CIT v. Kamdhenu Steel & Alloys Ltd.

361 ITR 220High Court2014#233 most cited

What is CIT v. Kamdhenu Steel & Alloys Ltd. authority for?

When making an addition under section 68, the creditworthiness or financial strength of an investor contributing share capital or share application money can be proved by producing their bank statements showing sufficient balance for the investment. The Supreme Court dismissed the SLP against this decision.

328

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2013 to 2026.

Also referred to as

CIT v. Kamdhenu Steel & Alloys Ltd. · Section 68 · creditworthiness of creditor · share application money · share capital · bank statement as proof · financial strength of investor · unexplained cash credit · addition under section 68

Also reported as

248 CTR 3319 Taxmann.com 2668 DTR 38

Sections most often in play

Section 147Section 68Section 143(3)Section 148Section 131Section 133(6)Section 142(1)Section 143(2)

Issues it is cited on

share capital and share premiumsource of sourcepaper companycreditworthiness of the creditorsection 31live linksection 251(2)share application moneyaddition u/s 68section 251(1)(a)entry operatoradmission of additional evidence

Judgments citing CIT v. Kamdhenu Steel & Alloys Ltd.

Narayan Suppliers Pvt. Ltd., Kolkata vs. I.T.O., Ward - 6(3), Kolkata

In the result, appeal of the assessee is dismissed

ITA 1077/KOL/2024[2011-2012]Status: DisposedITAT Kolkata08 Sept 2025AY 2011-2012

Bench: Shri George Mathan & Shri Rakesh Mishra

For Appellant: Shri Avijit Ghoshal, ARFor Respondent: Shri Raja Sengputa, CIT-DR
Section 10(38)

…Engineering Udyog (P.) Limited v. DCIT (2016) 382 ITR 443 (Del). 10. Agya Ram v. CIT (2016) 386 ITR 545 (Del). 11. Rajiv Agarwal v. ACIT (decision dated 16th March, 2016 in Writ Petition (Civil) No. 9659 of2015). 12. CIT v. Kamdhenu Steel & Alloys Ltd. (2012) 248 CTR 33 (Del)(HC). 13. CIT v. Multiplex Trading & Industrial Co Ltd (2015) 128 DTR 217 (Del) (HC). 14. CIT vs. Fair Invest Ltd. (2013) 357 ITR 146 (Del.) (HC). 15. Pr. CIT vs. SNG Developers Ltd. [2018] 404 ITR 312 (Del.) (HC). 16. PCIT vs. Shodiman Investments Pvt. Ltd, (2018) 93 taxmann.com 153/167 DTR 290 (Bom.)(HC). 17. In the case of ACIT v. Dhariya…

Laurels Properties Private Limited, Delhi vs. DCIT CC-1(4), Mumbai

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

ITA 1179/MUM/2025[2015-16]Status: DisposedITAT Mumbai05 Sept 2025AY 2015-16

Bench: Hon’Ble Shri Sandeep Gosain & Shri Prabhash Shankar

Section 143(3)Section 250

…ct by merely acting mechanically on the information supplied by investigation wing and has not conducted any independent inquiry of its own. In this regard reliance has been placed upon the decision in the case of CIT vs. Kamdhenu Steel and Alloys Ltd. (2012) 248 CTR 33, wherein the Hon'ble Delhi High Court has held that ‘reassessment merely on the basis of report of the Investigation wing is held to be not valid'. 10. We further noticed that the assessee vide letter dated 08.02.2022, also requested the AO to provide the following documents as relied upon by the AO: i. Copy of information report received from the…

Basant Aerospace Private Limited, New Delhi vs. ACIT Central Circle-5, New Delhi

In the result, the appeal of the Assessee for assessment year 2016-17

ITA 2292/DEL/2023[2016-17]Status: DisposedITAT Delhi23 Jul 2025AY 2016-17

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri V. K. Agarwal, AdvFor Respondent: Shri Ajay Kumar Arora, Sr. DR
Section 131Section 133Section 143(1)Section 147Section 148Section 68

