16 Nelumbo Paints Pvt. Ltd. v. ITO

2 SCC 401Reported decision2014#13687 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2021 to 2023.

Issues it is cited on

nav method dcf method strategic investment section 56(2)(viib)valuation of shares section 251(1)commercial expediency section 56(2)fair market value share application money limited scrutiny section 56

Judgments citing 16 Nelumbo Paints Pvt. Ltd. v. ITO

Manhar Yarns Private Limited, Ballabgarh vs. ITO Ward-1(5), Faridabad

In the result, the Appeal of the Assessee is partly allowed

ITA 97/DEL/2021[2016-17]Status: DisposedITAT Delhi20 Jun 2023AY 2016-17

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

For Appellant: Sumangla Saxena, Adv &For Respondent: . Arvind Kumar Bansal

Section 143(3)Section 251(1)Section 271(1)(c)Section 56(2)Section 56(2)(viib)Section 68

…1 Manhar Yarns Pvt. Ltd. Vs. ITO IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH: ‘E’ NEW DELHI ] BEFORE DR. B. R. R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER I.T.A. No. 97/DEL/2021 (A.Y. 2016-17) Manhar Yarns Pvt. Ltd. Vs. ITO 103/B Near Shyamji Mandir, Ward-1(5) Malerna Road, Adarsh Nagar, C. R. Building, Faridabad Ballabhgarh, Haryana Haryana PAN No. AAICM8265G ( RESPONDENT ) ( APPELLANT ) Sh. Rajiv Saxena, Adv, Ms. Assessee by : Sumangla Saxena, Adv & Sh. Dishant Sethi, Adv Department by: . Arvind Kumar Bansal, Sr. DR Date of Hearing 05.06.2023 Date of Pronouncement 20…

Movefast Tour & Travels Pvt. Ltd, Faridabad vs. ITO Ward-1(5), Faridabad

In the result, the Appeal of the Assessee is partly allowed

ITA 96/DEL/2021[2016-17]Status: DisposedITAT Delhi20 Jun 2023AY 2016-17

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 96/Del/2021 (A.Y. 2016-17) Movefast Tour & Travels Pvt. Ltd. Vs. Ito Plot No. 1066, Baba Nagar, Near Ward-1(5) Janta Barat Ghar, Faridabad, C. R. Building, Faridabad Haryana Haryana Pan No. Aaicm2608P ( Respondent ) ( Appellant )

For Appellant: Sumangla Saxena, Adv &For Respondent: . Arvind Kumar Bansal

Section 143(3)Section 251(1)Section 271(1)(c)Section 56Section 56(2)(viib)Section 68

…r, we placed reliance on the Judgment of Gujarat High Court in the case of IMC Limited and ors Vs. Union of India and ors (10/05/2019 Guj High Court) MANU/GJ/0860 2019 wherein it is held as under:- “Karnataka and Ors., reported in MANU/SC/0994/2013 : (2014) 2 SCC 401, reiterated the proposition of law that when the statute provides for a particular procedure, the authority has to follow the same and cannot be permitted to act in contravention of the same. In other words where a statute requires to do a certain thing in a certain way, the thing must be done in that way and not contrary to it at all. Other method…

Nelumbo Paints Pvt. Ltd., Haryana vs. ITO Ward 2(1), Haryana

In the result, the Appeal of the Assessee is partly allowed

ITA 85/DEL/2021[2016-17]Status: DisposedITAT Delhi20 Jun 2023AY 2016-17

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

For Appellant: Sumangla Saxena, Adv &For Respondent: . Arvind Kumar Bansal

Section 143(3)Section 251(1)Section 271(1)(c)Section 56Section 56(2)(viib)Section 68

…of Gujarat High Court in the case of IMC Limited and ors Vs. Union of India and ors (10/05/2019 Guj High Court) MANU/GJ/0860 2019 wherein it is held as under:- 16 Nelumbo Paints Pvt. Ltd. Vs. ITO “Karnataka and Ors., reported in MANU/SC/0994/2013 : (2014) 2 SCC 401, reiterated the proposition of law that when the statute provides for a particular procedure, the authority has to follow the same and cannot be permitted to act in contravention of the same. In other words where a statute requires to do a certain thing in a certain way, the thing must be done in that way and not contrary to it at all. Other method…

Abhi Soaps Private Limited, Faridabad vs. ITO Ward - 1(1), Faridabad

In the result, the Appeal of the Assessee is partly allowed

ITA 79/DEL/2021[2016-17]Status: DisposedITAT Delhi20 Jun 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri Yogesh Kumar U.S.

