CIT v. Creative World Telefilms Ltd.

333 ITR 100High Court2011#376 most cited

What is CIT v. Creative World Telefilms Ltd. authority for?

If an assessee provides the identity, address, PAN, and banking details of shareholders for share capital or application money received through banking channels, the Assessing Officer must conduct a thorough investigation beyond merely issuing unserved summons before making an addition under Section 68.

235

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Creative World Telefilms Ltd. · Section 68 · share capital addition · share application money · Assessing Officer investigation · onus on AO · genuineness of transaction · creditworthiness of shareholders · PAN details · unserved summons · 333 ITR 100

Also reported as

15 Taxmann.com 183

Sections most often in play

Section 133(6)Section 143(3)Section 147Section 68Section 131Section 132(4)Section 37(1)Section 69A

Issues it is cited on

creditworthiness of the creditorbogus share capitalretraction of statementretracted statementsource of sourceshare capital and share premiumshare application moneypermanent account numberaddition u/s 68genuineness of the transactionaddition under section 68section 131

Judgments citing CIT v. Creative World Telefilms Ltd.

Nisa Industrial Services Pvt. Ltd., Mumbai vs. ACIT- WD -10(3)(1), Mumbai

ITA 3171/MUM/2018[2014-15]Status: DisposedITAT Mumbai24 Nov 2020AY 2014-15

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am

For Appellant: Respondent byFor Respondent: Ms. Kavita P. Kaushik, DR
Section 131Section 133Section 133ASection 143Section 143(2)

…e appearing in books than department is free to reopen individual assessment in accordance with law but it cannot be regarded as undisclosed income of the assessee company. (5) The Hon'ble Bombay High Court in the case of CIT v/c Creative World Telefilms Ltd.333 ITR 100 has held as under: "If the share application money is received by the assessee company from alleged bogus share holders who’s name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. Held, dismissing the appeal, that there was no dispute that the assessee had…

Vodafone India Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 7(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1835/MUM/2018[2006-07]Status: DisposedITAT Mumbai28 Aug 2020AY 2006-07
For Appellant: Shri P.J. Pardiwala and Shri Nitesh JoshiFor Respondent: Shri Parag Vyas (Special Counsel of Deptt)
Section 143(3)Section 144C(13)Section 220(2)Section 263Section 271(1)(c)Section 68

…68 of the Act. Consequently, additions made on this count as raised in grounds of appeal are deleted. Assessee's grounds of appeal on this issue are allowed.” Similar, observations have been made in the following cases.  CIT v Creative World Telefilms Ltd (333 ITR 100) (Jurisdictional Bombay High Court)  CIT v. Dwarkadhish Investment (P) Ltd. ITA No.911/2010 – Del HC  S. Hastimal v. CIT[1963] 49 ITR 273 (Mad.)  Tolaram Daga v. CIT[1966] 59 ITR 632 (Assam)  CIT v. Daulat Ram Rawatmull [1973] 87 ITR 349 (SC)  Sarogi Credit Corpn. v. CIT [1976] 103 ITR 344 (Pat.) 38 Vodafone India Limited vs DCIT, Circle 8(…

Im.Media Pvt. Ltd. (Now Known As M/S.Saraswathi Media Pvt. Ltd.), Mumbai vs. ACIT Circle 16(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2907/MUM/2018[2007-08]Status: DisposedITAT Mumbai05 Mar 2020AY 2007-08

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2007-08 Assessment Year: 2008-09

For Appellant: Shri Vijay Mehta, A.RFor Respondent: Shri Awungshi Limson, D.R
Section 143(1)Section 147Section 148Section 148(2)Section 234BSection 234CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2007-08 Assessment Year: 2008-09 M/s. IM Media Pvt. ACIT Circle 16(1), Ltd. (Now known as Aayakar Bhavan, M/s. Saraswathi M.K. Road, Media Pvt. Ltd.), Vs. Mumbai - 400020 411, Embassy Centre, Nariman Point, Mumbai – 400 021 PAN: AABCI 6694L (Appellant) (Respondent) Present for: Assessee by : Shri Vijay Mehta, A.R. Shri Anuj Kisnadwala, A.R. Revenue by : Shri Awungshi Limson, D.R. Date of Hearing : 11.12.2019 Date of Pronouncement : 05.03.2020 O…