…it worthiness of the lender to advance loan to ITA Nos. 520 & 2292/Del/2023 M/s. Basant Aerospace Pvt. Ltd the Assessee company. In this regard, we find that the Hon’ble Jurisdictional High Court in the case of CIT vs Kamadhenu Steel & Alloys Ltd reported in 361 ITR 220 (Del) had held that creditworthiness or financial strength of the investor could be proved by producing the bank statement of the investor showing that it had sufficient balance in its bank to make the investment. The Special Leave Petition (SLP) preferred by the revenue before the Hon’ble Supreme Court against this decision was dismissed in CC 1…

Basant Aerospace Pvt Ltd, New Delhi vs. ACIT Central Circle-5, New Delhi

In the result, the appeal of the Assessee for assessment year 2016-17

ITA 520/DEL/2021[2012-13]Status: DisposedITAT Delhi23 Jul 2025AY 2012-13

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri V. K. Agarwal, AdvFor Respondent: Shri Ajay Kumar Arora, Sr. DR
Section 131Section 133Section 143(1)Section 147Section 148Section 68

…it worthiness of the lender to advance loan to ITA Nos. 520 & 2292/Del/2023 M/s. Basant Aerospace Pvt. Ltd the Assessee company. In this regard, we find that the Hon’ble Jurisdictional High Court in the case of CIT vs Kamadhenu Steel & Alloys Ltd reported in 361 ITR 220 (Del) had held that creditworthiness or financial strength of the investor could be proved by producing the bank statement of the investor showing that it had sufficient balance in its bank to make the investment. The Special Leave Petition (SLP) preferred by the revenue before the Hon’ble Supreme Court against this decision was dismissed in CC 1…

Income Tax Officer, New Delhi vs. Anil Kumar Bhakkar, Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 4769/DEL/2024[2017-18]Status: DisposedITAT Delhi18 Jul 2025AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahmanincome Tax Officer, Vs. Anil Kumar Bhakkar, New Delhi. E – 99 – B, Mansarover Garden, Delhi – 110 015. (Pan : Aampb0474B) (Appellant) (Respondent) Assessee By : Shri Ashok Agarwal, Ca Revenue By : Shri Rajesh Tiwari, Sr. Dr Date Of Hearing : 20.05.2025 Date Of Order : 18.07.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 23.09.2024 For Assessment Year 2017-18. 2. Brief Facts Of The Case Are, Assessee Filed Its Return Of Income On 27.10.2017 Declaring An Income Of Rs.9,65,820/-. The Case Was Selected For Complete Scrutiny Through Cass. Based On The Information Available With The Revenue That Assessee Has Deposited Cash Of Substantial Amount As Compared

For Appellant: Shri Ashok Agarwal, CAFor Respondent: Shri Rajesh Tiwari, Sr. DR
Section 143(2)Section 145(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER and SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Income Tax Officer, vs. Anil Kumar Bhakkar, New Delhi. E – 99 – B, Mansarover Garden, Delhi – 110 015. (PAN : AAMPB0474B) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Ashok Agarwal, CA REVENUE BY : Shri Rajesh Tiwari, Sr. DR Date of Hearing : 20.05.2025 Date of Order : 18.07.2025 O R D E R PER S.RIFAUR RAHMAN, ACCOUNTANT MEMBER : 1. This appeal is filed by the assessee against the order of ld. Commissioner of Income-tax (Appeals)/National Faceless Appeal Cen…

