CIT v. Gagandeep Infrastructure (P.) Ltd.

394 ITR 680High Court2017#257 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 292,668 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 68Section 143(3)Section 131Section 148Section 142(1)Section 147Section 133(6)Section 143(2)

Issues it is cited on

source of sourceshare capital and share premiumcreditworthiness of the creditorsummons under section 131share application moneypermanent account numbersection 56(2)(viib)paper companyaddition under section 68genuineness of the transactionaddition u/s 68unexplained cash credit

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

ACIT CC 7(3), MUMBAI vs. TRISHUL REALTY INFRA LLP, MUMBAI

In the result, the appeal filed by the Revenue and the COs filed by the Assessee stand dismissed

ITA 7649/MUM/2025[2012-13]Status: DisposedITAT Mumbai19 Feb 2026AY 2012-13

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A. No. 7649/Mum/2025 A.Y: 2012-13 ACIT- CC 7(3) Vs Trishul Reality Infra LLP Room No. 655, 6th Floor, . Office No.1, 2nd Floor, 3, Aayakar Bhavan, MK Patel Bhuvan, 29, Vijay Road, Wadi, Dr. N.N. Shah Lane, Mumbai-400020 Chira Bazar, Mumbai - 400002 PAN – AADCT0412D (Appellant) (Respondent) CO. No. 33/Mum/2026 (Arising out of ITA No. 7649/Mum/2025) A.Y: 2012-13 Trishul Reality Infra LLP Vs ACIT- CC 7(3) Office No.1, 2nd Floor, 3, Room No. 655, 6th Floor, Patel Bhuva…

HOLLIS VITRIFIED PRIVATE LIMITED,MORBI, GUJARAT, INDIA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX - 1, RAJKOT, RAJKOT, GUJARAT, INDIA

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

ITA 363/RJT/2024[2018-19]Status: DisposedITAT Rajkot12 Feb 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकरअपीलसं./Ita No. 363/Rjt/2024 (Assessment Year: 2018-19) (Hybrid Hearing) Hollis Vitrified Pvt. Ltd. Vs. The Pr. Commissioner Of Income Revenue Survey No. 756/P1/P1/P1, Opp. Tax-1, Rajkot Antique Granito, Ghuntu,-Lakhdhirpur Road, Morbi (Gujarat)-363642 "ायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacch5628Q (अपीलाथ"/Appellant) (""थ"/Respondent)

For Appellant: Shri Fenil H. Mehta, Ld. ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 263Section 68

…आयकर अपीलीय अिधकरण,राजकोट "ायपीठ,राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND DR. DINESH MOHAN SINHA, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 363/RJT/2024 (Assessment Year: 2018-19) (Hybrid Hearing) Hollis Vitrified Pvt. Ltd. Vs. The Pr. Commissioner of Income Revenue Survey No. 756/P1/P1/P1, Opp. Tax-1, Rajkot Antique Granito, Ghuntu,-Lakhdhirpur Road, Morbi (Gujarat)-363642 "ायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCH5628Q (अपीलाथ"/Appellant) (""थ"/Respondent) िनधा"रतीकीओरसे/Assessee by : Shri Fenil H. Mehta, Ld. AR राज"कीओरसे/Revenue by : Shri S…

AMPLEX PROJECTS PRIVATE LIMITED,AGARTALA vs. DCIT/ACIT, CIRCLE SILCHAR, SILCHAR

In the result, appeal of the assessee is allowed in above terms

ITA 333/GTY/2025[2013-14]Status: DisposedITAT Guwahati19 Jan 2026AY 2013-14

Bench: the Ld. CIT(A).

For Respondent: Shri Santosh Kumar Karnani, Addl. CIT
Section 1Section 139(1)Section 143(3)Section 153ASection 245DSection 245D(4)Section 250

…. Moreover, the remedy with the Department lay in reopening the case of the investors and the addition could not be made in the hands of the assessee." The Hon'ble Bombay High Court in the case of CIT vs Gagandeep Infrastructure Pvt Limited reported in [2017] 394 ITR 680 (Bom) held that “Held (1) that the three essential tests laid down by the courts, namely, the genuineness of the transactions, identity and the capacity of the investors of the share application money along with the premium, had all been examined by the Appellate Tribunal and on facts found satisfied. If the Department took the view that the amou…

