The Commissioner Of Income Tax Xiii v. Bharat Bhushan Jain

$~47 to 49, 53, 55 to 62 * IN THE HIGH COURT OF DELHI AT NEW DELHI Decided on: 8th January, 2015 ITA 669/2009 THE COMMISSIONER OF INCOME TAX ANIL KUMAR BANSAL ITA 670/2009 THE COMMISSIONER OF INCOME TAX ANIL KUMAR BANSAL ITA 711/2009 THE COMMISSIONER OF INCOME TAX SADHU RAM AGGARWAL ITA 1075/2009 THE COMMISSIONER OF INCOME TAX XIII ..... Appellant 279/2010,777/2010,1145/2010,1313/2010 and 1326/2010 Page 1

BHARAT BHUSHAN JAIN ITA 1318/2009 THE COMMISSIONER OF INCOME TAX SUNIL JAIN ITA 196/2010 THE COMMISSIONER OF INCOME TAX ANU AGGARWAL ITA 198/2010 THE COMMISSIONER OF INCOME TAX GAURI SHANKAR AGGARWAL ITA 279/2010 COMMISSIONER OF INCOME TAX SANJAY RAI CHOWDHARY ITA 777/2010 THE COMMISSIONER OF INCOME TAX 279/2010,777/2010,1145/2010,1313/2010 and 1326/2010 Page 2

GALLRI DEVI ITA 1145/2010 CIT RASHMI MONGA ITA 1313/2010 COMMISSIONER OF INCOME TAX MONIKA SAXENA ITA 1326/2010 COMMISSIONER OF INCOME TAX MONIKA SAXENA Presence :

Mr. Rohit Madan, Mr.Ruchir Bhatia and Mr.Akash Vajpai, Advocates for the Revenue in ITA Nos. 669/2009, 670/2009, 711/2009, 1075/2009, 1318/2009, 196/2010, 198/2010 279/2010, 777/2010 1145/2010, 1313/2010 & 1326/2010.

Mr. Pranjal Srivastava and Mr. V.M.Chaurasia, Advocates for respondent in ITA Nos. 669/2009, 670/2009 and 1075/2009.

279/2010,777/2010,1145/2010,1313/2010 and 1326/2010 Page 3

Mr. Salil Kapoor & Mr. Vikas Jain, Advocates for respondents in ITA Nos. 711/2009 and 1145/2010.

Mr.Piyush Kaushik, Advocate for respondent in ITA No. 1318/2009 Dr. Rakesh Gupta, Ms.Poonam Ahuja, Mr.Mukul Mathur, Advocates for the respondent in ITA No. 279/2010.

CORAM:

HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE R.K.GAUBA MR. JUSTICE S. RAVINDRA BHAT (OPEN COURT) % For detailed judgment, the decision dated 08.01.2015 in ITA No.648/2009 may be referred to.

S. RAVINDRA BHAT (JUDGE) R.K.GAUBA (JUDGE) JANUARY 08, 2015 mr 279/2010,777/2010,1145/2010,1313/2010 and 1326/2010 Page 4