(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 371,886 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.

Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata vs. Shree Ramchandra Ingot India Private Limited, Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1555/KOL/2025[2020-21]Status: DisposedITAT Kolkata19 Nov 2025AY 2020-21

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata vs. Shree Ramchandra Ingot India Private Limited, Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1554/KOL/2025[2019-20]Status: DisposedITAT Kolkata19 Nov 2025AY 2019-20

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata vs. Shree Ramchandra Ingot India Private Limited, Kolkata

In the result, all six appeals of the assessee are allowed and all six

ITA 1553/KOL/2025[2018-19]Status: DisposedITAT Kolkata19 Nov 2025AY 2018-19

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubey

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company's Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon'ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO discussed the facts and additions made in respect of other assessment years i.e. 20…

Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata vs. Shree Ramchandra Ingot India Private Limited, Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1552/KOL/2025[2017-18]Status: DisposedITAT Kolkata19 Nov 2025AY 2017-18

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Deputy Commissioner of Income Tax, Central Circle-4(3), Kolkata vs. Shree Ramchandra Ingot India Private Limited, Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1551/KOL/2025[2016-17]Status: DisposedITAT Kolkata19 Nov 2025AY 2016-17

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC-4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1368/KOL/2025[2016-2017]Status: DisposedITAT Kolkata19 Nov 2025AY 2016-2017

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC - 4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1367/KOL/2025[2021-2022]Status: DisposedITAT Kolkata19 Nov 2025AY 2021-2022

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC-4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six

ITA 1366/KOL/2025[2020-2021]Status: DisposedITAT Kolkata19 Nov 2025AY 2020-2021

Bench: S/Shri & Rajesh Kumar & Pradip Kumar Choubey

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company's Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon'ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO discussed the facts and additions made in respect of other assessment years i.e. 20…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC-4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1365/KOL/2025[2019-2020]Status: DisposedITAT Kolkata19 Nov 2025AY 2019-2020

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC - 4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1364/KOL/2025[2018-2019]Status: DisposedITAT Kolkata19 Nov 2025AY 2018-2019

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Shree Ramchandra Ingot India Pvt. Ltd., Kolkata vs. D.C.I.T., CC-4(3), Kolkata

In the result, all six appeals of the assessee are allowed and all six appeals of the revenue are dismissed

ITA 1363/KOL/2025[2017-2018]Status: DisposedITAT Kolkata19 Nov 2025AY 2017-2018

Bench: S/Shriand Rajesh Kumar & Pradip Kumar Choubeyita No.1363/Kol/2025: Assessment Year: 2017-18

For Appellant: Shri Manish Rastogi, AdvFor Respondent: Shri Sanat Kumar Raha, CIT DR
Section 115JSection 132Section 139(1)Section 143(3)Section 147Section 148

…he company’s Director or any representatives of the entities appeared before the AO to explain the transactions. Thereafter, the Assessing Officer relying on the judgment of Hon’ble Supreme Court in the case of PCIT vs NRA Iron and steel Pvt Ltd., reported in 412 ITR 161 (SC) dated 5th March, 2019 treated the sale of investments by the assessee as unexplained cash credit u/s.68 of the Act and, accordingly, made an addition of Rs.7,33,50,000/- to the income of the in the assessment year 2016-17. In the same assessment order, the AO P a g e 5 | 29 Shree Ramchandra Ingot India Pvt Ltd., discussed the facts and ad…

Income Tax Officer, Kolkata vs. Sumeru Retailers Private Limited, Kolkata

In the result, the appeal filed by the revenue is dismissed and cross-objection of the assessee is also dismissed as not pressed

