Aaspas Multimedia Ltd. v. DCIT

405 ITR 512High Court2018#12761 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2025.

Sections most often in play

Section 143(3)Section 147Section 148Section 68Section 131Section 133(6)Section 14ASection 2(47)

Issues it is cited on

section 2(40)paper companybogus ltcgfresh tangible materialprice riggingbeyond four yearsmaterial facts necessary for assessmentshell companybogus long term capital gainmere change of opinionlive linkviolation of natural justice

Judgments citing Aaspas Multimedia Ltd. v. DCIT

Deputy Commissioner of Income Tax, Jalgaon vs. Taradevi Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 497/PUN/2025[2013-14]Status: DisposedITAT Pune27 Oct 2025AY 2013-14

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Suchek Anchaliya andFor Respondent: Shri Amit Bobde, CIT
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…and they were not genuine transactions, it could be said that there was material on basis of which notice under section 148 could be issued. 46. Referring to the decision of the Hon'ble Gujarat High Court in the case of Aaspas Multimedia Ltd. vs. DCIT (2018) 405 ITR 512 (Guj), he submitted that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. He accordingly submitted that the re-assessment proceedings initiated by the Assessing Officer be…

Assistant Commissioner of Income Tax, Jalgaon vs. Sidharth Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 1565/PUN/2024[2018-19]Status: DisposedITAT Pune27 Oct 2025AY 2018-19

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Suchek Anchaliya andFor Respondent: Shri Amit Bobde, CIT
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…and they were not genuine transactions, it could be said that there was material on basis of which notice under section 148 could be issued. 46. Referring to the decision of the Hon'ble Gujarat High Court in the case of Aaspas Multimedia Ltd. vs. DCIT (2018) 405 ITR 512 (Guj), he submitted that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. He accordingly submitted that the re-assessment proceedings initiated by the Assessing Officer be…

Assistant Commissioner of Income Tax, Jalgaon vs. Sidharth Ratanlal Bafna, Jalgaon

In the result, all the above 6 appeals filed by the Revenue are dismissed and

ITA 1555/PUN/2024[2013-14]Status: DisposedITAT Pune27 Oct 2025AY 2013-14

Bench: Shri R. K. Panda & Ms Astha Chandra

For Respondent: S/Shri Suchek Anchaliya and
Section 10(38)Section 132Section 143(3)Section 147Section 148Section 153A

…and they were not genuine transactions, it could be said that there was material on basis of which notice under section 148 could be issued. 46. Referring to the decision of the Hon'ble Gujarat High Court in the case of Aaspas Multimedia Ltd. vs. DCIT (2018) 405 ITR 512 (Guj), he submitted that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. He accordingly submitted that the re-assessment proceedings initiated by the Assessing Officer be…

Raheja Developers Limited, New Delhi vs. DCIT, Central Circle 19, New Delhi

ITA 2284/DEL/2023[2012-13]Status: DisposedITAT Delhi17 Oct 2025AY 2012-13

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwali.T.A. No.2283/Del/2023 (A.Y 2011-12) Raheja Developers Limited Vs Acit W4D-204/5, Keshav Kunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent I.T.A. No.2284/Del/2023 (A.Y 2012-13) Raheja Developers Limited Vs Acit W4D-204/5, Keshavkunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent Assessee By Sh. Neeraj Jain, Ca& Sh. P. K. Mishra, Ca Revenue By Ms.Pooja Swaroop, Cit (Dr) Date Of Hearing 24/07/2025 Date Of Pronouncement 17/10/2025

Section 143(3)Section 147Section 148Section 14ASection 68

…h was passed on to revenue authorities was held to be 'tangible material outside record' to initiate valid reassessment proceedings. (c) In the case of Aaspas Multimedia Ltd. Vs DCIT[2017] 83 taxmann.com 82 (Gujarat)/[2017] 249 Taxman 568 (Gujarat)/[2018] 405 ITR 512 (Gujarat), the Hon'ble Gujarat High court had held that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. (d) In the case of V3S Infratech Ltd. Vs ACIT [2019] 104 taxmann…

Raheja Developers Limited, New Delhi vs. ACIT, Central Circle 19, Delhi

ITA 2283/DEL/2023[2011-12]Status: DisposedITAT Delhi17 Oct 2025AY 2011-12

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwali.T.A. No.2283/Del/2023 (A.Y 2011-12) Raheja Developers Limited Vs Acit W4D-204/5, Keshav Kunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent I.T.A. No.2284/Del/2023 (A.Y 2012-13) Raheja Developers Limited Vs Acit W4D-204/5, Keshavkunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent Assessee By Sh. Neeraj Jain, Ca& Sh. P. K. Mishra, Ca Revenue By Ms.Pooja Swaroop, Cit (Dr) Date Of Hearing 24/07/2025 Date Of Pronouncement 17/10/2025