M/S ANJENEYE ISPAT LTD.,SARAIKELA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMSHEDPUR, JAMSHEDPUR

In the result the appeal of the assessee is allowed

ITA 74/RAN/2022[2008-09]Status: DisposedITAT Ranchi06 Jan 2026AY 2008-09

Bench: Shri Sonjoy Sarma & Shri Ratnesh Nandan Sahayi.T.A. No.74/Ran/2022 Assessment Year: 2008-09 M/S Anjeneya Ispat Ltd.…………….…….…............................……….……Appellant 29, Rain Basera, Sanjay Nagar Colony, Adityapur, Saraikela, Jharkhand – 831013. [Pan: Aagca1031N] Vs. Dcit, Circle-1, Jamshedpur……....….…..….........……........……...…..…..Respondent Appearances By: Shri Devesh Poddar, Ar, Appeared On Behalf Of The Appellant. Shri Kanhaiya Lal Kanak, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 11, 2025 Date Of Pronouncing The Order : January 06, 2026 Order Per Sonjoy Sarma: This Appeal Filed By The Assessee Is Directed Against The Order Of The Cit(A), Jamshedpur (Hereinafter Referred To As “Ld. Cit(A)”) Dated 21.08.2018 Passed Under Section 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”). 2. Brief Facts Of The Case Are That The Assessee Company Is Engaged In The Manufacturing Of Pig Iron. It Filed Its Return Of Income Declaring Total Income Of ₹1,41,05,250, Which Was Processed Under Section 143(1). During The Assessment Proceedings, The Assessing Officer Noticed That The Assessee Had Received Share Capital & Share Premium Aggregating To ₹3,00,00,000 During The Relevant Previous Year. The Assessing Officer Issued Notices Under Sections 142(1) & 148 Requiring The Assessee To Furnish Complete Details Of The Share Applicants, Including Identity, Creditworthiness & Genuineness Of The Transactions. In Response, The Assessee Furnished Complete Details In Respect Of The Share Capital/Share Premium Received From The Following Parties:

Section 133(6)Section 143(1)Section 154Section 250Section 68

…AY 2013–14 onwards. Accordingly, for the year under consideration, the assessee was not required to explain the source of the source. Reliance was placed on decision of the Hon’ble Bombay High Court as in the case of CIT v. Gagandeep Infrastructure Pvt. Ltd. (394 ITR 680) (Bom.) 5. We have heard the rival submissions and perused the material available on record. We find that the addition of Rs.3,07,00,000/- pertains to the share capital money received by the assessee during the year under consideration from the following share applicants:- Name of the share applicant Amount Rotomac Vinimay Pvt Ltd 45,00,000/- S…

RAMESHWAR FINVEST PRIVATE LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 3(3),, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 2107/KOL/2025[2008-2009]Status: DisposedITAT Kolkata23 Dec 2025AY 2008-2009

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Dcit, Central Circle 3(3) Rameshwar Finvest Private Aaykar Bhawan Poorva, Limited Santil Palli, 110, Eastern 111, Park Street, Kolkata- Metropolitan Bypass, Opposite Vs. 700016, West Bengal Ruby, Kasba, Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aabcr1053N Assessee By : Shri S.K. Tulsiyan & Ms. Puja Somani, Ars Revenue By : Shri Sanat Kumar Raha, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 23.12.2025

For Appellant: Shri S.K. Tulsiyan &For Respondent: Shri Sanat Kumar Raha, DR
Section 131Section 131(1)Section 142(1)Section 143(2)Section 143(3)Section 147Section 263Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM DCIT, Central Circle 3(3) Rameshwar Finvest Private Aaykar Bhawan Poorva, Limited Santil Palli, 110, Eastern 111, Park Street, Kolkata- Metropolitan Bypass, Opposite Vs. 700016, West Bengal Ruby, kasba, Kolkata-700107, West Bengal (Appellant) (Respondent) PAN No. AABCR1053N Assessee by : Shri S.K. Tulsiyan & Ms. Puja Somani, ARs Revenue by : Shri Sanat Kumar Raha, DR Date of hearing: 17.11.2025 Date of pronouncement: 23.12.2025 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the…

