ACIT, CENTRAL CIRCLE-13, NEW DELHI vs. DOUBLE PLUS SOFTWARE P.LTD, NEDW DELHI

ITA 4745/DEL/2018Status: DisposedITAT Delhi16 September 2025AY 2010-1142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the addition of Rs. 190 crores on the ground of double taxation was not justified as the appellate proceedings for the other companies were not final. The matter was remanded for fresh hearing on merits regarding the addition under Section 68.

What were the facts?

The assessee company received Rs. 190 crores as share capital and premium. This amount was invested in three other companies, which in turn returned the funds through a series of inter-company endorsements of cheques. The Assessing Officer treated this as unexplained cash credit.

What were the issues?

Whether the introduction of share capital through a circular transaction of cheque endorsements constitutes an unexplained cash credit under Section 68, and if taxing the same income in multiple companies amounts to double taxation.

Which sections of the Income-tax Act were involved?

Section 68

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, DELHI BENCH: B NEW DELHI

Before: SHRI MAHAVIR SINGH, HONBLE(AS

For Appellant: Shri Manoj Kataruka, Adv
For Respondent: Ms. Meenakshi Dohare, CIT DR
Hearing: 15.09.2025Pronounced: 16.09.2025

PER MS. MADHUMITA ROY: JUDICIAL MEMBER: The instant appeal filed by the Department is directed against the order dated 29.03.2018 passed by the Ld. CIT(A)-3, Delhi arising out of the assessment order dated 25.03.2013 issued by the ITO, Ward-10(4), New Delhi under Section 143(3) of the Income-Tax Act, 1961 (“the Act”)

Page 2 Double Plus Software Pvt. Ltd. whereby and whereunder the addition to the tune of Rs.190,00,000 under Section 68 of the Act has been de

The order continues below.

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