ITA 1291/KOL/2024[2009-10]Status: DisposedITAT Kolkata19 Nov 2025AY 2009-10

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2009-10 Ito, Kolkata………………………...….……………….……….……….……Appellant Vs. Sumeru Retailers Pvt. Ltd………………………………….....……...…..…..Respondent P-27, Princer Street, Dharmotolla, Kolkata-72. [Pan: Aamcs2504C] C.O. 15/Kol/2024 (In Ita No.1291/Kol/2024) Assessment Year: 2009-10 Sumeru Retailers Pvt. Ltd.….……………. ….……….…….……….……Cross-Objector P-27, Princer Street, Dharmotolla, Kolkata-72. [Pan: Aamcs2504C] Vs. Ito, Kolkata…………….....…………………………..…...…..…………….Respondent Appearances By: Shri Miraj D Shah, Ar, Appeared On Behalf Of The Assessee. Shri Anup Biswas, Addl. Cit- Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : October 27, 2025 Date Of Pronouncing The Order : November 19, 2025 Order Per Pradip Kumar Choubey:

Section 142(1)Section 143(3)Section 147Section 250Section 263Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member Assessment Year: 2009-10 ITO, Kolkata………………………...….……………….……….……….……Appellant vs. Sumeru Retailers Pvt. Ltd………………………………….....……...…..…..Respondent P-27, Princer Street, Dharmotolla, Kolkata-72. [PAN: AAMCS2504C] C.O. 15/Kol/2024 (in ITA No.1291/Kol/2024) Assessment Year: 2009-10 Sumeru Retailers Pvt. Ltd.….……………. ….……….…….……….……Cross-Objector P-27, Princer Street, Dharmotolla, Kolkata-72. [PAN: AAMCS2504C] vs. ITO, Kolkata…………

Deputy Commissioner of Income Tax, Central Circle 3(2), Kolkata vs. Sincere Commodities and Derivatives Market Pvt. Ltd., Kolkata

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

ITA 1256/KOL/2025[2014-15]Status: DisposedITAT Kolkata18 Nov 2025AY 2014-15

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey

Section 133(6)Section 143(1)Section 147Section 148Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member ITA Nos.1255 & 1256/Kol/2025 Assessment Year: 2013-14 & 2014-15 DCIT, Circle-3(2), Kolkata ……………...….……………….……….……….……Appellant vs. Sincere Commodities And Derivatives Markets Pvt. Ltd…….....……...…..…..Respondent 12, BBD Bagh (East), Kol-1.. [PAN: AAICS3108G] Appearances by: Shri Bonnie Debbarma, Addl. CIT-Sr. DR, appeared on behalf of the appellant. Shri Devesh Poddar, Advocate, appeared on behalf of the Respondent. Date of con…

Deputy Commissioner of Income Taxcentral Circle 3(2), Kolkata, Kolakta vs. Sincere Commodities and Derivatives Market Pvt. Ltd., Kolkata

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

ITA 1255/KOL/2025[2013-14]Status: DisposedITAT Kolkata18 Nov 2025AY 2013-14

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubey

Section 133(6)Section 143(1)Section 147Section 148Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH KOLKATA Before Shri Rajesh Kumar, Accountant Member and Shri Pradip Kumar Choubey, Judicial Member ITA Nos.1255 & 1256/Kol/2025 Assessment Year: 2013-14 & 2014-15 DCIT, Circle-3(2), Kolkata ……………...….……………….……….……….……Appellant vs. Sincere Commodities And Derivatives Markets Pvt. Ltd…….....……...…..…..Respondent 12, BBD Bagh (East), Kol-1.. [PAN: AAICS3108G] Appearances by: Shri Bonnie Debbarma, Addl. CIT-Sr. DR, appeared on behalf of the appellant. Shri Devesh Poddar, Advocate, appeared on behalf of the Respondent. Date of con…

Narendra Shantilal Bapna, Navi Mumbai vs. Income Tax Officer, WD-28(2)(3), Mumbai

