CIT v. Green Infra Ltd.

78 Taxmann.com 340High Court2017#2076 most cited

What is CIT v. Green Infra Ltd. authority for?

Under Section 68, once an assessee discharges its initial onus by providing the identity, address, and genuineness of the transaction (e.g., through banking channels) for share capital, share premium, or loan creditors, the amount cannot be treated as undisclosed income of the assessee. Furthermore, before AY 2013-14, there is no onus on the assessee to justify the basis of share premium.

56

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Green Infra Ltd. · Section 68 · cash credits · unexplained money · onus of assessee · undisclosed income · share capital · share premium · genuineness of transaction · identity and creditworthiness of creditors · source of source · share premium justification AY 2013-14

Also reported as

392 ITR 7292 CTR 233

Sections most often in play

Section 68Section 142(1)Section 115JBSection 143(2)Section 14ASection 36(1)(iii)Section 37Section 43CA

Issues it is cited on

section 56(2)(viia)section 56(1)dcf methodsection 56(2)(viib)valuation of sharessection 43cashare capital and share premiumsource of sourcestrategic investmentsection 36(2)interest free advancestransfer of capital asset

Judgments citing CIT v. Green Infra Ltd.

INCOME TAX OFFICER-WARD-6(3)(1), MUMBAI vs. KOHINOOR PLANET CONSTRUCTIONS PVT. LTD., MUMBAI

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

ITA 1495/MUM/2024[2017-18]Status: DisposedITAT Mumbai29 Apr 2025AY 2017-18

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am & Kohinoor Planet Constructions Pvt. Assistant Commissioner Of Income Ltd. Tax, Circle 6(3)(1) 506, 5Th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5Th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar West, Mumbai – 400028. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) Assessee By : Shri. Jayesh Dadia : Shri. Biswanath Das – Cit Dr. Respondent By : 30.01.2025 Date Of Hearing Date Of Pronouncement : 29.04.2025 O R D E R Per Bench: These Are Cross Appeals Filed By The Assessee & Revenue, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals) Delhi (‘Ld. Cit(A)’ For Short)

For Appellant: Shri. Jayesh DadiaFor Respondent: 30.01.2025
Section 143(2)Section 143(3)Section 250Section 36(2)Section 37Section 43CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SMT. RENU JAUHRI, AM And Kohinoor Planet Constructions Pvt. Assistant Commissioner of Income Ltd. Tax, Circle 6(3)(1) 506, 5th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. PAN/GIR No. AABCR6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar Wes…

INCOME TAX OFFICER WARD-6(3)(1), MUMBAI vs. KOHINOOR PLANET CONSTRUCTIONS PRIVATE LIMITED, MUMBAI

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

ITA 1493/MUM/2024[2016-17]Status: DisposedITAT Mumbai29 Apr 2025AY 2016-17

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am & Kohinoor Planet Constructions Pvt. Assistant Commissioner Of Income Ltd. Tax, Circle 6(3)(1) 506, 5Th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5Th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar West, Mumbai – 400028. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) Assessee By : Shri. Jayesh Dadia : Shri. Biswanath Das – Cit Dr. Respondent By : 30.01.2025 Date Of Hearing Date Of Pronouncement : 29.04.2025 O R D E R Per Bench: These Are Cross Appeals Filed By The Assessee & Revenue, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals) Delhi (‘Ld. Cit(A)’ For Short)

For Appellant: Shri. Jayesh DadiaFor Respondent: 30.01.2025
Section 143(2)Section 143(3)Section 250Section 36(2)Section 37Section 43CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SMT. RENU JAUHRI, AM And Kohinoor Planet Constructions Pvt. Assistant Commissioner of Income Ltd. Tax, Circle 6(3)(1) 506, 5th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. PAN/GIR No. AABCR6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar Wes…

KOHINOOR PLANET CONSTRUCTIONS PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 6(3)(2), MUMBAI

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

ITA 1159/MUM/2024[AY 2016-17]Status: DisposedITAT Mumbai29 Apr 2025

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am & Kohinoor Planet Constructions Pvt. Assistant Commissioner Of Income Ltd. Tax, Circle 6(3)(1) 506, 5Th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5Th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar West, Mumbai – 400028. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) Assessee By : Shri. Jayesh Dadia : Shri. Biswanath Das – Cit Dr. Respondent By : 30.01.2025 Date Of Hearing Date Of Pronouncement : 29.04.2025 O R D E R Per Bench: These Are Cross Appeals Filed By The Assessee & Revenue, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals) Delhi (‘Ld. Cit(A)’ For Short)

