Cinestaan Entertainment (P) Ltd. v. ITO

106 Taxmann.com 300High Court2019#4118 most cited

What is Cinestaan Entertainment (P) Ltd. v. ITO authority for?

An Assessing Officer must accept the fair market value of shares determined by the assessee using a prescribed method like DCF or NAV, and cannot substitute their own valuation, as Section 56(2)(viib) is a deeming provision not open to broad interpretation.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2026.

Also referred to as

Cinestaan Entertainment · ITO · 2019 · 106 Taxmann.com 300 · Section 56(2)(viib) · valuation of shares · FMV · DCF method · NAV method · Assessing Officer's power · prescribed method

Sections most often in play

Section 56(2)(viib)Section 143(3)Section 11UASection 142(1)Section 263Section 32(1)(ii)Section 143(2)Section 68

Issues it is cited on

nav methoddcf methodsection 56(2)(viib)valuation of sharescommercial rightsclosely held companyslump salesection 56(2)intangible assetssection 32(1)(ii)strategic investmentfair market value

Judgments citing Cinestaan Entertainment (P) Ltd. v. ITO

Dy CIT. Circle-1, Thane vs. M/S Travecom Global P. Ltd., Bhayander

In the result, appeal filed by the Revenue is dismissed

ITA 59/MUM/2021[2016-17]Status: DisposedITAT Mumbai28 Jun 2022AY 2016-17

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle 1 V. M/S. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6Th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 Pan: Aaect8729Q (Appellant) (Respondent) Assessee By : Ms. Aarti Vissanji Department By : Shri B.K. Bagchi

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri B.K. Bagchi
Section 143(2)Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT – Circle 1 v. M/s. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 PAN: AAECT8729Q (Appellant) (Respondent) Assessee by : Ms. Aarti Vissanji Department by : Shri B.K. Bagchi Date of Hearing : 26.05.2022 Date of Pronouncement : 28.06.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the revenue against order…

DCIT, Circle- 2(1), Gurgaon vs. Mails India Medical Devices Pvt. Ltd., Gurgaon

ITA 4028/DEL/2018[2014-15]Status: DisposedITAT Delhi31 May 2022AY 2014-15

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmady. Commissioner Of Income Vs. M/S. Mais India Medical Tax, Devices Private Limited, Circle-2(1), Gurgaon. Plot No. 1221, Sec.-46, Gurgaon Pan : Aahcm7723L (Appellant) (Respondent)

Section 143(3)Section 250(6)Section 56(2)Section 56(2)(viib)Section 92

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ : NEW DELHI) BEFORE SH. G.S.PANNU, HON’BLE PRESIDENT AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER Dy. Commissioner of Income Vs. M/s. Mais India Medical Tax, Devices Private Limited, Circle-2(1), Gurgaon. Plot No. 1221, Sec.-46, Gurgaon PAN : AAHCM7723L (APPELLANT) (RESPONDENT) C.O. No. 39/Del/2021 Arising out of ITA No.4028/Del/2018 (Assessment Year : 2014-15) Dy. Commissioner of Income Vs. M/s. Mais India Medical Tax, Devices Private Limited, Circle-2(1), Gurgaon. Plot No. 1221, Sec.-46, Gurgaon PAN : AAHCM7723L (APPELLANT) (RESPONDENT) Assessee by Sh.…

M/S. Te Connectivity Services India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 300/BANG/2021[2016-17]Status: DisposedITAT Bangalore26 May 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(Tp)A No.300/Bang/2021 Assessment Year : 2016-17

For Appellant: Shri Sriram Sheshadri & Ms. Amulya K., CAsFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(TP)A No.300/Bang/2021 Assessment year : 2016-17 TE Connectivity Services Vs. The Assessing Officer, India Private Ltd., National Faceless 59/2, 1st Floor, Gurudas Heritage, Assessment Centre, Block-b, 100 Feet Ring Road, Delhi. Banashankari 2nd Stage, Bangalore – 560 070. PAN: AAFCT 3474R APPELLANT RESPONDENT Appellant by : Shri Sriram Sheshadri & Ms. Amulya K., CAs Respondent by : Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru. Date of hearing : 15.03.2022 Dat…

