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.

How many judgments cite (Central)-1 v. NRA Iron & Steel (P) Ltd.?

696 judgments on BharatTax cite (Central)-1 v. NRA Iron & Steel (P) Ltd. (103 Taxmann.com 48), spanning 2011 to 2026.

Which sections of the Income Tax Act does (Central)-1 v. NRA Iron & Steel (P) Ltd. come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 147, Section 10(38), Section 148, Section 69C.

(Central)-1 v. NRA Iron & Steel (P) Ltd. (103 Taxmann.com 48)

Asus India Pvt Ltd., Mumbai vs. Asst CIT Circle- 9 (1)(2), Mumbai

In the result, appeal of the assessee is allowed for statistical purposes

ITA 7831/MUM/2019[2015-16]Status: DisposedITAT Mumbai22 Feb 2022AY 2015-16

Section 143(3)Section 144C(5)Section 194CSection 40

…character of the transaction has to be examined to find out whether it is a transaction of sale between two principals or there is a principal-agent relationship. In this context, he relied upon the decision of the Hon'ble Supreme Court in Durga Prasad More, 83 ITR 540 (SC). To emphasis upon the fact that the contract of sale does not end with the sale made to the dealers/distributors, the learned Departmental Representative drew our attention to certain clauses of the contract between the assessee and Flipkart. The learned Departmental Representative submitted, as per the terms of the contract, the packaging of…

ITO 1(3)(2), Mumbai vs. Suntech Peripherals P.Ltd, Mumbai

The appeal stands dismissed

ITA 3502/MUM/2017[2012-13]Status: DisposedITAT Mumbai18 Feb 2022AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील िं./ I.T.A. No. 3502/Mum/2017 (धििाारण वर्ा / Assessment Year: 2012-13 Ito – 1(3)(2) M/S Suntech Peripherals Pvt. Ltd. 5Th Floor, R. No. 541 बिाम 2-B, Prem Kutir, 177 Aaykar Bhavan, M. K. Road Babubhai Chinoi Road / Vs. Mubmai-400 020 Marine Drive, Mumbai-400 020 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aabcs-6873-P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Prakash Jotwani – Ld. Ar Revenue By : Shri Hoshang Boman Irani – Ld. Dr ुनवाई की तारीख/ : 24/11/2021 Date Of Hearing घोषणा की तारीख / : 18/02/2022 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2012-13 Arises Out Of The Order Of Learned Commissioner Of Income-Tax (Appeals)-3, Mumbai [Cit(A)], Dated 28/02/2017 In The Matter Of Assessment Framed By Ld. Ao U/S 143(3) On 30/03/2015. The Grounds Raised By The Revenue Read As Under: - 1. On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Was Erred In Deleting The Addition Of Share Premium Received On The Ground That It Was A Capital Receipt When In Reality There Is Accretion To Assets Without A Corresponding Increase In Claimable Liability (Shares & Premium Reserve) & Therefore Determining The Nature Of Such Receipt Of Share Premium As Income On It Remaining

For Appellant: Shri Prakash Jotwani – Ld. ARFor Respondent: Shri Hoshang Boman Irani – Ld. DR

Section 143(3)Section 68

…1 आयकर अपीलीय अधिकरण “जी” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI माननीय श्री महावीर स िंह, उपाध्यक्ष एवुं माननीय श्री मनोज कुमार अग्रवाल ,लेखा दस्य के मक्ष। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील िं./ I.T.A. No. 3502/Mum/2017 (धििाारण वर्ा / Assessment Year: 2012-13 ITO – 1(3)(2) M/s Suntech Peripherals Pvt. Ltd. 5th floor, R. No. 541 बिाम 2-B, Prem Kutir, 177 Aaykar Bhavan, M. K. Road Babubhai Chinoi Road / Vs. Mubmai-400 020 Marine Drive, Mumbai-400 020 स्थायीलेखा िं./ जीआइआर िं./ PAN/GIR No. AABCS-6873-P (अपीलाथी/Appellant…

Dy CIT Central Circle-4(1), Mumbai vs. M/S Vinodkumar Bajaj & Company HUF, Mumbai