ACIT, CENTRAL CIRCLE-2, PATNA vs. M/S MAXXON VANIJYA & RESOURCES PVT LTD, KOLKATA

In the result, the order of the Ld

ITA 89/PAT/2021[2012-13]Status: DisposedITAT Patna08 Dec 2025AY 2012-13

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 132(1)Section 139Section 143(2)Section 144Section 153CSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL PATNA ‘DB’ BENCH AT KOLKATA [Virtual Court] Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER ITA No.: 89/PAT/2021 Assessment Year: 2012-13 ACIT, Central Circle-2, Patna M/s. Maxxon Vanijya & Vs. Resources Pvt. Ltd. (Appellant) (Respondent) PAN: AACCM3143M Appearances: Department represented by : Md. Shadab Ahmed, CIR(DR). Assessee represented by : Sudeep Sinha, Adv. Date of concluding the hearing : 13-October-2025 Date of pronouncing the order : 08-December-2025 ORDER PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the Revenue is ag…

DIAMOND REALCON PRIVATE LIMITED,DELHI vs. ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeal in ITA

ITA 1260/DEL/2025[2012-13]Status: DisposedITAT Delhi05 Dec 2025AY 2012-13

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.Ita No. 1260/Del/2025 (A.Y. 2012-13) M/S Diamond Realcon Private Vs Assistant Commissioner Of Limited, Income Tax, Central Circle-Ii, Shop No. 68, Building No. 38, Faridabad, Surya House, Near Pnb, Devli, Haryana-121001 Khanpur, New Delhi-110062 Pan: Aadcd6696H Appellant Respondent Assessee By Sh. S. S. Nagar, Ca Revenue By Ms.Suman Malik, Cit Dr Date Of Hearing 08/09/2025 Date Of Pronouncement 05/12/2025

Section 143(2)Section 147Section 148Section 151Section 153CSection 68

…1 ITA No. 1259 & 1260/Del/2025 Diamond Realcon Pvt. Ltd. Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ NEW DELHI) BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No. 1260/Del/2025 (A.Y. 2012-13) M/s Diamond Realcon Private Vs Assistant Commissioner of Limited, Income Tax, Central Circle-II, Shop No. 68, Building No. 38, Faridabad, Surya House, Near PNB, Devli, Haryana-121001 Khanpur, New Delhi-110062 PAN: AADCD6696H Appellant Respondent Assessee by Sh. S. S. Nagar, CA Revenue by Ms.Suman Malik, CIT DR Date of Hearing 08/09/2025 Date of…

DIAMOND REALCON PRIVATE LIMITED,NEW DELHI vs. ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeal in ITA

ITA 1259/DEL/2025[2011-12]Status: DisposedITAT Delhi05 Dec 2025AY 2011-12

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.Ita No. 1260/Del/2025 (A.Y. 2012-13) M/S Diamond Realcon Private Vs Assistant Commissioner Of Limited, Income Tax, Central Circle-Ii, Shop No. 68, Building No. 38, Faridabad, Surya House, Near Pnb, Devli, Haryana-121001 Khanpur, New Delhi-110062 Pan: Aadcd6696H Appellant Respondent Assessee By Sh. S. S. Nagar, Ca Revenue By Ms.Suman Malik, Cit Dr Date Of Hearing 08/09/2025 Date Of Pronouncement 05/12/2025

Section 143(2)Section 147Section 148Section 151Section 153CSection 68

…1 ITA No. 1259 & 1260/Del/2025 Diamond Realcon Pvt. Ltd. Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ NEW DELHI) BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No. 1260/Del/2025 (A.Y. 2012-13) M/s Diamond Realcon Private Vs Assistant Commissioner of Limited, Income Tax, Central Circle-II, Shop No. 68, Building No. 38, Faridabad, Surya House, Near PNB, Devli, Haryana-121001 Khanpur, New Delhi-110062 PAN: AADCD6696H Appellant Respondent Assessee by Sh. S. S. Nagar, CA Revenue by Ms.Suman Malik, CIT DR Date of Hearing 08/09/2025 Date of…