Rukmani Agencies Private Limited, Mumbai vs. DCIT, Cent.Cir-5(1), Mumbai

In the result, appeal filed by the assessee is allowed”

ITA 2562/MUM/2018[2010-11]Status: DisposedITAT Mumbai02 Mar 2020AY 2010-11

Bench: Shri R.C.Sharmarukmani Agencies Private Vs. D.C.I.T., Limited, Central Circle-5(1), 4Th Floor, Silver Metropolis, 19Th Floor, Air India Jaicoach Compound, Building, Nariman Point, Opposite Bimbisar Nagar, Mumbai-400021. Western Express, Highway Goregaon (E), Mumbai- 400063. Pan/Gir No.Aaacr 4998 P (Appellant) .. (Respondent)

For Appellant: “1. The ld. CIT(A) has erred in law and on facts in upholding the additions made
Section 132(1)Section 143(3)Section 14ASection 68

…that the Tribunal's finding that there is no justification in the addition made under Section 68 of the Income Tax Act,, 1961 neither suffers from any perversity nor gives rise to any substantial question of law." CIT vs. Creative World Tele films Ltd (2011) 333 ITR 100 (Born- High Court) "The question sought to be raised in the appeal was also raised before the Tribunal and the Tribunal was pleased to follow the judgment of the apex Court in the case of CIT vs. Lovely Exports (P) Ltd. (2008) 216 CTR (SC) 195. wherein the apex Court observed that if the share application money is received by the assessee-company…

Income Tax Officer 12(2)(2), Mumbai vs. M/S. East Asiatic Infrastructure Corp. Private Limited, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 5884/MUM/2017[2012-13]Status: DisposedITAT Mumbai18 Feb 2020AY 2012-13

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2012-13

For Appellant: Shri Amit Pratap Singh, A.RFor Respondent: Shri Bhupendra Shah, D.R
Section 143(1)Section 143(2)Section 143(3)Section 68

…e 6 M/s. East Asiatic Infrastructure Corp. Pvt. Ltd. department is free to proceed to open their assessments in accordance with law but it can not be treated as undisclosed income of the assessee. Similarly, in the case of CIT vs. Creative World Telefilms Ltd 333 ITR 100 the Hon’ble Bombay High Court has held that where the assessee has filed the documents like PAN card, bank details and details from the bankers before the AO and it is up to the AO to reach the shareholders to ascertain the facts. The AO has to make the further enquiry with regard to status of the parties to bring on record any adverse finding re…

Income-Tax Officer vs. Prathamesh Ceramics Pvt. Ltd., Nashik

In the result, appeal of the Revenue in ITA No

ITA 2262/PUN/2014[2011-12]Status: DisposedITAT Pune04 Feb 2020AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

For Appellant: Shri Kishore PhadkeFor Respondent: Shri Deepak Garg
Section 132Section 68

…aggrieved by the order of the Assessing Officer, the assessee preferred appeal before the Ld. CIT(Appeals) and the Ld. CIT(Appeals) relying on the decision of the Hon’ble Jurisdictional High Court in the matter of CIT Vs. Creative World Telefilms Ltd., (2011) 333 ITR 100 ( Bom.) and the decision of Tribunal in the matter of M/s. Orchid Industries Pvt. Ltd. Vs. DCIT, CC-22, Mumbai, dated 07.02.2014 granted relief to the assessee as per Para 21 and 22 to the following effect: “21. In the above cited cases, the Bombay High Court, the Tribunals in Mumbai and Pune have followed the Hon’ble Supreme Court decision in t…

Income-Tax Officer vs. Prathamesh Ceramics Pvt. Ltd., Nashik

In the result, appeal of the Revenue in ITA No

ITA 2261/PUN/2014[2010-11]Status: DisposedITAT Pune04 Feb 2020AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

For Appellant: Shri Kishore PhadkeFor Respondent: Shri Deepak Garg
Section 132Section 68

