ACIT, Circle- 14(1)(1), Mumbai vs. M/S. Akshay Infrastructure Pvt. Ltd., Mumbai
In the result, the appeal filed by the revenue is dismissed
ITA 2923/MUM/2022[2013-14]Status: DisposedITAT Mumbai04 Sept 2023AY 2013-14
Bench: Shri Br Baskaran & Shir Pavan Kumar Gadaleacit, Circle – 14(1)(1) Vs. M/S.Akshayinfrastructure Room No. 432, Pvt Ltd.102, 4Th Floor, Siddhivinayak Chsl, Aayakar Bhavan, Tilak Nagar, M.K. Road, Chembur, Mumbai- 400020. Mumbai-400089 Pan/Gir No. : Aahca2331A Appellant .. Respondent Assessee By : Mr.Ajaysingh&Yogeshjoijode.Ar Revenue By : Mr.Manoj Kumar.Dr Date Of Hearing 03.07.2023 Date Of Pronouncement 04.09.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi /Cit(A) Mumbai Passed U/Sec 250 Of The Act. The Revenue Has Raised The Fallowing Grounds Of Appeal. 1."On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Deleting The Addition Made By The A.O. Of Rs2,03,00,000/- On Account Of Disallowance U/S 68 Of The Income Tax Act Merely Relying On The Submissions Made By The A.R. Of The Assessee & On The Basis Of
For Appellant: Mr.AjaySingh&YogeshJoijode.ARFor Respondent: Mr.Manoj Kumar.DR
Section 143(2)Section 143(3)Section 68
…Pr. CIT v. Chain House International Pvt Ltd (2018) 174 DTR 97 (MP)(HC) iii.ITO-4(3)(1) v. M/s. Nita Jajoo Ventures Pvt. Ltd. ITA No.2890/Mum/2017, dated 13/08/2021 (Mum-Trib.). iv. Ancon Chemplast (P.) Ltd v. Income Tax Officer, Ward- 2(4), [2022] 93 ITR (T) 189 ITD 156 (Delhi-Trib) 9. The disputed issue arises with respect to share application money received along with share premium pending allotment in F.Y.2012-13 The assessee has issued preference shares to M/s Vidhata Management services Pvt Ltd at a premium and due to search u/sec132 of the Act on the group, the statements were recorded by the investigatio…
