CIT v. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction (387 ITR 523)

Adhyatm Jain Prop. M/S Jambu Kumar Adhyatam Jain Saraf, Lucknow vs. Dy. Commissioner of Income Tax, Central Circle-2, Lucknow

In the result, all the appeal of the assessee is allowed

ITA 787/LKW/2024[2015-16]Status: HeardITAT Lucknow06 May 2025AY 2015-16

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 132Section 153ASection 153DSection 250Section 68

…, when no incriminating material was found at the time of search u/s 132 of the IT Act, was a disputed issue in the past. While a view in favour of assessee was taken, for example, in cases such as CIT vs. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction 387 ITR 523 (Guj), CIT vs. Continental Warehousing 374 ITR 645 (Bom.), Smt. Jami Nirmala vs. Pr.CIT 437 ITR 673 (Orissa), CIT vs. Veerprabhu Marketing Ltd. 388 ITR 574 (Cal.), Pr.CIT vs. Delhi International Airport (P.) Ltd. 443 ITR 574 (Kar.), Pr.CIT vs. Meeta Gutgutia 395 ITR 526 (Delhi), Dr. A. V. Sreekumar vs. CIT 404 ITR 642 (Ker.), Pr. CIT vs. Smt. Dak…

Ocean Dream Infrastructure Pvt Ltd, Lucknow vs. Deputy Commissioner of Income Tax Central Circle-1, Lucknow

In the result, both the appeals of the assessee are allowed for statistical purposes

ITA 146/LKW/2023[2013-14]Status: DisposedITAT Lucknow21 Jan 2025AY 2013-14

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

For Appellant: Shri Akshay Agrawal, AdvFor Respondent: Shri Sanjeev Krishna Sharma, Addl

Section 132Section 144Section 153ASection 68

…, when no incriminating material was found at the time of search u/s 132 of the IT Act, was a disputed issue in the past. While a view in favour of assessee was taken, for example, in cases such as CIT vs. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction 387 ITR 523 (Guj), CIT vs. Continental Warehousing 374 ITR 645 (Bom.), Smt. Jami Nirmala vs. Pr.CIT 437 ITR 673 (Orissa), CIT vs. Veerprabhu Marketing Ltd. 388 ITR 574 (Cal.), Pr.CIT vs. Delhi International Airport (P.) Ltd. 443 ITR 574 (Kar.), Pr.CIT vs. Meeta Gutgutia 395 ITR 526 (Delhi), Dr. A. V. Sreekumar vs. CIT 404 ITR 642 (Ker.), Pr. CIT vs. Smt. Dak…

Shashi Agarwal, Lucknow vs. DCIT-1, Lucknow

In the result, these two appeals are treated as allowed for statistical purposes

ITA 199/LKW/2023[2016-17]Status: DisposedITAT Lucknow07 Oct 2024AY 2016-17

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 132Section 144Section 153ASection 68Section 69Section 69C

…, when no incriminating material was found at the time of search u/s 132 of the IT Act, was a disputed issue in the past. While a view in favour of assessee was taken, for example, in cases such as CIT vs. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction 387 ITR 523 (Guj), CIT vs. Continental Warehousing 374 ITR 645 (Bom.), Smt. Jami Nirmala vs. Pr.CIT 437 ITR 673 (Orissa), CIT vs. Veerprabhu Marketing Ltd. 388 ITR 574 (Cal.), Pr.CIT vs. Delhi International Airport (P.) Ltd. 443 ITR 574 (Kar.), Pr.CIT vs. Meeta Gutgutia 395 ITR 526 (Delhi), Dr. A. V. Sreekumar vs. CIT 404 ITR 642 (Ker.), Pr. CIT vs. Smt. Dak…

Shashi Agarwal, Lucknow vs. DCIT, Central Circle-1, Lucknow

In the result, these two appeals are treated as allowed for statistical purposes

ITA 198/LKW/2023[2015-16]Status: DisposedITAT Lucknow07 Oct 2024AY 2015-16

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 132Section 144Section 153ASection 68Section 69Section 69C

…, when no incriminating material was found at the time of search u/s 132 of the IT Act, was a disputed issue in the past. While a view in favour of assessee was taken, for example, in cases such as CIT vs. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction 387 ITR 523 (Guj), CIT vs. Continental Warehousing 374 ITR 645 (Bom.), Smt. Jami Nirmala vs. Pr.CIT 437 ITR 673 (Orissa), CIT vs. Veerprabhu Marketing Ltd. 388 ITR 574 (Cal.), Pr.CIT vs. Delhi International Airport (P.) Ltd. 443 ITR 574 (Kar.), Pr.CIT vs. Meeta Gutgutia 395 ITR 526 (Delhi), Dr. A. V. Sreekumar vs. CIT 404 ITR 642 (Ker.), Pr. CIT vs. Smt. Dak…

Income Tax Officer 8(1)(4), Mumbai vs. M/S.Quest 2 Travel.Com India Private Limited, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1527/MUM/2018[2011-12]Status: DisposedITAT Mumbai01 Sept 2022AY 2011-12

Bench: Shri Om Prakash Kant() & Smt. Kavitha Rajagopal () Ito 8(1)(4), Mumbai Vs M/S Quest 2 Travel.Com India Pvt Ltd 28Th Floor, The Ruby, Senapati Bapat Room No.662, M.K. Road, Aayakar Bhavan, Mumbai-400 020 Marg, Dadar (West), Mumbai-400 028 Pan : Aaaco0519P Appellant Respondent

Section 139(1)Section 143(3)Section 250Section 43Section 43B

…account pertains to scheduled bank which is not admissible as per section 43B. 4. The Ld.AR, on the other hand, relied on the decision of Ld.CIT(A), who, in turn has relied on the decision of Hon’ble Calcutta High Court in the case of CIT vs Srikant Phumbhra 387 ITR 523 (Cal) which has held that on a similar issue where interest was debited by bank in OD account and was disallowed by the Assessing Officer, the issue was decided in favour of the assessee. The Ld.AR placed his reliance on the said decision and also relied on the order of the Ld.CIT(A). 5. Having heard both the learned representatives on ground 1 a…

Iceberg Foods Ltd., New Delhi vs. Addl.CIT, Special Range- 4, New Delhi

In the result the appeal of assessee is allowed

ITA 28/DEL/2018[2014-15]Status: DisposedITAT Delhi08 Sept 2021AY 2014-15

Bench: Sh. Anil Chaturvedi & Sh. Kuldip Singh(Through Video Conferencing) M/S. Iceberg Foods Ltd., Vs. Acit 1081, Aggarwal Millenium Special Range – 04, Tower-Ii, Netaji Subhash New Delhi Place, New Delhi – 110 034 Pan No. Aacca 6027 E (Appellant) (Respondent) Assessee By Shri Ved Jain, Adv. Shri Ashish Goel, Adv. Revenue By Ms. Anima Baranwal, Sr. D.R. Date Of Hearing: 17.08.2021 Date Of Pronouncement: 08.09.2021

Section 143(3)Section 43B

…when the interest amount was paid through overdraft/cash credit account, the disallowance made u/s 43B was set aside. He pointed to the copy of the order placed in the paper book. He also relied on the decision in the case of CIT vs. Shreekant Phumbhra (2016) 387 ITR 523 (Cal). He therefore submitted that the interest on Term Loan claim to having been paid by debit to CC Account results into actual 7 payment of interest on term loans and interest on CC Limit and LC Limit debited on month to month basis to CC Account and fresh credits in the CC Account more than the amount of interest is debit would result into a…

CIT v. Kabul Chawla (supra), Pr. CIT vs. Saumya Construction

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