(Central)-1 v. NRA Iron & Steel (P) Ltd.

103 Taxmann.com 48Supreme Court of India2019#76 most cited

What is (Central)-1 v. NRA Iron & Steel (P) Ltd. authority for?

When assessing cash credits, share capital, or loans, the assessee bears the onus to prove the identity, creditworthiness, and genuineness of transactions. This burden is not discharged merely by documentary evidence if field inquiries reveal accommodation entries or dealings with paper/shell companies.

696

judgments rely on this decision, according to BharatTax’s citation analysis of 371,887 Indian tax judgments — from 2011 to 2026.

Also referred to as

NRA Iron & Steel · (Central)-1 v. NRA Iron & Steel · Section 68 · cash credit · share capital · share application money · unexplained loan · onus of proof · creditworthiness · genuineness of transaction · paper company · shell company · accommodation entries

Sections most often in play

Section 68Section 143(3)Section 147Section 10(38)Section 148Section 69CSection 131Section 133(6)

Issues it is cited on

price riggingbogus share capitalbogus long term capital gainonus of proofpenny stockpaper companypreponderance of probabilitycreditworthiness of the creditorsection 10(38)bogus ltcgshell companysource of source

Judgments citing (Central)-1 v. NRA Iron & Steel (P) Ltd.

M/S Trimurthy Finvest Limited, Bilaspur vs. The Deputy Commissioner of Income Tax, Circle 1(1), Bilaspur

In the result, appeal of the assesse company being devoid and bereft of any merit is dismissed in terms of our aforesaid observations

ITA 19/RPR/2018[2014-15]Status: DisposedITAT Raipur14 Aug 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpia

For Appellant: Shri Harsh Vijayvargiya, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 131(1)(d)Section 133ASection 143(2)Section 143(3)Section 250Section 68

…आयकर अपीलीय अिधकरण "ायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI ARUN KHODPIA, ACCOUNTANT MEMBER Sl. ITA No. Name of Appellant Name of Respondent Asst. Year No. 1. 19/RPR/2018 M/s. Trimurti Finvest Ltd, The Deputy 2014-15 Kamla Hari Villa, Commissioner of Mani Road, Vidya Nagar, Income Tax, Bilaspur-495 001 Circle-1(1), Bilaspur PAN: AAACT6383N Assessee by : Shri Harsh Vijayvargiya, CA Revenue by : Shri V.K Singh, CIT-DR सुनवाई की तारीख / Date of Hearing : 08.06.2023 घोषणा की तारीख / Date of Pronouncement : 14.08.2023 आदेश / ORDE…

ITO, Ward-5(1), Kolkata vs. Shreen Hire Purchase (P) Ltd, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 22/KOL/2021[2012-13]Status: DisposedITAT Kolkata08 Aug 2023AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No. 22/Kol/2021 Assessment Year: 2012-2013 Income Tax Officer,................................Appellant Ward-5(1), Kolkata Aayakarbhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Shreen Hire Purchase (P) Limited,...........Respondent 89, N.S. Road, Kolkata-700001 [Pan: Aamcs4023L] Appearances By: Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Assessee Shri Vijay Kumar, Addl. Cit, Sr. D.R., Appeared On Behalf Of The Revenue

Section 14ASection 250Section 68

…ITA No. 22/KOL/2021 Assessment Year: 2012-2013 Shreen Hire Purchase (P) Limited IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH, KOLKATA Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member I.T.A. No. 22/KOL/2021 Assessment Year: 2012-2013 Income Tax Officer,................................Appellant Ward-5(1), Kolkata AayakarBhawan, P-7, Chowringhee Square, Kolkata-700069 -Vs.- Shreen Hire Purchase (P) Limited,...........Respondent 89, N.S. Road, Kolkata-700001 [PAN: AAMCS4023L] Appearances by: Shri Manoj Kataruka, Advocate, appeared on behalf of the assessee Shri Vijay Kumar, Addl…

