CIT, Udaipur v. Hotel Hilltop (313 ITR 116)

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

ITA 119/KOL/2023[2017-2018]Status: DisposedITAT Kolkata10 Aug 2023AY 2017-2018

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Subhrajyoti Bhattacharjee, CIT D/R

Section 14ASection 2(22)Section 2(22)(e)Section 2(24)(x)Section 250Section 36(1)(va)

…IT VS Sharman Woolen Mills Ltd [204 Taxman 82 (P & H HC)  CIT VS Navyug Promoters Pvt Ltd. [ 203 Taxman 618 (Del-HC)  CIT VS Ankitech Pvt Ltd. [340 ITR 14 (Del-HC)]  CIT Vs Narmina Trade Investments Pvt Ltd [2017] 81 Tacmxnn.com 129  CIT VS Hotel Hiltop [ 313 ITR 116 (Raj-HC)]  DCIT 1(1)(2), Mumbai Vs Gilbarco Veeder Root India (P) Ltd 96 Taxmann.com 263]. The counsel has also referred to the decision of jurisdictional 16. Kolkata High Court in the case of PCIT-3, Kolkata Vs. Rungta Properties (P) Ltd. dated 08.05.2017 reported in 403 ITR 234 wherein it was held that Revenue was not justified in treating su…

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

ITA 118/KOL/2023[2016-2017]Status: DisposedITAT Kolkata10 Aug 2023AY 2016-2017

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Subhrajyoti Bhattacharjee, CIT D/R

Section 14ASection 2(22)Section 2(22)(e)Section 2(24)(x)Section 250Section 36(1)(va)

…IT VS Sharman Woolen Mills Ltd [204 Taxman 82 (P & H HC)  CIT VS Navyug Promoters Pvt Ltd. [ 203 Taxman 618 (Del-HC)  CIT VS Ankitech Pvt Ltd. [340 ITR 14 (Del-HC)]  CIT Vs Narmina Trade Investments Pvt Ltd [2017] 81 Tacmxnn.com 129  CIT VS Hotel Hiltop [ 313 ITR 116 (Raj-HC)]  DCIT 1(1)(2), Mumbai Vs Gilbarco Veeder Root India (P) Ltd 96 Taxmann.com 263]. The counsel has also referred to the decision of jurisdictional 16. Kolkata High Court in the case of PCIT-3, Kolkata Vs. Rungta Properties (P) Ltd. dated 08.05.2017 reported in 403 ITR 234 wherein it was held that Revenue was not justified in treating su…

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

ITA 117/KOL/2023[2014-15]Status: DisposedITAT Kolkata10 Aug 2023AY 2014-15

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Subhrajyoti Bhattacharjee, CIT D/R

Section 14ASection 2(22)Section 2(22)(e)Section 2(24)(x)Section 250Section 36(1)(va)

…IT VS Sharman Woolen Mills Ltd [204 Taxman 82 (P & H HC)  CIT VS Navyug Promoters Pvt Ltd. [ 203 Taxman 618 (Del-HC)  CIT VS Ankitech Pvt Ltd. [340 ITR 14 (Del-HC)]  CIT Vs Narmina Trade Investments Pvt Ltd [2017] 81 Tacmxnn.com 129  CIT VS Hotel Hiltop [ 313 ITR 116 (Raj-HC)]  DCIT 1(1)(2), Mumbai Vs Gilbarco Veeder Root India (P) Ltd 96 Taxmann.com 263]. The counsel has also referred to the decision of jurisdictional 16. Kolkata High Court in the case of PCIT-3, Kolkata Vs. Rungta Properties (P) Ltd. dated 08.05.2017 reported in 403 ITR 234 wherein it was held that Revenue was not justified in treating su…

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

ITA 116/KOL/2023[2013-2014]Status: DisposedITAT Kolkata10 Aug 2023AY 2013-2014

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Subhrajyoti Bhattacharjee, CIT D/R

Section 14ASection 2(22)Section 2(22)(e)Section 2(24)(x)Section 250Section 36(1)(va)

…IT VS Sharman Woolen Mills Ltd [204 Taxman 82 (P & H HC)  CIT VS Navyug Promoters Pvt Ltd. [ 203 Taxman 618 (Del-HC)  CIT VS Ankitech Pvt Ltd. [340 ITR 14 (Del-HC)]  CIT Vs Narmina Trade Investments Pvt Ltd [2017] 81 Tacmxnn.com 129  CIT VS Hotel Hiltop [ 313 ITR 116 (Raj-HC)]  DCIT 1(1)(2), Mumbai Vs Gilbarco Veeder Root India (P) Ltd 96 Taxmann.com 263]. The counsel has also referred to the decision of jurisdictional 16. Kolkata High Court in the case of PCIT-3, Kolkata Vs. Rungta Properties (P) Ltd. dated 08.05.2017 reported in 403 ITR 234 wherein it was held that Revenue was not justified in treating su…

