(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.

Narender Kumar Gupta HUF, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-7(1), Hyderabad

In the result, assessee’s appeal is treated as allowed for statistical purposes

ITA 1084/HYD/2019[2011-12]Status: DisposedITAT Hyderabad22 Apr 2021AY 2011-12

Bench: Smt. P. Madhavi Deviassessment Year: 2011-12

For Appellant: Sri Siddharth MantriFor Respondent: Sri Subramanyam Tota, DR
Section 147Section 148Section 293BSection 69B

…ITA No 1084 of 2019 Narender Kumar Gupta HUF Hyderabad IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad SMC Bench, Hyderabad (Through Video Conferencing) Before Smt. P. Madhavi Devi, Judicial Member Assessment Year: 2011-12 Sri Narender Kumar Gupta Vs. Asstt. CIT HUF, Hyderabad Circle 7(1) PAN:AABHN1491F Hyderabad (Appellant) (Respondent) Assessee by: Sri Siddharth Mantri Revenue by: Sri Subramanyam Tota, DR Date of hearing: 08/04/2021 Date of pronouncement: 22/04/2021 ORDER This is assessee’s appeal for the A.Y 2011-12 against the order of the CIT (A)-3, Hyderabad, dated 20.05.2019, 2. Brief facts of the…

ITO - 18(1)(1), Mumbai vs. Abhay Kumar Daga HUF, Mumbai

In the result, both the appeal of Revenue and the CO of the assessee are dismissed

ITA 6983/MUM/2018[2010-11]Status: DisposedITAT Mumbai19 Apr 2021AY 2010-11

Bench: Sri Mahavir Singh, Vp & Sri Manoj Kumar Aggarwal, Am आमकय अऩीर िं./ Ita No. 6983/Mum/2018 (ननधाायण वर्ा / Assessment Year 2010-11) The Income Tax Officer Abhay Kumar Daga Huf R.No. 49B, 3R D Floor, Nand Ward 18(1)(-1 R.No. 204 Earnest House, 2 N D Flr., फनाभ/ Bhavan, 59 Babu Genu Nariman Point, Mumbai-400 021 Road, Kalbadevi Road, Vs. Mumbai-400 002 (अऩीराथी / Appellant) (प्रत्मथी/ Respondent) स्थामी रेखा िं./Pan No. Aahha4495C प्रत्माक्षेऩ ./ Co No. 30/Mum/2020 (Arising In Ita No. 6983/Mum/2018 For Ay 2010-11) Abhay Kumar Daga Huf The Income Tax Officer R.No. 49B, 3R D Floor, Nand Ward 18(1)(-1 Bhavan, 59 Babu Genu Road, फनाभ/ R.No. 204 Earnest House, 2N D Kalbadevi Road, Mumbai-400 002 Flr., Nariman Point, Vs. Mumbai, Pin 400 021 (अऩीराथी / Appellant) (प्रत्मथी/ Respondent) स्थामी रेखा िं./Pan No. Aahha4495C अऩीराथी की ओय े/ Appellant By : Shri Brajendra Kumar, Dr प्रत्मथी की ओय े/ Respondent By : Shri Piyush Chhajed, Ar ुनवाई की तायीख / Date Of Hearing: 23.02.2021 घोर्णा की तायीख / Date Of Pronouncement: 19.04.2021

For Appellant: Shri Brajendra Kumar, DRFor Respondent: Shri Piyush Chhajed, AR
Section 143(3)Section 147Section 68

