CIT v. K. S. M Guruswamy Nadar and Sons.

149 ITR 127High Court1984#1464 most cited

What is CIT v. K. S. M Guruswamy Nadar and Sons. authority for?

Where separate additions are made for suppressed profit and unexplained cash credits under section 68, the assessee can explain that the suppressed profit accounts for the cash credit, allowing for telescoping of additions to prevent double taxation.

78

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

KSM Guruswamy Nadar & Sons · CIT v K. S. M Guruswamy Nadar · 149 ITR 127 · Section 68 · telescoping additions · unexplained cash credit · suppressed profit · rejection of books of account · double taxation · deemed income

Also reported as

19 Taxmann 533

Sections most often in play

Section 153ASection 143(3)Section 153CSection 132Section 69ASection 69CSection 44ADSection 115BBE

Issues it is cited on

section 153cofsection 245c(1)section 245hsection 114(e)section 134section 245csection 245d(4)section 153b(1)(b)section 245don money receiptsection 90asanction under section 151

Judgments citing CIT v. K. S. M Guruswamy Nadar and Sons.

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3059/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3058/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Feb 2024AY 2013-14

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

Konark Infrastructure Ltd, Ulhasnagar vs. DCIT Central Circle - 4, Thane

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 3025/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No. 3025/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Konark Infrastructure Ltd बिधम/ Dcit, Central Circle – 4 Ground Floor, Sapna 6Th Floor, Ashar It Park, Vs. Talkies, Konark Plaza, Near 16Z, Waghle Estate, Sapna Garden, Ulhasnagar Thane (W) 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabck6745L (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. No. 3088/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure Ltd 6Th Floor, Ashar It Park, Ground Floor, Sapna Vs. 16Z, Waghle Estate, Thane Talkies, Konark Plaza, (W) Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabck6745L (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 153A

…reference to concealed income earned in that very year then no addition is warranted on account of such cash deficits or cash credits. 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of A.Y. 2017-18 Konark Infrastructure Ltd suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other…

Konark Infrastructure (Water Supply-Umc) (J/V), Thane vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3024/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

Konark Infrastructure ( Water Supply- Umc) (J/V), Ulhasnagar vs. DCIT, Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3023/MUM/2023[2015-16]Status: DisposedITAT Mumbai27 Feb 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3022/MUM/2023[2014-15]Status: DisposedITAT Mumbai27 Feb 2024AY 2014-15

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle -4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3021/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Feb 2024AY 2013-14

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…ry year then no addition is warranted on account of such cash deficits or cash credits. A.Ys. 2013-14 to 2015-16 Konark Infrastructure., 55. Similar view was expressed by Hon’ble Madras High Court in the case of CIT v. K. S. M Guruswamy Nadar and Sons, [1984] 149 ITR 127. In the decided case, it was held that when there are two separate additions viz., one on account of suppression of profit and another on account of cash credit, then it is open to the assessee to explain that, the suppressed profits had been brought in as cash credits and has to be telescoped into the other. 56. Gainful reference may also be ma…

M/S Eagle Infra India Limited, Mumbai vs. ACIT, Central Circle-4, Mumbai

In the result, appeals of assess

ITA 2401/MUM/2022[2018-19]Status: DisposedITAT Mumbai28 Aug 2023AY 2018-19

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

M/S Eagle Infra India Limited, Mumbai vs. ACIT, Central Circle-4, Mumbai

In the result, appeals of assess

ITA 2400/MUM/2022[2017-18]Status: DisposedITAT Mumbai28 Aug 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

M/S Eagle Infra India Limited, Mumbai vs. ACIT, Central Circle-4, Mumbai

In the result, appeals of assess

ITA 2399/MUM/2022[2016-17]Status: DisposedITAT Mumbai28 Aug 2023AY 2016-17

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

M/S Eagle Infra India Limited, Mumbai vs. ACIT, Central Circle-4, Mumbai

In the result, appeals of assess

ITA 2398/MUM/2022[2015-16]Status: DisposedITAT Mumbai28 Aug 2023AY 2015-16

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

M/S Eagle Infra India Limited, Mumbai vs. ACIT, Central Circle-4, Mumbai

In the result, appeals of assess

ITA 2397/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Aug 2023AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

