 May, 2024

Our contract is for hiring for motor vehicles (Dumpers, Tippers) which are being exclusively used for transportation of excavated earth belongs to principal and not us. or Minerals which It may please be noted that, considering the judgment of the Hon'ble Supreme Court in CIT v. Gupta Global Exim (P.) Ltd. (2008) 171 Taxmann 474 the correct test which the authorities below had to apply was whether the appellant was in the business of transportation and whether the vehicles were used in the said business is proved beyond doubt on above basis.
Income Tax Appellate Tribunal - Ahmedabad Cites 39 - Cited by 0 - Full Document

Apco Motors(India) Pvt.Ltd.,, ... vs Department Of Income Tax on 19 March, 2015

The decisions of various courts are in favor of the Department where the difference in quantity on the basis of stock statement given to the bank and as per books remained unexplained. There is no such difference in this case and accordingly these decisions do not apply. As against this, the decisions of honorable Gujarat High Court relied upon by the appellant and quoted in the appellant's submission are clearly applicable to the facts of this case. All the decisions referred in the appellant's submission are on the identical facts and therefore appellant's case is covered by these decisions. The findings in these decisions are not repeated here but the same is squarely applicable to the facts of the appellant and accordingly the addition on account of stock difference value (not quantity difference) made by the assessing officer cannot survive. Respectfully following the decision of jurisdictional High Court in the case of CIT v. Arrow Exim (P) Ltd [2010] 230 CTR 293 and other decisions quoted by the appellant, the addition made by the AO is deleted.
Income Tax Appellate Tribunal - Ahmedabad Cites 16 - Cited by 0 - Full Document

Rajesh Gokulchand Agrawal,Mumbai vs Income Tax Officer, Wd-41(3)(3), ... on 23 July, 2025

11. We find that Hon'ble Bombay High Court in CIT Vs Nikunj Eximp Enterprises (P) Ltd (supra) held that mere non-compliance, by seller to notice under section 133(6) would not disprove the transaction where sales are supported with sufficient evidence. We further find that neither the books profit is questioned by the assessing officer nor the corresponding sales of the assessee are disputed. We find that overall purchases of assessee during the relevant financial year is of more than Rs. 9.50 crore and the disputed purchases are merely 5.00% of total purchases No sale is possible in absence of purchases. We also find that the assessee has prima facia discharged his onus to substantiate the credit of purchases. Thus, in such circumstances, the disallowances of 100% of purchases from Rajshree are not justified. Therefore, considering overall facts and circumstance of the case in hand and in order to avoid the possibility of revenue leakage 12.5% of impugned 8 ITA No. 2257/Mum/2025 Rajesh Gokulchand Agrawal purchases will meet the end of justice. In the result, the grounds of appeal raised by the assessee are partly allowed.
Income Tax Appellate Tribunal - Mumbai Cites 11 - Cited by 0 - Full Document

Asstt. Commissioner Of Income Tax,, ... vs Mahalaxmi Infracontract Pvt. Ltd., ... on 31 May, 2024

Our contract is for hiring for motor vehicles (Dumpers, Tippers) which are being exclusively used for transportation of excavated earth belongs to principal and not us. or Minerals which It may please be noted that, considering the judgment of the Hon'ble Supreme Court in CIT v. Gupta Global Exim (P.) Ltd. (2008) 171 Taxmann 474 the correct test which the authorities below had to apply was whether the appellant was in the business of transportation and whether the vehicles were used in the said business is proved beyond doubt on above basis.
Income Tax Appellate Tribunal - Ahmedabad Cites 39 - Cited by 0 - Full Document

Asstt. Commissioner Of Income Tax, ... vs Mahalaxmi Infracontract Private ... on 31 May, 2024

Our contract is for hiring for motor vehicles (Dumpers, Tippers) which are being exclusively used for transportation of excavated earth belongs to principal and not us. or Minerals which It may please be noted that, considering the judgment of the Hon'ble Supreme Court in CIT v. Gupta Global Exim (P.) Ltd. (2008) 171 Taxmann 474 the correct test which the authorities below had to apply was whether the appellant was in the business of transportation and whether the vehicles were used in the said business is proved beyond doubt on above basis.
Income Tax Appellate Tribunal - Ahmedabad Cites 39 - Cited by 0 - Full Document

Brinks Arya India P. Ltd, Mumbai vs Department Of Income Tax on 7 February, 2013

Under the aforesaid facts and circumstances, the decision relied on by the Ld.DR in CIT vs. Gupta Global Exim P. Ltd is distinguishable and not applicable to the facts of the present case. That being so and keeping in view that the revenue has failed to controvert the finding of the ld. CIT[A], we are of the view that the assessee is entitled to claim depreciation @ 40% and accordingly, we are inclined to uphold the finding of the ld. CIT[A] in directing the AO to allow depreciation on security vans @ 40%. The ground taken by the revenue is, therefore, rejected."
Income Tax Appellate Tribunal - Mumbai Cites 1 - Cited by 0 - Full Document

Brinks Arya India P.Ltd, Mumbai vs Department Of Income Tax on 1 July, 2013

Under the aforesaid facts and circumstances, the decision relied on by the Ld.DR in CIT vs. Gupta Global Exim P. Ltd is distinguishable and not applicable to the facts of the present case. That being so and keeping in view that the revenue has failed to controvert the finding of the ld. CIT[A], we are of the view that the assessee is entitled to claim depreciation @ 40% and accordingly, we are inclined to uphold the finding of the ld. CIT[A] in directing the AC to allow depreciation on security vans @ 40%. The ground taken by the revenue is, therefore, rejected."
Income Tax Appellate Tribunal - Mumbai Cites 4 - Cited by 0 - Full Document

Srei Infrastructure Finance Ltd.,, New ... vs Assessee on 24 December, 2008

3.6.1. We would first consider the judgement relied upon by the department namely CIT, Gujarat vs. Gupta Global Exim P.Ltd. 305 ITR 132 (S.C.). A perusal of the same shows that the assessee therein was in the business of timber trading and occasionally gave out the trucks owned by it to outside parties on hire. The A.O.'s view of rejecting the claim of higher depreciation was upheld by CIT(A) which was affirmed by the Tribunal and the Hon'ble High Court on appeal refused to interfere on the ground that the matter was essentially one of fact. In appeal the decision of Hon'ble High Court was set aside and the issue was remanded back for fresh decision to the CIT(A) holding that no question of law arose in the matter. The CIT(A) was directed to decide the question as to whether the assessee who was engaged in the business of importing timber logs from abroad and selling them in India was in the business of running the trucks for hire on account of the "occasional user" of hiring out these trucks. Their Lordships were careful in observing that they expressed no opinion on the merits of the case and the assessee was given liberty to seek amendments of the grounds of appeal if so advised and the contentions were kept open both for the assessee and for the department. Thus on a careful perusal of the principle laid down therein it does not help the department in any manner.
Income Tax Appellate Tribunal - Delhi Cites 49 - Cited by 0 - Full Document
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