Krutika Rajendra Jain, Mumbai vs. Income Tax Officer, Ward-19(2)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 139/MUM/2023[2011-12]Status: DisposedITAT Mumbai28 Jul 2023AY 2011-12

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

Section 10(38)Section 147Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “H” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Narender Kumar Choudhry (JM) I.T.A. No. 139/Mum/2023 (A.Y. 2011-12) Vs. ITO, Ward 19(2)(2) Krutika Rajendra Jain 2405, Panchratna 2nd Floor Mama Parmanand Marg Matru Mandir Opera House Grant Road Mumbai-400 004. Mumbai-400 007. PAN : AGSPJ9797K (Appellant) (Respondent) Assessee by Shri Karan Jain Department by ShriPrakash Kishinchandani Date of Hearing 26.07.2023 Date of Pronouncement 28.07.2023 O R D E R Per B.R.Baskaran (AM) :- The assessee has filed this appeal challenging the order dated 28.11.2022 pas…

Income Tax Officer-33(3)(3), Mumbai vs. Sanajy Mahabir Maheshka, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 6169/MUM/2019[2012-13]Status: DisposedITAT Mumbai27 Jul 2023AY 2012-13

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “SMC” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Narender Kumar Choudhry (JM) I.T.A. No. 6168/Mum/2019 (A.Y. 2011-12) I.T.A. No. 6169/Mum/2019 (A.Y. 2012-13) Vs. Sanjay Mahabir Maheshka ITO-33(3)(3) Room No. 751 1702, No. 4B, Whispering 7th Floor Palms, Lokhandwala Kautilya Bhavan Complex, Kandivali East BKC, Bandra East Mumbai-400 101. Mumbai-400 051. PAN : AAFPM5407L (Appellant) (Respondent) Assessee by Shri Bhupendra Shah, CA Department by Shri Naganath B. Pasale Date of Hearing 20.07.2023 Date of Pronouncement 27.07.2023 O R D E R Per B.R.Baskaran…

Income Tax Officer-33(3) (3), Mumbai vs. Shri Sanajy Mahabir Maheshka, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 6168/MUM/2019[2011-12]Status: DisposedITAT Mumbai27 Jul 2023AY 2011-12

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “SMC” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Narender Kumar Choudhry (JM) I.T.A. No. 6168/Mum/2019 (A.Y. 2011-12) I.T.A. No. 6169/Mum/2019 (A.Y. 2012-13) Vs. Sanjay Mahabir Maheshka ITO-33(3)(3) Room No. 751 1702, No. 4B, Whispering 7th Floor Palms, Lokhandwala Kautilya Bhavan Complex, Kandivali East BKC, Bandra East Mumbai-400 101. Mumbai-400 051. PAN : AAFPM5407L (Appellant) (Respondent) Assessee by Shri Bhupendra Shah, CA Department by Shri Naganath B. Pasale Date of Hearing 20.07.2023 Date of Pronouncement 27.07.2023 O R D E R Per B.R.Baskaran…

DCIT, CC-2(4), Kolkata. vs. Narsingh Ispat Limited., Kolkata

In the result, appeal of the revenue is dismissed

ITA 255/KOL/2023[2012-13]Status: DisposedITAT Kolkata26 Jul 2023AY 2012-13

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

For Appellant: Shri S.K. Tulsiyan, Advocate & Ms. PujaFor Respondent: Shri P.P. Barman, Addl. CIT Sr. D/R
Section 131Section 143(2)Section 250Section 68

…subscribed to shares of the assessee company at a premium who is the ultimate beneficiary. 3. Whether on the facts and circumstances of the case, the CIT (A) erred in law in ignoring the observations of the Hon'ble Apex Court in case of NRA Iron & Steel P Ltd 103 Taxmann.com 48, as the of inquiry and analysis made by the AO established that assessee has failed to prove identity, creditworthiness and genuineness of the transaction. 4. Whether on facts of the case and in law Ld. CIT (A) erred in holding the transaction to be genuine on the basis a the facts that transaction were through banking Channel without appr…

