CIT v. Five Vision Promoters (P.) Ltd.

380 ITR 289High Court2016#1876 most cited

What is CIT v. Five Vision Promoters (P.) Ltd. authority for?

Section 68 of the Income Tax Act can be invoked to make an addition only when the assessee offers no explanation for a cash credit or the explanation provided is unsatisfactory. An addition for share application money is not justified if the Revenue has no material to dispute the genuineness or creditworthiness of the investors or the source of money.

61

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Five Vision Promoters (P.) Ltd. · 380 ITR 289 · Section 68 · share application money · addition under Section 68 · unexplained cash credits · genuineness of transaction · creditworthiness · source of funds · burden of proof · Section 143(3) assessment

Also reported as

65 Taxmann.com 71236 Taxmann 502

Sections most often in play

Section 68Section 132Section 133(6)Section 143(3)Section 153ASection 153CSection 36(1)(iii)Section 39 of the Companies Act
Read the full judgment

Issues it is cited on

share application moneyaddition u/s 68accommodation entrygenuineness of the transactionsection 68personcompanyindiabusinessdocument

Judgments citing CIT v. Five Vision Promoters (P.) Ltd.

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 91/GTY/2017[2006-07]Status: DisposedITAT Guwahati06 Sept 2019AY 2006-07

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 77/GTY/2017[2013-14]Status: DisposedITAT Guwahati06 Sept 2019AY 2013-14

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 76/GTY/2017[2012-13]Status: DisposedITAT Guwahati06 Sept 2019AY 2012-13

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 69/GTY/2017[2007-08]Status: DisposedITAT Guwahati06 Sept 2019AY 2007-08

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Jud Cement Limited, Shillong vs. Assistant Commissioner of Income, Circle - Shillong, Shillong

Appeals are allowed in view of our foregoing detailed discussions

ITA 40/GTY/2017[2008-09]Status: DisposedITAT Guwahati06 Sept 2019AY 2008-09

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Jud Cement Limited, Shillong vs. Assistant Commissioner of Income, Circle - Shillong, Shillong

Appeals are allowed in view of our foregoing detailed discussions

ITA 39/GTY/2017[2006-07]Status: DisposedITAT Guwahati06 Sept 2019AY 2006-07

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

Section 143(3)Section 147Section 68Section 80l

…. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Cement Ltd. v. ACIT Cir-Shill. Page 11 In view of the above also, the addition…

Deputy Commissioner of Income Tax, Circle- 3, Guwahati vs. M/S. Satyam Ispat (North East) Limited, Banderdewa

Appeals are dismissed

ITA 84/GTY/2017[2007-08]Status: DisposedITAT Guwahati02 Aug 2019AY 2007-08

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

Section 143(3)Section 153A

…V/s. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) In view of the above also, the addition made in respect of share capital and share premium cannot be sustained. This ground of appeal is, therefore, allowed.” 3. Learned departmental repre…

Deputy Commissioner of Income Tax, Circle- 3, Guwahati vs. M/S. Satyam Ispat (North East) Limited, Banderdewa

Appeals are dismissed

ITA 83/GTY/2017[2006-07]Status: DisposedITAT Guwahati02 Aug 2019AY 2006-07

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

Section 143(3)Section 153A

…V/s. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) In view of the above also, the addition made in respect of share capital and share premium cannot be sustained. This ground of appeal is, therefore, allowed.” 3. Learned departmental repre…

Stryton Exim India P.Ltd, New Delhi vs. ITO, Ward-24(2), New Delhi

In the result appeal filed by the assessee is allowed for statistical purposes

ITA 5982/DEL/2018[2014-15]Status: DisposedITAT Delhi23 Oct 2018AY 2014-15

Bench: Shri Kuldip Singh & Shri Prashant Maharishisa No. 665/Del/2018 (In Ita No. 5982/Del/2018) (Assessment Year: 2014-15) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent)

For Appellant: Shri Rahul Khare, AdvFor Respondent: Shri K Tewari, Sr. DR
Section 56(2)(viib)Section 68

…ing, addition cannot be made u/s 68 in the hands the assessee. (vi) The Department is free to reopen the individual assessment in case of alleged bogus shareholders in accordance with law and, thus, not remedy- less. CIT vs FIVE VISION PROMOTERS PVT.LTD, DHC, 380 ITR 289 (Delhi) Coming to the core issue concerning the identity, creditworthiness and genuineness of the investor companies, it is seen that as far as the Table I investors were concerned, only 9 were searched and in their cases, the ITAT on a very detailed examination was satisfied that they not only existed, but that the Assessee had discharged the pr…

Gumpro Drilling Fluids Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 15, Mumbai

