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1 - 8 of 8 (0.95 seconds)Section 69C in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
Cit vs Nipun Builders & Develpers Pvt. Ltd. on 7 January, 2013
1.8 The Assessing Officer relied on the judgment of Hon'ble High Court In the
case of CIT vs. Nipun Builder & Developer, 350 ITR 407 (DEL) and in which the
Hon'ble High Court has stated that the assessee cannot develop cold feet at
the time of furnishing the details as called for by the Assessing Officer at the time
of assessment proceedings. The court has further stated that continuing
relationship exist between the share applicant as well as the assessee company
who has received substantial amount of monies from these companies.
Section 139 in The Income Tax Act, 1961 [Entire Act]
Section 153A in The Income Tax Act, 1961 [Entire Act]
Kishinchand Chellaram vs The Commr. Of Income-Tax Bombay City Ii, ... on 16 September, 1980
4.7 We find that the addition was solely based on the name written in the
document which was found and seized from the premises of a third person in a
different search action. The statement of the Accountant of searched entity
was not confronted to the assessee. Further no corroborative documents or
evidence was brought by the Revenue to prove as to what was that
unexplained expenditure. The factum of spending money for any particular
purpose has not been proved by the Revenue. Reliance is also placed on the
judgment of Hon'ble Supreme Court in case of Kishinchand Chellaram Vs. CIT,
Bombay wherein it was held that the burden was on the Revenue to show that
the amount have been remitted from the assessee to the other company. In the
instant case also the Revenue has not brought anything on record to prove
even primarily that the amounts have been sent from the assessee to M/s Hansa
Metallic Ltd. The Ld. CIT(A)'s conclusion that the addition needs to be confirmed
in the hands of the assessee on the grounds that M/s Hansa Metallic Ltd has not
entered this amount in their regular books of accounts cannot be accepted as
no material was brought by the Revenue to prove that the transactions indeed
pertains to the assessee.
Estate Of Smt. Abnash Kaur vs Acit Circle 23(1), New Delhi on 17 March, 2015
The
Assessing Officer relied on plethora of judgments namely Smt. Harjit Kaur vs. ACIT
in ITA No.280 of 2013 dtd.
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