For Appellant: Sumangla Saxena, AdvFor Respondent: Sh. Kanv Bali, Sr. DR

Section 133(6)Section 143(3)Section 251(1)Section 271(1)(c)Section 56Section 56(2)(viib)Section 68

Movefast Automobiles Private Limited, Haryana vs. ITO Ward-1(5), Faridabad

In the result, the Appeal of the Assessee is partly allowed

ITA 101/DEL/2021[2016-17]Status: DisposedITAT Delhi20 Jun 2023AY 2016-17

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

For Appellant: Sumangla Saxena, Adv &For Respondent: . Arvind Kumar Bansal

Section 143(3)Section 251(1)Section 271(1)(c)Section 56(2)Section 56(2)(viib)Section 68

…1 Movefast Automobiles Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH: ‘E’ NEW DELHI ] BEFORE DR. B. R. R. KUMAR, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER I.T.A. No. 101/DEL/2021 (A.Y. 2016-17) Movefast Automobiles Pvt. Ltd. Vs. ITO FF-9, Vishnu Place Near Neelam Ward-1(5) flyover, Sector-20B, Haryana 20- C. R. Building, Faridabad B, Haryana Haryana PAN No. AAICM2607C ( RESPONDENT ) ( APPELLANT ) Sh. Rajiv Saxena, Adv, Ms. Assessee by : Sumangla Saxena, Adv & Sh. Dishant Sethi, Adv Department by: . Arvind Kumar Bansal, Sr. DR Date of Hearing 05.06.2023 Date of Pronounc…

Madhava Home Decor Pvt Ltd, Faridabad vs. ITO Ward - 1(5), Faridabad

In the result, the Appeal of the Assessee is partly allowed

ITA 82/DEL/2021[2016-17]Status: DisposedITAT Delhi16 Jun 2023AY 2016-17

Bench: Dr. B. R. R. Kumar & Shri Yogesh Kumar U.S.

For Appellant: Sumangla Saxena, Adv &For Respondent: . Arvind Kumar Bansal

Section 143(3)Section 251(1)Section 271(1)(c)Section 56Section 56(2)(viib)Section 68

…er, we placed reliance on the Judgment of Gujrat High Court in the case of IMC Limited and ors Vs. Union of India and ors (10/05/2019 Guj High Court) MANU/GJ/0860 2019 wherein it is held as under:- “Karnataka and Ors., reported in MANU/SC/0994/2013 : (2014) 2 SCC 401, reiterated the proposition of law that when the statute provides for a particular procedure, the authority has to follow the same and cannot be permitted to act in contravention of the same. In other words where a statute requires to do a certain thing in a certain way, the thing must be done in that way and not contrary to it at all. Other method…

Principal Commissioner of Income Tax 1 Kolkata vs. Nipha Exports Pvt Ltd

ITAT/107/2021HC Calcutta08 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 420

…nda Kishore Roy reported in (2010) 8 SCC 442; Bank of Baroda –Vs. – Govind Ram Agarwal reported in (2007) 3 CHN 60; Md. Ibrahim & Ors. –Vs. – State of Bihar & Ors. reported in (2009) 8 SCC 751; Vinod Natesan –Vs. – State of Kerala & Ors. reported in (2019) 2 SCC 401. Mr. Sabyasachi Banerjee, learned Advocate appearing for the complainant/opposite party denied the allegations advanced by the learned Advocate appearing for the accused/petitioner although he admitted that the petitioner and the opposite party are married since 1988 and presently the parties are estranged as marital discord has set in…