For Appellant: Shri. Jayesh DadiaFor Respondent: 30.01.2025
Section 143(2)Section 143(3)Section 250Section 36(2)Section 37Section 43CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SMT. RENU JAUHRI, AM And Kohinoor Planet Constructions Pvt. Assistant Commissioner of Income Ltd. Tax, Circle 6(3)(1) 506, 5th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. PAN/GIR No. AABCR6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar Wes…

KOHINOOR PLANET CONSTRUCTIONS PRIVATE LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 6(3)(1), MUMBAI

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

ITA 1158/MUM/2024[AY 2017-18]Status: DisposedITAT Mumbai29 Apr 2025

Bench: Ms. Kavitha Rajagopal, Jm & Smt. Renu Jauhri, Am & Kohinoor Planet Constructions Pvt. Assistant Commissioner Of Income Ltd. Tax, Circle 6(3)(1) 506, 5Th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5Th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar West, Mumbai – 400028. Pan/Gir No. Aabcr6994E (Assessee) : (Respondent) Assessee By : Shri. Jayesh Dadia : Shri. Biswanath Das – Cit Dr. Respondent By : 30.01.2025 Date Of Hearing Date Of Pronouncement : 29.04.2025 O R D E R Per Bench: These Are Cross Appeals Filed By The Assessee & Revenue, Challenging The Order Of The Learned Commissioner Of Income Tax (Appeals) Delhi (‘Ld. Cit(A)’ For Short)

For Appellant: Shri. Jayesh DadiaFor Respondent: 30.01.2025
Section 143(2)Section 143(3)Section 250Section 36(2)Section 37Section 43CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SMT. RENU JAUHRI, AM And Kohinoor Planet Constructions Pvt. Assistant Commissioner of Income Ltd. Tax, Circle 6(3)(1) 506, 5th Floor, Aayakar Bhavan, Kohinoor Corporate Office, Senapati Vs. Bapat Marg, Dadar West, Mumbai – Maharishi Karve Road, Mumbai – 400028. 400020. PAN/GIR No. AABCR6994E (Assessee) : (Respondent) & Income Tax Officer, Ward-6(3)(1) Kohinoor Planet Constructions Room No. 524, 5th Floor, Aayakar Pvt. Ltd. Bhavan, M. K. Road, Mumbai – 3, Kohinoor Corporate Office, Vs. 400020. Senapati Bapat Marg, Dadar Wes…

M/S. OM SHANTI HOUSING ,MUMBAI vs. INCOME TAX OFFICER WARD 20(2)(3), MUMBAI

In the result appeal filed by the assesse stands allowed

ITA 672/MUM/2025[2017-18]Status: DisposedITAT Mumbai28 Mar 2025AY 2017-18

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

Section 143Section 44A

…sesee. The Om Shan above decision of Hon'ble Bombay High Court has been affirmed by the Hon'ble Supreme Court, thereby concurred with the findings of the Hon'ble High court. Further, the Hon'ble Bombay High Court, in the case of CIT vs Green Infra Ltd. (2017) 392 ITR 7 and CIT vs. Gagandeep Infrastructure Ltd. (2017) 394 ITR 680 had taken similar view and held that once, the assessee discharges its onus by filing necessary evidences including name and address of creditors, then the department can reopen the assessment of creditors and proceed in accordance with law, but sum so received from the creditors cannot b…

DCIT CC 7(4), MUMBAI vs. PODDAR RENAISSANCE REALITY PVT LTD (NOW KNOWN AS IMPERIAL RENAISSAICE RENIASANCE REALITY PVT. LTD), MUMBAI

In the result, the appeal of the In the result, the appeal of the Revenue is partly allowed

ITA 2045/MUM/2019[2012-13]Status: DisposedITAT Mumbai20 Dec 2024AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhaildcit, Cc-7(4), Mumbai V/S. Poddar Renaissance Reality Room No. 659, Aaykar बनाम Pvt. Ltd. (Now Known As Bhavan, M.K. Road, Imperial Renaissance Mumbai-400020 Renaissance Reality Pvt. Ltd.) 501/601, Aqua Marine, Carter Road, Mumbai-400050030 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aagcp2657R Appellant/अपीलाथ" .. Respondent/"ितवादी

