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1 - 10 of 14 (0.25 seconds)Section 68 in The Income Tax Act, 1961 [Entire Act]
Section 133A in The Income Tax Act, 1961 [Entire Act]
Section 131 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
The Principal Commissioner Of Income ... vs M/S Ram Krishnan Kulwant Rai Holdings ... on 29 October, 2021
CIT vs. Kulwant rai in 291 ITR 36 (Delhi High Court)
"16. This cash flow statement furnished by the assessee was rejected by
the AO which is on the basis of suspicion that the assessee must
have spent the amount for some other purposes. The orders of AO as
well as CIT(A) are completely silent as to for what purpose the
earlier withdrawals would have been spent. As per the cash book maintained
by the assessee, a sum of Rs. 10,000 was being spent for household
expenses every month and the assessee has withdrawn from bank a sum of
Rs. 2 lacs on 4th Dec., 2000 and there was no material with the
Department that this money was not available with the assessee. It has
been held by the Tribunal that in the instant case the withdrawals shown by
the assessee are far in excess of the cash found during the course of search
proceedings. No material has been relied upon by the AO or CIT(A) to
support their view that the entire cash withdrawals must have been
spent by the assessee and accordingly, the Tribunal rightly held that the
15
ITA No.337 & 341/DEL/2023
assessment of Rs. 2.5 lacs is legally not sustainable under s. 158BC of the
Act and the same was rightly ordered to be deleted..."
Rajesh Garg, New Delhi vs Ito, Ward-40(2), New Delhi on 12 December, 2018
Anupama Chaudhary Vs ITO; ITA No. 4155(Del)/2009; dt. 27/12/2010
"6.2 We have considered the facts of the case and submissions made before
us............. Other deposits stand explained by earlier withdrawals.
Therefore, nothing further can be added to the total income in respect of such
deposits.
Kanpur Steel Co. Ltd. vs Commissioner Of Income-Tax, Uttar ... on 18 February, 1957
Kanpur Steel Co. Ltd. Vs CIT; [1957] 32 ITR 56 (ALL. HC)
"...Section 69Aof the Income-tax Act, 1961 [Corresponding to section 23 of
the Indian Income-tax Act, 1922] - Unexplained money etc. - Assessment year
1948-49 - In pursuance of High Denomination Bank Notes (Denomination)
Ordinance, 1946, assessee-company exchanged 32 high denomination notes -
Regarding source of these high denomination notes, assessee claimed that
these notes represented part of its cash balance - ITO, however, rejected
claim of assessee and held that amount represented by those currency notes
was suppressed income of assessee - Tribunal, though did not find assessee's
explanation to be false, yet it deleted only a part of amount added back by
ITO as income from undisclosed sources - Whether when assessee-company
had given an explanation which was reasonable, revenue authorities could
treat amount in question as income from undisclosed sources only if there
was some other material from which such inference could have been drawn
Dcit, New Delhi vs M/S Parnika Commercial Estates Pvt. ... on 10 September, 2018
DCIT Vs Smt. Veena Awasthi; ITA No.215/LKW/2016; dt.