Mahendra Parakh, Mumbai vs. ACIT, Circl20(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1566/MUM/2023[2014-15]Status: DisposedITAT Mumbai26 Jul 2023AY 2014-15

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm)

Section 10(38)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “SMC” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Narender Kumar Choudhry (JM) I.T.A. No. 1566/Mum/2023 (A.Y. 2014-15) Vs. ACIT, Circle-20(2) Mahendra Parakh 59 Narpat Nagar Room No. 217, 2nd Pal Road, Jodhpur Floor, Piramal Rajasthan-342005 Chambers Lalbagug PAN : AABPP6520D Mumbai-400 012. (Appellant) (Respondent) Assessee by Shri Siddharth Kothari Department by Shri Naganath B. Pasale Date of Hearing 19.07.2023 Date of Pronouncement 26.07.2023 O R D E R Per B.R.Baskaran (AM) :- The assessee has filed this appeal challenging the order dated 31.3.2023…

Assistant Commissioner of Income Tax Circle-1, Jammu vs. M/S Mohd Asraf Sheikh, Jammu

In the result, the appeal of the Revenue is allowed

ITA 212/ASR/2019[2015-16]Status: DisposedITAT Amritsar26 Jul 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Vinay Jamwal, CAFor Respondent: Smt. Ratinder Kaur, Sr. DR
Section 68

…he facts of the case and material brought on record which remained uncontroverted by the appellant assessee and that he has not appreciated the principle laid down by the Hon’ble Supreme Court of India in the case of “PCIT Vs. NRA Iron and Steel Pvt. Ltd.”, 412 ITR 161 (SC) where the Apex Court while discussing genuineness of share capital laid down the general principles that would apply to judge the genuineness of a transaction, and creditworthiness of the creditor. He further submitted that the Ld. CIT(A) was in error in holding that onus had shifted to AO without appreciating the primary facts that asses…

Mystuc Ekectribucs Limited, Mumbai vs. DCIT-CC-4(3) Mumbai, Mumbai

In the result, both the appeals filed by the assessee are partly allowed and both the appeals filed by the revenue are dismissed

ITA 5867/MUM/2019[2014-15]Status: DisposedITAT Mumbai24 Jul 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Gagan Goyal

For Appellant: Shri Nishikant Gandhi & VishnuFor Respondent: Smt. Riddhi Mishra (CIT-DR)
Section 143(2)Section 143(3)Section 145(3)Section 153CSection 250Section 68

…not the only criteria to judge creditworthiness, d. laying down a basis/formula for the above addition which is not supported by any express provision of law, e. following the principles laid down by the Apex Court in the case of NRA Iron & Steel Pvt. Ltd. [412 ITR 161 (SC)] and by the Delhi High Court in the case of D. K. Garg [84 taxmann.com 257] without appreciating that the facts of the said cases are totally distinguishable with the facts of the appellant and in any event while summarizing the principles that emerged from the decision of the Delhi High Court in the case of D. K. Garg (supra) did not apprec…

Mukta Agriculture Ltd., Mumbai vs. DCIT(CC)-4(3), Mumbai

In the result, both the appeals filed by the assessee are partly allowed and partly allowed for statistical purposes respectively and both the appeals filed by the revenue are dismissed

ITA 5778/MUM/2019[2014-15]Status: DisposedITAT Mumbai24 Jul 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Gagan Goyal

For Appellant: Shri Nishikant Gandhi & VishnuFor Respondent: Smt. Riddhi Mishra (CIT-DR)
Section 133(6)Section 143(2)Section 143(3)Section 145(3)Section 153CSection 250Section 68

…not the only criteria to judge creditworthiness, C. laying down a basis/formula for the above addition which is not supported by any express provision of law, d. following the principles laid down by the Apex Court in the case of NRA Iron & Steel Pvt. Ltd. [412 ITR 161 (SC)] and by the Delhi High Court in the case of D. K. Garg [84 taxmann.com 257] without appreciating that the facts of the said cases are totally distinguishable with the facts of the appellant, e. not appreciating that identity, genuineness & creditworthiness of the persons from whom the share capital of Rs. 6,95,00,000/- was received stood fu…