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 2114/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 1751/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 2293/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 3492/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2010-11

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 3470/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2010-11

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

In the result the appeal of the assessee is partly allowed

ITA 2276/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad12 Apr 2021AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Tushar P. HemaniSr. Advocate withShriParimalSinhParmar, A.RFor Respondent: Shri Mohd Usman, CIT. D.R with Shri Lalit P. Jain. Sr. D.R

Section 115JSection 234ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’’BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. Asstt. Name of ITANo. Name of Appellant No. Year Respondent Lambda Therapeutic Research Ltd. Lambda House. Opp. 3492/Ahd/2015 Gujarat High Court, J.C.I.T, 1. 2010-11 S.G. Highway, Range-4, Gota, Ahmedabad- Ahmedabad 380061. PAN : AAACL4089R Lambda Therapeutic Research Ltd. Lambda House. Opp. 3470/Ahd/2015 D.C.I.T, Gujarat High Court, 2. 2010-11 Circle-2(1)(2), S.G. Highway, Ahmedabad…

DCIT, CIRCLE - 10(1), KOLKATA , KOLKATA vs. M/S. DREAM BAKE PVT. LTD., , KOLKATA

ITA 242/KOL/2018[2013-14]Status: DisposedITAT Kolkata31 Jan 2019AY 2013-14

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 2(22)(e)Section 40S(2)(b)

…ssue no longer a res integra. The citations of those decisions are given as below for ready reference: -CIT -vs.- Ankitech P. Ltd. & Ors. (2012) 340 ITR 14 (Del) -CIT -vs.- Universal Medicare (P) Ltd. (2010) 324 ITR 263 (Bom.) -ACIT -vs.- Hotel Hilltop (2009) 313 ITR 116 (Raj) -CIT vs. Jignesh P. Shah (ITA No. 1970(2013 dated 20-01-2015) -CIT v/so Impact Containers Pvt. Ltd. (2014) 367ITR 346 (Bom) -ACIT -vs.- Bhaumik Colour P. Ltd (2009) 313 ITR 146 (Mum SB) -Dhall Properties Pvt. Ltd. -vs.-ITO (ITA No. 70/Kol/2012) -DCIT -vs.- Meenakshi Tea Co. Ltd.(1TA No. 953/Kol/2011) The appellant would like to submit that…

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GPSAR HEALTHCARE LTD.,, AHMEDABAD

In the result, both the appeals filed by the revenue on this issue for A

ITA 2905/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad18 Jan 2019AY 2011-12

For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Kamlesh Makwana, Sr. D.R

Section 73

…herein the Hon’ble High Court has laid down the ratio that deemed dividend have to be taxed in the hands of the shareholder and not in the hands of the assessee company. A similar view was taken by the Hon’ble Rajasthan High Court in the case of Hotel Hilltop 313 ITR 116 and also by the Hon’ble Jurisdictional High Court of Gujarat in the case of Daisy Packers Pvt. Ltd. 220 Taxman 331. 14. Respectfully following the decision of Co-ordinate Bench of the ITAT as supra on similar facts and issue in the case of the assessee itself , we do not find any error or infirmity in the findings of ld. CIT(A). Therefore this gr…

GPSAR HEALTH CARE LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AHMEDABAD

In the result, both the appeals filed by the revenue on this issue for A

ITA 2894/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad18 Jan 2019AY 2011-12

For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Kamlesh Makwana, Sr. D.R

Section 73

…herein the Hon’ble High Court has laid down the ratio that deemed dividend have to be taxed in the hands of the shareholder and not in the hands of the assessee company. A similar view was taken by the Hon’ble Rajasthan High Court in the case of Hotel Hilltop 313 ITR 116 and also by the Hon’ble Jurisdictional High Court of Gujarat in the case of Daisy Packers Pvt. Ltd. 220 Taxman 331. 14. Respectfully following the decision of Co-ordinate Bench of the ITAT as supra on similar facts and issue in the case of the assessee itself , we do not find any error or infirmity in the findings of ld. CIT(A). Therefore this gr…

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT vs. SAI JYOTI FASHIONS PVT. LTD.,, SURAT

In the result, the appeal of the Revenue is dismissed

ITA 2365/AHD/2016[2008-0]Status: DisposedITAT Surat24 Oct 2018

Bench: C .M. Garg & O. P. Meenaआ सं अ

Section 2(22)(e)Section 56(2)(i)