In the result, appeal filed by the assessee stands allowed

ITA 4198/MUM/2025[2014-15]Status: DisposedITAT Mumbai18 Nov 2025AY 2014-15

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarnarendra Shantilal Bapna V/S. Income Tax Officer, Ward – Flat No. A2501, Plot No. R3 बनाम 28(2)(3) B Emerald Bay, Sector 14, 4Th Floor, Tower No. 6, Vashi Nerul, Navi Mumbai – Station Complex, Vashi, Navi 400 706, Maharashtra Mumbai– 400703, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aclpb8458J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Prakash Jhunjhunwala, ARFor Respondent: Shri Leyaqat Ali Aafaqui, (Sr.DR)
Section 131Section 143(3)Section 68

…IN THE INCOME-TAX APPELLATE TRIBUNAL”B” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Narendra Shantilal Bapna v/s. Income Tax Officer, Ward – Flat No. A2501, Plot No. R3 बनाम 28(2)(3) B Emerald Bay, Sector 14, 4th Floor, Tower No. 6, Vashi Nerul, Navi Mumbai – Station Complex, Vashi, Navi 400 706, Maharashtra Mumbai– 400703, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: ACLPB8458J Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri Prakash Jhunjhunwala, AR Respondent by : Shri Leyaqat Ali Aafaqui, (Sr.DR) Date of Hearing 30.09.20…

DCIT, Central Circle-1, Guwahati vs. Satish Jalan, Shillong

Appeal of the Revenue is allowed for statistical purposes

ITA 62/GTY/2025[2017-18]Status: DisposedITAT Guwahati17 Nov 2025AY 2017-18

Bench: Hon'Ble Itat. 3. There Are Currently More Than 300 Time Barred Assessment & 200 Penalty Cases Are Pending In This Office. Due To Shortage Of Manpower It Was Delayed In The Filing Of Appeal Before Hon'Ble Itat.

Section 131Section 250Section 68

…Hence, his financial capacity remained unverified. Section 68 mandates the assessee to discharge the primary onus, which was not done In this regard, reliance is placed on -CIT v. P. Mohanakala (2007) 291 ITR 278 (SC), NRA Iron & Steel (P) Ltd. v. CIT (2019) 412 ITR 161 (SC) Further, the lender (Mr AA) ignored notices u/s 133(6) and did not file ITRs for the relevant years, casting serious doubt on the transaction's authenticity. The assessee also could not provide Bank statements of the lender. Source of funds, Proof of repayment terms during assessment. Hence, additions u/s.68 are justified when the lender's c…

Saloni Girrajkishor Agrawal, Mumbai vs. Income Tax Officer, Ward - 25(1)(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 3234/MUM/2024[2013-14]Status: DisposedITAT Mumbai04 Nov 2025AY 2013-14

Bench: Justice (Retd.) C. V. Bhadang & Shri Prabhash Shankarsaloni Girrajkishor Agrawal V/S. Income Tax Officer, Ward 1601/1602, Green Acre, बनाम –25(1)(1),Kautilya Bhavan, Lokhandwala Complex, Andheri Bandra Kurla Complex, (West), Mumbai – 400 053, Bandra (East), Mumbai – Maharashtra 400051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Anupa1692D Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Prakash Jhunjhunwala, ARFor Respondent: Shri Swapnil Choudhary, (Sr. DR)
Section 10(38)Section 143(3)Section 148Section 68

…IN THE INCOME-TAX APPELLATE TRIBUNAL“G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C. V. BHADANG, PRESIDENT & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Saloni Girrajkishor Agrawal v/s. Income Tax Officer, Ward 1601/1602, Green Acre, बनाम –25(1)(1),Kautilya Bhavan, Lokhandwala Complex, Andheri Bandra Kurla Complex, (West), Mumbai – 400 053, Bandra (East), Mumbai – Maharashtra 400051, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: ANUPA1692D Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri Prakash Jhunjhunwala, AR Respondent by : Shri Swapnil Choudhary, (Sr. DR) Date of Hearing 16.10.2025 Date of Pr…