D.C.I.T., CC - 3(1),, KOLKATA vs. GLIX SECURITIES PRIVATE LIMITED, KOLKATA

In the result, the CO of the assessee and Revenue’s appeal are dismissed

ITA 1291/KOL/2025[2011-12]Status: DisposedITAT Kolkata02 Dec 2025AY 2011-12

Bench: Shri Rajesh Kumar, Am & Shri Pardip Kumar Choubey, Jm Dcit Glix Securities Private Limited 110, Shanti Pally, 1St Floor 1, Grant Lane, Aayakar Bhawan Poorva, Vs. Kolkata-700012, West Bengal Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aabcg1844J Co No. 66/Kol/2025 (Arising In Ita No. 1291/Kol/2025 For A.Y. 2011-12) Dcit Glix Securities Private Limited 110, Shanti Pally, 1St Floor 1, Grant Lane, Aayakar Bhawan Poorva, Vs. Kolkata-700012, West Bengal Kolkata-700107, West Bengal (Appellant) (Respondent) Assessee By : Shri Manish Tiwari, Ar Revenue By : Shri P.N. Barnwal, Dr Date Of Hearing: 14.10.2025 Date Of Pronouncement: 02.12.2025

For Appellant: Shri Manish Tiwari, ARFor Respondent: Shri P.N. Barnwal, DR
Section 131Section 143(2)Section 147Section 148Section 68

…tors from page no. 56 to 59 of the Paper Book, while deleting the addition. The ld. CIT (A) relied on the decision of Commissioner of Income-tax- 1 vs. Gagandeep Infrastructure (P.) Ltd. [2017] 80 taxmann.com 272 (Bombay)/[2017] 247 Taxman 245 (Bombay)/[2017] 394 ITR 680 (Bombay)/[2018] 302 CTR 493 (Bombay)[20-03-2017], Vodafone India Services (P.) Ltd. vs. Union of India [2014] 50 taxmann.com 300 (Bombay)/[2015] 228 Taxman 25 (Bombay)/[2014] 368 ITR 1 (Bombay)/[2014] 271 CTR 488 (Bombay)[10-10-2014], wherein it has been held that source of source need not be established in the cases prior to A.Y. 2013-14 as amen…

PASSION REALTECH PVT LTD,GURGAON vs. ;ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeals in ITA

ITA 1269/DEL/2025[2012-13]Status: DisposedITAT Delhi26 Nov 2025AY 2012-13

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.

Section 143(2)Section 147Section 148Section 151Section 153C

…1 ITA No. 1268 & 1269/Del/2025 Passion Realtech Pvt. ltd. Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ NEW DELHI) BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No. 1269/Del/2025 (A.Y. 2012-13) M/s Passion RealtechPvt. Vs Assistant Commissioner of Ltd.C-131, Ground floor, Income Tax, Central Circle-II, Block-C, Sushant Shopping Faridabad, Arcade, Sushant Lok-1, Haryana-121001 Gurgaon-122002 PAN: AAECP8445M Appellant Respondent Assessee by Sh. S.S. Nagar, CA Revenue by Ms. Suman Malik, CIT(DR) Date of Hearing 08/09/2025 Date of Pronounce…

PASSION REALTECH PVT LTD,GURGAON vs. ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeals in ITA

ITA 1268/DEL/2025[2011-12]Status: DisposedITAT Delhi26 Nov 2025AY 2011-12

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.

Section 143(2)Section 147Section 148Section 151Section 153C

…1 ITA No. 1268 & 1269/Del/2025 Passion Realtech Pvt. ltd. Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ NEW DELHI) BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER ITA No. 1269/Del/2025 (A.Y. 2012-13) M/s Passion RealtechPvt. Vs Assistant Commissioner of Ltd.C-131, Ground floor, Income Tax, Central Circle-II, Block-C, Sushant Shopping Faridabad, Arcade, Sushant Lok-1, Haryana-121001 Gurgaon-122002 PAN: AAECP8445M Appellant Respondent Assessee by Sh. S.S. Nagar, CA Revenue by Ms. Suman Malik, CIT(DR) Date of Hearing 08/09/2025 Date of Pronounce…

DELIGHT PROPCON PRIVATE LIMITED,DELHI vs. ACIT, CENTRAL CIRCLE-2, FARIDABAD

In the result, Appeal of the Assessee is partly allowed

ITA 1267/DEL/2025[2011-12]Status: DisposedITAT Delhi26 Nov 2025AY 2011-12

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.M/S Delight Propcon Private Vs Assistant Commissioner Of Limited Shop No. 68, Building Income Tax, No. 38, Surya House, Near Central Circle-Ii, New Cgo Pnb Devil Road, Khanpur, Complex, N. H. Iv, Nit New Delhi Faridabad, Haryana-121001 Pan: Aadcd6203E Appellant Respondent Assessee By Sh. S. S. Nagar, Ca Revenue By Sh. Suman Malik, Cit(Dr) Date Of Hearing 08/09/2025 Date Of Pronouncement 26/11/2025 Order