Jaiprakash Yadav, Alwar vs. Income Tax Officer, WD, Behror

In the result, the appeal of the assessee is allowed

ITA 18/JPR/2025[2016-17]Status: DisposedITAT Jaipur15 Jul 2025AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Shri Pranav Yadav, Adv. (Thr.VC)For Respondent: Shri Gaurav Awasthi, JCIT, Sr. DR
Section 147Section 148Section 151Section 56(2)(vii)Section 69Section 69A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 18/JP/2025 fu/kZkj.k o"kZ@Assessment Year : 2016-17 cuke Jaiprakash Yadav ITO, Vs. NH 8 Near Maharaja Hotel Ward, Behror Dughera, Dooghera, Alwar LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ANQPY8792C vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Pranav Yadav, Adv. (Thr.VC) jktLo dh vksj ls@ Revenue by :…

Avt Homes Private Limited vs. ITO Ward 1(1), Fbd

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

ITA 1427/DEL/2024[2016-17]Status: DisposedITAT Delhi04 Jun 2025AY 2016-17

Bench: Shri S.Rifaur Rahman

For Appellant: Shri Rajiv Saxena, AdvocateFor Respondent: Shri Sanjay Kumar, Sr. DR
Section 133(6)Section 142(1)Section 143(1)Section 145Section 68

…| disclose<br>the<br>source<br>of<br>the<br>amount received but it has to<br>be<br>conclusively<br>established<br>that<br>a<br>company<br>is<br>non<br>existence.<br>CIT<br>vs.<br>Kamdhenu<br>Steel<br>and Alloys 361 ITR 220 (PB<br>II, Pg 57-78)<br>PCIT v Agson Global (P.)<br>Ltd. (Delhi HC) [2022] 441<br>ITR 550<br>PCIT v Manoj Kumar Vipin<br>Kumar (Rajasthan HC)/[2022]<br>441 ITR 632<br>PCIT V. Kautilya Monetary<br>Services<br>(P)<br>Ltd.<br>(ITA<br>602/2019<br>dated<br>10.07.2019)<br>HC (Delhi)<br>Pr. CIT vs M/s N.C. Cables<br>Ltd. ITA No. 335/2015 (Del)<br>333 IT…

DCIT, Circle- 7(1), New Delhi vs. Delhi Automobiles Ltd., New Delhi

In the result, the appeal of Revenue is dismissed

ITA 5945/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Jun 2025AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumarassessment Year: 2012-13 Dcit, Vs. Delhi Automobiles Ltd., Circle-7(1), 14-C, Sagar Apartments, New Delhi 6 Tilak Marg, Pin 1100 02 New Delhi Pin: 1100 01 Pan No. Aabcd7933P (Appellant) (Respondent)

For Appellant: S/Shri Salil Kapoor, SumitFor Respondent: Shri Surender Pal, CIT, DR
Section 142(1)Section 143(2)Section 143(3)Section 250(6)Section 68

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Assessment Year: 2012-13 DCIT, Vs. Delhi Automobiles Ltd., Circle-7(1), 14-C, Sagar Apartments, New Delhi 6 Tilak Marg, PIN 1100 02 New Delhi PIN: 1100 01 PAN No. AABCD7933P (Appellant) (Respondent) Assessee by: S/Shri Salil Kapoor, Sumit Lalchandani, Shivam Yadav, Advs. and Nischay Khandelwal, CA Department by: Shri Surender Pal, CIT, DR Date of Hearing: 06.03.2025 Date of pronouncement: 04.06.2025 O R D E R PER VIMAL KUMAR, JUDICIAL MEMBER: The appeal filed by the Revenu…

Sjvn Foundation, Shanan Malyana vs. CIT(Exemptions), Chandigarh

In the result, the assessee's appeal is allowed for statistical purposes

ITA 1057/CHANDI/2024[2024-25]Status: DisposedITAT Chandigarh27 May 2025AY 2024-25

Bench: The Expiry Of The Earlier Approval In Accordance With Section 80G(5)(Ii).

