How many judgments cite CIT v. Gagandeep Infrastructure (P.) Ltd.?

303 judgments on BharatTax cite CIT v. Gagandeep Infrastructure (P.) Ltd. (394 ITR 680), spanning 2017 to 2026.

Which sections of the Income Tax Act does CIT v. Gagandeep Infrastructure (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 68, Section 143(3), Section 131, Section 148, Section 142(1), Section 147.

CIT v. Gagandeep Infrastructure (P.) Ltd.

394 ITR 680High Court2017#259 most cited

What is CIT v. Gagandeep Infrastructure (P.) Ltd. authority for?

Under Section 68, an assessee is only required to prove the identity and creditworthiness of the immediate creditor or share subscriber and the genuineness of the transaction. The assessee is not obligated to establish the 'source of the source' of funds or the creditworthiness of sub-lenders, as this information may not be within the assessee's special knowledge.

303

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2026.

Also referred to as

CIT v. Gagandeep Infrastructure (P.) Ltd. · Gagandeep Infrastructure · 394 ITR 680 · Section 68 · unexplained cash credit · source of source · share capital · share premium · creditworthiness · genuineness of transaction · assessee's onus · burden of proof

Also reported as

80 Taxmann.com 272247 Taxmann 245

Sections most often in play

Section 68 Section 143(3)Section 131 Section 148 Section 142(1)Section 147 Section 133(6)Section 143(2)

Issues it is cited on

source of source share capital and share premium creditworthiness of the creditor summons under section 131 share application money permanent account number section 56(2)(viib)paper company addition under section 68 genuineness of the transaction addition u/s 68 unexplained cash credit

Judgments citing CIT v. Gagandeep Infrastructure (P.) Ltd.

ACIT, Central Circle-1, Patna vs. Sonamoti Agrotech Pvt Ltd, Patna

ITA 110/PAT/2019[2012-13]Status: DisposedITAT Patna23 Feb 2023AY 2012-13

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 132Section 143(2)Section 153ASection 68

…ITA No. 110/PAT/2019 Assessment Year: 2012-2013 & C.O. No. 04/PAT/2022 (in ITA No. 110/PAT/2019) Assessment Year: 2012-2013 Sonamoti Agrotech Pvt. Limited IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA-PATNA‘e-COURT’, KOLKATA [Virtual Court Hearing] Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Rajesh Kumar, Accountant Member I.T.A. No. 110/PAT/2019 Assessment Year: 2012-2013 Assistant Commissioner of Income Tax,...... Appellant Central Circle-1, Patna -Vs.- Sonamoti Agrotech Pvt. Limited,..............Respondent 603. Ashiana Plaza, Budh Marg, Patna, Bihar [PAN:AAOCS1201L] & C.O. No. 04/PAT/2022…

M/S. Dwarka Goods Pvt. Ltd., Kolkata vs. I.T.O., Ward-1(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 524/KOL/2022[2016-2017]Status: DisposedITAT Kolkata07 Feb 2023AY 2016-2017

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 133(6)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘SMC’, KOLKATA [Before Dr. Manish Borad, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 524/Kol/2022 Assessment Year : 2016-17 M/s. Dwarka Goods Private Limited vs ITO, Ward-1(1), Kolkata PAN: AADCD 1402 B Appellant Respondent Date of Hearing 08.12.2022 Date of Pronouncement 07.02.2023 For the Assessee Shri Sunil Surana, AR For the Revenue Shri P.P. Barman, Addl. CIT ORDER Per Sonjoy Sarma, JM: The present appeal has been preferred by the assessee against the order dated 29.07.2022 of the National Faceless Appeal Centre [hereinafter referr…

Jvr Retails Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle -2(1), Hyderabad