Section 143(2)Section 147Section 148Section 151Section 153CSection 68

…1 ITA No. 1267/Del/2025 M/s Delight Propcorn Pvt. Ltd. Vs. ACIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI (DELHI BENCH ‘E’ NEW DELHI) BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER M/s Delight Propcon Private Vs Assistant Commissioner of Limited Shop No. 68, Building Income Tax, No. 38, Surya House, Near Central Circle-II, New CGO PNB Devil Road, Khanpur, Complex, N. H. IV, NIT New Delhi Faridabad, Haryana-121001 PAN: AADCD6203E Appellant Respondent Assessee by Sh. S. S. Nagar, CA Revenue by Sh. Suman Malik, CIT(DR) Date of Hearing 08/09/2025 Date of Pronouncemen…

ADHIRA VINICOM PRIVATE LIMITED,HOWRAH vs. INCOME TAX OFFICER, WARD (10)1, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 998/KOL/2024[2012-13]Status: DisposedITAT Kolkata11 Nov 2025AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Adhira Vincom Private Limited Ito, Ward (10)1, Kolkata 52/1, 2Nd Floor, Santan Mistry Chowringhee Square, Lane, Near Oriya Para Mandir, Vs. Kolkata-700069, West Bengal Howrah-711011, West Bengal (Appellant) (Respondent) Pan No. Aahca4935E Assessee By : Shri Devesh Poddar, Ar Revenue By : Shri Pankaj Pandey, Dr Date Of Hearing: 14.10.2025 Date Of Pronouncement: 11.11.2025

For Appellant: Shri Devesh Poddar, ARFor Respondent: Shri Pankaj Pandey, DR
Section 131Section 132Section 133(6)Section 143(2)Section 143(3)Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRIPRADIP KUMAR CHOUBEY, JM Adhira Vincom Private Limited ITO, Ward (10)1, Kolkata 52/1, 2nd floor, Santan Mistry Chowringhee Square, Lane, Near Oriya Para mandir, Vs. Kolkata-700069, West Bengal Howrah-711011, West Bengal (Appellant) (Respondent) PAN No. AAHCA4935E Assessee by : Shri Devesh Poddar, AR Revenue by : Shri Pankaj Pandey, DR Date of hearing: 14.10.2025 Date of pronouncement: 11.11.2025 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the Commissioner of Income-t…

KBJ DEVELOPERS PVT LTD,MUMBAI vs. ASST COMMISIONER OF INCOME TAX- 4(2)(1), MUMBAI

ITA 1837/MUM/2024[2012-13]Status: DisposedITAT Mumbai30 Oct 2025AY 2012-13

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

Section 133(6)Section 142Section 143(1)Section 143(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI “E” BENCH :: MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA Nos.1409/MUM/2024 (Assessment Year : 2012-13) ACIT, Circle-4(2)(1), Mumbai. (Appellant) Vs. KBJ Developers Pvt. Ltd., Office No.155, 15th Floor, C-Wing, Mittal Cort, Amnalal Bajaj Road, Nariman Point, Mumbai-400 021. PAN: AADCK 2847 D (Respondent) ITA No.1837/MUM/2024 (Assessment Year : 2012-13) KBJ Developers Pvt. Ltd., Office No.155, 15th Floor, C-Wing, Mittal Cort, Amnalal Bajaj Road, Nariman Point, Mumbai-400 021. PAN: AADCK 2847 D (Appellant) Vs.…

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

ITA 1038/KOL/2025[2016-2017]Status: DisposedITAT Kolkata16 Oct 2025AY 2016-2017

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

For Appellant: Shri Soumitra Choudhury, ARFor Respondent: Shri Sanat Kumar Raha, DR
Section 131Section 143(3)Section 263Section 68