For Appellant: Mr. Rishabh MehtaFor Respondent: Mr. R. A. Dhyani
Section 143Section 143(3)Section 68Section 69

…IN THE INCOME-TAX APPELLATE TRIBUNAL“C” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER & SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER DCIT, CC-7(4), Mumbai v/s. Poddar Renaissance Reality Room No. 659, Aaykar बनाम Pvt. Ltd. (Now known as Bhavan, M.K. Road, Imperial Renaissance Mumbai-400020 Renaissance Reality Pvt. Ltd.) 501/601, Aqua Marine, Carter Road, Mumbai-400050030 "थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAGCP2657R Appellant/अपीलाथ" .. Respondent/"ितवादी Assessee by : Mr. Rishabh Mehta Revenue by : Mr. R. A. Dhyani Date of Hearing 15.10.2024 Date of Pronouncement 20.12.2024 आदेश / O R D E R PE…

INCOME TAX OFFICER WARD 20(2)(1) MUMBAI, MUMBAI vs. OM SHANTI RESIDENCY, MUMBAI

ITA 3856/MUM/2024[2015-16]Status: DisposedITAT Mumbai13 Nov 2024AY 2015-16

Bench: Shri Sandeep Gosain & Ms. Padmavathy Svs. Om Shanti Residency Ito, Ward 20(2)(1) Flat No. 3, Ground Floor, Room No. 314, 3Rd B Wing, Maner Kunj, Floor, Piramal Meghwadi, Dr. Ss Rao Chambers, Dr. Ss Rao Marg, Lalbaug, Marg, Lalbaug, Mumbai Mumbai – 400012. – 400012. Pan/Gir No. Aabfo2195D (Applicant) (Respondent)

Section 143(3)Section 250

…itors assesee. The above decision of Hon'ble Bombay High Court has been affirmed by the Hon'ble Supreme Court, thereby concurred with the findings of the Hon'ble High court. Further, the Hon'ble Bombay High Court, in the case of CIT vs Green Infra Ltd. (2017) 392 ITR 7 and CIT vs. Gagandeep Infrastructure Ltd. (2017) 394 ITR 680 had taken similar view and held that once, the assessee discharges its onus by filing necessary evidences, including name 6 Om Shanti Residency, Mumbai and address of creditors, then the department can reopen the assessment of creditors and proceed in accordance with law, but sum so re…

ACADEMY FOR GLOBAL EDUCATION SERVICES PRIVATE LIMITED,MUMBAI vs. ITO, MUMBAI

In the result, the appeal filed by the Assessee stands allowed

ITA 3860/MUM/2023[2011-12]Status: DisposedITAT Mumbai23 Sept 2024AY 2011-12

Bench: Shri Narender Kumar Choudhry & Shri Omkareshwar Chidaraassessment Year: 2011-12

For Appellant: Shri Vimal Punmiya, CAFor Respondent: Shri Manoj Kumar Sinha, SR. D.R
Section 133(6)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “A”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER Assessment Year: 2011-12 M/s. Academy for Global ITO Education Services Private Aayakar Bhawan, Limited Circle 15(1)(1), C-09, Konark Indraprastha, Vs. Mumbai Sarvoday Nagar, Nathur Village, Maharashtra Mulund West, Mumbai - 400080 PAN: AAHCA2596F (Appellant) (Respondent) Present for: Assessee by : Shri Vimal Punmiya, CA Revenue by : Shri Manoj Kumar Sinha, SR. D.R. Date of Hearing : 27 . 06 . 2024 Date of Pronouncement : 23 . 09 . 2024 O R D E R…

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

ITA 1291/DEL/2022[2018-19]Status: HeardITAT Delhi09 Sept 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143(3)Section 144BSection 144CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’: NEW DELHI BEFORE SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI YOGESH KUMAR U.S., ACCOUNTANT MEMBER Ebro India Pvt. Ltd., vs. ACIT, Circle 7 (1), 807, New Delhi House, Delhi. Barakhamba Road, Connaught Place, New Delhi – 110 001. (PAN : AAECT5502H) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Rohit Jain, Advocate Shri Deepesh Jain, CA REVENUE BY : Shri Rajesh Kumar, CIT DR Date of Hearing : 11.06.2024 Date of Order : 09.09.2024 ORDER PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : This appeal has been filed by the assessee against the final assessment order dated…