…DCIT 2(1)(2) Surat v. Sai Jyoti Fashion Pvt. Ltd. /I.T.A. No.2365/Ahd/2016/A.Y.0809 Page 1 of 7 आयकर अपीलीय अिधकरण,सुरत "यायपीठ, सुरत INCOM TAX APPELLATE TRIBUNAL-SURAT-BENCH-SURAT "ी सी.एम.गग", "याियक सद"य तथा "ी ओ.पी.मीना, लेखा सद"य के सम" BEFORE C .M. GARG, JUDICIAL MEMBER AND O. P. MEENA, ACCOUNTANT MEMBER आ सं अ I.T.A No.2365/Ahd/2016 /. . . िनधा"रण वष"/Assessment Year:2008-09 Deputy Commissioner of V. M/s. Sai Jyoti Fashion Pvt. Income-Tax, Ltd. Plot No.74, Near Circle -2(1)(2) Surat Eswariya Mills, Kadodara, Vareli, Palsana, Surat PAN:AAFCS8000E अपीलाथ" Appellant ""यथ"/Respondent िनधा"रती क" ओर से Assesse…

ACIT CIRCLE-2(1), GWALIOR vs. ROYAL AUTOMOBILES P LTD, GWALIOR

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

ITA 122/AGR/2017[2012-13]Status: DisposedITAT Agra07 Dec 2017AY 2012-13

Bench: The Ao.

Section 2(22)(e)

…Ltd. (2014) 220 Taxman 209 (Delhi) (HC) 3. CIT v, Daisy Packers (P.) Ltd. (2014) 220 Taxman 331 (Guj)(HC) 4. CIT v. Suram Holding (P.) Ltd. (2014) 220 Taxman 327(Raj.)(HC) 5. ACIT.v. Britto Amusement P. Ltd. (2014) 360ITR 544 (Bom)(HC) 6. CIT Vs Hotel Hilltop 313 ITR 116 (Raj) 7. ClT Vs Universal Medicare P Ltd 324ITR 263 (Mum) 5.1.3 In view of the view, I am of the opinion that the dividend even under section 2(22)(e) of the Act can be taxed only in the hands of the shareholder. As in the instant case, the appellant is neither a beneficial nor a registered shareholder of M/S Royal ITA 121 & 122/Agra/2017 6 Mot…

ACIT CIRCLE-2(1), GWALIOR vs. ROYAL AUTOMOBILES P LTD, GWALIOR

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

ITA 121/AGR/2017[2011-12]Status: DisposedITAT Agra07 Dec 2017AY 2011-12

Bench: The Ao.

Section 2(22)(e)

…Ltd. (2014) 220 Taxman 209 (Delhi) (HC) 3. CIT v, Daisy Packers (P.) Ltd. (2014) 220 Taxman 331 (Guj)(HC) 4. CIT v. Suram Holding (P.) Ltd. (2014) 220 Taxman 327(Raj.)(HC) 5. ACIT.v. Britto Amusement P. Ltd. (2014) 360ITR 544 (Bom)(HC) 6. CIT Vs Hotel Hilltop 313 ITR 116 (Raj) 7. ClT Vs Universal Medicare P Ltd 324ITR 263 (Mum) 5.1.3 In view of the view, I am of the opinion that the dividend even under section 2(22)(e) of the Act can be taxed only in the hands of the shareholder. As in the instant case, the appellant is neither a beneficial nor a registered shareholder of M/S Royal ITA 121 & 122/Agra/2017 6 Mot…

P. JAMES,MUMBAI vs. ASST CIT 12(1), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 982/MUM/2015[2010-11]Status: DisposedITAT Mumbai22 Nov 2017AY 2010-11

Bench: Shri Saktijit Dey () & Shri G Manjunatha ()

Section 143(3)Section 147Section 148Section 2Section 2(22)(e)Section 271Section 271(1)(c)Section 274

…accurate particulars of income which warrants levy of penalty u/s 271(1)(c) of the Act The AO, after considering the submissions of the assessee and also relying upon the decision of Hon’ble Rajasthan High Court in the case of CIT vs Hotel Hill Top (2009) 313 ITR 116 (Raj) observed that the assessee has failed to offer an explanation with regard to the non disclosure of deemed dividend towards loans borrowed from a company, in which he was a beneficial shareholder, in the return of income for the relevant assessment year. The assessee also failed to prove the explanation offered by him is bona fide. Therefo…

D.C.I.T., CIRCLE-2, GWALIOR vs. M/S PREM MOTORS PVT LTD., GWALIOR

The appeals of the department are dismissed

ITA 327/AGR/2014[2010-11]Status: DisposedITAT Agra16 Nov 2017AY 2010-11

Section 2(22)(e)Section 22Section 40A(2)(b)