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

ITA 175/HYD/2021[2012-13]Status: DisposedITAT Hyderabad31 Jan 2023AY 2012-13

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Charyassessment Year: 2012-13 Jvr Retails Private Limited Vs Dcit, Circle-2(1) C/O. Murali & Co. . Hyderabad Chartered Accountants 6-3-655/2/3, Somajiguda Hyderabad-500 082 Pan : Aaccv9428J (Appellant) (Respondent) Assessee By: Shri M.V.Joshi Appeared For P.Murali Mohan Rao, Ca Revenue By: Shri Jeevan Lal Lavidiya, Cit-Dr Date Of Hearing: 14.01.2023 Date Of Pronouncement: 31.01.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.03.2021 Passed U/S. 263 By The Learned Principal Commissioner Of Income Tax -2, Hyderabad Relating To A Y 2012-13. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Domestic Company Engaged In The Business Of Retails & Manufacturing Of Jewelry. It Filed Its Return Of Income Declaring Total Income Of Rs. 49,97,390/- On 08.09.2012 Which Was Processed U/S 143(1) On 21.02.2013. Subsequently, The Ao Reopened The Assessment By Recording Reasons As Per Provisions Of Section 147. The Reasons To Believe Which Was Put Up Before The Ld.Pcit-2 For Approval & Which Has Been Reproduced By The Ao In The Body Of The Assessment Order Read As Under:-

For Appellant: Shri M.V.Joshi appeared for P.Murali Mohan Rao, CAFor Respondent: Shri Jeevan Lal

Section 143(1)Section 143(3)Section 147Section 148Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Rama Kanta Panda, Accountant Member AND Shri K.Narasimha Chary, Judicial Member Assessment Year: 2012-13 JVR Retails Private Limited Vs DCIT, Circle-2(1) C/o. Murali & Co. . Hyderabad Chartered Accountants 6-3-655/2/3, Somajiguda Hyderabad-500 082 PAN : AACCV9428J (Appellant) (Respondent) Assessee by: Shri M.V.Joshi appeared for P.Murali Mohan Rao, CA Revenue by: Shri Jeevan Lal Lavidiya, CIT-DR Date of hearing: 14.01.2023 Date of pronouncement: 31.01.2023 O R D E R Per Shri Rama Kanta Panda (A.M.): This appeal filed by the assessee…

Direct Media Distribution Ventures Pvt. Ltd., Mumbai vs. ITO, RG-6(2)(3)(Present in Charge Acir-RG-6(2)(2), Mumbai

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

ITA 3084/MUM/2018[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution Of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./Pan No. Aadcd1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) :

For Appellant: Mr. Jay BhansaliFor Respondent: Shri. Madhur Agrawal & Manoj

Section 143(3)Section 14ASection 47Section 56(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JM & SHRI S. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No.2715/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) The Assistant Commissioner Direct Media Distribution of Income Tax 6(2)(2), Ventures Pvt. Ltd. बिधम/ Mumbai 135, Continental Building, Vs. Aayakar Bhavan, M.K.Road, Annie Besant Road, Worli, Churchgate, Mumbai-400 020 Mumbai-400 048 स्थायीलेखासं./जीआइआरसं./PAN No. AADCD1940Q (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : आयकरअपीलसं./ I.T.A. No.3084/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13) Direct Media Distribu…

ACIT - Circle- 6(2)(2), Mumbai vs. Direct Media Distribution Ventures Pvt. Ltd., Mumbai

In the result, appeal of the revenue dismissed and appeal of the assessee is also dismissed

ITA 2715/MUM/2018[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

For Appellant: Mr. Jay BhansaliFor Respondent: Shri. Madhur Agrawal & Manoj

Section 143(3)Section 14ASection 47Section 56(1)Section 68

DCIT, Circle-2(1)(1), Surat vs. M/S. R K Shah Projects Pvt. Ltd, Surat

In the result, ground no.2 raised by the Revenue is allowed for statistical purposes

ITA 55/SRT/2020[2013-14]Status: DisposedITAT Surat31 Jan 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.55/Srt/2020 (िनधा"रण वष" / Assessment Year: (2013-14) (Physical Court Hearing) Deputy Commissioner Of Income M/S R.K.Shah Projects Pvt. Ltd., 1St Floor, Aditya Complex, Nr. Tax., Circle-2(1)(1), Room No.216, Vs. Kapadia Health Club, Bhatar Road, 2Nd Floor, Aayakar Bhavan, Majura Surat-395007 Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcr 8584 Q (Appellant ) (Respondent)

For Appellant: Shri Sapnesh R Seth, C.AFor Respondent: Shri Ashok B. Koli– CIT-DR