ACIT, Cenral Circle-4, Thane vs. M/S Eagle Infra India Limited, Mumbai

In the result, appeals of assess

ITA 2214/MUM/2022[2017-2018]Status: DisposedITAT Mumbai28 Aug 2023AY 2017-2018

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

ACIT, Central Circle-4, Mumbai vs. Mm/S Eagle Infra India Limited, Mumbai

In the result, appeals of assess

ITA 2213/MUM/2022[2016-2017]Status: DisposedITAT Mumbai28 Aug 2023AY 2016-2017

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

ACIT, Central Circle-4, Mumbai vs. M/S Eagle Infra India Limited, Mumbai

In the result, appeals of assess

ITA 2212/MUM/2022[2015-2016]Status: DisposedITAT Mumbai28 Aug 2023AY 2015-2016

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Ita Nos. 2212 To 2214/Mum/2022 Assessment Year: 2015-16 To 2017-18 Acit, Central Circle-4, M/S Eagle Infra India Ltd., Room No. 9, A-Wing, 6Th Barrack No. 758, Room No. 16, Vs. Floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. Pan No. Aacce 7247 G Appellant Respondent

For Appellant: Mr. M SubramnianFor Respondent: Mr. Sanjay Deshmukh, CIT-DR
Section 13Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITA Nos. 2212 to 2214/MUM/2022 Assessment Year: 2015-16 to 2017-18 ACIT, Central Circle-4, M/s Eagle Infra India Ltd., Room No. 9, A-Wing, 6th Barrack No. 758, Room No. 16, Vs. floor, Ashar I.T. Park, Road, Eagle Nest Building, Behind 16-Z Wagle Industrial Chopra Court, Ulhasnagar Estate, Thane (W)-400604. 421003. PAN No. AACCE 7247 G Appellant Respondent ITA Nos. 2397 to 2401/MUM/2022 Assessment Year: 2014-15 to 2018-19 M/s Eagle Infra India Ltd., ACIT, Centra…

Welspun Corp Ltd, Mumbai vs. DCIT Cen Cir 22, Mumbai

In the result, the appeals filed by the revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3890/MUM/2016[2008-09]Status: DisposedITAT Mumbai03 Apr 2023AY 2008-09

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadale

Section 143(3)Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA No. 5063/Mum/2016 (2009-10) ITA No. 5166/Mum/2016 (2011-12) M/s. Welspun Corp Ltd, Vs. DCIT, Central Circle - 7th Floor, Welspun 22, (Now CC – 3(3)) House, Kamala Mill Room No. 465, 4th Compund, SB Marg, Floor,AayakarBhavan, Lower Parel, Mumbai-400020. Mumbai -400013. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACW0744L Appellant .. Respondent ITA No. 5483/Mum/2016 (2009-10) ITA No. 5044/Mum/2016 (2011-12) DCIT, Central Circle - Vs. M/s.Welspun Corp Ltd 22, (Now…

ITO, Ward-3(3)(1), Ahmedabad vs. Shri Ashesh Sidharth Agarwal, Ahmedabad

In the result, Revenue’s appeal is allowed for statistical purpose

ITA 1004/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad31 Oct 2022AY 2012-13

Bench: Shri Pramod M. Jagtap & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 1004/Ahd/2018 (िनधार्रण वषर् / Assessment Year : 2012-13) बनाम/ Income Tax Officer Shri Ashesh Sidharth Agarwal Ward-3(3)(1), Ahmedabad Vs. D-804, Awari Flats, B/H Karnavati Bunglow, S. G. Highway, Satellite, Ahmedabad - 380015 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Afwpa2415A (अपीलाथीर् /Appellant) (प्र"यथीर् / Respondent) .. अपीलाथीर् ओर से /Appellant By : Shri V. K. Mangla, Sr.D.R. प्र"यथीर् की ओर से/Respondent By : Shri Tushar Hemani, Sr. Advocate & Shri Parimalsinh B. Parmar, A.R. सुनवाई की तारीख / Date Of 07/09/2022 Hearing घोषणा की तारीख /Date Of 31/10/2022 Pronouncement

For Appellant: Shri V. K. Mangla, Sr.D.RFor Respondent: Shri Tushar Hemani, Sr. Advocate &
Section 142(1)Section 143(2)Section 143(3)Section 80C