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

ITA 2653/MUM/2023[2011-12]Status: DisposedITAT Mumbai05 Apr 2024AY 2011-12

Bench: Shri Amit Shukla & Shri, S Rifaur Rahman

For Appellant: Respondent byFor Respondent: Shri. Madhur Agrawal
Section 143(1)Section 143(3)Section 147Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI, S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 2653/Mum/2023 (A.Y. 2011-12) ITA No. 2635/Mum/2023 (A.Y. 2012-13) ITA No. 2651/Mum/2023 (A.Y. 2013-14) ITA No. 2650/Mum/2023 (A.Y. 2014-15) ITA No. 2646/Mum/2023 (A.Y. 2017-18) ACIT-1(1)(1) 579, Aaykar Bhavan, M. K. Road, Mumbai-400020 Vs. M/s. Aadhaar Wholesale Trading and Distribution Ltd. Knowledge House, Shyam Nagar, JV Link Road, Jogeshwari-East, S.O., Mumbai-400060 स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No: AAFCA8793G Appellant .. Respondent C.O. No. 119/Mum/2023 (A…

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

ITA 2651/MUM/2023[2013-14]Status: DisposedITAT Mumbai05 Apr 2024AY 2013-14

Bench: Shri Amit Shukla & Shri, S Rifaur Rahman

For Appellant: Shri. Madhur AgrawalFor Respondent: Shri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI, S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 2653/Mum/2023 (A.Y. 2011-12) ITA No. 2635/Mum/2023 (A.Y. 2012-13) ITA No. 2651/Mum/2023 (A.Y. 2013-14) ITA No. 2650/Mum/2023 (A.Y. 2014-15) ITA No. 2646/Mum/2023 (A.Y. 2017-18) ACIT-1(1)(1) 579, Aaykar Bhavan, M. K. Road, Mumbai-400020 Vs. M/s. Aadhaar Wholesale Trading and Distribution Ltd. Knowledge House, Shyam Nagar, JV Link Road, Jogeshwari-East, S.O., Mumbai-400060 स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No: AAFCA8793G Appellant .. Respondent C.O. No. 119/Mum/2023 (A…

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

ITA 2650/MUM/2023[2014]Status: DisposedITAT Mumbai05 Apr 2024

Bench: Shri Amit Shukla & Shri, S Rifaur Rahman

For Appellant: Shri. Madhur AgrawalFor Respondent: Shri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI, S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 2653/Mum/2023 (A.Y. 2011-12) ITA No. 2635/Mum/2023 (A.Y. 2012-13) ITA No. 2651/Mum/2023 (A.Y. 2013-14) ITA No. 2650/Mum/2023 (A.Y. 2014-15) ITA No. 2646/Mum/2023 (A.Y. 2017-18) ACIT-1(1)(1) 579, Aaykar Bhavan, M. K. Road, Mumbai-400020 Vs. M/s. Aadhaar Wholesale Trading and Distribution Ltd. Knowledge House, Shyam Nagar, JV Link Road, Jogeshwari-East, S.O., Mumbai-400060 PAN/GIR No: AAFCA8793G Appellant .. Respondent C.O. No. 119/Mum/2023 (Arising out of ITA No. 2653/M…

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

ITA 2646/MUM/2023[2017-18]Status: DisposedITAT Mumbai05 Apr 2024AY 2017-18

Bench: Shri Amit Shukla & Shri, S Rifaur Rahman

For Appellant: Shri. Madhur AgrawalFor Respondent: Shri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI, S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 2653/Mum/2023 (A.Y. 2011-12) ITA No. 2635/Mum/2023 (A.Y. 2012-13) ITA No. 2651/Mum/2023 (A.Y. 2013-14) ITA No. 2650/Mum/2023 (A.Y. 2014-15) ITA No. 2646/Mum/2023 (A.Y. 2017-18) ACIT-1(1)(1) 579, Aaykar Bhavan, M. K. Road, Mumbai-400020 Vs. M/s. Aadhaar Wholesale Trading and Distribution Ltd. Knowledge House, Shyam Nagar, JV Link Road, Jogeshwari-East, S.O., Mumbai-400060 स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No: AAFCA8793G Appellant .. Respondent C.O. No. 119/Mum/2023 (A…