DCIT Circle-15 (3), Mumbai vs. M/S Rankin Infrastructure Pvt Ltd., Mumbai

In the result, Ground No. 2 and 3 raised by the revenue are dismissed

ITA 7288/MUM/2019[2015-16]Status: DisposedITAT Mumbai22 Apr 2022AY 2015-16

Bench: Shri Amarjit Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle – 15(3)(1) V. M/S. Rankin Infrastructure Pvt. Ltd., Room No. 451, 4Th Floor Next To Classic Marble Aayakar Bhavan, M.K. Road Subash Nagar Road, Bhandup (E) Mumbai - 400020 Mumbai -400078 Pan: Aafcs5275B (Appellant) (Respondent) Assessee By : Shri Rajiv Khandelwal Department By : Shri T. Shankar

For Appellant: Shri Rajiv KhandelwalFor Respondent: Shri T. Shankar
Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT – Circle – 15(3)(1) v. M/s. Rankin Infrastructure Pvt. Ltd., Room No. 451, 4th Floor Next to Classic Marble Aayakar Bhavan, M.K. Road Subash Nagar Road, Bhandup (E) Mumbai - 400020 Mumbai -400078 PAN: AAFCS5275B (Appellant) (Respondent) Assessee by : Shri Rajiv Khandelwal Department by : Shri T. Shankar Date of Hearing : 31.03.2022 Date of Pronouncement : 22.04.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the revenue against o…

Slx Logistics Private Limited, Bengaluru vs. Deputy Commissioner of Income Tax, Circle- 6(1)(1), Bengaluru

In the result appeal filed by assessee allowed for statistical purposes

ITA 1957/BANG/2019[2016-17]Status: DisposedITAT Bangalore21 Oct 2021AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 M/S. Slx Logistics Pvt. Ltd., 107, Salarpuria Cambridge The Deputy Residency, Commissioner Of 32/2, 1St Cross, Income Tax, Someshwara Layout, Circle 6(1)(1), Ulsoor, Vs. Bangalore. Bengaluru – 560 068. Pan: Aavcs0482N Appellant Respondent Assessee By : Shri Navaneeth N Kini, Ca Revenue By : Shri K. Sankarganesh, Jcit (Dr) Date Of Hearing : 13-09-2021 Date Of Pronouncement : 21-10-2021 Order Per Beena Pillai

For Appellant: Shri Navaneeth N Kini, CAFor Respondent: Shri K. Sankarganesh, JCIT (DR)
Section 142Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year : 2016-17 M/s. SLX Logistics Pvt. Ltd., 107, Salarpuria Cambridge The Deputy Residency, Commissioner of 32/2, 1st Cross, Income Tax, Someshwara Layout, Circle 6(1)(1), Ulsoor, Vs. Bangalore. Bengaluru – 560 068. PAN: AAVCS0482N APPELLANT RESPONDENT Assessee by : Shri Navaneeth N Kini, CA Revenue by : Shri K. Sankarganesh, JCIT (DR) Date of Hearing : 13-09-2021 Date of Pronouncement : 21-10-2021 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal file…

Mesers Him Agri Fesh Pvt. Ltd, Jalandhar vs. Income Tax Oficer Ward-1(2), Jalandhar

The appeal of the assessee is allowed for statistical purposes

ITA 224/ASR/2018[2014-15]Status: DisposedITAT Amritsar07 Jul 2021AY 2014-15

Bench: Sh. Laliet Kumar & Dr. M. L. Meenai.T.A. No. 224/Asr/2018 Assessment Year: 2014-15