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

ITA 1873/MUM/2020[2009-10]Status: DisposedITAT Mumbai27 Jan 2022AY 2009-10

For Appellant: Ms. Hema SharmaFor Respondent: Shri S.N. Kabra

Section 132(4)Section 143(3)Section 148Section 68

…ITA Nos. 1873 &1875/Mum/2020 A.Ys. 2009-10 1 Dy. CIT,CC-4(1) Vs. M/s Vinodkumar Bajaj & Company, M/s Ramniwas Bajaj & Company IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORESHRI AMARJIT SINGH, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Dy. Commissioner of Vs. M/s Vinodkumar Bajaj & Income Tax, Central Circle- Company HUF, 4(1), Room No. 1918, 19th 108, 1st Floor, 24-B Raja Floor, Air India Building, Bahadur Compound, Nariman Point, Hamam Street, Fort, Mumbai – 400 021 Mumbai – 400 023 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAAHV3639Q Respondent .. Appellant Dy. Commissioner of Vs.…

ITO 6 (2)(1), Mumbai vs. M/S Confiance Trading Pvt Ltd., Mumbai

ITA 199/MUM/2020[2012-13]Status: DisposedITAT Mumbai24 Jan 2022AY 2012-13

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2012-13 Ito 6(2)(1), M/S. Confiance Trading 5Th Floor, Pvt. Ltd., Room No.510, 308, Adharu Industrial Aaykar Bhavan, Vs. Estate, M.K. Road, Sun Mill Compound, Mumbai – 400 020 Lower Parel, Mumbai – 400 013 Pan: Aaccc4316L (Appellant) (Respondent) Present For: Assessee By : Shri Dharmvir, A.R. Revenue By : Shri Gaurav Kabra, D.R. Date Of Hearing : 10.11.2021 Date Of Pronouncement : 24.01.2022 O R D E R

For Appellant: Shri Dharmvir, A.RFor Respondent: Shri Gaurav Kabra, D.R

Section 143(1)Section 56(2)(viib)Section 68

…the investments made in share capital. The authorities below have not conducted any enquiry or investigation to dislodge the above documentary evidences submitted by the assessee. The reliance on the decision of Apex Court in case of NRA Iron & Steel P. Ltd. (412 ITR 161)(SC) by the DR is also not applicable in this case as we find that in the case before the Hon'ble Supreme Court the parties never responded to 133(6) notices as the AO has carried out inquiries 7 M/s. Confiance Trading Pvt. Ltd. by issuing notices u/s. 133(6), for which none of the companies have replied. None of the companies produced bank stat…

ACIT, CC- 3, New Delhi vs. Jotindra Steel & Tubes Ltd., Faridabad

In the result, the appeal filed by the Revenue is dismissed

ITA 4401/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Jan 2022AY 2013-14

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2013-14 Acit, Vs Jotindra Steel & Tubes Ltd., Central Circle-3, 14/3, Mathura Road, New Delhi. Village- Mewla Maharajpur, Faridabad. Pan: Aaacj1872C (Appellant) (Respondent) Assessee By : Shri Ved Jain, Advocate & Shri Aditya Chhajed, Advocate Revenue By : Shri Surender Pal, Cit, Dr Date Of Hearing : 17.11.2021 Date Of Pronouncement : 18.01.2022 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 27Th April, 2017 Of The Cit(A)-23, New Delhi, Relating To Assessment Year 2013-14. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Manufacturing & Trading Of Steel/Tubes & Pipes & Erection Fabrication Work & Furnace Unit. It Filed Its Return Of Income 12.09.2015 Declaring The Total Income At Rs.1,52,26,930/-. A Search & Seizure Proceedings U/S 132 Of The It Act Was Conducted In The Case Of M/S Mauria Udyog Ltd. & Its Group Concerns Including The Assessee & Residential/Factory Premises Of The Partners, Directors & Proprietors Of The Group On 7Th August, 2013. In Response To The Notice U/S 153A Of The Act, The Assessee Filed The Return Of Income On 12Th September, 2015 Declaring An Income Of Rs.1,52,26,930/- Which Is The Same Income As Per The Original Return Of Income Filed.

