458, 220 Taxman 165). (iv). CIT v. Frostair Pvt. Ltd. (

210 Taxmann 221High Court#3458 most cited

What is 458, 220 Taxman 165). (iv). CIT v. Frostair Pvt. Ltd. ( authority for?

When an assessee company receives share capital and premium, the onus is on the company to establish the identity, capacity, creditworthiness, and genuineness of the transaction. If this is not established, additions under section 68 of the Income Tax Act are sustainable.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2023.

Also referred to as

CIT v. Frostair Pvt. Ltd. · Section 68 · share capital · premium contribution · identity · capacity · creditworthiness · genuineness · addition · tax authorities · Assessing Officer

Judgments citing 458, 220 Taxman 165). (iv). CIT v. Frostair Pvt. Ltd. (

ITO, New Delhi vs. M/S. Sohail Financials Ltd., New Delhi

ITA 4867/DEL/2011[2008-09]Status: DisposedITAT Delhi28 Sept 2018AY 2008-09

Bench: Shri Kuldip Singh & Shri Prashant Maharishiito, Vs. Sohail Financials Ltd, Ward-9(1), C-19, Kirti Nagar, New Delhi New Delhi Pan: Aabcs3643M (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Shri S.K. Tewari, Sr. DR
Section 131Section 132Section 143(2)Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”: NEW DELHI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITO, Vs. Sohail Financials Ltd, Ward-9(1), C-19, Kirti Nagar, New Delhi New Delhi PAN: AABCS3643M (Appellant) (Respondent) Revenue by : Shri S.K. Tewari, Sr. DR Assessee by: None Date of Hearing 24/09/2018 Date of pronouncement 28/09/2018 O R D E R PER PRASHANT MAHARISHI, A. M. 1. This appeal is filed by the revenue against the order of the ld CIT(A)-XII, New Delhi dated 24.08.2011 for the Assessment Year 2008-09, raising following effective two grounds of appeal:- “1…

DCIT, New Delhi vs. M/S. Sutlej Agro Products Ltd., New Delhi

In the result, all the appeals of the Revenue are dismissed

ITA 289/DEL/2015[2006-07]Status: DisposedITAT Delhi14 Sept 2018AY 2006-07

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Section 132(2)Section 143(2)Section 153CSection 68

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘G’, New Delhi Before : Shri Bhavnesh Saini, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 289 to 293/Del./2015 Assessment Year: 2006-07 to 2010-11 DCIT, Central Circle-31, vs. M/s. Sutlej Agro Products Ltd., New Delhi. 30, Community Centre, Saket, New Delhi. (PAN- AAACS 4232K) (Appellant) (Respondent) Revenue by Shri S.S. Rana, CIT/DR Assessee by Shri Amol Sinha, Adv. & Shri Ashvini Kumar, Adv. Date of Hearing 30.08.2018 Date of Pronouncement 14.09.2018 ORDER Per L.P. Sahu, A.M.: The bunch of above fives appeals at the instance of the R…

Sukumar Enterprises Pvt. Ltd., New Delhi vs. ITO, Ward 24(3), New Delhi

The appeals are partly allowed

ITA 6074/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jul 2018AY 2014-15

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 68

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No. 6074/DEL/2017 (A.Y 2014-15) Sukumar Enterprises Pvt. Ltd. Vs ITO C-30, Panchsheel Enclave, Ward 24(3) New Delhi New Delhi PAN: AANCS9800L (APPELLANT) (RESPONDENT) AND I.T.A .No. 6072/DEL/2017 (A.Y 2014-15) Sanskriti Traces (P) Ltd. Vs ITO C-30, Panchsheel Enclave, Ward 24(3) New Delhi New Delhi PAN: AAQCS8755B (APPELLANT) (RESPONDENT) Appellant by Sh. P. C. Yadav, Advocate Respondent by Sh. S. S. Rana, CIT DR Date of Hearing 22.06.2018 Date of Pr…

Sanskriti Tradex (P) Ltd., New Delhi vs. ITO, Ward 24(3), New Delhi

The appeals are partly allowed

ITA 6072/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jul 2018AY 2014-15

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 68

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No. 6074/DEL/2017 (A.Y 2014-15) Sukumar Enterprises Pvt. Ltd. Vs ITO C-30, Panchsheel Enclave, Ward 24(3) New Delhi New Delhi PAN: AANCS9800L (APPELLANT) (RESPONDENT) AND I.T.A .No. 6072/DEL/2017 (A.Y 2014-15) Sanskriti Traces (P) Ltd. Vs ITO C-30, Panchsheel Enclave, Ward 24(3) New Delhi New Delhi PAN: AAQCS8755B (APPELLANT) (RESPONDENT) Appellant by Sh. P. C. Yadav, Advocate Respondent by Sh. S. S. Rana, CIT DR Date of Hearing 22.06.2018 Date of Pr…