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE SH. LALIET KUMAR, JUDICIAL MEMBER AND DR. M. L. MEENA, ACCOUNTANT MEMBER I.T.A. No. 224/Asr/2018 Assessment Year: 2014-15 M/s Him Agri Fesh Pvt. Ltd., Vs. Income Tax Officer, 518, J.P. Nagar, Jalandhar Ward-1(2), Jalandhar [PAN: AACCH 8112M] (Appellant) (Respendent) Appellant by Sh. Sudhir Sehgal, Adv. Respondent by Smt. Ratinder Kaur, D. R. Date of Hearing 06.07.2021 Date of Pronouncement 07.07.2021 ORDER Per Laliet Kumar, J.M. This appeal of the assessee is directed against the order dated 22.02.2018 passed by the Commissioner of Inc…

Rockland Diagnostics Services P.Ltd, New Delhi vs. ITO, Ward-21(3), New Delhi

The appeal of the assessee stands allowed

ITA 316/DEL/2019[2015-16]Status: DisposedITAT Delhi25 Feb 2021AY 2015-16

Bench: The Ld. Cit (A) Was Dismissed & Now The Assessee Has Approached This Tribunal

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

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI (Through Video Conferencing) BEFORE, SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER Rockland Diagnostics Income Tax Officer, Services Pvt. Ltd., Ward-21(3), B-33 & 34, Qutub Vs. New Delhi. Institutional Are, Delhi-110 017. PAN–AAGCR 7840C (Appellant) (Respondent) Appellant By Sh. K.M. Gupta, Adv. Sh. Rohit Tiwari, Adv. Respondent by Sh. Atigu Ahmed, Sr. DR Date of Hearing 01.12.2020 Date of Pronouncement 25.02.2021 ORDER PER SUDHANSHU SRIVASTAVA, JM: This appeal is preferred by the assessee against o…

N. J. Eco-Build Pvt. Ltd, Surat vs. Pr. CIT-1, . Surat

In the result, appeal of the assessee is allowed

ITA 221/SRT/2019[2014-15]Status: DisposedITAT Surat13 Dec 2019AY 2014-15

Bench: Shri Sandeep Gosain & Shri O.P.Meenaआ.अ.सं./I.T.A No.221/Srt/2019 "नधा"रण वष"/Assessment Year: 2014-15 M/S.N.J.Eco-Build Pvt Ltd., V The Principal Commissioner S-42, Belgium Square, Opp.Laxmi S Of Income Tax, Surat-1. Vilas Bank. Delhi Gate, Ring Road, . Surat. [Pan: Aaecn 1584 H] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Suresh K.Kabra – Ca राज"वक"ओरसे /Revenue By Shri Sreenivas T.Bidari – Cit-Dr सुनवाईकीतारीख/ Date Of Hearing: 09.12.2019 उ"घोषणाक"तार"ख/Pronouncement On: 13.12.2019 आदेश /O R D E R Per Sandeep Gosain, Jm: 1. This Appeal By The Assessee Is Directed Against The Order Of Ld.Principal Commissioner Of Income Tax, Surat-1, Dated 25.03.2019 For The Assessment Year 2014-15. 2. The Appeal Has Been Filed By The Assessee Against The Order Of Ld.Pr.Cit U/S.263 Of The Act.

Section 143(3)Section 263

…Page 1 of 16 N.J.ECO-BUILD PVT LTD. Vs. Pr.CIT, Surat -1/ITA No.221/SRT/2019 for A.Y. 2014-15 आयकरअपील"यअ"धकरण,सुरत"यायपीठ,सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A No.221/SRT/2019 "नधा"रण वष"/Assessment Year: 2014-15 M/s.N.J.ECO-BUILD PVT LTD., V The Principal Commissioner S-42, Belgium Square, Opp.Laxmi s of Income Tax, Surat-1. Vilas Bank. Delhi Gate, Ring Road, . Surat. [PAN: AAECN 1584 H] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee by Shri Suresh K.Kabra – CA राज"वक"ओरसे /Reve…