Section 143(3)Section 68

…0 DTR 18 (Guj.) (iv) CIT vs Ujala Dyeing and Pringins Mills P. Ltd. (Guj.) (v) Earthmetal Electricals Pvt. Ltd. vs CIT (SC) (vi) CIT vs Jalan Hard Coke Ltd., 95 taxmann.com 331 (SC) & 98 taxmann.com 330 (Raj.) (vii) CIT vs Gangandeep Infrastructure Pvt. Ltd., 394 ITR 680 (Bom.) (viii) CIT vs Himatsu Bimet Ltd., 12 taxmann.com 87 (Guj.) (ix) DCIT vs Rohini Builders, 182 CTR 373 (Guj.) (x) ITO vs Narmada Thermal Power Ltd. (Surat Trib.) (xi) DCIT vs Ellsons Developers Pvt. Ltd. (Surat Trib.) Therefore, Ld. Counsel contended that assessee has explained the identity, creditworthiness and genuineness of the share capi…

Nav Consec P.Ltd, Mumbai vs. ITO 9(2)(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 3258/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Jan 2023AY 2011-12

Bench: Shri Aby T. Varkey, Jm & Shri. Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/O Sanjay Shah, 108, 1St Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcn1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Anil Surana, Ca (Written Submission) Assessee By: Dr Mahesh Akhade, Cit Dr

For Appellant: Dr Mahesh Akhade, CIT DRFor Respondent: Shri Anil Surana, CA (written

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI. GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. No.3258/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/s Nav Consec Pvt Ltd बिधम/ Income Tax Officer, Ward 9(2)(3) Mumbai. Vs. C/o Sanjay Shah, 108, 1st Floor Sujata Niketan, Rani Sati Marg Malad East, Mumbai-400097 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCN1435A (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Anil Surana, CA (written Submission) Assessee by: Dr Mahesh Akhade, CIT DR सुनवाई की तारीख / Date of Hearing: 21/11/2022 घोषणा की तारीख /Date of…

M/S Starland Vinimay Pvt. Ltd, Kolkata vs. ITO, Ward-2(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 574/KOL/2020[2012-13]Status: DisposedITAT Kolkata24 Jan 2023AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 143(2)Section 143(3)Section 250Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘B’, KOLKATA [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 574/Kol/2020 Assessment Year : 2012-13 M/s. Starland Vinimay Private Vs. ITO, Ward-2(1), Kolkata Limited (PAN: AAQCS 6066 H) Appellant Respondent Date of Hearing 30.11.2022 Date of Pronouncement 24.01.2023 For the Assessee Shri Anil Kochar, Advocate & Shri S.L. Kochar, Advocate For the Revenue Smt. Ranu Biswas, Addl. CIT/DR ORDER Per Shri Sonjoy Sarma, JM: This appeal by the assessee pertaining to assessment year 2012-13 is directed against the order p…

DCIT, Cir. -11(1), Kolkata vs. M/S Iris Health Services Ltd., Kolkata

In the result, the appeal of the Revenue and the cross-objection of the assessee are hereby dismissed

ITA 233/KOL/2021[2012-13]Status: DisposedITAT Kolkata02 Jan 2023AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.233/Kol/2021 Assessment Year: 2012-13 Dcit, Circle-11(1), Kolkata...………….........…..................….…… Appellant Vs. M/S Iris Health Services Ltd...…..……...…........…...…...…..…..... Respondent 82/1, Raja Subodh Ch. Mullick Road, Kolkata-700047. [Pan: Aabci8499M] Co No.18/Kol/2021 (Arising Out Of Ita 233/Kol/2021) Assessment Year: 2012-13 M/S Iris Health Services Ltd...…..……...…........…...…...…..…..... Cross-Objector 82/1, Raja Subodh Ch. Mullick Road, Kolkata-700047. [Pan: Aabci8499M] Vs. Dcit, Circle-11(1), Kolkata...………….........…..................….…… Respondent Appearances By: Shri Sunil Surana, Ar, Appeared On Behalf Of The Assessee. Shri D.K. Sonawal, Cit-Dr, Appeared On Behalf Of The Revenue. Date Of Concluding The Hearing : November 24, 2022 Date Of Pronouncing The Order : January 02, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue & Cross-Objection By The Assessee Against The Order Dated 24.09.2020 Of The Commissioner Of Income Tax (Appeals)-4, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’).