…आयकर अपीऱीय अधिकरण “A” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI श्री भहावीय स िंह, उऩाध्मक्ष एविं श्री भनोज कुभाय अग्रवार, रेखा दस्म के भक्ष । BEFORE SRI MAHAVIR SINGH, VP AND SRI MANOJ KUMAR AGGARWAL, AM आमकय अऩीर िं./ ITA No. 6983/Mum/2018 (ननधाायण वर्ा / Assessment Year 2010-11) The Income Tax Officer Abhay Kumar Daga HUF R.No. 49B, 3r d Floor, Nand Ward 18(1)(-1 R.NO. 204 Earnest House, 2 n d Flr., फनाभ/ Bhavan, 59 Babu Genu Nariman Point, Mumbai-400 021 Road, Kalbadevi Road, Vs. Mumbai-400 002 (अऩीराथी / Appellant) (प्रत्मथी/ Respondent) स्थामी रेखा िं./PAN No. AAHHA4495C प…

Nextgen Vyapaar, Kolkata vs. Pr.CIT-2, Kolkata

In the result, appeal of the assessee is allowed

ITA 1176/KOL/2019[2012-13]Status: DisposedITAT Kolkata16 Apr 2021AY 2012-13
Section 143(3)Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Hon’ble Accountant Member & Sri Aby T. Varkey, Hon’ble Judicial Member) Assessment Year: 2012-13 Nextgen Vyapaar (P) Ltd.............................................................................………………….............Appellant C/o Subash Agarwal & Associates, Advocates Siddha Gibson 1, Gibson Lane Suite -213 2nd Floor Kolkata – 700 069 [PAN : AADCN 5137 H] Vs. Pr. Commissioner of Income Tax-4, Kolkata....................................................………..…......Respondent Appearances by: Shri Subash Agarwal, Advoca…

J.C.I.T.(OSD), Circle-12(1), Kolkata vs. M/S Werit Global Ltd., Kolkata

ITA 55/KOL/2020[2014-15]Status: DisposedITAT Kolkata13 Apr 2021AY 2014-15

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 आयकर अपील"य अधीकरण, "यायपीठ –“A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri J. Sudhakar Reddy, AM and Shri A. T. Varkey, JM] I.T.A. No.55/Kol/2020 Assessment Year:2014-15 JCIT(OSD),Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.20/Kol/2019 Assessment Year:2015-16 DCIT, Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.21…

Wearit Global Ltd., Kolkata vs. DCIT, Circle - 12(1), Kolkata

ITA 2191/KOL/2018[2015-16]Status: DisposedITAT Kolkata13 Apr 2021AY 2015-16

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 आयकर अपील"य अधीकरण, "यायपीठ –“A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri J. Sudhakar Reddy, AM and Shri A. T. Varkey, JM] I.T.A. No.55/Kol/2020 Assessment Year:2014-15 JCIT(OSD),Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.20/Kol/2019 Assessment Year:2015-16 DCIT, Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.21…

JCIT(OSD), Cir.-12(1), Kolkata vs. M/S Wearit Global Ltd., Kolkata

ITA 115/KOL/2020[2016-17]Status: DisposedITAT Kolkata13 Apr 2021AY 2016-17

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 आयकर अपील"य अधीकरण, "यायपीठ –“A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri J. Sudhakar Reddy, AM and Shri A. T. Varkey, JM] I.T.A. No.55/Kol/2020 Assessment Year:2014-15 JCIT(OSD),Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.20/Kol/2019 Assessment Year:2015-16 DCIT, Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.21…

DCIT, Circle - 12(1), Kolkata vs. M/S. Wearit Global Ltd., Kolkata

ITA 20/KOL/2019[2015-16]Status: DisposedITAT Kolkata13 Apr 2021AY 2015-16

Bench: Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 133(6)Section 68

…I.T.A No. 55/Kol/2020,I.T.A. No.20/Kol/2019, I.T.A. No.2191/Kol/2018 & I.T.A. No.115/Kol/2020 M/s Wearit Global Ltd. Assessment years: 2014-15,2015-16 & 2016-17 आयकर अपील"य अधीकरण, "यायपीठ –“A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri J. Sudhakar Reddy, AM and Shri A. T. Varkey, JM] I.T.A. No.55/Kol/2020 Assessment Year:2014-15 JCIT(OSD),Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.20/Kol/2019 Assessment Year:2015-16 DCIT, Circle-12(1), Kolkata M/s Wearit Global Ltd. v. (PAN:AABCR4997F) Appellant Respondent I.T.A. No.21…