Shri V. Natarajan (Individual), Rasipuram vs. ACIT, Central Circle, Salem

In the result, both the appeals of assessee in ITA No

ITA 1801/CHNY/2024[2015-16]Status: DisposedITAT Chennai31 Oct 2025AY 2015-16

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

For Appellant: Mr.T.S. LakshmiFor Respondent: Mr.Shiva Srinivas, CIT
Section 115BSection 143(3)Section 153ASection 250Section 250(6)Section 37Section 68

…of Marriage gifts and loan from friends and relatives complete details were filed in the course of assessment proceedings. In that event it is the duty of the AO to verify the same as held by the Apex Court in the case of PCIT VS NRA Iron and Steel Pvt Ltd., (412 ITR 161). 6. There is nothing in law which prohibits a daughter to transfer the gifts received at the time of her marriage to her father which enables him to reduce the financial burden in the marriage event. Even otherwise a gift from daughter to father is exempted under the provisions of the Act. 7. Decision: 7.1 I have gone through assessment order u…

Varadappan Natarajan, Rasipuram vs. ACIT, Central Circle, Salem

In the result, both the appeals of assessee in ITA No

ITA 1535/CHNY/2024[2016-17]Status: DisposedITAT Chennai31 Oct 2025AY 2016-17

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकर अपील सं./Ita Nos.1535 & 1801/Chny/2024 ननिाारण वर्ा/Assessment Years: 2016-17 & 2015-16 V. Varadappan Natarajan/ The Acit, V. Natarajan (Individual), Central Circle, No.64-C, Rotary Nagar, Salem. Rasipuram Tamil Nadu-637 408. [Pan: Acgpn1477Q] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By : Mr.T.S. Lakshmi Venkataraman, Fca (Virtual) प्रत्यर्थी की ओर से /Respondent By : Mr.Shiva Srinivas, Cit सुनवाईकीतारीख/Date Of Hearing : 09.10.2025 घोर्णाकीतारीख /Date Of Pronouncement : 31.10.2025

For Appellant: Mr.T.S. LakshmiFor Respondent: Mr.Shiva Srinivas, CIT
Section 115BSection 143(3)Section 153ASection 250Section 250(6)Section 37Section 68

…of Marriage gifts and loan from friends and relatives complete details were filed in the course of assessment proceedings. In that event it is the duty of the AO to verify the same as held by the Apex Court in the case of PCIT VS NRA Iron and Steel Pvt Ltd., (412 ITR 161). 6. There is nothing in law which prohibits a daughter to transfer the gifts received at the time of her marriage to her father which enables him to reduce the financial burden in the marriage event. Even otherwise a gift from daughter to father is exempted under the provisions of the Act. 7. Decision: 7.1 I have gone through assessment order u…

Suresh Maheshwari, Mumbai vs. The DCIT, Circle 19(3), Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 3370/MUM/2025[2015-16]Status: DisposedITAT Mumbai29 Oct 2025AY 2015-16

Bench: Shri Saktijit Dey & Ms. Padmavathy Ssuresh Maheshwari, The Dcit, 3Rd Floor, 16, New Silk Bazar, Circle 19(3) Vs. Gandhi Mansion, Piramal Chambers, Lalbaug, Mumbai-400002 Parel, Mumbai 400012 (Appellant) : (Respondent) Pan No. Aafpm 4397R

For Appellant: NoneFor Respondent: Shri Swapnil Choudhary, Sr. DR
Section 10(38)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT AND MS. PADMAVATHY S, ACCOUNTANT MEMBER Suresh Maheshwari, The DCIT, 3rd Floor, 16, New Silk Bazar, Circle 19(3) Vs. Gandhi Mansion, Piramal Chambers, Lalbaug, Mumbai-400002 Parel, Mumbai 400012 (Appellant) : (Respondent) PAN NO. AAFPM 4397R Appellant by : None Respondent by : Shri Swapnil Choudhary, Sr. DR (Appellant) (Respondent) Date of Hearing : 27.10.2025 Date of Pronouncement : 29.10.2025 O R D E R Per Saktijit Dey, Vice President: This is an appeal by the assessee against order dated 25.03.2025 passed by Nat…