Cit v. Independent Mdia (P) Ltd.

210 Taxmann 14High Court2012#6006 most cited

What is Cit v. Independent Mdia (P) Ltd. authority for?

The Assessing Officer (AO) is not required to prove that share money originated from the assessee's own funds; Section 68 of the Income Tax Act does not place such a burden on the AO.

19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2024.

Also referred to as

CIT v. Independent Media (P) Ltd. · section 68 · cash credits · share money · burden of proof · assessing officer · source of funds · Delhi High Court

Sections most often in play

Section 142(1)Section 143(2)Section 144Section 147Section 148Section 148(1)Section 149(1)(b)Section 151

Issues it is cited on

section 151section 131genuineness of the transactionreassessment proceedingsprevious yearsection 68section 148section 147prescribedpersonsection 14india

Judgments citing Cit v. Independent Mdia (P) Ltd.

DSKN JEWELLERS,DELHI vs. ITO WARD-46(3), NEW DELHI

The appeal is dismissed

ITA 1051/DEL/2021[2011-12]Status: DisposedITAT Delhi18 Apr 2024AY 2011-12

Bench: Shri G. S. Pannu, Vice- & Shri Anubhav Sharmadskn Jewellers Vs. Ito C/O. Mr. Samar Kapoor, Adv. Ward – 46(3) Chamber No.E-523, Karkardooma New Delhi Court, Delhi-32 Pan No. Aahfd 2162 M (Appellant) (Respondent) Assessee By : None Revenue By : Shri Sumesh Swani, Sr. D.R. Date Of Hearing : 24.01.2024 Date Of Pronouncement : 18.04.2024

For Appellant: NoneFor Respondent: Shri Sumesh Swani, Sr. D.R
Section 142(1)Section 143(2)Section 144Section 147Section 148Section 148(1)Section 149(1)(b)Section 151Section 27Section 271(1)(b)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’, NEW DELHI BEFORE SHRI G. S. PANNU, VICE-PRESIDENT AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER DSKN Jewellers Vs. ITO C/o. Mr. Samar Kapoor, Adv. Ward – 46(3) Chamber No.E-523, Karkardooma New Delhi Court, Delhi-32 PAN No. AAHFD 2162 M (APPELLANT) (RESPONDENT) Assessee by : None Revenue by : Shri Sumesh Swani, Sr. D.R. Date of hearing : 24.01.2024 Date of Pronouncement : 18.04.2024 ORDER PER ANUBHAV SHARMA, JUDICIAL MEMBER : This appeal is preferred by the assessee against the order dated 01.08.2019 of the Commissioner of Income Tax (Appeals)-16, New Delhi (herei…

GURCHARAN SINGH ,NEW DELHI vs. ACIT, CIRCLE-47(1), NEW DELHI

In the result, assessee’s appeals being ITA Nos

ITA 5580/DEL/2019[2010-11]Status: HeardITAT Delhi30 Aug 2023AY 2010-11

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharata.Y. 2009-10 & A.Y. 2010-11

Section 147Section 148Section 151Section 68

…1 ITA Nos. 5579 & 5580/Del/2019 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “H”: NEW DELHI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER A.Y. 2009-10 & A.Y. 2010-11 Gurcharan Singh, Vs ACIT, Circle-47(1), G-131, Vikaspuri, New Delhi. Delhi-110018. PAN- ATNPS9241F APPELLANT RESPONDENT Assessee represented by None Department represented by Shri Amit Katoch, Sr. DR Date of hearing 30.08.2023 Date of pronouncement 30.08.2023 O R D E R PER KUL BHARAT, JM: The captioned appeals, preferred by the assessee, are directed against separate orders of even date i.e. 08.0…

GURCHARAN SINGH ,NEW DELHI vs. ACIT, CIRCLE-47(1), NEW DELHI

In the result, assessee’s appeals being ITA Nos

ITA 5579/DEL/2019[2009-10]Status: HeardITAT Delhi30 Aug 2023AY 2009-10

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharata.Y. 2009-10 & A.Y. 2010-11