Pinky Agarwal, Kolkata vs. ACIT, CC-3(1), Kolkata

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 984/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

…कोलकाता 'बी' पीठ, कोलकाता म" IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA "ी संजय गग", "ाियक सद" एवं डॉ. मनीष बोरड, लेखा सद" के सम" Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 982/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd....………………...............Appellant [PAN: AABCG 1634 L] Vs. ACIT, CC-3(1), Kolkata.................................................................Respondent I.T.A. No.: 983/KOL/2018 Assessment Year: 2014-2015 M/s. Nishit Agarwal Beneficiary Trust....…...................................Appellant [PAN: AA…

M/S. Nishit Agarwal Beneficiary Trust, Kolkata vs. ACIT, CC - 3(1), Kolkata

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 983/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

…कोलकाता 'बी' पीठ, कोलकाता म" IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA "ी संजय गग", "ाियक सद" एवं डॉ. मनीष बोरड, लेखा सद" के सम" Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 982/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd....………………...............Appellant [PAN: AABCG 1634 L] Vs. ACIT, CC-3(1), Kolkata.................................................................Respondent I.T.A. No.: 983/KOL/2018 Assessment Year: 2014-2015 M/s. Nishit Agarwal Beneficiary Trust....…...................................Appellant [PAN: AA…

M/S. Gateway Financial Services Ltd., Kolkata vs. ACIT, CC - 3(1), Kolkata

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 982/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

…कोलकाता 'बी' पीठ, कोलकाता म" IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA "ी संजय गग", "ाियक सद" एवं डॉ. मनीष बोरड, लेखा सद" के सम" Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 982/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd....………………...............Appellant [PAN: AABCG 1634 L] Vs. ACIT, CC-3(1), Kolkata.................................................................Respondent I.T.A. No.: 983/KOL/2018 Assessment Year: 2014-2015 M/s. Nishit Agarwal Beneficiary Trust....…...................................Appellant [PAN: AA…

Pratik Agarwal Beneficiary Trust, Kolkata vs. ACIT, C.C.-3(1), Kolkata

In the result, all the appeals of the assessee(s) are allowed as per the terms indicated hereinabove

ITA 2068/KOL/2018[2014-15]Status: DisposedITAT Kolkata14 Jul 2023AY 2014-15

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 250

…कोलकाता 'बी' पीठ, कोलकाता म" IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA "ी संजय गग", "ाियक सद" एवं डॉ. मनीष बोरड, लेखा सद" के सम" Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 982/KOL/2018 Assessment Year: 2014-2015 M/s. Gateway Financial Services Ltd....………………...............Appellant [PAN: AABCG 1634 L] Vs. ACIT, CC-3(1), Kolkata.................................................................Respondent I.T.A. No.: 983/KOL/2018 Assessment Year: 2014-2015 M/s. Nishit Agarwal Beneficiary Trust....…...................................Appellant [PAN: AA…

Pingash Home Appliances Private Limited, Faridabad vs. ITO Ward-2(1), Faridabad

In the result, appeal of the assessee is allowed

ITA 106/DEL/2021[2016-17]Status: DisposedITAT Delhi07 Jul 2023AY 2016-17

Bench: Shri Saktijit Dey, Vice- & Shri Girish Agrawal

For Appellant: Shri Rajiv Saxena and Shyam Sunder, AdvsFor Respondent: Shri Ram Dhan Meena, Sr. DR
Section 143(2)Section 143(3)Section 250(2)Section 251(1)Section 271Section 56Section 56(2)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘H’ NEW DELHI BEFORE SHRI SAKTIJIT DEY, VICE-PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No.l06/Del/2021 Assessment Year: 2016-17 Pingash Home Appliances ACIT, Circle 4(1), Pvt. Ltd. Gurgaon Plot No. 1043, near Pier Vs. Baba, Baba Nagar, Old (Haiyana). Faridabad. (PAN: AAHPC6538Q) (Appellant) (Respondent) Present for: Appellant by : Shri Rajiv Saxena and Shyam Sunder, Advs. Respondent by : Shri Ram Dhan Meena, Sr. DR Date of Hearing : 03.07.2023 Date of Pronouncement : O'J.07.2023 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal fi…