…aggrieved by the order of the Assessing Officer, the assessee preferred appeal before the Ld. CIT(Appeals) and the Ld. CIT(Appeals) relying on the decision of the Hon’ble Jurisdictional High Court in the matter of CIT Vs. Creative World Telefilms Ltd., (2011) 333 ITR 100 ( Bom.) and the decision of Tribunal in the matter of M/s. Orchid Industries Pvt. Ltd. Vs. DCIT, CC-22, Mumbai, dated 07.02.2014 granted relief to the assessee as per Para 21 and 22 to the following effect: “21. In the above cited cases, the Bombay High Court, the Tribunals in Mumbai and Pune have followed the Hon’ble Supreme Court decision in t…

Income-Tax Officer vs. Prathamesh Ceramics Pvt. Ltd., Nashik

In the result, appeal of the Revenue in ITA No

ITA 2260/PUN/2014[2009-10]Status: DisposedITAT Pune04 Feb 2020AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Laliet Kumar, Jm आयकर अपीऱ सं. / Ita Nos. 2260, 2261 & 2262/Pun/2014 नििाारण वषा / Assessment Years: 2009-10, 2010-11 & 2011-12 The Income Tax Officer, Ward 2(2), Nashik. .......अऩीऱाथी / Appellant बिाम / V/S. Prathamesh Ceramics Pvt. Ltd. Plot No. 4/5, Anandkunj Appttl. Juna Gangapur Naka, Gangapur Road, Nashik. Pan: Aaecp1078Q ……प्रत्यथी / Respondent

For Appellant: Shri Kishore PhadkeFor Respondent: Shri Deepak Garg
Section 132Section 68

…aggrieved by the order of the Assessing Officer, the assessee preferred appeal before the Ld. CIT(Appeals) and the Ld. CIT(Appeals) relying on the decision of the Hon’ble Jurisdictional High Court in the matter of CIT Vs. Creative World Telefilms Ltd., (2011) 333 ITR 100 ( Bom.) and the decision of Tribunal in the matter of M/s. Orchid Industries Pvt. Ltd. Vs. DCIT, CC-22, Mumbai, dated 07.02.2014 granted relief to the assessee as per Para 21 and 22 to the following effect: “21. In the above cited cases, the Bombay High Court, the Tribunals in Mumbai and Pune have followed the Hon’ble Supreme Court decision in t…

Income Tax Officer-13(3)(3), Mumbai vs. Varad Vinayak Estates Private Limited, Mumbai

ITA 5133/MUM/2017[2010-11]Status: DisposedITAT Mumbai28 Jan 2020AY 2010-11

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2009-10 Ito-13(3)(3), Mumbai

For Appellant: Surabhi Sharma, Sr. DRFor Respondent: Hariom Tulsiyan, Advocate
Section 133(6)Section 139(1)Section 143(1)Section 147Section 148

…then the department is free to proceed to reopen their individual assessments in accordance with law but it cannot be regarded as undisclosed income of assessee company". (ii) The Hon'ble Bombay High Court in the case of CIT v/s Creative World Telefilms Ltd 333 ITR 100 has held as under: "If the share application money is received by the assessee company from alleged bogus share holders who's name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. Held, dismissing the appeal, that there was no dispute that the assessee had…

ITO 13(3)(3), Mumbai vs. Varad Vinayak Estates P.Ltd, Mumbai

ITA 5820/MUM/2016[2009-10]Status: DisposedITAT Mumbai28 Jan 2020AY 2009-10

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2009-10 Ito-13(3)(3), Mumbai

For Appellant: Surabhi Sharma, Sr. DRFor Respondent: Hariom Tulsiyan, Advocate
Section 133(6)Section 139(1)Section 143(1)Section 147Section 148

…then the department is free to proceed to reopen their individual assessments in accordance with law but it cannot be regarded as undisclosed income of assessee company". (ii) The Hon'ble Bombay High Court in the case of CIT v/s Creative World Telefilms Ltd 333 ITR 100 has held as under: "If the share application money is received by the assessee company from alleged bogus share holders who's name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. Held, dismissing the appeal, that there was no dispute that the assessee had…