Section 147Section 148Section 151Section 68

…1 ITA Nos. 5579 & 5580/Del/2019 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “H”: NEW DELHI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER A.Y. 2009-10 & A.Y. 2010-11 Gurcharan Singh, Vs ACIT, Circle-47(1), G-131, Vikaspuri, New Delhi. Delhi-110018. PAN- ATNPS9241F APPELLANT RESPONDENT Assessee represented by None Department represented by Shri Amit Katoch, Sr. DR Date of hearing 30.08.2023 Date of pronouncement 30.08.2023 O R D E R PER KUL BHARAT, JM: The captioned appeals, preferred by the assessee, are directed against separate orders of even date i.e. 08.0…

AMAN EXPORTS INTERNATIONAL,JAIPUR vs. DCIT CIRCLE 1, JAIPUR

In the result, appeal of the assessee is partly allowed

ITA 147/JPR/2023[2012-13]Status: DisposedITAT Jaipur24 Aug 2023AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Manish Tatiwal (CA)For Respondent: Smt. Runi Pal (Addl. CIT) &
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 148Section 40A(3)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 147/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2012-13 cuke Aman Exports International DCIT, Vs. G-93 Epip Sitapura, Industrial Area Circle-01, Sitapura, Jaipur Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAQFA 6304 F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Manish Tatiwal (CA) jktLo dh vksj…

POTENT FOODS PRIVATE LIMTED,FARIDABAD vs. ITO WARD-2(1), FARIDABAD

In the result, appeal of the Assessee is allowed

ITA 104/DEL/2021[2016-17]Status: DisposedITAT Delhi05 May 2022AY 2016-17

Bench: Shri R.K. Panda

For Appellant: Shri Shyam SunderFor Respondent: Shri Om Prakash, Sr. DR
Section 143(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “SMC” : DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA.No.104/Del./2021 Assessment Year 2016-2017 M/s. Potent Foods Pvt. The Income Tax Officer, Ltd., FF-9, Vishnu Ward – 2 (1), FBD Place, Near Neelam vs. C.R. Building, Flyover, Sector 20-B, Faridabad. Faridabad. Haryana. PIN – 121 001 Haryana – 122 001. PAN AAGCP6222N (Appellant) (Respondent) Shri Rajiv Saxena, Shri Sumangla Saxena & For Assessee : Shri Shyam Sunder Advocates For Revenue : Shri Om Prakash, Sr. DR Date of Hearing : 30.03.2022 Date of Pronouncement : 05.05.2022 ORDER This appeal filed by th…

DY CIT 15(1)(2), MUMBAI vs. M/S LEENA POOWER TECH ENGINEERS P LTD., NAVI MUMBAI

In the result, the appeal is allowed

ITA 1313/MUM/2020[2011-12]Status: DisposedITAT Mumbai21 Sept 2021AY 2011-12

Bench: Us Is A Private Limited Company Stated To Be Engaged In The Business As 'Investment Company' In Column 10, Page 1, Of The Impugned Assessment Order. Its Assessment Under Section 143(3)

Section 143(3)Section 68

…ITA No. 1313/Mum/20 Assessment year: 2011-12 Page 1 of 41 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘A’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President), and Vikas Awasthy (Judicial Member)] ITA No. 1313/Mum/20 Assessment year: 2011-12 Deputy Commissioner of Income Tax Circle 15(1)(2), Mumbai ……………….………Appellant Vs Leena Power Tech Engineers Pvt Ltd ……………………Respondent 13/14, Sai Chambers, Saroval Vihar Road Sector 11, CBD Belapur, Navi Mumbai 4006 414 [PAN: AAACL4054E] Appearances by Brajendra Kumar for the appellant Devendra Jain for the respondent Date of concluding the hearing: : September 9, 2021 Da…