For Appellant: Shri Anil Kumar Sood, C.AFor Respondent: Smt. Kusum Bansal, CIT, DR (Virtual Mode)
Section 12ASection 12A(1)(ac)Section 12A(1)(b)Section 80GSection 80G(5)(ii)

…ld that procedural defects such as selection of an incorrect clause in the prescribed form for approval under section 12A or section 80G are not fatal and are curable. Some of the relevant decisions are:  DIT (Exemption) v. Guru Nanak Education Trust [(2014) 361 ITR 22 (Delhi)] – The Hon’ble Delhi High Court held that procedural lapses should not result in denial of approval under section 80G if the substantive conditions are satisfied. The authority must permit rectification.  Khar Gymkhana v. DIT (Exemptions) [(2016) 385 ITR 162 (Bom)] – The Bombay High Court held that the rejection of an application under se…

DCIT-3(1), Bhopal vs. Manidhari Jewellers, Bhopal

The appeal are allowed

ITA 533/IND/2024[2017-18]Status: DisposedITAT Indore09 May 2025AY 2017-18

Bench: Bhagirath Mal Biyani & Shri Paresh M Joshidcit-3(1), Manidhari Jewellers, बनाम/ Bhopal Room No.202, Vs. Metro Walk Bulding, Bitten Market, Arera Colony, Bhopal (Pan: Abafm6546L) (Revenue) (Respondent) Assessee By Shri Yashwant Sharma, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 01.05.2025 Date Of Pronouncement 09.05.2025 आदेश/ O R D E R

Section 04Section 139Section 143(3)Section 147Section 148Section 24Section 25Section 250Section 253

…ssessee. Once the assesse has submitted the documents relating to the genuineness of the transaction, then AO must conduct inquiry, and call for more detail before invoking provisions of section 68. In the decision of CIT vs Kamdhenu Steel & Alloys Ltd. [2012]19 Taxmann.com 26, wherein : *38. Even in the instant case, it is projected by the Revenue that the DIT(Investigation) had purportedly found such a racket of floating bogus companies with sole purpose of lending entries. But, it is unfortunate that all this exercise is going in vain as few more steps which should have been taken by Revenue in order to find…

Kumar Ramesh Sahu, Rajkot, Gujarat vs. ACIT, Circle-2(2), Rajkot, Gujarat

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 336/RJT/2023[2009-10]Status: DisposedITAT Rajkot04 Apr 2025AY 2009-10

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./I.T.A. No.336/Rjt/2023 (िनधा"रण वष" / Assessment Year : 2009-10) Kumar Ramesh Sahu बनाम/ The Acit, Sundaram, 72/3, New Cirtcle-2(3) Vs. College Wadi Rajkot – 60 001 150Ft5. Ring Road Opp. Meera Apartment Rajkot – 360 005 (Gujarat) "ायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aesps 5531 C (अपीलाथ" /Appellant) (""थ" / Respondent) .. Assessee By : Shri M.N. Manvar, Ld. Ar Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr. Dr सुनवाई की तारीख / Date Of Hearing 13/01/2025 घोषणा की तारीख /Date Of Pronouncement 04/04/2025 आदेश / O R D E R Per Dinesh Mohan Sinha:

For Appellant: Shri M.N. Manvar, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 143(1)Section 143(3)Section 147Section 148Section 271(1)Section 54Section 68

…etween material and belief and (f) the reasons referred must show application of mind by the Ld. AO and not someone else." 11. Reliance is placed on following decisions: (a) Hon'ble High Court of Delhi in the case of CIT vs. Kamdhenu Steel & Alloys Ltd (2012) 248 CTR 33 (Delhi) (b) Hon'ble High Court of Delhi in the case of CIT vs. SFIL Stock Broking Ltd., (c) Hon'ble High Court of Delhi in the case of Signature Hotels (P) Ltd. vs. ITO(W.P.(C) No. 8067 of 2010 dated 21-7-2011) (d) DCIT vs. Mrs. Rainee Singh 125 TTJ(Del) 816 ITA No.336 /RJT/2023 Kumar Ramesh Sahu vs. ACIT Asst.Year - 2009-10 (e) Sterlite Indu…