Asst CIT Cen Cir 3, Thane vs. Credential Equities P. Ltd, Bhayander

In the result, the appeal of Revenue dismissed

ITA 3808/MUM/2017[2009-10]Status: DisposedITAT Mumbai28 Nov 2019AY 2009-10

Bench: Shri R.C. Sharma & Shri Pawan Singh: A.Y : 2009-10

For Appellant: Shri Rakesh JoshiFor Respondent: Shri Awungshi Gimson
Section 131Section 132Section 133(6)Section 139(1)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER : A.Y : 2009-10 ACIT, Central Circle-3, Thane vs. M/s. Credential Equities Pvt. Ltd. (Appellant) Ground floor, Bhairav Shrusthti, 150 feet Road, Bhayander (W). PAN : AACCC0112C (Respondent) Assessee by : Shri Rakesh Joshi Revenue by : Shri Awungshi Gimson Date of Hearing : 09/09/2019 Date of Pronouncement : 28/11/2019 O R D E R PER R.C. SHARMA, ACCOUNTANT MEMBER This is an appeal filed by the Revenue against the order of CIT(A) for assessment year 2009-10 in the matter…

DCIT, Central Cir-8(4), Mumbai vs. M/S. Amazon Metals Private Limited, Mumbai

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

ITA 905/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

Section 131Section 147Section 148

…precedents: a) CIT vs. Green Infra Ltd (2017) 292 CTR 233(Bombay) b) CIT vs. Gagandeep Infrastructure Pvt Ltd.(2017) 394 ITR 680(Bombay) c) CIT vs. Goa Sponge and Power Ltd Tax Appeal No. 16 of 2012 (Bombay High Court) d) CIT vs. Creative World Telefilms Ltd 333 ITR 100 (Bom- High Court) e) CIT vs. Lovely Exports (P) Ltd 216 CTR 195 (SC) f) CIT vs. Steller Investment Ltd 251ITR 263 (SC) g) SDB Estate Pvt Ltd vs. ITO ITA No.584/M/2015 h) CIT vs. Expo Globe India Ltd 361 ITR(0147 (Del-High Court) i) CIT vs. Victory Spinning Mills Ltd (2014) 90 CCH 55 (Mad -High Court) j) CIT vs. Dwarkadhish Investment (P) Ltd (2…

Dcie Central Circle-8(4), Mumbai vs. M/S.Pali Fabrics Private Limited, Mumbai

In the result appeal filed by the revenue is dismissed

ITA 904/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Pali Fabrics Pvt.Ltd. Room No. 658, 6Th Floor 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road 37-40 Subash Road Mumbai-400 020 Vile Parle(E) Mumbai-400 057 Pan/Gir No.Aafcp0089G (Appellant) .. Respondent) & C.O. No. 77/Mum/2019 (Arising Out Of Ita No.904/Mum/2018) (Assessment Year: 2009-10) M/S Pali Fabrics Pvt.Ltd. Vs. Dcit, Cc-8(4) 5Th Floor, Sunteck Centre, Room No. 658, 6Th Floor 37-40 Subash Road Aaykar Bhawan, M.K.Road Vile Parle(E) Mumbai-400 020 Mumbai-400 057 Pan/Gir No.Aafcp0089G (Appellant) .. Respondent)

Section 131Section 139Section 143(2)Section 147Section 148

…o.904 /Mum/2018 C.O.No. 77/Mum/2019 M/s. Pali Fabrics Pvt.Ltd. & b) CIT vs. Gagandeep Infrastructure Pvt Ltd.(2017) 394 ITR 680(Bombay) c) CIT vs. Goa Sponge and Power Ltd Tax Appeal No. 16 of 2012 (Bombay High Court) d) CIT vs. Creative World Telefilms Ltd 333 ITR 100 (Bom- High Court) e) CIT vs. Lovely Exports (P) Ltd 216 CTR 195 (SC) f) CIT vs. Steller Investment Ltd 251ITR 263 (SC) g) SDB Estate Pvt Ltd vs. ITO ITA No.584/M/2015 h) CIT vs. Expo Globe India Ltd 361 ITR(0147 (Del-High Court) i) CIT vs. Victory Spinning Mills Ltd (2014) 90 CCH 55 (Mad -High Court) j) CIT vs. Dwarkadhish Investment (P) Ltd (2…

