CIT v. Madan Teatres Ltd.

260 CTR 75High Court2013#9122 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 271(1)(c)Section 50CSection 132Section 143(3)Section 153ASection 153CSection 270ASection 56(2)(vii)(b)

Issues it is cited on

section 270a(6)(a)section 270a(6)section 43caunder-reporting of incomepenalty under section 270asection 56(2)(vii)(b)penalty u/s 270asection 56(2)(vii)section 50cpenalty under section 271(1)(c)section 50furnishing inaccurate particulars

Judgments citing CIT v. Madan Teatres Ltd.

S RAMESH,TRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

ITA 3173/CHNY/2024[2017-18]Status: DisposedITAT Chennai06 Mar 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

For Appellant: Mr. Y.Sridhar, FCAFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 132Section 153CSection 250Section 270ASection 56(2)(vii)

…of estimation of fair market value by the valuation officer. In this context, the learned AR relied on the following judicial pronouncements:- ITA Nos.3169 to 3173/CHNY/2024 i) Hon’be High Court of Calcutta judgement in the case of CIT Vs Madan Teatres Ltd. (260 CTR 75) dated 15.05.2013. ii) ITAT., Mumbai decision in the case of M/s.Alrameez Construction P.Ltd.in ITA No.482/Mum/2023 vide order dated 12.06.2023. iii) ITAT., Delhi decision in the case of Shri Aswani Jaipaty Vs. DCIT in ITA No.276/Del/2018 vide order dated 11.07.2018. iv) ITAT., Mumbai decision in the case of Satyam Print House Vs.ACIT in ITA No.28…

S ASHOK,TIRUNELVEL vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

ITA 3172/CHNY/2024[2017-18]Status: DisposedITAT Chennai06 Mar 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

For Appellant: Mr. Y.Sridhar, FCAFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 132Section 153CSection 250Section 270ASection 56(2)(vii)

…of estimation of fair market value by the valuation officer. In this context, the learned AR relied on the following judicial pronouncements:- ITA Nos.3169 to 3173/CHNY/2024 i) Hon’be High Court of Calcutta judgement in the case of CIT Vs Madan Teatres Ltd. (260 CTR 75) dated 15.05.2013. ii) ITAT., Mumbai decision in the case of M/s.Alrameez Construction P.Ltd.in ITA No.482/Mum/2023 vide order dated 12.06.2023. iii) ITAT., Delhi decision in the case of Shri Aswani Jaipaty Vs. DCIT in ITA No.276/Del/2018 vide order dated 11.07.2018. iv) ITAT., Mumbai decision in the case of Satyam Print House Vs.ACIT in ITA No.28…

S MURUGESH,TIRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

ITA 3171/CHNY/2024[2017-18]Status: DisposedITAT Chennai06 Mar 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

For Appellant: Mr. Y.Sridhar, FCAFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 132Section 153CSection 250Section 270ASection 56(2)(vii)

…of estimation of fair market value by the valuation officer. In this context, the learned AR relied on the following judicial pronouncements:- ITA Nos.3169 to 3173/CHNY/2024 i) Hon’be High Court of Calcutta judgement in the case of CIT Vs Madan Teatres Ltd. (260 CTR 75) dated 15.05.2013. ii) ITAT., Mumbai decision in the case of M/s.Alrameez Construction P.Ltd.in ITA No.482/Mum/2023 vide order dated 12.06.2023. iii) ITAT., Delhi decision in the case of Shri Aswani Jaipaty Vs. DCIT in ITA No.276/Del/2018 vide order dated 11.07.2018. iv) ITAT., Mumbai decision in the case of Satyam Print House Vs.ACIT in ITA No.28…

S MAGESH,TIRUNELVELI vs. DCIT, CENTRAL CIRCLE-1(3), CHENNAI

In the result, appeals filed by the assessees are allowed

ITA 3170/CHNY/2024[2017-18]Status: DisposedITAT Chennai06 Mar 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