M/S. Nova Iron & Steel Ltd., New Delhi vs. DCIT, Ltu, New Delhi

In the result, appeal of the assessee-company is

ITA 2159/DEL/2014[2007-08]Status: DisposedITAT Delhi31 Oct 2017AY 2007-08

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri Ashwanikumar, C.A. &For Respondent: Smt.Shafali Swaroop, CIT-DR &
Section 153CSection 234ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : “E” NEW DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA.No.2159/Del./2014 Assessment Year 2007-2008 M/s. Nova Iron & Steel Ltd., F-Block, 1st Floor, vs. The DCIT, LTU, Central Circle- International Trade Tower, 19, Nehru Place, New Delhi. New Delhi. 110001 PAN AAACN0407F (Appellant) (Respondent) For Assessee : Shri Ashwanikumar, C.A. & Shri Adityakumar, C.A. For Revenue : Smt.Shafali Swaroop, CIT-DR & Ms. Renu Amitabh, CIT-DR Date of Hearing : 24.10.2017 Date of Pronouncement : 31.10.2017 ORDER PER BHAVNESH SAI…

M/S. Galgotia Books & Departmental Store Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 7017/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri H.S. Sidhu, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 6583 & 7016/Del./2014 Assessment Years: 2008-09 & 2009-10 M/s. Galgotia Infotech Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AABCG6075B) (Appellant) (Respondent) ITA Nos. 6579, 7019, 6580 & 7020/Del./2014 Assessment Years: 2008-09 to 2011-12 M/s. Galgotia Software Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AAC…

M/S. Galgotia Infotech Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 6583/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri H.S. Sidhu, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 6583 & 7016/Del./2014 Assessment Years: 2008-09 & 2009-10 M/s. Galgotia Infotech Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AABCG6075B) (Appellant) (Respondent) ITA Nos. 6579, 7019, 6580 & 7020/Del./2014 Assessment Years: 2008-09 to 2011-12 M/s. Galgotia Software Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AAC…

M/S. Galgotia Software Pvt. Ltd., New Delhi vs. ACIT, Noida

ITA 6579/DEL/2014[2008-09]Status: DisposedITAT Delhi25 Sept 2017AY 2008-09

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 142(1)Section 153A

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘C’, New Delhi Before : Shri H.S. Sidhu, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 6583 & 7016/Del./2014 Assessment Years: 2008-09 & 2009-10 M/s. Galgotia Infotech Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AABCG6075B) (Appellant) (Respondent) ITA Nos. 6579, 7019, 6580 & 7020/Del./2014 Assessment Years: 2008-09 to 2011-12 M/s. Galgotia Software Pvt. Ltd., vs. A.C.I.T., Central Circle, 4405/6, Prakash Apartments-II, Noida. 5, Ansari Road, Daryaganj, New Delhi (PAN-AAC…

ACIT, New Delhi vs. M/S. Victory Township Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6235/DEL/2014[2008-09]Status: DisposedITAT Delhi24 Mar 2017AY 2008-09

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…

ACIT, New Delhi vs. M/S. Victory Dwellings Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6230/DEL/2014[2009-10]Status: DisposedITAT Delhi24 Mar 2017AY 2009-10

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…

ACIT, New Delhi vs. M/S. Victory Dwellings Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6228/DEL/2014[2007-08]Status: DisposedITAT Delhi24 Mar 2017AY 2007-08

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…

ACIT, New Delhi vs. M/S. Victory Structures Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6225/DEL/2014[2008-09]Status: DisposedITAT Delhi24 Mar 2017AY 2008-09

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…

Victory Township Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6215/DEL/2014[2010-11]Status: DisposedITAT Delhi24 Mar 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…

Victory Dwellings Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6208/DEL/2014[2009-10]Status: DisposedITAT Delhi24 Mar 2017AY 2009-10

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs Acit, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA Nos. 6208 & 6209/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Dwellings Pvt. Ltd., Vs ACIT, 208, Gupta Tower, Azadpur Central Circle-09, Commercial Complex, Azadpur, New Delhi New Delhi-110033 (APPELLANT) (RESPONDENT) ITA Nos. 6228, 6230 & 6231/Del/2014 : Asstt. Years : 2007-08, 2009-10 & 2010-11 ACIT, Vs Victory Dwellings Pvt. Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) PAN No. AACCV2862N ITA Nos.…