DCIT Central Cir-8(4), Mumbai vs. M/S.Acro Exports Trade Private Limited, Mumbai

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

ITA 903/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

Section 131Section 147Section 148

…precedents: a) CIT vs. Green Infra Ltd (2017) 292 CTR 233(Bombay) b) CIT vs. Gagandeep Infrastructure Pvt Ltd.(2017) 394 ITR 680(Bombay) c) CIT vs. Goa Sponge and Power Ltd Tax Appeal No. 16 of 2012 (Bombay High Court) d) CIT vs. Creative World Telefilms Ltd 333 ITR 100 (Bom- High Court) e) CIT vs. Lovely Exports (P) Ltd 216 CTR 195 (SC) f) CIT vs. Steller Investment Ltd 251ITR 263 (SC) g) SDB Estate Pvt Ltd vs. ITO ITA No.584/M/2015 h) CIT vs. Expo Globe India Ltd 361 ITR(0147 (Del-High Court) i) CIT vs. Victory Spinning Mills Ltd (2014) 90 CCH 55 (Mad -High Court) j) CIT vs. Dwarkadhish Investment (P) Ltd (2…

ITO 12(2)(3), Mumbai vs. Greeksoft Institute of Financial Market Pvt. Ltd., Mumbai

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

ITA 5867/MUM/2017[2011-12]Status: DisposedITAT Mumbai22 Aug 2019AY 2011-12

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2011-12

For Appellant: Shri Kirna Mehta, C.AFor Respondent: Shri Chaudhary Arun Kumar Singh, D.R
Section 133(6)Section 143(1)Section 143(3)Section 147Section 148Section 68

…confronted with the assessee, could not have been relied upon by the assessing officer. 20. We notice that the Ld CIT(A) has also placed reliance on the decision rendered by Hon’ble Bombay High Court in the case of CIT vs. Creative World Telefilms Ltd (2011)(333 ITR 100), wherein also identical views as that of Hon’ble Delhi High Court has been expressed. The relevant observations made by Hon’ble jurisdictional High Court are extracted below:- “In the case in hand, it is not disputed that the assessee had given the details of name and address of the shareholder, their PA/GIR number and had also given the cheque…

Deputy Commissioner of Income Tax 12(2)(1), Mumbai vs. M/S.D.N.H.Spinners Private Limited, Mumbai

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

ITA 6315/MUM/2017[2013-14]Status: DisposedITAT Mumbai08 Aug 2019AY 2013-14

Bench: Shri C.N. Prasad & Shri Rajesh Kumar

For Appellant: Shri Rakesh Joshi, A.RFor Respondent: Shri D.G. Pansari, D.R
Section 132(4)Section 133ASection 68

…ques. Therefore, when all these documentary evidence are considered there appears not much basis for any addition. 5.7 The Bombay High Court in the case of CIT v. Creative World Telefilms Ltd. (in I. T. A. No. 2182 of 2009 decided on October 12, 2009) [2011] 333 ITR 100 has held that :- The relevant portion of this order is reproduced below: "In the case in hand, it is not disputed that the assessee had given the details of name and address of the shareholder, their PA/GIR number and had also given the cheque number, name of the bank. It was expected on the part of the Assessing Officer to make proper investig…

Income Tax Officer 12(1)(4), Mumbai vs. Cymbal Mercantile Private Limited, Mumbai

In the result, appeal of the revenue is dismissed

ITA 5367/MUM/2017[2012-13]Status: DisposedITAT Mumbai17 Jul 2019AY 2012-13

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhito-12(1)(4) M/S Cymbal Mercantile Pvt. Ltd. Room No. 145A, B-204, Kesar Baug, L.T. Road, Aayakar Bhavan, M.K. Borivali (East), Road, Church Gate, Mumbai-400092. Vs. Mumbai-400020. Pan: Aaecc7675C Appellant Respondent Appellant By : Shri Pramod Nikalje (Dr) Respondent By : Shri V. Chandrasekhar (Ar) Date Of Hearing : 23.04.2019 Date Of Pronouncement : 17.07.2019 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh; 1. This Appeal By Revenue Under Section 253 Of Income-Tax Act (‘Act’) Is Directed Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-

For Appellant: Shri Pramod Nikalje (DR)For Respondent: Shri V. Chandrasekhar (AR)
Section 253Section 254(1)Section 56(2)(viib)Section 68