Deputy Commissioner of Income Tax, Agra vs. Basant Infracon Pvt. Ltd., Agra

ITA 134/AGR/2024[2018-19]Status: DisposedITAT Agra28 Mar 2025AY 2018-19

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.133/Agr/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपीलसं./ Ita No.134/Agr/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit M/S Basant Infracon Pvt. Ltd. बनाम/ 1Sr Floor, Aayakar Bhawan 1/354, Transport Nagar, Vs. Sanjay Place, Agra-282002. Agra. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaecb-7861-P (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Shri Sukesh Kumar Jain Cit – Ld. Dr ""थ"कीओरसे/Respondent By : Shri Anurag Sinha (Advocate) – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 21-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 28-03-2025 आदेश / O R D E R

For Appellant: Shri Sukesh Kumar Jain CIT – Ld. DRFor Respondent: Shri Anurag Sinha (Advocate) – Ld. AR
Section 131(1)(d)Section 133(6)Section 143(3)Section 153ASection 68

…s. No efforts were made by Ld. AO to conduct field enquiries as per addresses as given on MCA portal and he simply relied on the findings given in earlier assessment order. The Hon’ble Delhi High Court in the case of CIT Vs Kamdhenu Steel & Alloys Ltd. [2012] 19 Taxmann.com 26 (Delhi) held that the conclusion about non-existence of the Company cannot be formed without making enquiry from the…

Deputy Commissioner of Income Tax, Agra vs. Basant Infracon Private Limited, Agra

ITA 133/AGR/2024[2017-18]Status: DisposedITAT Agra28 Mar 2025AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.133/Agr/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपीलसं./ Ita No.134/Agr/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit M/S Basant Infracon Pvt. Ltd. बनाम/ 1Sr Floor, Aayakar Bhawan 1/354, Transport Nagar, Vs. Sanjay Place, Agra-282002. Agra. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaecb-7861-P (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Shri Sukesh Kumar Jain Cit – Ld. Dr ""थ"कीओरसे/Respondent By : Shri Anurag Sinha (Advocate) – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 21-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 28-03-2025 आदेश / O R D E R

For Appellant: Shri Sukesh Kumar Jain CIT – Ld. DRFor Respondent: Shri Anurag Sinha (Advocate) – Ld. AR
Section 131(1)(d)Section 133(6)Section 143(3)Section 153ASection 68

…s. No efforts were made by Ld. AO to conduct field enquiries as per addresses as given on MCA portal and he simply relied on the findings given in earlier assessment order. The Hon’ble Delhi High Court in the case of CIT Vs Kamdhenu Steel & Alloys Ltd. [2012] 19 Taxmann.com 26 (Delhi) held that the conclusion about non-existence of the Company cannot be formed without making enquiry from the…

Dy. Commissioner of Income Tax, Agra vs. Nbc Agri International Pvt. Ltd., New Delhi

ITA 129/AGR/2024[2018-19]Status: DisposedITAT Agra28 Mar 2025AY 2018-19

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.128/Agr/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपीलसं./ Ita No.129/Agr/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit M/S Nbc Agri International Pvt. Ltd. बनाम/ 1Sr Floor, Aayakar Bhawan Flat No.359, Block C4C, Pocket-14 Sanjay Place, Agra-282002. Ground Floor, Janakpuri Vs. New Delhi "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcn-1488-D (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Sukesh Kumar Jain Cit – Ld. Dr ""थ"कीओरसे/Respondent By : Shri Anurag Sinha (Advocate) – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 21-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 28-03-2025 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Sukesh Kumar Jain CIT – Ld. DRFor Respondent: Shri Anurag Sinha (Advocate) – Ld. AR
Section 133(6)Section 143(3)Section 153ASection 68