Section 131Section 250Section 68

…-14. The issue is covered by the judgment of Hon’ble Jurisdictional ITAT in the case of Bidit Financial Management in ITA No.579/Kol/2017 pronounced on 15.03.2019 which has followed Hon’ble Bombay High Court in the case of Gagandeep Infrastructure reported in 394 ITR 680. The Ld. A.O has further relied on the judgment of the Apex Court in NRA Iron Steel Pvt. Ltd. However, the said judgment is not applicable. In view of the fact that in the said case none of the shareholders were traceable at the given address nor they had any creditworthiness. In fact, the finding is that even their identity could not be proved.…

DCIT, Central Circle-2, Surat vs. Dhanpriya Prints Pvt. Ltd., Surat

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

ITA 52/SRT/2022[2015-16]Status: DisposedITAT Surat23 Dec 2022AY 2015-16

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rasesh Shah, CAFor Respondent: Sr. DR

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, HON'BLE JUDICIAL MEMBER AND DR. A. L. SAINI, HON'BLE ACCOUNTNAT MEMBER (Physical Court Hearing) Sl. ITA No. Asst. Name of Assessee Name of Respondent No. Year 1. 52/SRT/2022 2015-16 The DCIT, Central Circle-2, M/s. Dhanpriya Prints Pvt. Ltd., Surat. Plot No.13, Block No.320-21, Vill. Vankane, B/h. Garden Vareli Mill, Tal. Palsana, Surat-394237. PAN: AABCD9653L 2. 171/SRT/2021 2008-09 Betex India Ltd., The DCIT, Central Circle-2, 436, GIDC, Pandesara, Surat. Surat-394221. PAN: AABCB2413L 3. 174/SRT/2021 2008-09 The DCIT, Central Cric…

Dy. Commissioner of Income Tax, Central Circle-2, Surat vs. Betex India Limited, Surat

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

ITA 174/SRT/2021[2008-9]Status: DisposedITAT Surat23 Dec 2022

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rasesh Shah, CAFor Respondent: Sr. DR

Section 143(3)

Betex India Limited, Surat vs. Dy. Commissioner of Income Tax, Central Circle-2, Surat

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

ITA 171/SRT/2021[2008-09]Status: DisposedITAT Surat23 Dec 2022AY 2008-09

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

For Appellant: Shri Rasesh Shah, CAFor Respondent: Sr. DR

Section 143(3)

Toplink Developers Consultancy Pvt. Ltd., Kolkata vs. I.T.O., Ward-3(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 710/KOL/2019[2012-13]Status: DisposedITAT Kolkata20 Dec 2022AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(2)Section 143(3)Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 710/Kol/2019 Assessment Year: 2012-13 Toplink Developers Consultancy Pvt. Ltd......………Appellant [PAN: AADCT 5284 F] Vs. ITO, Ward-3(3), Kolkata........................................Respondent Appearances by: Sh. Siddharth Agarwal, Adv., appeared on behalf of the Assessee. Sh. P.P. Barman, Addl. CIT, appeared on behalf of the Revenue. Date of concl…

DCIT Central Circle-2(2), Mumbai vs. M/S Suchir Chemicals Pvt Ltd, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 677/MUM/2022[2010-11]Status: DisposedITAT Mumbai20 Dec 2022AY 2010-11

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit –Central Circle – 2(2) V. M/S. Suchir Chemicals Pvt. Ltd., Old Cgo Building (Amalgamated Company – Manan Pharma Pvt Ltd. W.E.F 01.04.2013) Room No. 806, 8Th Floor 2Nd Floor, Shiv Ashish M.K. Road, Mumbai - 400020 Andheri Prade, Mumbai - 400005 Pan: Aaccm7533K (Appellant) (Respondent) Assessee By : Ms. Pooja Rander & Shri Rushabh Mehta Department By : Shri Manoj Sinha

For Appellant: Ms. Pooja Rander &For Respondent: Shri Manoj Sinha

Section 115JSection 131Section 142(1)Section 143(1)Section 143(2)Section 148Section 68

…s and the Courts are unanimous that no such addition in the hands of the assessee can be made, as in the present situation. A few landmark decisions are discussed as below. 7.9. Hon'ble Bombay High Court decision in CIT vs. Gagandeep infrastructure Pvt. Ltd. (394 ITR 680), is one of the most relevant to decide the present issue. In the said decision, the AY was 2008-09 and the appellant, Gagandeep infrastructure Pvt. Ltd. had also issued share of premium of Rs.190/-. The AO for the reasons of justification of premium had added the share premium as income of the appellant. It is observed from the decision that M/s…