…ance Ltd (205 ITR 98 Delhi), CIT Versus Stellar Investment Ltd (192 ITR 287 Delhi), CIT versus Gangeshwari Metal Private Ltd (361 ITR 10), Bombay High Court in case of CIT Versus Creative World Telefilms (ITA No. 2182 of 2009) decided on 12th October 2009 (333 ITR 100). 14. We have seen that the ld CIT(A) has given categorical finding that assessee has proved the identity of investor, creditworthiness and genuineness of transaction. No contrary facts of law is brought to our notice that the finding of the ld CIT(A) is not based on the material available on record. With utmost regard to the decision of the Ho…

Bla Power Holding Private Limited, Mumbai vs. Income Tax Officer Circle-3(1)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 217/MUM/2019[2010-11]Status: DisposedITAT Mumbai10 Jul 2019AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2010-11

For Appellant: Shri Madhur Agarwal, A.RFor Respondent: Shri H.N. Singh, D.R
Section 143Section 143(1)Section 147Section 148Section 234BSection 271Section 68Section 69C

…account of the share capital; the Ld. CIT(A) erred in ignoring the judgment of the Hon'ble Apex Court in Lovely Exports Pvt Ltd [216 CTR 195] and host of other judgments including Jurisdictional High Court judgment in the case of Creative World Telefilms Ltd.[333 ITR 100| and Paradise Inland Shipping Pvt Ltd. (unreported) 3. On the facts and circumstances of the case, the Ld. CIT(A) legally erred in confirming the addition of Rs.18,00,000 being 1% of the share capital money raised (not share application) u/s 69C of the Act made by the AO during the re-assessment proceedings. 4. On the facts and circumstances of…

Income Tax Officer-4(2)(4), Mumbai vs. M/S.Mayuresh Logistics Private Limited, Mumbai

ITA 6691/MUM/2017[2009-10]Status: DisposedITAT Mumbai24 Jun 2019AY 2009-10

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri G. Manjunatha, Am आयकरअपीलसं./ I.T.A. No. 6691/Mum/2017 (निर्धारणवर्ा / Assessment Year:2009-10) In The Matter Of:

For Appellant: Shri D. G. Pansari, DRFor Respondent: Shri Nitesh Joshi, AR
Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI G. MANJUNATHA, AM आयकरअपीलसं./ I.T.A. No. 6691/Mum/2017 (निर्धारणवर्ा / Assessment Year:2009-10) In the matter of: ITO 4(2)(4) M/s Mayuresh R. No. 647, 6th floor, Aayakar Logistics Pvt. Ltd. बिधम/ 428, Abhay House, 2nd Bhavan, M. K. Road, Vs. Mumbai-400 020 floor, Kalbidevi Road, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AAFCM3536M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : C.O. No. 47/Mum/2019 (निर्धारणवर्ा / Assessment Year: 2009-10) M/s Mayuresh Logistics Pvt. Ltd. ITO 4(2)(4) 428, Abhay…

DCIT, New Delhi vs. M/S. Bhaijee Commodities Pvt. Ltd., New Delhi

In the result, the Appeal of the Revenue stands dismissed

ITA 5323/DEL/2015[2012-13]Status: DisposedITAT Delhi13 Jun 2019AY 2012-13

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumaray 2012-13

For Appellant: Sh. R.S. Singhvi, Adv. &For Respondent: Sh. N.K. Bansal, Sr. DR
Section 131Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 14ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER AY 2012-13 DCIT, CIRCLE 4(2), VS. BHAIJEE COMMODITIES PVT. LTD. NEW DELHI AG-402, SHALIMAR BAGH, NEW DELHI (PAN: AAACB8905G) (APPELLANT) (RESPONDENT) Department by : Sh. N.K. Bansal, Sr. DR. Assessee by : Sh. R.S. Singhvi, Adv. & Sh. Satyajeet Goyal, Adv. ORDER PER H.S. SIDHU, JM The Revenue has filed this appeal against the order dated 29.5.2015 of the Ld. CIT(A)-2, New Delhi in respect of assessment year 2012-13 on the following grounds:- 1. On the facts and i…