DCIT CIRCLE- 6 (3)(2), MUMBAI vs. M/S JOSTAR ORGOTECH PVT LTD, MUMBAI

ITA 103/MUM/2020[2012-13]Status: DisposedITAT Mumbai03 Sept 2021AY 2012-13

Bench: Hon’Ble Shri Pavan Kumar Gadale, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No. 103/Mum/2020 (धििाारण वर्ा / Assessment Year: 2012-13) Dcit-(6)(3)(2) M/S Jostar Orgotech Pvt. Ltd. बिाम/ Aaykar Bhavan, R. No. 576 A-501, Innova Marathon Next Gen. M.K. Road, Mumbai-400 020. Off. Ganpatrao Kadam Marg Vs. Lower Parel(W), Mumbai-400 008 स्थायीलेखासं./ जीआइआरसं./ Pan/Gir No. Aabcj-2496-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Revenue By : Ms. Usha Gaikwad– Ld. Sr. Dr Assessee By : Shri J. P. Bairagra– Ld. Ar सुनवाई की तारीख/ : 30/08/2021 Date Of Hearing घोषणा की तारीख / : 03/09/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2012-13 Arises Out Of The Order Of Learned Commissioner Of Income-Tax (Appeals)-12, Mumbai [Cit(A)], Dated 02/09/2019 In The Matter Of Assessment Framed By Ld. Assessing Officer U/S 143(3) On 28/03/2015. The Sole Ground By The Revenue Read As Under: - On The Facts & Circumstances Of The Case & In Law, The Ld.Cit(A) Erred In Deleting The Addition Of Rs.5,68,60,000/- Made By The Ao On Account Of Share Application Money/Share Capital & Share Premium Which Is Held As Unexplained

For Appellant: Shri J. P. Bairagra– Ld. ARFor Respondent: Ms. Usha Gaikwad– Ld. Sr. DR
Section 133(6)Section 143(3)Section 68

…1 आयकर अपीलीय अधिकरण “एफ ” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI माननीय श्री पवन कुमार गडाले, न्याययक सदस्य एवं माननीय श्री मनोज कुमार अग्रवाल ,लेखा सदस्य के समक्ष। BEFORE HON’BLE SHRI PAVAN KUMAR GADALE, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No. 103/Mum/2020 (धििाारण वर्ा / Assessment Year: 2012-13) DCIT-(6)(3)(2) M/s Jostar Orgotech Pvt. Ltd. बिाम/ Aaykar Bhavan, R. No. 576 A-501, Innova Marathon Next Gen. M.K. Road, Mumbai-400 020. Off. Ganpatrao Kadam Marg Vs. Lower Parel(W), Mumbai-400 008 स्थायीलेखा…

M/S K'S JEWELLERY & CO.,MUMBAI vs. ACIT 24 (2), MUMBAI

The appeal stands partly allowed in similar fashion

ITA 7509/MUM/2019[2007-08]Status: DisposedITAT Mumbai07 Jul 2021AY 2007-08

Bench: Hon’Ble Shri Amarjit Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode)

For Appellant: Shri Suchek Anchaliya & ShriFor Respondent: Shri Gurbinder Singh– Ld. DR
Section 143(3)Section 147Section 148

…1 आयकर अपीलीय अिधकरण “एच” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI माननीय "ी अमरजीत िसंह, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI AMARJIT SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) 1. आयकरअपील सं./ I.T.A. No.7509/Mum/2019 (िनधा"रण वष" / Assessment Year: 2007-08) & 2. आयकरअपील सं./ I.T.A. No.7510/Mum/2019 (िनधा"रण वष" / Assessment Year: 2008-09) & 3. आयकरअपील सं./ I.T.A. No.7511/Mum/2019 (िनधा"रण वष" / Assessment Year: 2009-10) & 4. आयकरअपील सं./ I.T.A. No.7512/Mum/2019 (िनधा"रण वष" / Asse…

M/S. SHREE BALKISHAN AGARWAL GLASS INDUSTRIES LTD.,DELHI vs. DCIT, NEW DELHI

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

ITA 5798/DEL/2016[2005-06]Status: DisposedITAT Delhi18 Sept 2020AY 2005-06

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2005-06 Shree Balkishan Agarwal Glass Vs Dcit, Industries Ltd., Circle-8(1), C/O Sarvam & Associates, New Delhi. 403, Klj Tower North, B-5, Netaji Subhash Place, District Centre, Pitampura, Delhi. Pan: Aabcs2870C (Appellant) (Respondent) Assessee By : Shri Suresh Gupta, Ca Revenue By : Shri Saras Kumar, Sr. Dr Date Of Hearing : 26.08.2020 Date Of Pronouncement : 21.09.2020 Order Per R.K. Panda, Am:

For Appellant: Shri Suresh Gupta, CAFor Respondent: Shri Saras Kumar, Sr. DR
Section 139Section 142(1)Section 143(1)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : G : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year: 2005-06 Shree Balkishan Agarwal Glass Vs DCIT, Industries Ltd., Circle-8(1), C/o Sarvam & Associates, New Delhi. 403, KLJ Tower North, B-5, Netaji Subhash Place, District Centre, Pitampura, Delhi. PAN: AABCS2870C (Appellant) (Respondent) Assessee by : Shri Suresh Gupta, CA Revenue by : Shri Saras Kumar, Sr. DR Date of Hearing : 26.08.2020 Date of Pronouncement : 21.09.2020 ORDER PER R.K. PANDA, AM: This appeal filed by the assessee is directed agai…

SRI JAGDISH PRASAD SHARMA,NEW DELHI vs. ITO, GHAZIABAD

The appeal of the assessee is dismissed

ITA 104/DEL/2015[2009-10]Status: DisposedITAT Delhi13 Jan 2020AY 2009-10

Bench: Shri Prashant Maharishi & Shri K.N.Charysri Jagdish Prasad Sharma, Vs. Ito, C/O. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2Nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi Pan: Azpps2130R (Appellant) (Respondent)

For Appellant: Ms. Timsi Sharma, CAFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC +C”: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K.N.CHARY, JUDICIAL MEMBER Sri Jagdish Prasad Sharma, Vs. ITO, C/o. Mr. Sandeep Bhatnagar, Ward-1(3), Flat No. 12, 2nd Floor, Sheel Tara Ghaziabad House, 4866/24, Ansari Road, Darya Ganj, New Delhi PAN: AZPPS2130R (Appellant) (Respondent) Assessee by : Ms. Timsi Sharma, CA Revenue by: Ms. Rakhi Vimal, Sr. DR Date of Hearing 14/10/2019 Date of pronouncement 13/01/2020 O R D E R PER PRASHANT MAHARISHI, A. M. 1. This is an appeal filed by the assessee against the order of the ld CIT(A), Ghaziaba…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,, KOTA

ITA 1205/JPR/2018[2011-12]Status: DisposedITAT Jaipur27 Mar 2019AY 2011-12
Section 143(3)Section 153Section 153ASection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 1053/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2010-11 cuke M/s Agrasen Agro Industries Deputy Commissioner of Vs. Pvt. Ltd., Income Tax, Plot No. 6 and 7, C-Block, Central Circle, Room No. 2nd Multimetals Ltd. Campus, 212, Floor, C.R. Kansua Road, Large Scale Building, Rawat Bhata Industrial Area, Kota. Road, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: A…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S RAJASTHAN CABLE INDUSTRIES LIMITED, KOTA

ITA 1189/JPR/2018[2016-17]Status: DisposedITAT Jaipur27 Mar 2019AY 2016-17
For Appellant: Shri Vijay Goyal (CA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 143(3)Section 153ASection 68

…ences and confirmed by the respective lenders/parties also and even acceptable before the judicial authorities. 19. With regard to the Assessing Officer’s reliance on the decision of Hon’ble Delhi High Court in the case of Cit Vs. Independent Mdia (P) Ltd. 210 Taxmann 14 (Delhi) (2012), it was the contention of the ld AR that though the Ld. AO has placed reliance upon the aforesaid judgment to substantiate his action for making addition under Section-68 of the ITA 1121, 1189 & 1052/JP/2018_ 20 M/s Rajasthan Cable Industries Ltd. Vs DCIT Act but the act of Ld. AO is derogatory to the aforesaid judgment of Ho…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,, KOTA