…assessee, reliance was placed on the judgment passed by the Hon’ble Apex Court in the matter of Anantharam Veerasinghaiah & Co. vs. CIT, reported in (1980) 123 ITR 457 (SC) & Hon’ble High Courts in CIT vs. K. S. M. Guruswamy Nadar & Sons., reported in (1984) 149 ITR 127 (MAD), CIT vs. Ram Sanehi Gian Chand (1972) 86 ITR 7224 (P&H), Pioneer Publicity Corpn. & Ors. DCIT, reported in (2000) 67 TTJ 471 (Delhi). 6. A remand report dated 05.05.2017 was sought for by the Ld.CIT(A) on the basis of the evidences placed before the First Appellate Authority. Finally, the Ld.CIT(A) deleted the addition of Rs.5,10,00,700/-…

Mrs. Stella Suresh Srivastava, Mysuru vs. Assistant Commissioner of Income Tax, Circle-1(1) & Tps, Mysore

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 647/BANG/2021[2016-17]Status: DisposedITAT Bangalore30 May 2022AY 2016-17

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy Sassessment Year : 2016-17

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri Sankar Ganesh K., Jt.CIT(DR)(ITAT), Bengaluru
Section 234Section 69

…ed for a period of two years. The ITO should have Page 7 of 8 given an opportunity to the assessee to substantiate his assertions as to the source of his capital outlay.' 7.2 The Hon'ble Madras High Court, in the case of CIT vs. K.S.M.Guruswamy Nadar & Sons (149 ITR 127) after referring to decision of Hon'ble Apex Court in the case of CIT vs. Nelliappan (66 ITR 722) upheld the telescoping of business profits (suppressed) with addition of cash credit. The Hon'ble Madras High Court in the case of S.Kuppuswami Mudaliar vs. CIT (51 ITR 757) held that amount added to income in earlier years on estimate basis is to be…

M/S. Hindustan Marble and Granite, Bangalore vs. The Assistant Commissioner of Income Tax, Central Circle - 2(1), Bangalore

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

ITA 871/BANG/2019[2015-16]Status: DisposedITAT Bangalore18 Nov 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2015-16

For Appellant: Shri L. Bharath, A.RFor Respondent: Shri Priyadarshi Mishra, D.R
Section 132Section 139(1)

…oup of concerns would be made use of by either concern without any restriction. This very fact has not been contradicted by the Revenue. 9.4. We shall now have a glimpse of legal position on this issue. “(i) CIT v. K.S.M.Guruswamy Nadar And Sons reported in 149 ITR 127 (Mad). The issue before the Hon'ble Court was that "The assessee a firm running a hotel. It filed return showing G.P. rate at 5.5%. Also shown certain credits a loans from Hundi Bankers. Question whether the Tribunal was right in law in holding that the two separate additions made, (i) for deficiency of gross profit, and (ii) for unproved cash c…

M/S A. Atulkumar & Co., Rajkot-Gujarat vs. The Dy.Commr. of Income Tax, Cen. Cir.-3, Rajkot-Gujarat

In the result, the appeal of the assessee is allowed

ITA 389/RJT/2016[2014-15]Status: DisposedITAT Rajkot28 Feb 2020AY 2014-15

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./I.T.A. No.389/Rjt/2016 ("नधा"रण वष" / Assessment Year 2014-15) बनाम/ M/S. A. Atulkumar & Co., D.Ci.T., Soni Bazar, Mandvi Chowk, Central Circle-3, Vs. Kamdar Street, Opp. Shalin Rajkot. Chamber, Rajkot.

For Appellant: Shri Kalpesh Doshi, A.RFor Respondent: Ms Namita Khurana, Sr. D.R
Section 234ASection 271A

…(Guj.) • Jagmohan Singh Arora & Others 101 TTJ 682 (Mum.) • ACIT vs. Shri Badri Ram Choudhary (Co-ordinate Bench of Jodhpur) (118 TT J 0492) • ACIT vs. Shri Mahendra B. Kataria (ITAT Ahmedabad) (268/Ahd/2010) • CIT v. K. S. M. Guruswamy Nadar and Sons (1984) 149 ITR 127 (Mad.) • CIT V. Singhal Industrial Corporation 303 ITR 225(Allahbad) • Kantilal & Bras V. ACIT 52 ITO 412 (Pune IT AT) • Sanjay Kumar Jain V. CIT 254 ITR 38 (HC of Cal.)” 6. On the other hand the learned DR vehemently supported the order of the authorities below. A.Y.2014-15 7. We have heard the rival contentions of both the parties and perused…