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1 - 10 of 22 (0.24 seconds)The Commissioner Of Income Tax-I vs Sh. Varinder Rawlley on 28 January, 2014
In the case of CIT v. Varinder Rawley (2014) 366 ITR 232
(P & H) the court held that "where the assessee shows that the entries
regarding credit in a third party's account were in fact received from
the third party and are genuine, he discharges the onus. In that case,
the sum cannot be charged as the assessee's income in the absence of
any material to indicate that it belongs to assessee", particularly in a
case where no summons u/s 131 is issued against the third party.
Section 131 in The Income Tax Act, 1961 [Entire Act]
R. Dharmichand Kothari(D) Th Legal Rep. vs Commissioner Of Income Tax. on 3 November, 2014
iii) Nemichand Kothari vs. CIT(2004) 136 Taxman 213 (GAU)
Section 148 in The Income Tax Act, 1961 [Entire Act]
Deputy Commissioner Of Income-Tax vs Rohini Builders on 19 March, 2001
18. The Hon'ble Gujarat High Court in the case of Dy. CIT vs Rohini
Builders - [256 ITR 360] held that where loans were received by the
assessee by account payee cheques and the repayment of loans have
also been made by account payee cheques along with interest in relation
to those loans and that the assessing officer having allowed the interest
claimed/paid by the assessee in relation to the cash credits cannot treat
the cash credits as not genuine. It held that the assessee had discharged
the initial onus which lay on it in terms of Section 68 by proving the
identity of the creditors by giving their complete addresses, PAN nos. and
copies of assessment orders wherever readily available and that has also
proved the capacity of the creditors by showing that the amounts were
received by the assessee by account payee cheques drawn from the bank
accounts of the creditors. It held that the assessee is not expected to
prove the genuineness of the cash deposited in the bank accounts of
those creditors because under law the assessee can be asked to prove
the source of the credits in its books of accounts but not the source of the
source.
Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd on 19 March, 1986
The
aforesaid points were also affirmed in the past by the Appex Court in
the case of CIT v. Orissa Corporation P. Ltd reported in (1986) 159
ITR 78 (SC).
Commissioner Of Income Tax-Ii vs Julania Finance Pvt. Ltd. on 9 September, 2010
i) CIT vs Tania Investments Pvt Ltd. (2010) 322ITR 3W (BOM)
Assistant Commissioner Of Income Tax vs Ats Promoters And Builders Pvt. Ltd. on 2 July, 2015
x) CIT vs. H.S Builders Pvt Ltd. (2012) 26 Taxmann.com 86 (Raj)