ITO, New Delhi vs. M/S. Arizona Venutres Pvt. Ltd., New Delhi

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

ITA 1428/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Satpal Gulati, CIT-DRFor Respondent: Shri Rakesh Joshi, CA
Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.As. No.1428/DEL/2016 Assessment Year 2012-13 ITO, Ward-3(2), v. M/s. Arizona Ventures Pvt. New Delhi. Ltd., Flat No.211, 2nd Floor, Hemkunt Chamber, 89, Nehru Place, New Delhi. TAN/PAN: AADCD6391B (Appellant) (Respondent) Assessment Year 2012-13 ITO, Ward-3(2), v. M/s. Arizona Global Services New Delhi. Pvt. Ltd., Flat No.211, 2nd Floor, Hemkunt Chamber, 89, Nehru Place, New Delhi. TAN/PAN: AADCD7117M (Appellant) (Respondent) Appellant by: Shri Satpal Gulati…

ACIT, New Delhi vs. M/S. Supreme Placement Services (P) Ltd., New Delhi

ITA 5259/DEL/2013[2008-09]Status: DisposedITAT Delhi17 Mar 2021AY 2008-09

Bench: Shri Bhavnesh Saini & Shri B.R.R Kumar

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri N.K. Bansal, Sr. D.R
Section 132Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G” : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI B.R.R KUMAR, ACCOUNTANT MEMBER ITA.No.5259/Del./2013 Assessment Year 2008-2009 M/s. Supreme Placement The ACIT, Central Services (P) Ltd., E-60, Circle-13, Room No.332, [vs. Near Anand Pradhan, Om ARA Centre, Jhandewalan Vihar, Phase-V, Uttam Extn., New Delhi. Nagar, New Delhi. (Appellant) (Respondent) For Revenue : Shri N.K. Bansal, Sr. D.R. For Assessee : Shri S.K. Tulsiyan, Advocate Date of Hearing : 08.03.2021 Date of Pronouncement : 17.03.2021 ORDER PER BHAVNESH SAINI, J.M. This appeal by Rev…

Nish Developers Pvt. Ltd., Mumbai vs. DCIT- CC- 6(3), Mumbai

In the result, all the appeals of the assessee except ITA

ITA 3131/MUM/2018[2010-11]Status: DisposedITAT Mumbai12 Mar 2021AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ram Lal Negi

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri P.C. Chhotaray
Section 132(4)

…has laid down the principle that apparent is always real and the evidence has to be judged applying the test of human probabilities. The ld DR also placed reliance on the decision of Principal Commissioner of Income-tax v. NRA Iron and Steel Pvt. Ltd. [2019] 412 ITR 161 (SC) in defence of his arguments and prayed that the order of the CIT(A) may be reversed and the additions made by the Assessing Officer u/s 68 for all the three assessment years, 2012-13, 2013-14 and 2014-15 may be restored. M/s. Nish Developers 51. The ld AR on the other relied heavily upon the submissions made before AO, which were reproduced…

Nish Developers Pvt. Ltd., Mumbai vs. DCIT - CC -6(3), Mumbai

In the result, all the appeals of the assessee except ITA

ITA 3129/MUM/2018[2011-12]Status: DisposedITAT Mumbai12 Mar 2021AY 2011-12

Bench: Shri Rajesh Kumar & Shri Ram Lal Negi

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri P.C. Chhotaray
Section 132(4)

…has laid down the principle that apparent is always real and the evidence has to be judged applying the test of human probabilities. The ld DR also placed reliance on the decision of Principal Commissioner of Income-tax v. NRA Iron and Steel Pvt. Ltd. [2019] 412 ITR 161 (SC) in defence of his arguments and prayed that the order of the CIT(A) may be reversed and the additions made by the Assessing Officer u/s 68 for all the three assessment years, 2012-13, 2013-14 and 2014-15 may be restored. M/s. Nish Developers 51. The ld AR on the other relied heavily upon the submissions made before AO, which were reproduced…

