CIT v. Divine Leasing & Finance Ltd.

ACIT CC 6(4), Mumbai vs. Arshiya Ltd, Mumbai

In the result the ground of appeal raised by the

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhacit, Cc-6(4), M/S Arshiya Ltd. Room No. 32(1), Ground 308, Level 3, Ceejay House, Vs. Floor, Aayakar Bhavan, F Block, Shiv Sagar Estate, M.K. Road, Dr. A.B. Road, Worli, Mumbai-400020 Mumbai-400018. Pan: Aaaci2679A Appellant Respondent Dcit Cc-6(4), M/S Arshiya International Ltd. Room No. 32(1), Ground 7Th Floor, Twin Arcade, Vs. Floor, Aayakar Bhavan, C Wing, Military Road, M.K. Road, Marol Maroshi, Andheri (E), Mumbai-400020 Mumbai-400059. Pan: Aaaci2679A Appellant Respondent M/S Arshiya Ltd. [Formerly Dcit Cc-6(4), Known As Arshiya International Room No. 32(1), Ground Vs. Ltd.] 3021, Ceejay House, Floor, Aayakar Bhavan, Level-3, Shiv Sagar Estate, M.K. Road, F-Block, Dr. A.B. Road, Mumbai-400020 Worli, Mumbai-400018. Pan: Aaaci2679A Appellant Respondent M/S Arshiya Ltd. [Formerly Dcit Cc-6(4), Known As Arshiya International Room No. 32(1), Ground Vs. Ltd.] 3021, Ceejay House, Floor, Aayakar Bhavan, Level-3, Shiv Sagar Estate, M.K. Road, F-Block, Dr. A.B. Road, Mumbai-400020 Worli, Mumbai-400018. M/S Arshiya International Ltd.

…IN THE INCOME-TAX APPELLATE TRIBUNAL “K” BENCH MUMBAI BEFORE SHRI G.S. PANNU, VICE-PRESIDENT AND SHRI PAWAN SINGH, JUDICIAL MEMBER ACIT, CC-6(4), M/s Arshiya Ltd. Room No. 32(1), Ground 308, Level 3, Ceejay House, Vs. Floor, Aayakar Bhavan, F Block, Shiv Sagar Estate, M.K. Road, Dr. A.B. Road, Worli, Mumbai-400020 Mumbai-400018. PAN: AAACI2679A Appellant Respondent DCIT CC-6(4), M/s Arshiya International Ltd. Room No. 32(1), Ground 7th Floor, Twin Arcade, Vs. Floor, Aayakar Bhavan, C Wing, Military Road, M.K. Road, Marol Maroshi, Andheri (E), Mumbai-400020 Mumbai-400059. PAN: AAACI2679A Appellant Respondent M/s…

Income Tax Officer-4(2)(4), Mumbai vs. Mamta Glod Private Limited (Earlier Known As Praveen Jewelers Private Limited ), Mumbai

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

…THE INCOME TAX APPELLATE TRIBUNAL “D” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) I.T.A. No. 7006/Mum/2017 (Assessment Year 2006-07) I.T.A. No. 7005/Mum/2017 (Assessment Year 2010-11) ITO-4(2)(4) M/s. Mamta Gold Pvt. Ltd. Vs. Room No. 647 (Earlier known as Praveen 6th Floor Jewellers Pvt.Ltd.) Aayakar Bhavan 207, 2nd Floor M.K. Road Purshottam Niwas Mumbai-400 020. 31, Dadiseth Agiary Lane Kalbadevi Road PAN : Mumbai-400 002. PAN : AADCP5748G (Appellant) (Respondent) Assessee by Shri Vimal Punmiya Department by Shri R. Sindhu Date of Hearing 13.5.2019 Date of Pronouncement 18.7.201…

ITO 15(2)(2), Mumbai vs. Luxtra Realtors P.Ltd, Mumbai

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm Ito-15(2)(2), Mumbai Vs. M/S. Luxora Realtors Pvt.Ltd., Room No.802, 8Th Floor Soham House, Hari Om Nagar Old Cgo Building Off. Eastern Express Highway M.K.Road, Near Checknaka Mumbai – 400 020 Mulund (E), Mumbai- 400081 Pan/Gir No.Aabco3197J (Appellant) .. (Respondent)

…hivdhooti Pearls and Investment Ltd. reported in 64 Taxman 329. b. Hon’ble Delhi High court in the case of Mod Creations (P) Ltd., vs. ITO reported in 354 ITR 282. c. Hon’ble Delhi High Court in the case of CIT vs. Divine Leasing and Finance Ltd., reported in 299 ITR 268. d. Hon’ble Supreme Court in the case of CIT vs. Lovely Exports (P) Ltd., reported in 216 CTR 195 (SC) 3.4. The ld. CIT(A) further observed as under:- 2.4.7 If above referred principles are applied to the facts and circumstances of the case under consideration, it becomes absolutely clear that the appellant had discharged its onus and burden of…