M/S Silvertoss Realtors Pvt. Ltd., Kolkata vs. I.T.O., Ward-9(4), Kolkata

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

ITA 2282/KOL/2019[2012-13]Status: DisposedITAT Kolkata28 Nov 2022AY 2012-13

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 131Section 133(6)Section 143(2)Section 143(3)Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'ए' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA श्री संजय गगग, न्याधयक सदस्य एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 2282/Kol/2019 Assessment Year: 2012-13 M/s. Silvertoss Realtors Pvt. Ltd.…...........................Appellant [PAN: AAPCS 8325 N] Vs. ITO, Ward-9(4), Kolkata........................................Respondent Appearances by: Sh. Sunil Surana, FCA, appeared on behalf of the Assessee. Sh. Vijay Kumar, Addl. CIT, Sr. D/R, appeared on behalf of the Rev…

DCIT Central Circle-8(4), Mumbai vs. M/S.Gandhar Yarn Private Limited, Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 907/MUM/2018[2009-10]Status: DisposedITAT Mumbai07 Nov 2022AY 2009-10

Bench: Shri M. Balaganesh & Shri Sandeep Singh Karhail

For Appellant: Shri Rakesh JoshiFor Respondent: Shri P.P. Mane

Section 131Section 133(6)Section 143(1)Section 147Section 250Section 68

…he A.O. to show as to how the explanation furnished by appellant is not satisfactory in his opinion. In this regard, the appellant has also relied on the judgment of jurisdictional High Court of Bombay in the case of CIT vs. Gagandeep Infrastructure Pvt. Ltd, 394 ITR 680, the relevant portion of which is reproduced hereunder:- M/s. Gandhar Yarn Pvt. Ltd. ITA No.907/Mum./2018 "Proviso to section 68 introduced by Finance Act 2012 with effect from 1-4-2013, would not have retrospective effect. Where assessee-company had established identity, genuineness and capacity of shareholders who had subscribed to its shares,…

ITO, Ward-12(1), Kolkata vs. Trinetra Merchants(P) Ltd., Kolkata

ITA 570/KOL/2021[2012-13]Status: DisposedITAT Kolkata03 Nov 2022AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.570/Kol/2021 Assessment Year: 2012-13 Ito, Ward-12(1), Kolkata .......….…..…....................................................….. Appellant Vs. Trinetra Merchants (P) Ltd...............................................................…… …. Respondent 14A, Clive Row, 1St Floor, Dalhousie, Kolkata-1. [Pan: Aabct7086M] Appearances By: Shri Manish Tiwari, Fca, Appeared On Behalf Of The Appellant. Shri Partha Pratim Barman, Addl. Cit, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 12, 2022 Date Of Pronouncing The Order : November 03, 2022 आदेश / Order मनीष बोरड, लेखा सद"य "वारा / Per Manish Borad: This Appeal Filed By The Revenue Pertaining To The Assessment Year (In Short “Ay”) 2012-13 Is Directed Against The Order Passed U/S 250 Of The Income Tax Act, 1961 (In Short The “Act”) By Commissioner Of Income Tax (Appeals)-7, Kolkata [In Short Ld. “Cit(A)”] Dated 13.07.2020 Which Is Arising Out Of The Assessment Order Framed U/S 143(3) Of The Act Dated 10.03.2015. 2. Registry Has Informed That The Appeal Is Time Barred By 343 Days. Condonation Application Has Been Filed By The Revenue. Perusal Of The Same Shows That The Delay Was On Account Of Covid-19 Restrictions. We, Therefore, In View Of The Judgment Of The Hon’Ble Supreme Court Vide Miscellaneous Application No. 21 Of 2022 Find That The Limitation Period In Filing Appeal Between 15.03.2020 Till

Section 143(3)Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी मनीष बोरड, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member I.T.A No.570/Kol/2021 Assessment year: 2012-13 ITO, Ward-12(1), Kolkata .......….…..…....................................................….. Appellant vs. Trinetra Merchants (P) Ltd...............................................................…… …. Respondent 14A, Clive Row, 1st Floor, Dalhousie, Kolkata-1. [PAN: AABCT7086M] Appearances by: Shri Manish Tiwari, FCA, appeare…