DCIT, New Delhi vs. M/S. Technico Industries Pvt. Ltd., New Delhi

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

ITA 5204/DEL/2015[2011-12]Status: DisposedITAT Delhi09 Mar 2021AY 2011-12

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2011-12 Dcit, Vs Technico Industries Pvt. Ltd., Circle-25(1), 103, Pratap Bhawan, Cr Building, Ip Estate, Bahadur Shah Zafar Marg, New Delhi. Near Indian Express Building, New Delhi. Pan: Aaact4445P (Appellant) (Respondent) Assessee By : Shri Aditya Kumar, Ca & Shri Ashwani Kumar, Ca Revenue By : Mrs Aashna Paul, Cit-Dr Date Of Hearing : 17.12.2020 Date Of Pronouncement : 09.03.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against Order Dated 31St March, 2015 Of The Cit(A)-9, New Delhi Relating To Assessment Year 2011-12. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Manufacturing Of Sheet Metal Components & Tools & Dies. It Filed Its Return Of Income On 29Th September, 2011 Declaring ‘Nil’ Income. The Said Return Was Revised On 14Th September, 2012 Declaring A Loss Of Rs.3,61,68,075/-. During The Course Of Assessment Proceedings, The Ao, On Perusal Of The Balance Sheet Filed By The Assessee, Noted That The Assessee Company Has Issued 14,72,000 Equity Shares At A Premium Of Rs.115. From The Various Details Furnished By The Assessee, The Ao Noted That The Assessee Has Issued Shares To The Following Persons/Parties:-

For Appellant: Shri Aditya Kumar, CA &For Respondent: Mrs Aashna Paul, CIT-DR
Section 133(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : D : NEW DELHI (Through Virtual Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year: 2011-12 DCIT, Vs Technico Industries Pvt. Ltd., Circle-25(1), 103, Pratap Bhawan, CR Building, IP Estate, Bahadur Shah Zafar Marg, New Delhi. Near Indian Express Building, New Delhi. PAN: AAACT4445P (Appellant) (Respondent) Assessee by : Shri Aditya Kumar, CA & Shri Ashwani Kumar, CA Revenue by : Mrs Aashna Paul, CIT-DR Date of Hearing : 17.12.2020 Date of Pronouncement : 09.03.2020 ORDER PER R.K. PANDA, AM: This appeal fil…

M/S Metal Craft Industries Pvt. Ltd., Kolkata vs. I.T.O., Ward-12(3), Kolkata

In the result, appeal of the assessee is allowed

ITA 800/KOL/2019[2012-13]Status: DisposedITAT Kolkata10 Feb 2021AY 2012-13
Section 143(3)Section 14ASection 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA VIRTUAL COURT HEARING (Before Sri J. Sudhakar Reddy, Hon’ble Accountant Member & Sri Aby T. Varkey, Hon’ble Judicial Member) Assessment Year: 2012-13 M/s. Metal Craft Industries Pvt. Ltd..................……….............................………………….............Appellant 1B, Elgin Road Kolkata – 700 020 [PAN : AAGCM 6979 D] Vs. Income Tax Officer, Ward-12(3), Kolkata……………………………………..........………..…......Respondent Appearances by: Shri S.M. Surana, Advocate, appeared on behalf of the assessee. Shri Tajider Pal Singh, CIT, D/R, appearing on behalf of the R…

M/S. Aarya Organic Foods & Ayurvedic Industries Pvt. Ltd., New Delhi vs. ITO, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 3004/DEL/2017[2012-13]Status: DisposedITAT Delhi05 Feb 2021AY 2012-13