…s. No efforts were made by Ld. AO to conduct field enquiries as per addresses as given on MCA portal and he simply relied on the findings given in earlier assessment order. The Hon’ble Delhi High Court in the case of CIT Vs Kamdhenu Steel & Alloys Ltd. [2012] 19 Taxmann.com 26 (Delhi) held that the conclusion about non-existence of the Company cannot be formed without making enquiry from the…

Dy. Commissioner of Income Tax, Agra vs. Nbc Agri International Pvt. Ltd., New Delhi

ITA 128/AGR/2024[2017-18]Status: DisposedITAT Agra28 Mar 2025AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.128/Agr/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपीलसं./ Ita No.129/Agr/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit M/S Nbc Agri International Pvt. Ltd. बनाम/ 1Sr Floor, Aayakar Bhawan Flat No.359, Block C4C, Pocket-14 Sanjay Place, Agra-282002. Ground Floor, Janakpuri Vs. New Delhi "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcn-1488-D (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Sukesh Kumar Jain Cit – Ld. Dr ""थ"कीओरसे/Respondent By : Shri Anurag Sinha (Advocate) – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 21-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 28-03-2025 आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Shri Sukesh Kumar Jain CIT – Ld. DRFor Respondent: Shri Anurag Sinha (Advocate) – Ld. AR
Section 133(6)Section 143(3)Section 153ASection 68

…s. No efforts were made by Ld. AO to conduct field enquiries as per addresses as given on MCA portal and he simply relied on the findings given in earlier assessment order. The Hon’ble Delhi High Court in the case of CIT Vs Kamdhenu Steel & Alloys Ltd. [2012] 19 Taxmann.com 26 (Delhi) held that the conclusion about non-existence of the Company cannot be formed without making enquiry from the…

Prerna Agency Pvt Ltd, Kolkata vs. Income Tax Officer, Ward 2(1), Patna

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

ITA 285/PAT/2023[2013-2014]Status: DisposedITAT Patna26 Mar 2025AY 2013-2014

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(2)Section 143(3)Section 147Section 148Section 151

…e has cited the following decisions: i) Sheo Nath Singh vs. AACIT (1971) 82 ITR 147 (SC) ii) ITO vs. Lakhmani Mewal Das [1976] 103 ITR 437 (SC) iii) New Delhi Television Ltd. vs. DCIT [2020] 424 ITR 607 (SC) iv) CIT vs. Kamdhenu Steels & Alloys Ltd. [2014]361 ITR 220(Delhi) 7. Contrary to that the Ld. D.R supports the impugned order. 4 I.T.A. No. 285/pat/2023 Assessment Year: 2013-14 Prerna Agency Pvt. Ltd. 8. Upon hearing the submission of the counsel of the respective parties, we have perused the facts of the case and order passed by the lower authorities. The first contention of the ld. Counsel of the a…

ACIT, Central Circle- 15, New Delhi vs. Juicy Beverages Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 2254/DEL/2018[2014-15]Status: HeardITAT Delhi21 Mar 2025AY 2014-15

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.2254/Del/2018 िनधा"रणवष"/Assessment Year:2014-15 बनाम Acit, Juicy Beverages Pvt. Ltd., Central Circle-15, Vs. 1643, Sector-B, Pocket-1, Room No.353, E-2, Ara Centre, Vasant Vihar, New Delhi. Jhandewalan Extn., New Delhi. Pan No.Aaacj9570D अपीलाथ" Appellant ""यथ"/Respondent

Section 132Section 153ASection 68

…ITA No.2254/Del/2018 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C” NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER आ.अ.सं/.I.T.A No.2254/Del/2018 िनधा"रणवष"/Assessment Year:2014-15 बनाम ACIT, Juicy Beverages Pvt. Ltd., Central Circle-15, Vs. 1643, Sector-B, Pocket-1, Room No.353, E-2, ARA Centre, Vasant Vihar, New Delhi. Jhandewalan Extn., New Delhi. PAN No.AAACJ9570D अपीलाथ" Appellant ""यथ"/Respondent Revenue by Shri Rajesh Mahajan, Sr. DR Assessee by Shri V.K. Aggarwal, AR सुनवाईक"तारीख/ Date of hearing: 21.03.2025 21.03.2025 उ"ोषणाक"तारीख/Pronoun…