ACIT, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

ITA 2635/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Amit Shukla & Shri, S Rifaur Rahman

For Appellant: Shri. Madhur AgrawalFor Respondent: Shri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI, S RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No. 2653/Mum/2023 (A.Y. 2011-12) ITA No. 2635/Mum/2023 (A.Y. 2012-13) ITA No. 2651/Mum/2023 (A.Y. 2013-14) ITA No. 2650/Mum/2023 (A.Y. 2014-15) ITA No. 2646/Mum/2023 (A.Y. 2017-18) ACIT-1(1)(1) 579, Aaykar Bhavan, M. K. Road, Mumbai-400020 Vs. M/s. Aadhaar Wholesale Trading and Distribution Ltd. Knowledge House, Shyam Nagar, JV Link Road, Jogeshwari-East, S.O., Mumbai-400060 PAN/GIR No: AAFCA8793G Appellant Respondent C.O. No. 119/Mum/2023 (Arising out of ITA No. 2653/Mum/…

SKJ BUILDWELL P.LTD,GHAZIABAD vs. ITO, WARD-2(3), GHAZIABAD

In the result the appeal of the assessee in ITA No

ITA 1226/DEL/2018[2012-13]Status: DisposedITAT Delhi10 Nov 2023AY 2012-13

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Vivek Kumar Upadhyay, Sr. DR
Section 2(22)(e)Section 68

…s to be taken for the impugned A.Y. 9. We are of considered view that prior to A.Y 2013-14 there is no onus on the assessee to justify the basis of premium on which shares are issued as held by the Hon'ble High Court of Bombay in the case of Green Infra Ltd 392 ITR 7 and Gagandeep Infrastructure Pvt Ltd. 80 Taxmann 272. 10. Facts on record show that the assessee has successfully discharged the initial onus cast upon it by provisions of section 68 of the Act. Therefore, no addition is called for u/s 68 of the Act. We, accordingly, direct the Assessing Officer to delete the addition of Rs. 1,29,35,000/-. Grou…

M/S AADHI ENTERPRISES PRIVATE LIMITED,CHENNAI vs. ACIT, CENTRAL CIRCLE-3(1), CHENNAI

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

ITA 308/CHNY/2023[2016-17]Status: DisposedITAT Chennai23 Aug 2023AY 2016-17

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.: 308/Chny/2023 िनधा"रण वष"/Assessment Year: 2016-17 Aadhi Enterprises Pvt. Ltd., The Acit, No.1-130, Perambur Barracks V. Central Circle-3(1), Road, Pattalam, Chennai. Chennai – 600 112. Pan: Aanca 0382P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri B. Ramakrishnan, Fca Shri S. Neelakantan, Fca Shri Shrenik Chordia, Ca ""यथ" क" ओर से/Respondent By : Shri S. Senthil Kumaran, Cit सुनवाई क" तारीख/Date Of Hearing : 11.07.2023 घोषणा क" तारीख/Date Of Pronouncement : 23.08.2023

For Appellant: Shri B. Ramakrishnan, FCAFor Respondent: Shri S. Senthil Kumaran, CIT
Section 132Section 139(1)Section 143(2)Section 153ASection 68

…अपीलीय अिधकरण, ‘बी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ीमहावीर "सह, उपा"य" एवं"ी मनोज कुमार अ"वाल, लेखा सद"यके सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 308/CHNY/2023 िनधा"रण वष"/Assessment Year: 2016-17 Aadhi Enterprises Pvt. Ltd., The ACIT, No.1-130, Perambur Barracks v. Central Circle-3(1), Road, Pattalam, Chennai. Chennai – 600 112. PAN: AANCA 0382P (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri B. Ramakrishnan, FCA Shri S. Neelakantan, FCA Shri Shrenik Chordia, CA ""यथ…

RAJASTHAN TRANSMAT PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER ,WARD 7(2),, JAIPUR

In the result, the appeal of the assessee partly allowed

ITA 165/JPR/2023[2012-13]Status: DisposedITAT Jaipur11 Jul 2023AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MEETHA LAL MEENA (Accountant Member)