Section 143(3)Section 147Section 148Section 14ASection 68

…h was passed on to revenue authorities was held to be 'tangible material outside record' to initiate valid reassessment proceedings. (c) In the case of Aaspas Multimedia Ltd. Vs DCIT[2017] 83 taxmann.com 82 (Gujarat)/[2017] 249 Taxman 568 (Gujarat)/[2018] 405 ITR 512 (Gujarat), the Hon'ble Gujarat High court had held that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. (d) In the case of V3S Infratech Ltd. Vs ACIT [2019] 104 taxmann…

DCIT, Central Circle-28, New Delhi vs. Manish Uppal, Delhi

In the result, assessee’s appeal in ITA No

ITA 3061/DEL/2022[2013-14]Status: DisposedITAT Delhi16 May 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Naveen Chandraassessment Year: 2013-14

Section 132(1)Section 143(1)Section 147Section 148Section 153ASection 68

…S LTD GUJARAT HC 78 12. ANKIT FINANCIAL SERVICES LTD GUJARAT HC 78 12. ANKIT FINANCIAL SERVICES LTD GUJARAT HC 78 TAXMANN.COM 58 TAXMANN.COM 58 13. 13. 13. AASPAS AASPAS AASPAS MULTIMEDIA MULTIMEDIA MULTIMEDIA LTD LTD LTD VS VS VS DCIT DCIT DCIT GUJARAT HC HC 405 ITR 512 8 After hearing the rival contentions and perusing the material available on After hearing the rival contentions and perusing the material available on After hearing the rival contentions and perusing the material available on record, we find considerable cogency in the contention of the Ld. AR that in view record, we find considerable cogency i…

Universal Drinks, New Delhi vs. ACIT, Circle-42(1), New Delhi

ITA 2283/DEL/2019[2015-16]Status: HeardITAT Delhi25 Mar 2025AY 2015-16

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwali.T.A. No.2283/Del/2023 (A.Y 2011-12) Raheja Developers Limited Vs Acit W4D-204/5, Keshav Kunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent I.T.A. No.2284/Del/2023 (A.Y 2012-13) Raheja Developers Limited Vs Acit W4D-204/5, Keshavkunj, Central Circle-19 Cariappa Marg, Sainik Farms, New Delhi New Delhi, Pan: Aaacr0468E Appellant Respondent Assessee By Sh. Neeraj Jain, Ca& Sh. P. K. Mishra, Ca Revenue By Ms.Pooja Swaroop, Cit (Dr) Date Of Hearing 24/07/2025 Date Of Pronouncement 17/10/2025

Section 143(3)Section 147Section 148Section 14ASection 68

…h was passed on to revenue authorities was held to be 'tangible material outside record' to initiate valid reassessment proceedings. (c) In the case of Aaspas Multimedia Ltd. Vs DCIT[2017] 83 taxmann.com 82 (Gujarat)/[2017] 249 Taxman 568 (Gujarat)/[2018] 405 ITR 512 (Gujarat), the Hon'ble Gujarat High court had held that where reassessment was made on basis of information received from Principal DIT (Investigation) that assessee was beneficiary of accommodation entries by way of share application provided by a third party, same was justified. (d) In the case of V3S Infratech Ltd. Vs ACIT [2019] 104 taxmann…

ACIT, New Delhi vs. M/S. Maharaji Education Trust, Ghaziabad

The appeal are dismissed

ITA 5138/DEL/2016[2007-08]Status: DisposedITAT Delhi13 Oct 2021AY 2007-08

Bench: Shri Kuldip Singh & Shri Prashant Maharishi(Through Video Conferencing)

For Appellant: Shri Suresh Gupta, C. AFor Respondent: Ms. Paramita M. Biswas[CIT]–
Section 11Section 12ASection 132Section 133ASection 143(1)Section 143(2)Section 143(3)Section 68Section 69Section 69C

…gures given by investigation wing , but not absolute figures based on which re- opening has been made. The figures are given by the Investigation Wing. The ld. DR supported her argument by the decision of Aas Paas Multimedia Ltd. of Hon’ble Gujarat High Court 405 ITR 512 , Ankit Aggarwal of Hon’ble Rajasthan High Court and Mona Mahesh BHojani [2017] 83 taxmann.com 363 (Gujarat) of Hon’ble Gujarat High Court. d. at the time of recording of the reasons, the Assessing Officer is not required to correctly state the quantum of escaped income otherwise what is left to be done at the time of the assessment. It was furth…

Aaspas Multimedia Ltd. v. DCIT (405 ITR 512) — Cited in 8 Judgments | BharatTax