Joint Commissioner of Income Tax (OSD) Circle-1(1), Bilaspur vs. M/S Omax Minerals Pvt. Ltd. Gadumaria, Raigarh

In the result appeal ITA No

ITA 94/RPR/2018[2014-15]Status: DisposedITAT Raipur17 Oct 2022AY 2014-15

For Appellant: Shri G.S.Agrawal & Shri N.C.Gupta, ARsFor Respondent: Shri Sanjay Kumar, Sr.DR

Section 131(1)Section 68

…आयकर अऩीऱीय अधधकरण, रायऩुर न्यायऩीठ, रायऩुर IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR श्री रविश सूद, न्याययक सदस्य एवं श्री अरुण खोड़वऩया, ऱेखा सदस्य के समक्ष । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अऩीऱ सं./ITA No.94/RPR/2018 (ननधाारण वषा / Assessment Year :2014-2015) JCIT(OSD), Circle-1(1), Bilaspur Vs M/s Omax Minerals Pvt. Ltd. Adumaria, Jharsuguda Road, Raipur PAN No. : AABCO 5774 H (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. AND Cross Objection No.09/RPR/2018 (Arising out of ITA No.94/RPR/2018) (ननधाारण वषा / Assessment Year :2014-2015) M/s Omax Minerals Pvt. Ltd. Vs J…

ITO 12(3)(1), Mumbai vs. Ktg Developers Pvt Ltd, Mumbai

In the result, appeal by the Revenue is partly allowed for statistical purpose

ITA 4336/MUM/2019[2011-12]Status: DisposedITAT Mumbai10 Oct 2022AY 2011-12

Bench: Shri Vikas Awasthy& Shri Gagan Goyalआअसं.4336/मुं/2019(िन.व. 2011-12) Ito-12 (3) (1), Room No.147A, 1St Floor, Aayakarbhavan, M.K. Road, ...... अपीलाथ"/Appellant Mumbai-400 020 बनाम Vs. M/S. Ktg Developers Pvt. Ltd., Link Komal Co-Op Gh Society, Flat No.3, Plot No.81-A, Linking Road, Santacruz (W) Mumbai-400 054 Pan: Aacck-9929-R ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Tejinder Pal Singh "ितवादी "ारा/Respondent By : Shri Jitendra Singh सुनवाई की ितिथ/ Date Of Hearing : 15/07/2022 घोषणा की ितिथ/ Date Of Pronouncement : 10/10/2022 आदेश/ Order

For Appellant: Shri Tejinder Pal SinghFor Respondent: Shri Jitendra Singh

Section 68

…cation money in the hands of shareholders instead of making addition of the same in the hands of assessee as 6 unexplained cash credit. In support of his contentions he placed reliance on thefollowing decisions: (i) CIT vs. Gagandeep Infrastructure Pvt. Ltd, 394 ITR 680(Bom.) (ii) Ivan Singh vs ACIT, 422 ITR 128 (Bom.) 4.2 In respect of ground No. 3 of appeal, Id. Counsel for the assessee submits that all details in possession of the assessee in respect of unsecured loan lenders were furnished to the Assessing Officer during the assessment proceedings. The Assessing Officer without appreciating documents pla…

DCIT 4 (3)(1), Mumbai vs. Shri Mohit Keepak Kamboj, Mumbai

ITA 4285/MUM/2019[2010-11]Status: DisposedITAT Mumbai28 Sept 2022AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri Satyaprakash SinghFor Respondent: Shri P. R. Mane

Section 143(2)Section 143(3)Section 2(22)(e)Section 23Section 68

…ies and not for other creditors like assessee for receipt of loan/borrowing which was with effect from 01st April 2013], which was held to be applicable prospectively and not have any retrospective effect. (i) CIT Vs Gagandeep Infrastructure Private Limited (394 ITR 680) [Bom HC]: “We find that the proviso to section 68 of the Act has been introduced by the Finance Act 2012 with effect from 1st April, 2013. Thus it would be effective only from the Assessment Year 2013-14 onwards and not for the subject Assessment Year. In fact, before the Tribunal, it was not even the case of the Revenue that Section 68 of the…