…12-13, 2014-15 to 2016-17 not empower the ld. AO to make any enquiry into the source of source of funds. The ld. AR in defense of his argument relying on the decision of Hon'ble Bombay High Court in case of CIT vs. Gagandeep Infrastructure Private Ltd. (2017) 394 ITR 680 (Bom), wherein it has been held that the proviso to Section 68 of the Act was introduced by the Finance Act, 2012, w.e.f. 2013 and therefore, is effective from A.Y. 2013-14 onwards and not for the earlier assessment years prior to A.Y. 2013-14. The ld. AR also relied on the decision of Hon'ble Apex court in the case of Commissioner of Income-tax…

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

ITA 1037/KOL/2025[2015-2016]Status: DisposedITAT Kolkata16 Oct 2025AY 2015-2016

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

For Appellant: Shri Soumitra Choudhury, ARFor Respondent: Shri Sanat Kumar Raha, DR
Section 131Section 143(3)Section 263Section 68

…12-13, 2014-15 to 2016-17 not empower the ld. AO to make any enquiry into the source of source of funds. The ld. AR in defense of his argument relying on the decision of Hon'ble Bombay High Court in case of CIT vs. Gagandeep Infrastructure Private Ltd. (2017) 394 ITR 680 (Bom), wherein it has been held that the proviso to Section 68 of the Act was introduced by the Finance Act, 2012, w.e.f. 2013 and therefore, is effective from A.Y. 2013-14 onwards and not for the earlier assessment years prior to A.Y. 2013-14. The ld. AR also relied on the decision of Hon'ble Apex court in the case of Commissioner of Income-tax…

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. DCIT, CENT. CIR. 4(2), , KOLKATA

In the result, the appeals of the assessee are partly allowed

ITA 1036/KOL/2025[2014-2015]Status: DisposedITAT Kolkata16 Oct 2025AY 2014-2015

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

For Appellant: Shri Soumitra Choudhury, ARFor Respondent: Shri Sanat Kumar Raha, DR
Section 131Section 143(3)Section 263Section 68

…12-13, 2014-15 to 2016-17 not empower the ld. AO to make any enquiry into the source of source of funds. The ld. AR in defense of his argument relying on the decision of Hon'ble Bombay High Court in case of CIT vs. Gagandeep Infrastructure Private Ltd. (2017) 394 ITR 680 (Bom), wherein it has been held that the proviso to Section 68 of the Act was introduced by the Finance Act, 2012, w.e.f. 2013 and therefore, is effective from A.Y. 2013-14 onwards and not for the earlier assessment years prior to A.Y. 2013-14. The ld. AR also relied on the decision of Hon'ble Apex court in the case of Commissioner of Income-tax…

SAMRAT FINVESTORS PRIVATE LIMITED,KOLKATA vs. ITO, WARD 5(2) (NOW DCIT, CENT.CIR. 4(2)), KOLKATA

In the result, the appeals of the assessee are partly allowed

ITA 1035/KOL/2025[2012-2013]Status: DisposedITAT Kolkata16 Oct 2025AY 2012-2013

Bench: Shri Rajesh Kumar, Am & Shrigeorge Mathan, Jm

For Appellant: Shri Soumitra Choudhury, ARFor Respondent: Shri Sanat Kumar Raha, DR
Section 131Section 143(3)Section 263Section 68

…12-13, 2014-15 to 2016-17 not empower the ld. AO to make any enquiry into the source of source of funds. The ld. AR in defense of his argument relying on the decision of Hon'ble Bombay High Court in case of CIT vs. Gagandeep Infrastructure Private Ltd. (2017) 394 ITR 680 (Bom), wherein it has been held that the proviso to Section 68 of the Act was introduced by the Finance Act, 2012, w.e.f. 2013 and therefore, is effective from A.Y. 2013-14 onwards and not for the earlier assessment years prior to A.Y. 2013-14. The ld. AR also relied on the decision of Hon'ble Apex court in the case of Commissioner of Income-tax…

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

ITA 144/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER Assessment Year: 2018-19 DCIT, CC-2 v. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar v. DCIT, Central Circle-II Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appel…

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

ITA 139/LKW/2022[2018-19]Status: DisposedITAT Lucknow26 Sept 2025AY 2018-19

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

For Appellant: Shri Ashish Jaiswal, AdvocateFor Respondent: Shri R. K. Agarwal, CIT(DR)
Section 143(3)Section 36(1)(va)Section 37Section 41Section 41(1)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER Assessment Year: 2018-19 DCIT, CC-2 v. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar v. DCIT, Central Circle-II Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. TAN/PAN: AEMPA0823R (Appel…

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