The Principal Commissioner of Income Tax vs. M/s. Khyathi Steel Industries Pvt. Ltd

In the result, we pass the following:

ITA/85/2020HC Karnataka04 Jul 2023

Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA

Section 143(1)Section 143(2)Section 260Section 68

…g particular reference to the nineteenth investor, Shri A. Shankar, submitted that the Directors of the said Company and the Directors of the Assessee are one and the same. In substance, Shri Shankar’s argument is that in obedience to AO's directions, 5 412 ITR 161 (SC) paragraph 3.9 - 7 - NC: 2023:KHC:22962-DB ITA No.85 of 2020 all nineteen Companies have submitted their papers before ADIT. The Revenue had all the material before it to call for further information, if any, required and to take action against the investors and in case of the nineteenth Investor, the Department has taken a…

ITO, Ward-5(1), Kolkata vs. M/S Bpo Finance and Investments Pvt Ltd, Kolkata

In the result, the appeal of the revenue stands dismissed

ITA 99/KOL/2022[2008-09]Status: DisposedITAT Kolkata04 Jul 2023AY 2008-09

Bench: Shri Sanjay Garg & Rajesh Kumari.T.A No.99/Kol/2022 Assessment Year: 2008-09 Ito, Ward-5(1), Kolkata……..........................................................……Appellant Vs. M/S Bpo Finance & Investments Pvt. Ltd. .……........……..…..…..Respondent R No.54,5/1, Clive Row (2Nd Floor), Kolkata-1. [Pan: Aaccb5328F] Appearances By: Shri Manish Tiwari, Ar Appeared On Behalf Of The Appellant. Shri Vijay Kumar, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 15, 2023 Date Of Pronouncing The Order : July 04, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 10.09.2020 Of The Commissioner Of Income Tax (Appeals)-13, Kolkata (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue Originally Has Taken The Following Grounds Of Appeal: “1. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,000,00/- Made By The Assessing Officer On Account Of Share Capital & Premium In The Course Assessment In Absence Of Identity Of The Creditors, Genuineness & Creditworthiness Of The Entire Transactions. 2. Whether On The Facts & In The Circumstances Of The Case, Ld, Cit(A) Was Justified In The Quashing The Addition Of Rs. 1,85,00,000/-Made By The Assessing Officer Where No Personal Attendance Was Made By Any Director Of The Share Allottee Companies During The Course Of Assessment Proceedings & As Such Identity & Creditworthiness Of The Creditors & Genuineness Of Transactions Could Not Be Verified.

Section 14ASection 250Section 68

…nt year: 2008-09 M/s BPO Finance and Investments Pvt. Ltd 3. Whether on the facts and in the circumstances of the case, and in law, the Ld CIT(A) has erred in considering the ratio of the case in the case of Pr. CIT(C)-1, Kolkata vs NRA Iron & Steel Pvt. Ltd (412 ITR 161). 4. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) has erred in considering the facts, that the assessee company discharged its onus as is envisaged u/s. 68 of the Act. 5. Whether on the facts and in the circumstances of the case and in law, the Ld CIT(A) has erred in deleting the disallowance made u/s. 14A.…

ITO, Ward-6(1), Kolkata vs. M/S Outcome Buildcon Pvt. Ltd., Kolkata

ITA 652/KOL/2020[2012-13]Status: DisposedITAT Kolkata03 Jul 2023AY 2012-13

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Ble

For Appellant: Shri Manoj Kataruka, A/RFor Respondent: Shri G. Hukugha Sema, CIT, D/R
Section 143(2)Section 250Section 68

