What is CIT v. I.P.India Ltd. authority for?

Share application money received in cash is not considered a loan or deposit under Section 269SS of the Income Tax Act, and therefore, penalty under Section 271D cannot be imposed for such receipts.

How many judgments cite CIT v. I.P.India Ltd.?

10 judgments on BharatTax cite CIT v. I.P.India Ltd. (343 ITR 353), spanning 2015 to 2024.

CIT v. I.P.India Ltd. (343 ITR 353)

Deputy Commissioner of Income Tax, Chandigarh vs. James Hotels Ltd, Chandigarh

ITA 552/CHANDI/2023[2012-13]Status: DisposedITAT Chandigarh01 Oct 2024AY 2012-13

Bench: The Said Resolution To Enhance Authorized Share Capital.

For Appellant: Shri R.K. KapoorFor Respondent: Shri Rohit Sharma, CIT, DR

Section 143(2)Section 269SSection 271D

…rkhand High Court in the case of Bhalotia Engineering Works Pvt Ltd vs. CIT (2005) 275 ITR 399 Jharkhand. Said judgment of Hon'ble Jharkhand High court has clearly been distinguished by Hon'ble Delhi High Court in the case of CIT vs. LP. India Pvt Ltd (2012) 343 ITR 353 (Delhi) wherein the above judgment of Jharkhand High Court was distinguished and was held that provisions of section 269SS of Income Tax Act will not be applicable in respect of share application money received by the assessee in cash and the same would not account either to a loan or a deposit within the meaning of section 269SS of Income Tax Ac…

DCIT Central Circle-2, Bhubaneswar vs. M/S. Hotel Sukhamaya Pvt. Ltd, Bhubaneswar

In the result, all the three appeals of the Revenue are dismissed

ITA 206/CTK/2022[2012-13]Status: DisposedITAT Cuttack18 Sept 2024AY 2012-13

Section 132Section 269SSection 271D

…आयकर अपीलीय आयकर अपीलीय अिधकरण अिधकरण, कटक कटक "यायपीठ "यायपीठ,कटक आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण कटक कटक "यायपीठ "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER आयकर अपील संसंसंसं/ITA No.205 to 207/CTK/2022 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / A.Y. : 2009-2010, 2012-2013 & 2013-2014) वष" DCIT Central Circle-2, Vs M/s Hotel Sukhamaya Pvt. Ltd., A-1/9, A-1(A) & A-14, IRC Village, Bhubaneswar Nayapalli, Bhubaneswar-751014 PAN No. :AAACH 8114 M (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ"…

DCIT Central Circle-2, Bhubaneswar vs. M/S. Hotel Sukhamaya Pvt. Ltd, Bhubaneswar

In the result, all the three appeals of the Revenue are dismissed

ITA 205/CTK/2022[2009-10]Status: DisposedITAT Cuttack18 Sept 2024AY 2009-10

Section 132Section 269SSection 271D

…आयकर अपीलीय आयकर अपीलीय अिधकरण अिधकरण, कटक कटक "यायपीठ "यायपीठ,कटक आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण कटक कटक "यायपीठ "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER आयकर अपील संसंसंसं/ITA No.205 to 207/CTK/2022 (िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" / A.Y. : 2009-2010, 2012-2013 & 2013-2014) वष" DCIT Central Circle-2, Vs M/s Hotel Sukhamaya Pvt. Ltd., A-1/9, A-1(A) & A-14, IRC Village, Bhubaneswar Nayapalli, Bhubaneswar-751014 PAN No. :AAACH 8114 M (अपीलाथ" अपीलाथ" अपीलाथ" /Appellant) अपीलाथ" (""यथ"…

Layog Properties Pvt. Ltd., New Delhi vs. Add. CIT Range- 15, New Delhi

ITA 3324/DEL/2019[2012-13]Status: DisposedITAT Delhi10 Feb 2023AY 2012-13

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.3324/Del/2019 िनधा"रणवष"/Assessment Year: 2012-13 बनाम Layog Properties Pvt. Ltd., Addl. Cit, 703, Pragati Tower, 26, Vs. Range-15, Rajendra Place, New Delhi. New Delhi. Pan No. Aabcl9997R अपीलाथ" Appellant ""यथ"/Respondent

Section 143(3)Section 269SSection 271DSection 68

…e Ld. I.T.A.No.3324/Del/2019 Counsel for the assessee submits that when the share application money is received in cash whether it amounts to loan or deposit has been considered by the Jurisdictional High Court in the case of CIT Vs. I.P. India Pvt. Ltd. [343 ITR 353], wherein the High Court held that share application money received by the assessee company in cash for allotment of shares would not amount either to a loan or deposit within the meaning of Section 269SS of the Act. Ld. Counsel also placed reliance on the decision of the Delhi Tribunal of ITAT in the case of ITO Vs. Ugant Travels Pvt. Ltd. […

ITO, New Delhi vs. M/S. Yugant Travels Pvt. Ltd., New Delhi

ITA 24/DEL/2014[2006-07]Status: DisposedITAT Delhi11 Jul 2016AY 2006-07

Bench: Shri N.K. Saini & Shri Kuldip Singh

For Appellant: NoneFor Respondent: Shri Sanjay Kumar, CIT DR

Section 143Section 269SSection 271D

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘D’ : NEW DELHI) BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.24/Del./2014 (ASSESSMENT YEAR : 2006-07) ITO, Ward 18 (4), vs. M/s. Yugant Travels Pvt. Ltd., New Delhi. WZ – 145, C – 59, Arya Samaj Road, Uttam Nagar, New Delhi – 110 059. (PAN : AAACY2428H) (APPELLANT) (RESPONDENT) ASSESSEE BY : None REVENUE BY : Shri Sanjay Kumar, CIT DR Date of Hearing : 04.07.2016 Date of Order : 11.07.2016 O R D E R PER KULDIP SINGH, JUDICIAL MEMBER : The Appellant, Income-tax Officer, Ward 18 (4), New Delhi (hereinafter referr…