The appeal of the assessee is dismissed

ITA 2868/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Oct 2018AY 2013-14

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2013-14 Gumpro Drilling Fluids Vs Pr. Cit-15, Private Limited, Room No.517, 5Th Floor, Opp. Karma Stambha, Aayakar Bhavan, Hazarat Compound, Lbs M. K. Road, Marg, Vikhroli (West), Mumbai-400020 Mumbai-400083 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aadcg2319N "नधा"रती क" ओर से / Assessee By Shri Ashok J. Patil राज"व क" ओर से / Revenue By Shri L.K.S. Dahiya Cit-Dr

Section 120Section 144ASection 263Section 35

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), 18 xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (pa…

Manoir Petro India Ltd, Mumbai vs. Pr CIT 1, Mumbai

ITA 2626/MUM/2015[2010-11]Status: DisposedITAT Mumbai12 Jul 2018AY 2010-11

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 Manoir Petro India Limited, Pr. Cit-1 602, B-Wing, Universal Room No.387, बनाम/ Business Park, Chandivali 3Rd Floor, Vs. Farm Road, Off Saki Vihar Aayakar Bhavan, Road, Andheri (East), M. K. Road, Mumbai-400072 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aafcm5210J

Section 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), 20 Manoir Petro India Limited ITA No.2626/Mum/2015 & C.O. No.95/Mum/2015 xxv. CIT v. Leisure Wear Exports (P.) Ltd.…

ITO, New Delhi vs. M/S. Xo Infotech Ltd., Ahmedabad

In the result, Appeal of the Department is

ITA 3342/DEL/2013[2009-10]Status: DisposedITAT Delhi09 Jul 2018AY 2009-10

Bench: Sh.Bhavnesh Saini & Sh. L.P.Sahu[Assessment Year: 2009-10] Xo Infotech Ltd., The Income Tax Officer, (Now Known As M/S. Saral Mining Ltd.), 304, Saffron Vs. Ward-7(3), Room No.306, Building, Panchvati To Ambawadi Road, Ambawadi C.R.Building, New Delhi. Ellisbeidge,Ahmedabad- 380006.Pan-Aaaxx0059K (Appellant) (Respondent) By Revenue : Shri Vijay Varma, Cit-D.R. By Assessee : Shri S.R. Wadhwa, Advocate Date Of Hearing : 07.06.2018 Date Of Pronouncement : 09.07.2018

For Appellant: Shri S.R. Wadhwa, AdvocateFor Respondent: Shri Vijay Varma, CIT-D.R
Section 133(6)Section 143(2)Section 68

…application money when substantial evidence was produced by the assessee to establish the identity of share applicant.” 9.5. Judgment of Hon’ble jurisdictional Delhi High Court in the case of CIT & Ors. Vs. Five Vision Promoters Pvt. Ltd., & Ors. (2016) 380 ITR 289 (Del.) in which it was held as under : “Provisions of s 68 can be invoked only where assessee offers no explanation at all or explanation offered is unsatisfactory; and addition thereunder can be made only on that condition.” ITA No.3342/Del/2013 XO Infotech Ltd., Ahmedabad. 9.6. Judgment of Hon’ble jurisdictional Delhi High Court in the ca…

Saigal Sea Trade, Mumbai vs. CIT -18, Mumbai

The appeal of the assessee is dismissed

ITA 2511/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 May 2018AY 2009-10

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2009-10 M/S Saigal Sea Trade, Cit-18, J.V. House, 02Nd Floor, D.S. Piramal Chambers, बनाम/ Babrekar Marg, Dadar (West), Mumbai Vs. Mumbai-400028 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aaafs6920K

Section 142(1)Section 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Gautam Tube Corporation, Mumbai vs. Pr CIT 19, Mumbai

The appeals are disposed of in the above terms

ITA 3609/MUM/2017[2009-10]Status: DisposedITAT Mumbai26 Apr 2018AY 2009-10

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 120Section 143(3)Section 144ASection 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Gautam Tube Corporation, Mumbai vs. Pr CIT 19, Mumbai

The appeals are disposed of in the above terms

ITA 3608/MUM/2017[2008-09]Status: DisposedITAT Mumbai25 Apr 2018AY 2008-09

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 120Section 143(3)Section 144ASection 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Mumbai District Central Co Op Bank Ltd, Mumbai vs. CIT 1(1), Mumbai