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 652/Kol/2020 Assessment Years: 2012-13 Income Tax Officer, Ward-6(1), M/s. Outcome Buildcom Pvt. Ltd. Kolkata Vs 63, Radha Bazar Street Kolkata -700001 [PAN : AABCO6168M] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Manoj Kataruka, A/R Revenue by : Shri G. Hukugha Sema, CIT, D/R सुनवाई क" तारीख/Date of Hearing : 13/04/2023 घोषणा क" तारीख /Date of Pronouncement: 03/07/2023 आदेश/O R D E R PER DR. M…

Vardhman Infrafab Pvt. Ltd., New Delhi vs. Ward-26(1), New Delhi

In the result, ground No. 7 and 8 of assessee are allowed

ITA 277/DEL/2022[2011-12]Status: DisposedITAT Delhi30 Jun 2023AY 2011-12

Bench: Shri C.M. Gargvardhman Infrafab Pvt. Ltd, Vs. Ito, K43, Green Pak (Man), Delhi Ward-26(1), New Delhi (Appellant) (Respondent) Pan: Aaccv5663K Assessee By : Shri Priyansh Jain, Ca Revenue By: Shri Om Parkash, Sr. Dr Date Of Hearing 06/04/2023 Date Of Pronouncement 30/06/2023

For Appellant: Shri Priyansh Jain, CAFor Respondent: Shri Om Parkash, Sr. DR
Section 234BSection 68

…and the AO made addition u/s 68 of the Act. From the first appellate order I further found that the ld CIT(A) uphold the addition made by the assessee by following the judgment of Hon'ble Supreme Court in the case of PCIT Vs. NRA Iron & Steel Pvt. Ltd (2019) 412 ITR 161 (SC) dated 05.03.2019 by observing that the AO has right in making addition in the hands of the assessee. 8. From the copies of the documentary evidence filed by the assessee spread over 137 pages I note that the assessee before the AO as well as before the ld CIT(A) submitted that the copy of relevant ledger accounts, invoices, copy of bank stat…

Omm Shree Realcon Pvt. Ltd, Bhubaneswar vs. Pr.CIT-1, Bhubaneswar

In the result, appeal of the assessee stands allowed

ITA 97/CTK/2023[2018-19]Status: DisposedITAT Cuttack28 Jun 2023AY 2018-19

Bench: Before S/Shri George Mathan, Judicial & And Rajesh Kumarassessment Year : 2018-19 Om Shree Realcon Pvt Ltd., Om Shree Realcon Pvt Ltd., Vs. Pr. Cit- Bhubaneswar Bhubaneswar-1 Plot No.418, Forest Park, 8, Forest Park, Bhubaneswar. Bhubaneswar. Pan/Gir No. Pan/Gir No.Aabco 3118 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri S.K.Sarangi, Ca S.K.Sarangi, Ca Revenue By : Shri M.K.Gautam, Pr. Cit (Osd) Pr. Cit (Osd) Date Of Hearing : 28 /0 06/2023 Date Of Pronouncement : 28 /0 /06/2023 O R D E R Per Bench

For Appellant: Shri S.K.Sarangi, CAFor Respondent: Shri M.K.Gautam, Pr. CIT (OSD)
Section 143(3)Section 2(22)(e)Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK (Through virtual hearing) BEFORE BEFORE S/SHRI GEORGE MATHAN, JUDICIAL JUDICIAL MEMBER AND AND RAJESH KUMAR, ACCOUNTANT MEMBER , ACCOUNTANT MEMBER Assessment Year : 2018-19 Om Shree Realcon Pvt Ltd., Om Shree Realcon Pvt Ltd., Vs. Pr. CIT- Bhubaneswar Bhubaneswar-1 Plot No.418, Forest Park, 8, Forest Park, Bhubaneswar. Bhubaneswar. PAN/GIR No. PAN/GIR No.AABCO 3118 P (Appellant (Appellant) .. ( Respondent Respondent) Assessee by : Shri S.K.Sarangi, CA S.K.Sarangi, CA Revenue by…