ITA 1188/JPR/2018[2010-11]Status: DisposedITAT Jaipur27 Mar 2019AY 2010-11
Section 143(3)Section 153Section 153ASection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 1053/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2010-11 cuke M/s Agrasen Agro Industries Deputy Commissioner of Vs. Pvt. Ltd., Income Tax, Plot No. 6 and 7, C-Block, Central Circle, Room No. 2nd Multimetals Ltd. Campus, 212, Floor, C.R. Kansua Road, Large Scale Building, Rawat Bhata Industrial Area, Kota. Road, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: A…

M/S RAJASTHAN CABLE INDUSTRIES LIMITED,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

ITA 1121/JPR/2018[2015-16]Status: DisposedITAT Jaipur27 Mar 2019AY 2015-16
For Appellant: Shri Vijay Goyal (CA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 143(3)Section 153ASection 68

…ences and confirmed by the respective lenders/parties also and even acceptable before the judicial authorities. 19. With regard to the Assessing Officer’s reliance on the decision of Hon’ble Delhi High Court in the case of Cit Vs. Independent Mdia (P) Ltd. 210 Taxmann 14 (Delhi) (2012), it was the contention of the ld AR that though the Ld. AO has placed reliance upon the aforesaid judgment to substantiate his action for making addition under Section-68 of the ITA 1121, 1189 & 1052/JP/2018_ 20 M/s Rajasthan Cable Industries Ltd. Vs DCIT Act but the act of Ld. AO is derogatory to the aforesaid judgment of Ho…

M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

ITA 1053/JPR/2018[2010-11]Status: DisposedITAT Jaipur27 Mar 2019AY 2010-11
Section 143(3)Section 153Section 153ASection 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh fot; iky jko] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI VIJAY PAL RAO, JM vk;dj vihy la-@ITA No. 1053/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2010-11 cuke M/s Agrasen Agro Industries Deputy Commissioner of Vs. Pvt. Ltd., Income Tax, Plot No. 6 and 7, C-Block, Central Circle, Room No. 2nd Multimetals Ltd. Campus, 212, Floor, C.R. Kansua Road, Large Scale Building, Rawat Bhata Industrial Area, Kota. Road, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: A…

M/S RAJASTHAN CABLE INDUSTRIES LIMITED,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

ITA 1052/JPR/2018[2016-17]Status: DisposedITAT Jaipur27 Mar 2019AY 2016-17
For Appellant: Shri Vijay Goyal (CA) &For Respondent: Shri Varinder Mehta (CIT-DR)
Section 143(3)Section 153ASection 68

…ences and confirmed by the respective lenders/parties also and even acceptable before the judicial authorities. 19. With regard to the Assessing Officer’s reliance on the decision of Hon’ble Delhi High Court in the case of Cit Vs. Independent Mdia (P) Ltd. 210 Taxmann 14 (Delhi) (2012), it was the contention of the ld AR that though the Ld. AO has placed reliance upon the aforesaid judgment to substantiate his action for making addition under Section-68 of the ITA 1121, 1189 & 1052/JP/2018_ 20 M/s Rajasthan Cable Industries Ltd. Vs DCIT Act but the act of Ld. AO is derogatory to the aforesaid judgment of Ho…

JASAMRIT CONSTRUCTIONS P.LTD,MUMBAI vs. ITO 6(3)(2), MUMBAI

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

ITA 1091/MUM/2016[2012-13]Status: DisposedITAT Mumbai08 Feb 2018AY 2012-13

Bench: Shri Joginer Singh & Shri Rajesh Kumarm/S. Jasamrit Constructions Income Tax Officer-6(3)(2) Private Ltd. Room No. 503, 5Th Floor Flat No. 901, Building 'B' Vs. Aayakar Bhavan, M.K. Road Ashok Tower, Near Itc Hotel Mumbai 400020 Parel, Mumbai 400017 Pan – Aabcj8295L Appellant Respondent