Bench: Sh. Bhavnesh Saini & Sh. Anil Chaturvedi(Through Video Conferencing) Ita No.3004/Del/2017 For A.Y. 2012-13 M/S. Aarya Organic Vs. Ito Foods & Ayurvedic Ward – 1(1), Industries Pvt. Ltd., New Delhi 504, Pratap Chamber-2, Saraswati Marg, Karol Bagh, New Delhi - 110005 Pan- Aahca 9363 J (Appellant) (Respondent) Assessee By Shri Ved Jain, Adv. Revenue By Smt. Alka Gautam, Sr. Dr Date Of Hearing: 27/01/2021 Date Of Pronouncement: 05/02/2021 Order Per Anil Chaturvedi, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 09.03.2017 Of The Commissioner Of Income Tax (A)-I, New Delhi Relating To Assessment Year 2012-13. 2. The Relevant Facts As Culled From The Material On Records Are As Under:

Section 133(6)Section 143(3)Section 68

…ectors. He therefore submitted that the additions upheld by CIT(A) be deleted. 9. Learned DR on the other hand supported the order of CIT(A) and further relied on the decision of Hon’ble Apex Court in the case of NRA Iron & Steel Pvt. Ltd. reported in (2019) 412 ITR 161 (SC). She relying on the aforesaid decision of Apex Court submitted that in a case where Share Capital/Premium is credited in the books of account of the Assessee company, the onus of proof is on the assessee to establish by cogent and reliable evidence the identity of the investor companies, the credit-worthiness of the investors, and genuinenes…

Enkay Traffin (P) Ltd., Kolkata vs. Pr.CIT-4, Kolkata

In the result, appeal of the assessee is allowed

ITA 1177/KOL/2019[2012-13]Status: DisposedITAT Kolkata12 Jan 2021AY 2012-13
Section 143(1)Section 143(3)Section 14ASection 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA VIRTUAL COURT HEARING (Before Sri J. Sudhakar Reddy, Hon’ble Accountant Member & Sri S.S. Godara, Hon’ble Judicial Member) Assessment Year: 2012-13 Enkay Traffin (P) Ltd..…………………………………………….............................………………......…....Appellant C/o Subash Agarwal & Associates Siddha Gibson 1, Gibson Lane Suite 213 2nd Floor Kolkata – 700 069 [PAN : AAACE 5682 P] Vs. Pr. Commissioner of Income Tax -4, Kolkata…......................………..................………..…....Respondent Appearances by: Shri Subash Agarwal, Advocate, appeared on behalf of the asse…

M/S. J.R. Properties, Mumbai vs. ITO-21(1)(5), Mumbai

The appeal stand partly allowed in terms of our order

ITA 6003/MUM/2019[2010-11]Status: DisposedITAT Mumbai09 Dec 2020AY 2010-11

Bench: Hon’Ble Shri Amarjit Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode)

For Appellant: Shri Neelkanth Khandelwal-Ld.ARFor Respondent: Ms. Usha Gaikwad–Ld. Sr.DR
Section 68

…4 M/s. J.R. Properties Assessment Year: 2010-11 Ltd. [ITA No. 1231 of 2017, dated 29/01/2020) which has been rendered after considering the principles laid down by Hon’ble Supreme Court in its recent decision titled as Pr.CIT Vs. NRA Iron & Steel Pvt. Ltd. [412 ITR 161]. 1.3 Proceeding further, it is trite law that no additions could be made on the basis of mere doubts, conjectures or surmises. Once the primary onus to substantiate the transactions is discharged by the assessee, it would be incumbent upon revenue to dislodge the assessee’s claim and substantiate the allegations with corroborative evidences. Unt…

M/S.Abhijavala Developers Private Limited, Mumbai vs. Income Tax Officer 9(1)(1), Mumbai

In the result, the appeal stands partly allowed in terms of our above order

ITA 952/MUM/2019[2012-13]Status: DisposedITAT Mumbai03 Dec 2020AY 2012-13

Bench: Hon’Ble Shri Amarjit Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode)

For Appellant: Shri Gaurav Bansal- Ld. ARFor Respondent: Shri Brajendra Kumar - Ld.Sr.DR
Section 68