…R Magnetics (P) Ltd (2014) 220 Taxman 209 (Del. HC) CIT Vs Daisy Packers (P) Ltd. (2014) 220 Taxman 331 (Guj. HC) CIT VsSuram Holdings (P) Ltd. (2014) 220 Taxman 327 (Raj. HC) ACIT Vs Britto Amusement P. Ltd (2014) 360 ITR 544 (Bom. HC) CIT Vs Hotel Hilltop – 313 ITR 116 (Raj) CIT Vs Universal Medicare P. Ltd. 324 ITR 263 (Mum) 5.3.3 I am also of the view that the dividend even under section 2(22)(e) can be taxed only in the hands of the shareholder. As the appellant is neither a beneficial nor a registered shareholder of Vinayaka Farms & Resorts (I) Pvt Ltd and thus any advance received by the appellant from suc…

RAVINDRA R. FOTEDAR,MUMBAI vs. ASST CIT 10(2), MUMBAI

In the result, the appeal of the assessee is allowed

ITA 6778/MUM/2013[2010-11]Status: DisposedITAT Mumbai11 Sept 2017AY 2010-11

Bench: Shri P K Bansal & Shri Amarjit Singhassessment Year : 2010 – 2011 Ravindra R Fotedar Acit 10(2) 7 Bharat Tirth Society, Mumbai Vs. Sion Trombay Road, Chembur, Mumbai 400 071 Pan Aacpf1616R (Appellant) (Respondent)

For Appellant: Shri Anuj KisnadwalaFor Respondent: Shri Purushottam Kumar

Section 2(22)(e)

…n ancillary unit of both the assessee and sister company striving for export and made international standard was not regarded to be deemed dividend under section 2(22)(e). Rajasthan High Court also has taken the same view in the case of CIT Vs. Hotel Hilltop 313 ITR 116(Raj.). 10. Now coming to the facts of the assessee. So far as the sum of ` 48,50,000/- is concerned, this amount has been paid by Flamingo Additives & Colourants Pvt. Ltd to Flamingo Polycolours Pvt. Ltd. In Flamingo Additives & Colourants Pvt. Ltd the assessee has 48% share holding while in Flamingo Polycolours Pvt. Ltd., the share holding o…

RATAN TAXTILES P. LTD.,JAIPUR vs. DCIT, JAIPUR

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

ITA 527/JPR/2016[2009-10]Status: DisposedITAT Jaipur21 Apr 2017AY 2009-10

For Appellant: Shri Manish Agarwal &For Respondent: Shri Rajendra Singh (Addl.CIT)

Section 133ASection 143(3)Section 145(3)

…e to the appellant company and not to its share holders, therefore, the provisions of section 2(22) (e) is not applicable to the appellant company. Reliance was placed on the decision of Hon’ble Rajasthan High Court in the cases of CIT Vs Hotel Hilltop [2009] 313 ITR 116(Raj) and Hon’ble ITAT, Agra in the case of Indian Casting Company vs. Income tax Department (19.07.2012) in which the above decision was followed. (vii) It may be mentioned that the Hon’ble Rajasthan High Court in the case of CIT Vs Hotel Hilltop (Supra) held that: “From reading of section 2(22)(e) it is clear, that it comprehends manifold requi…

CIT, Udaipur v. Hotel Hilltop

Judgments citing CIT, Udaipur v. Hotel Hilltop

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

LAMBDA THERAPEUTIC RESEARCH LTD.,,AHMEDABAD vs. DCIT CIRCLE-2(1) (2),, AHMEDABAD

THE DCIT, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMBDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE JT. CIT, RANGE-4,, AHMEDABAD

DY.COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD vs. M/S. LAMDA THERAPEUTIC RESEARCH LTD.,, AHMEDABAD

LAMBDA THERAPEUTIC RESEARCH LIMITED,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, AHMEDABAD

DCIT, CIRCLE - 10(1), KOLKATA , KOLKATA vs. M/S. DREAM BAKE PVT. LTD., , KOLKATA

THE ITO, WARD-2(1)(1),, AHMEDABAD vs. M/S. GPSAR HEALTHCARE LTD.,, AHMEDABAD

GPSAR HEALTH CARE LTD.,,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AHMEDABAD

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT vs. SAI JYOTI FASHIONS PVT. LTD.,, SURAT

ACIT CIRCLE-2(1), GWALIOR vs. ROYAL AUTOMOBILES P LTD, GWALIOR

ACIT CIRCLE-2(1), GWALIOR vs. ROYAL AUTOMOBILES P LTD, GWALIOR

P. JAMES,MUMBAI vs. ASST CIT 12(1), MUMBAI

D.C.I.T., CIRCLE-2, GWALIOR vs. M/S PREM MOTORS PVT LTD., GWALIOR

RAVINDRA R. FOTEDAR,MUMBAI vs. ASST CIT 10(2), MUMBAI

RATAN TAXTILES P. LTD.,JAIPUR vs. DCIT, JAIPUR