Winsome Textile Industries Limited, Chandigarh vs. Asstt. Commissioner of Income Tax, Circle-4(1), Chandigarh

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

ITA 528/CHANDI/2024[2011-12]Status: DisposedITAT Chandigarh27 Feb 2025AY 2011-12

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Shri Ved Parkash Kalia Sr. DR
Section 115JSection 143(1)Section 143(3)Section 147Section 148

…378 ITR 351 (Delhi) (HC)  SABH Infrastructure vs ACIT WP(C) No. 1357/2016 DATED 25/09/2017  CIT v. Insecticides (India) Ltd. (2013) 357 ITR 300 (Delhi)(HC)  CIT v. Fair Invest Ltd. (2013) 357 ITR 146 (Delhi)(HC)  CIT v. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi)(HC)  Sarthak Securities Co. (P.) Ltd. v. ITO (2010) 329 ITR 110 (Delhi)(HC)  CIT v. Indo Arab Air Services (2016) 130 DTR78/ 283 CTR 92 (Delhi)(HC)  Sesa Sterlite Ltd. v. ACIT (2019) 417 ITR 334 / 267 Taxman275 (Bom.)(HC)  Nu Power Renewables (P.) Ltd. v. ACIT (2019) 264 Taxman 27 (Mag.)(Bom.)(HC) 15. It was further submitted that in…

Kundan Singh Thakur, Raipur vs. ITO-4(1), Raipur (Erstwhile ITO-4(5), Raipur

ITA 477/RPR/2024[2015-16]Status: DisposedITAT Raipur12 Feb 2025AY 2015-16

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं. / Ita No: 477/Rpr/2024 (िनधा"रण वष" Assessment Year: 2015-16)

For Appellant: Shri R. B. Doshi, CAFor Respondent: Smt. Tarannum Verma, Sr. DR
Section 127Section 142(1)Section 143Section 143(2)Section 250Section 68Section 69

…n to deliberate upon the additional evidence furnished by the assessee, which were not available there before the lower authorities. Our view is supported with the observation of Hon’ble Delhi High Court in the case CIT Vs. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi), that it is not for the Tribunal to start investigation, as it is only to see as to whether the additions are sustainable and there is adequate material to support the same; and if not the addition is to be deleted. Respectfully following the view of Hon’ble Delhi High Court in the aforesaid judgment, we are not inclined to examine or ver…

Ms. Natasha Chopra, Delhi vs. DCIT, Circle-16(1), Delhi

In the result, the appeal of the Assessee for assessment year 2016-17

ITA 2292/DEL/2024[2020-21]Status: HeardITAT Delhi03 Feb 2025AY 2020-21

Bench: Shri C. N. Prasad & Shri M. Balaganesh

For Appellant: Shri V. K. Agarwal, AdvFor Respondent: Shri Ajay Kumar Arora, Sr. DR
Section 131Section 133Section 143(1)Section 147Section 148Section 68

…it worthiness of the lender to advance loan to ITA Nos. 520 & 2292/Del/2023 M/s. Basant Aerospace Pvt. Ltd the Assessee company. In this regard, we find that the Hon’ble Jurisdictional High Court in the case of CIT vs Kamadhenu Steel & Alloys Ltd reported in 361 ITR 220 (Del) had held that creditworthiness or financial strength of the investor could be proved by producing the bank statement of the investor showing that it had sufficient balance in its bank to make the investment. The Special Leave Petition (SLP) preferred by the revenue before the Hon’ble Supreme Court against this decision was dismissed in CC 1…