…2017, dated 29/01/2020) which has been rendered after considering the principles laid down by Hon’ble Supreme 4 M/s. Abhijavala Developers Private Limited Assessment Year: 2012-13 Court in its recent decision titled as Pr.CIT Vs. NRA Iron & Steel Pvt. Ltd. [412 ITR 161]. 1.3 Proceeding further, it is trite law that no additions could be made on the basis of mere doubts, conjectures or surmises. Once the primary onus to substantiate the transactions is discharged by the assessee, it would be incumbent upon revenue to dislodge the assessee’s claim and substantiate the allegations with corroborative evidences. Unt…

Neel Builders Pvt Ltd, New Delhi vs. ITO Ward - 18(1), New Delhi

In the result, the appeal of assessee is allowed

ITA 6336/DEL/2019[2008-09]Status: DisposedITAT Delhi02 Dec 2020AY 2008-09

Bench: Shri Bhavnesh Saini

For Appellant: For RevenueFor Respondent: Shri Ved Prakash Mishra, Sr. Dr
Section 132Section 143(1)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC”: DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER ITA.No.6336/Del./2019 Assessment Year 2008-09 Neel Builders Pvt. Ltd. Income Tax Officer, C/o Kapil Goel, Adv. vs. Ward 18(1), F-26/124, Sector-7, New Delhi. Rohini, New Delhi. PAN No. AABCN9572C (Appellant) (Respondent) Shri Kapil Goel, Advocate For Assessee : For Revenue : Shri Ved Prakash Mishra, Sr. Dr Date of Hearing : 23.11.2020 Date of Pronouncement : 02.12.2020 ORDER This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-37, New Delhi dated 28.06.2019 for AY 2008-09…

ACIT, Central Circle-15, New Delhi vs. Sunstar Infra Developers Pvt. Ltd., New Delhi

In the result, all the Cross Objections filed by the assessees are allowed and all the appeals filed by the Revenue are dismissed

ITA 816/DEL/2018[2012-13]Status: DisposedITAT Delhi27 Nov 2020AY 2012-13

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

Section 132Section 143(3)Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : E : NEW DELHI (Through Virtual Court Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA Nos.115 to 118/Del/2018 Assessment Years: 2009-10 to 2012-13 ACIT, Vs Moon Beverages Ltd., Central Circle-15, 25, Bazar Lane, New Delhi. Bengali Market, New Delhi. PAN: AAACM1635J CO Nos.73 to 76/Del/2018 (ITA Nos.115 to 118/Del/2018) Assessment Years: 2009-10 to 2012-13 Moon Beverages Ltd., Vs. ACIT, 25, Bazar Lane, Central Circle-15, Bengali Market, New Delhi New Delhi. PAN: AAACM1635J ITA Nos.122 & 123/Del/2018 Assessment Years:…

ACIT, Central Circle- 15, New Delhi vs. Competent Infoways Pvt. Ltd., New Delhi

In the result, all the Cross Objections filed by the assessees are allowed and all the appeals filed by the Revenue are dismissed

ITA 128/DEL/2018[2009-10]Status: DisposedITAT Delhi27 Nov 2020AY 2009-10

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

Section 132Section 143(3)Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : E : NEW DELHI (Through Virtual Court Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER ITA Nos.115 to 118/Del/2018 Assessment Years: 2009-10 to 2012-13 ACIT, Vs Moon Beverages Ltd., Central Circle-15, 25, Bazar Lane, New Delhi. Bengali Market, New Delhi. PAN: AAACM1635J CO Nos.73 to 76/Del/2018 (ITA Nos.115 to 118/Del/2018) Assessment Years: 2009-10 to 2012-13 Moon Beverages Ltd., Vs. ACIT, 25, Bazar Lane, Central Circle-15, Bengali Market, New Delhi New Delhi. PAN: AAACM1635J ITA Nos.122 & 123/Del/2018 Assessment Years:…