For Appellant: Shri Ved Jain, Advocate &For Respondent: Shri Surender Pal, CIT, DR

Section 132Section 132(4)Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : C : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year: 2013-14 ACIT, Vs Jotindra Steel & Tubes Ltd., Central Circle-3, 14/3, Mathura Road, New Delhi. Village- Mewla Maharajpur, Faridabad. PAN: AAACJ1872C (Appellant) (Respondent) Assessee by : Shri Ved Jain, Advocate & Shri Aditya Chhajed, Advocate Revenue by : Shri Surender Pal, CIT, DR Date of Hearing : 17.11.2021 Date of Pronouncement : 18.01.2022 ORDER PER R.K. PANDA, AM: This appeal filed by the Revenue is directed against the order dated 27th April…

Intellectual Securites Pvt. Ltd., Delhi vs. DCIT, CC, Noida

In the result, the appeal of the assessee is allowed

ITA 1031/DEL/2021[2010-11]Status: DisposedITAT Delhi12 Jan 2022AY 2010-11

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing)

For Appellant: Sh. Rajiv Khandelwal, CA &For Respondent: Ms. Deepshikha Sharma, CIT DR

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 250(6)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 1031/Del/2021 : Asstt. Year : 2010-11 Intellectual Securities Pvt. Ltd., Vs DCIT, Corporate Office-505, Pragati Deep Central Circle, Building, District Centre, Laxmi Nagar, Noida New Delhi-110092 (APPELLANT) (RESPONDENT) PAN No. AABCI7610J Assessee by : Sh. Rajiv Khandelwal, CA & Sh. Neelkanth Khandelwal, Adv. Revenue by : Ms. Deepshikha Sharma, CIT DR Date of Hearing: 11.11.2021 Date of Pronouncement: 12.01.2022 ORDER Per Dr. B. R. R…

Bramhani Industries Limited, Jammalamadugu, Kadapa vs. DCIT, Circle-1(3), Hyderabad

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 512/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…vs. Sudhir Kumar Singh and Ors (CA No. 3498/2020); Tuticorin Alkali Chemicals & Fertilizers Ltd vs. CIT ( 93 Taxmann 502); CIT vs. Woodward Governor India (P) Ltd (312 ITR 254); PCIT vs. I-Ven Interactive Ltd (418 ITR 662); PCIT vs. NRA Iron & Steel (P) Ltd (412 ITR 161); NRA Iron & Steel (P) Ltd vs. PCIT 273 Taxman 14; Kale Khan Mohammed Hanif vs. CIT (50 ITR 1); Roshan Hatti vs. CIT (107 ITR 938); CIT vs. P. Mohankala ( 291 ITR 278) and CIT vs. N.R. Portfolio (P) Ltd (42 Taxmann.com 339). 31. To sum up, Section 68 of the Act provides that, if any sum found credited in the year in respect of which the assessee…

DCIT, Circle-1(2), Hyderabad vs. Bramhani Industries Limited, Jammalamadugu, Ysr Dist.

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 398/HYD/2017[2010-11]Status: DisposedITAT Hyderabad06 Jan 2022AY 2010-11

Bench: Shri A. Mohan Alankamony & Sri Chandra Mohan Garga.Y. 2010-11 Bramhani Industries Limited, Vs. Dcit, Jammalamadugu. Circle-1(3), Pan: Aadcb 1666 M Hyderabad. (Appellant) (Respondent) Ay: 2010-11 Dcit, Vs. Bramhani Industries Circle-1(2), Limited, Hyderabad. Jammalamadugu. Pan: Aadcb 1666 M (Appellant) (Respondent) Assessee By Sri Gowtham Jain Revenue By Sri K.V. Aravind, Sr. Standing Counsel For Dr Date Of Hearing: 12/10/2021 Date Of Pronouncement: 06/01/2022 Order