The appeals are disposed of in the above terms

ITA 3198/MUM/2015[2010-11]Status: DisposedITAT Mumbai22 Mar 2018AY 2010-11

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 The Mumbai District Cit-1, Aayakar Bhavan बनाम/ Central Co-Op. Bank Ltd. M.K. Road, Mumbai Bank Bhavan Mumbai 400 020 Vs. 207, D.H. Road, Fort Mumbai 400 001 (यनधाारयती /Assessee) (याजस्व /Revenue) P.A. No. Aaaam3185D यनधाारयती की ओर से / Assessee By Shri Amar Gahlot याजस्व की ओर से / Revenue By Shri B. Srinivas, Cit-Dr ुनवाई की तायीख / Date Of Hearing : 22/03/2018 आदेश की तायीख /Date Of Order: 22/03/2018

Section 143(1)Section 143(2)Section 143(3)Section 263

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ, जे, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “J”, MUMBAI श्री जोगगन्दय स िंह, न्मायमक दस्म एवुं श्री एन. के. प्रधान, रेखा दस्म, के भक्ष Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member Assessment Year: 2010-11 The Mumbai District CIT-1, Aayakar Bhavan बनाम/ Central Co-op. Bank Ltd. M.K. Road, Mumbai Bank Bhavan Mumbai 400 020 Vs. 207, D.H. Road, Fort Mumbai 400 001 (यनधाारयती /Assessee) (याजस्व /Revenue) P.A. No. AAAAM3185D यनधाारयती की ओर से / Assessee by Shri Amar Gahlot याजस्व की ओर से / Revenue by Shri B. Srinivas, C…

Startech Engineers, Mumbai vs. Pr CIT 22, Mumbai

The appeals are disposed of in the above terms

ITA 3898/MUM/2017[2012-13]Status: DisposedITAT Mumbai01 Feb 2018AY 2012-13

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2012-13 Startech Engineers, Pr. Commissioner Of G-12, Sinhgarjane Soc. Income Tax-22, बनाम/ Maratha Colony, Room No.409, 4Th Floor, Vs. Santracruz (E), Piramal Chambers, Parel Mumbai-400055 Mumbai-400012 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aaxfs3063J "नधा"रती क" ओर से / Assessee By Shri D.C.Saboo & Shri Shyam Saboo राज"व क" ओर से / Revenue By Shri Manjunatha Swamy-Dr

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Dev Steel, Navi Mumbai vs. Pr CIT Cen 4, Navi Mumbai

The appeals are dismissed

ITA 3752/MUM/2016[2009-10]Status: DisposedITAT Mumbai24 Nov 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2008-09 Shri Devang Gandhi, Pr. Cit, A/303, Balaji Gardens, Central-4, बनाम/ Sector-11, Koparkhairne, Mumbai Vs. Navi Mumbai-400709 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Abhpg0909N

Section 153ASection 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Dev Steel, Navi Mumbai vs. Pr CIT Cen 4, Navi Mumbai

The appeals are dismissed

ITA 3748/MUM/2016[2006-07]Status: DisposedITAT Mumbai24 Nov 2017AY 2006-07

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2008-09 Shri Devang Gandhi, Pr. Cit, A/303, Balaji Gardens, Central-4, बनाम/ Sector-11, Koparkhairne, Mumbai Vs. Navi Mumbai-400709 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Abhpg0909N

Section 153ASection 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…

Devang Gandhi, Navi Mumbai vs. Pr CIT Cen 4, Mumbai

The appeals are dismissed

ITA 3747/MUM/2016[2008-09]Status: DisposedITAT Mumbai24 Nov 2017AY 2008-09

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2008-09 Shri Devang Gandhi, Pr. Cit, A/303, Balaji Gardens, Central-4, बनाम/ Sector-11, Koparkhairne, Mumbai Vs. Navi Mumbai-400709 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Abhpg0909N

Section 153ASection 263

…50 (Delhi) (paras 9, 10), xx. Zafa Ahmad & Co. v. CIT [2013] 214 Taxman 440/30 taxmann.com 267 (All.) (paras 9, 10), xxi. Anil Rice Mills v. CIT [2006] 282 ITR 236/[2005] 149 Taxman 313 (All.) (paras 9, 10), xxii. CIT v. Five Vision Promoters (P.) Ltd. [2016] 380 ITR 289/236 Taxman 502/65 taxmann.com 71 (Delhi) (para 11), xxiii. CIT v. Gabriel India Ltd. [1993] 203 ITR 108/71 Taxman 585 (Bom.) (para 12), xxiv. Hari Iron Trading Co. v. CIT [2003] 263 ITR 437/131 Taxman 535 (Punj. & Har.) (para 12), xxv. CIT v. Leisure Wear Exports (P.) Ltd. [2012] 341 ITR 166/[2011] 202 Taxman 130/11 taxmann.com 54 (Delhi) (para 1…