For Appellant: Shri Vijay MehtaFor Respondent: Shri Aarju Goradia
Section 133(6)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL "J" Bench, Mumbai Before Shri Joginer Singh, Judicial Member and Shri Rajesh Kumar, Accountant Member M/s. Jasamrit Constructions Income Tax Officer-6(3)(2) Private Ltd. Room No. 503, 5th Floor Flat No. 901, Building 'B' Vs. Aayakar Bhavan, M.K. Road Ashok Tower, Near ITC Hotel Mumbai 400020 Parel, Mumbai 400017 PAN – AABCJ8295L Appellant Respondent Appellant by: Shri Vijay Mehta Respondent by: Shri Aarju Goradia Date of Hearing: 28.12.2017 Date of Pronouncement: 08.02.2018 O R D E R Per Rajesh Kumar, AM This appeal has been filed by the assessee against the order of the…

ITO, WARD-4(1), KOLKATA, KOLKATA vs. M/S. R.S. COALFIELD PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is allowed for statistical purposes

ITA 1924/KOL/2014[2010-2011]Status: DisposedITAT Kolkata26 Dec 2017AY 2010-2011

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri S.S. Viswanethra Ravi, Jm ] I.T.A No. 1924/Kol/2014 Assessment Year : 2010-11 I.T.O. Ward-4(1), Kolkata -Vs- M/S R.S. Coalfield Pvt. Ltd. [Pan: Aadcp 4759 K] (Appellant) (Respondent) For The Appellant : Shri Saurabh Kumar, Addl. Cit (Dr) For The Revenue : Shri Sanjay Bhattacharya, Ar Date Of Hearing : 01.12.2017 Date Of Pronouncement : 26.12.2017 Order J.Sudhakar Reddy, Am

For Appellant: Shri Saurabh Kumar, Addl. CIT (DR)For Respondent: Shri Sanjay Bhattacharya, AR
Section 132(1)Section 133ASection 143(1)Section 143(2)Section 143(3)

…Power & Steel Ltd. and the unaccounted monies of M/s Bhushan Power & Steel Ltd. has been routed through all these bogus companies which have been shown as their investments. 10.2 Hon'ble Hight Court in the case of CIT v. Independent Media (P.) Ltd. in [2012] 210 Taxmann 14 (Delhi) has held that it is not incumbent upon the Assessing Officer, on the facts and circumstances of the case, to establish with the help of material on record that the share monies had come or emanated from the assessee's coffers. Section 68 of the Act casts no such burden upon the Assessing Officer. This aspect has been considered more th…

ITO, WARD-9(1), KOLKATA, KOLKATA vs. M/S. MALINATH TRADECON PVT. LTD., KOLKATA

In the result, the appeal of the Revenue is allowed for statistical purposes

ITA 1876/KOL/2014[2010-2011]Status: DisposedITAT Kolkata26 Dec 2017AY 2010-2011

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri S.S. Viswanethra Ravi, Jm ] I.T.A No. 1876/Kol/2014 Assessment Year : 2010-11 I.T.O. Ward-9(1), Kolkata -Vs- M/S Malinath Tradecon Pvt. Ltd. [Pan: Aaecm 1557 F] (Appellant) (Respondent) For The Appellant : Shri Saurabh Kumar, Addl. Cit (Dr) For The Respondent : None

For Appellant: Shri Saurabh Kumar, Addl. CIT (DR)For Respondent: None
Section 132(1)Section 133ASection 143(1)Section 143(2)Section 143(3)

…Power & Steel Ltd. and the unaccounted monies of M/s Bhushan Power & Steel Ltd. has been routed through all these bogus companies which have been shown as their investments. 10.2 Hon'ble Hight Court in the case of CIT v. Independent Media (P.) Ltd. in [2012] 210 Taxmann 14 (Delhi) has held that it is not incumbent upon the Assessing Officer, on the facts and circumstances of the case, to establish with the help of material on record that the share monies had come or emanated from the assessee's coffers. Section 68 of the Act casts no such burden upon the Assessing Officer. This aspect has been considered more th…

Cit v. Independent Mdia (P) Ltd. (210 Taxmann 14) — Cited in 19 Judgments | BharatTax