Section 144Section 234ASection 249(3)Section 68

…vs. Sudhir Kumar Singh and Ors (CA No. 3498/2020); Tuticorin Alkali Chemicals & Fertilizers Ltd vs. CIT ( 93 Taxmann 502); CIT vs. Woodward Governor India (P) Ltd (312 ITR 254); PCIT vs. I-Ven Interactive Ltd (418 ITR 662); PCIT vs. NRA Iron & Steel (P) Ltd (412 ITR 161); NRA Iron & Steel (P) Ltd vs. PCIT 273 Taxman 14; Kale Khan Mohammed Hanif vs. CIT (50 ITR 1); Roshan Hatti vs. CIT (107 ITR 938); CIT vs. P. Mohankala ( 291 ITR 278) and CIT vs. N.R. Portfolio (P) Ltd (42 Taxmann.com 339). 31. To sum up, Section 68 of the Act provides that, if any sum found credited in the year in respect of which the assessee…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3565/MUM/2019[2014-15]Status: DisposedITAT Mumbai23 Dec 2021AY 2014-15

Section 133Section 143(3)Section 6Section 68

…ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) and Amarjit Singh (Judicial Member)] ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Deputy Commissioner of Income Tax-14(2)(2) Mumbai ……………….………Appellant Vs M/s Mishal Construction Pvt. Ltd., ……………………Respondent 402, Vikas Commercial Centre, Dr. C.G. Road, Near Basan Cinema, Chembur, Mumbai 400 0074 [PAN No. AAFCM6325A] Appearances by Himanshu Sharma for the appellant None for the respondent Date of concluding th…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3564/MUM/2019[2013-14]Status: DisposedITAT Mumbai23 Dec 2021AY 2013-14

Section 133Section 143(3)Section 6Section 68

…ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) and Amarjit Singh (Judicial Member)] ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Deputy Commissioner of Income Tax-14(2)(2) Mumbai ……………….………Appellant Vs M/s Mishal Construction Pvt. Ltd., ……………………Respondent 402, Vikas Commercial Centre, Dr. C.G. Road, Near Basan Cinema, Chembur, Mumbai 400 0074 [PAN No. AAFCM6325A] Appearances by Himanshu Sharma for the appellant None for the respondent Date of concluding th…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3563/MUM/2019[2012-13]Status: DisposedITAT Mumbai23 Dec 2021AY 2012-13

Section 133Section 143(3)Section 6Section 68

…ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) and Amarjit Singh (Judicial Member)] ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Deputy Commissioner of Income Tax-14(2)(2) Mumbai ……………….………Appellant Vs M/s Mishal Construction Pvt. Ltd., ……………………Respondent 402, Vikas Commercial Centre, Dr. C.G. Road, Near Basan Cinema, Chembur, Mumbai 400 0074 [PAN No. AAFCM6325A] Appearances by Himanshu Sharma for the appellant None for the respondent Date of concluding th…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3562/MUM/2019[2011-12]Status: DisposedITAT Mumbai23 Dec 2021AY 2011-12

Section 133Section 143(3)Section 6Section 68

…ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) and Amarjit Singh (Judicial Member)] ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Deputy Commissioner of Income Tax-14(2)(2) Mumbai ……………….………Appellant Vs M/s Mishal Construction Pvt. Ltd., ……………………Respondent 402, Vikas Commercial Centre, Dr. C.G. Road, Near Basan Cinema, Chembur, Mumbai 400 0074 [PAN No. AAFCM6325A] Appearances by Himanshu Sharma for the appellant None for the respondent Date of concluding th…

DCIT - 14(2)(2) vs. M/S Mishal Construction P. Ltd, Mumbai

In the result, the appeal is allowed

ITA 3561/MUM/2019[2010-11]Status: DisposedITAT Mumbai23 Dec 2021AY 2010-11

Section 133Section 143(3)Section 6Section 68

…ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) and Amarjit Singh (Judicial Member)] ITA Nos. 3561 to 3565/Mum/2019 Assessment years: 2010-11 to 2014-15 Deputy Commissioner of Income Tax-14(2)(2) Mumbai ……………….………Appellant Vs M/s Mishal Construction Pvt. Ltd., ……………………Respondent 402, Vikas Commercial Centre, Dr. C.G. Road, Near Basan Cinema, Chembur, Mumbai 400 0074 [PAN No. AAFCM6325A] Appearances by Himanshu Sharma for the appellant None for the respondent Date of concluding th…