M/S.Geetanjali Space Private Limited, Mumbai vs. Dy. CIT CC-1(1), Mumbai

In the result, the appeal of the assessee is allowed and that of the Revenue is dismissed

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

…ditworthiness of the shareholder if the assessee has given names and addresses of the shareholder to the AO. The assessee relied upon the following decisions in defense of his arguments:- “1. SLP rejected by Supreme Court on Lovely Exports Pvt. Ltd. 319 ITR 5 299 ITR 268 2. SLP rejected by Supreme Court on Chain House International (P) Ltd. 103 taxmann.com 435 & 98 taxmann.com 47 3. Principal Commissioner of Income Tax, Panji v/s Paradise Inland Shipping (P.) Ltd 84 Taxmann.com 58 4. Commr. Of Income tax v/s Creative World Telefilms Ltd. 333 ITR 100 48 ITA No.782/M/2019 & ITA No.1969/M/2019 M/s. Geetanjali Space…

Income Tax Officer-16(1)(5), Mumbai vs. M/S.Re N Raga Media Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Bleincome Tax Officer - 16(1)(5) V. M/S. Re N Raga Media Pvt. Ltd., Room No. 439, 4Th Floor Bungalow No. A/8, Svp Nagar Aayakar Bhavan, M.K. Road, Nr. Mhada Telephone Exchange, Mumbai-400 020 Andheri (W), Mumbai – 400 053

…onclusion that the Respondent had discharged the burden that lay on it, then it could not be said that such a conclusion was unreasonable or perverse or based on no evidence". 16. Hon'ble Delhi High Court in the case of CIT v. Divine Leasing & Finance Ltd. [299 ITR 268] in para nos. 13 & 16 has held as under: "13. There cannot be two opinions on the aspect that the pernicious practice of conversion of unaccounted money through the masquerade or channel of investment in the share capital of a company must be firmly excoriated by the revenue. Equally, where the preponderance of evidence indicates absence of culp…

I.T.O. - 3(1)(3), Mumbai vs. Cosmos Realtors Pvt. Ltd., Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri G Manjunatha () & Shri Ravish Sood () Ito, 3(1)(3), Mumbai Vs M/S Cosmos Realtors Pvt Ltd 112, Makers Chambers-Iii Nariman Point, Mumbai- 400 021 Pan : Aaccc6177F Appellant Respondednt

…1 ITA 7150/Mum/2017 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI Before Shri G Manjunatha (ACCOUNTANT MEMBER) AND Shri Ravish Sood (JUDICIAL MEMBER) ITO, 3(1)(3), Mumbai vs M/s Cosmos Realtors Pvt Ltd 112, Makers Chambers-III Nariman Point, Mumbai- 400 021 PAN : AACCC6177F APPELLANT RESPONDEDNT Appellant by Shri K.L. Kanak Respondent by Shri Vimal Punmiya Date of hearing 28-01-2019 Date of pronouncement 12-04-2019 O R D E R Per G Manjunatha, AM : This appeal filed by the revenue is directed against order of the CIT(A)-8, Mumbai dated 26-09-2017 and it pertains to AY 2006-07. The revenue h…

ITO 7(1)(3), Mumbai vs. Homeshine Properties P.Ltd, Mumbai

Bench: Hon’Ble Sh. Sandeep Gosain, Jm & Hon’Ble Sh. N. K. Pradhan, Am आयकरअपीलसं./ I.T.A. No. 2231/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2009-10)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE HON’BLE SH. SANDEEP GOSAIN, JM & HON’BLE SH. N. K. PRADHAN, AM आयकरअपीलसं./ I.T.A. No. 2231/Mum/2017 (निर्धारणवर्ा / Assessment Year: 2009-10) M/s Homeshine Properties ITO 7(1)(3), Pvt. Ltd. R. no. 11, Ground Floor, बिधम/ 6/603, Mantri Corner, Aayakar Bhavan, M. K. Vs. Sayani road Dadar (w), road, Mumbai-400 020 Mumbai-400028 स्थायीलेखासं./जीआइआरसं./ PAN No. AACCH)443D (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Rajeev K. Gubgotra, Sr. DR by प्रत्यथीकीओरसे/Respondentby : Shri G. C. Lalka, AR सुनवाईकीतारीख/ : 29.03.201…