For Appellant: Mrs. Prabha Rana, AR and Shri Vinod Kumar, AdvocateFor Respondent: Mrs. Runi Pal, Addl. CIT-DR
Section 133(6)Section 142(1)Section 143(2)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Mk0 ehBk yky ehuk] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & DR MEETHA LAL MEENA, AM vk;dj vihy la-@ITA No. 165/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2012-13 M/s. Rajasthan Transmat Private Ltd. cuke The ITO Vs. Village: Chirota, Post: Ajay Rajpura Ward 7(2) Kalwar Road, Jaipur 303 007 (Raj) Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCR 0662 D vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Mrs. Prabha Rana, AR and Shri Vi…

RUSTOMJEE ASPIREE PREMISES CO-OP SOC. LTD ,MUMBAI vs. ITO, WARD 26(2)(5), MUMBAI

In the result the appeal filed by the assessee is allowed

ITA 1195/MUM/2023[2017-18]Status: DisposedITAT Mumbai10 Jul 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Rustomjee Aspiree Premises Co- Ito Ward 26(2)(5), Op. Soc. Ltd., Room No. 319, 3Rd Floor, Kautilya Vs. Ground Floor, Rustomjee Bhavan, C-41 To C-43, ‘G’ Block Aspiree, Cts No. 628, Ai, Pt Bandra Kurla Complex, Bandra Kurla, Eatern Express Highway, (East), Mumbai-400051. Sion, Mumbai-400022. Pan No. Aabar 4001 L Appellant Respondent

For Appellant: Mr. Dharan GandhiFor Respondent: Ms. Indira Adakil, DR
Section 143(3)Section 80P(2)(d)

…supra), following the decision of following the decision of the Hon’ble Karnataka High Court in the case of Totagares Co Hon’ble Karnataka High Court in the case of Totagares Co Hon’ble Karnataka High Court in the case of Totagares Co- op. Sale Society (2017) 392 ITR 74 (K op. Sale Society (2017) 392 ITR 74 (Karnataka) and judgment of and judgment of the Hon’ble Kerala High Court in the case of PCIT v. Hon’ble Kerala High Court in the case of PCIT v. Hon’ble Kerala High Court in the case of PCIT v. Percoorkada Services Company Bank Ltd. Percoorkada Services Company Bank Ltd.. (2022) 442 ITR 141 . (2022) 442 ITR 1…

DCIT-CC 5(2), CENTRAL RANGE 5, MUMBAI vs. M/S JET PRIVILEGE PRIVATE LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 652/MUM/2023[2014-15]Status: DisposedITAT Mumbai22 Jun 2023AY 2014-15

Bench: Shri Aby T. Varkey () & Ms. Padmavathy S. ()

Section 56(2)(viib)Section 68

…r section 56(2)(viib) for the reason that the provisions of section are very clear that the receipts from residents attract the provisions of this section. The Ld.AR relied on the decision of the Hon'ble Bombay High Court in the case of Green Infra Ltd (2017) 392 ITR 7 (Bom) wherein it has been held that where the transactions are recorded in the books of account reflected in the financial statements and the subscription was done, through banking channel as evidenced by bank statements, then the genuineness o the transaction was not hit by section 68. The Ld.AR also relied on the decision of the co-ordinate bench…

MELLONA DEVELOPERS PVT. LTD.,MUMBAI vs. ITO, WARD- 3 (2)(2), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 1408/MUM/2020[2015-16]Status: DisposedITAT Mumbai08 Aug 2022AY 2015-16

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Mellona Developers Pvt. Ltd., V. Income Tax Officer – Ward – 3(2)(2) Room No. 673A, Aayakar Bhavan 514, Dalamal Towers, 211 M.K. Road, Mumbai - 400020 F.P.J. Marg, Nariman Point Mumbai - 400021 Pan: Aafcm3780K (Appellant) (Respondent) Assessee By : Shri K. Gopal Department By : Shri Mahita Nair

For Appellant: Shri K. GopalFor Respondent: Shri Mahita Nair
Section 115JSection 142(1)Section 143(2)

…ived on the short-term deposits made from surplus funds kept for the purpose of business should be treated as Income from business and profession and not income from other sources. (ii). Hon'ble Bombay High Court in the case of CIT vs. Green Infra Ltd. [2017] 392 ITR 7 (Bombay) wherein the Hon'ble Court has held that once the business of assessee has commenced, the interest income earned on short term fixed deposits awaiting use of funds in business operation was to be charged as business income. (iii). Commissioner of Income Tax vs Maharashtra Electrosmelt Limited 214 ITR 489 the Bombay High Court has held that…

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