For Appellant: Mr. Y.Sridhar, FCAFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 132Section 153CSection 250Section 270ASection 56(2)(vii)

…of estimation of fair market value by the valuation officer. In this context, the learned AR relied on the following judicial pronouncements:- ITA Nos.3169 to 3173/CHNY/2024 i) Hon’be High Court of Calcutta judgement in the case of CIT Vs Madan Teatres Ltd. (260 CTR 75) dated 15.05.2013. ii) ITAT., Mumbai decision in the case of M/s.Alrameez Construction P.Ltd.in ITA No.482/Mum/2023 vide order dated 12.06.2023. iii) ITAT., Delhi decision in the case of Shri Aswani Jaipaty Vs. DCIT in ITA No.276/Del/2018 vide order dated 11.07.2018. iv) ITAT., Mumbai decision in the case of Satyam Print House Vs.ACIT in ITA No.28…

S. POTHYRAJ,TIUNELVELI vs. DCIT, CENTRAL CIRCLE01(3), CHENNAI

In the result, appeals filed by the assessees are allowed

ITA 3169/CHNY/2024[2017-18]Status: DisposedITAT Chennai06 Mar 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.: 3169/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Pothiraj, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acxpp-8538-R Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3170/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Mahesh, Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6890-K Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3171/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Murugesh Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax, Tirunelveli Town-627 006. Central Circle-1(3) Pan: Acvpm-6963-D Chennai. (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No.: 3172/Chny/2024 "नधा"रण वष"/Assessment Years: 2017-18 Shri S.Ashok Deputy Commissioner # 3, North Car Street, Vs. Of Income Tax

For Appellant: Mr. Y.Sridhar, FCAFor Respondent: Ms.Gouthami Manivasagam, JCIT
Section 132Section 153CSection 250Section 270ASection 56(2)(vii)

…of estimation of fair market value by the valuation officer. In this context, the learned AR relied on the following judicial pronouncements:- ITA Nos.3169 to 3173/CHNY/2024 i) Hon’be High Court of Calcutta judgement in the case of CIT Vs Madan Teatres Ltd. (260 CTR 75) dated 15.05.2013. ii) ITAT., Mumbai decision in the case of M/s.Alrameez Construction P.Ltd.in ITA No.482/Mum/2023 vide order dated 12.06.2023. iii) ITAT., Delhi decision in the case of Shri Aswani Jaipaty Vs. DCIT in ITA No.276/Del/2018 vide order dated 11.07.2018. iv) ITAT., Mumbai decision in the case of Satyam Print House Vs.ACIT in ITA No.28…

M/S MASCOT CONSTRUCTION PVT. LTD.,MUMBAI vs. INCOME TAX OFFICER, 2(2)(3)

In the result, the appeal of the assessee is allowed

ITA 2737/MUM/2024[2010-11]Status: DisposedITAT Mumbai31 Jul 2024AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Sunil Kumar Singh () Assessment Year: 2010-11 M/S Mascot Constructions Pvt. Ltd., Income-Tax Officer 2(2)(3), 3Rd Floor, Indian Mercantile Aayakar Bhavan, Vs. Chambers, 14R, Kamani Marg, Mumbai-400020. Ballard Estate, Mumbai-400001. Pan No. Aaccm 6531 H Appellant Respondent

For Appellant: Mr. Haridas Bhat
Section 143(3)Section 250Section 271(1)(c)Section 50C

…erred to the decision of the Hon’ble Ld. counsel for the assessee referred to the decision of the Hon’ble High Court of Calcutta Calcutta in the case of Commissioner of Income in the case of Commissioner of Income-tax v. Madan Theatres Ltd. reported in (2013) 260 CTR 75 (Cal) wherein Madan Theatres Ltd. reported in (2013) 260 CTR 75 (Cal) where Madan Theatres Ltd. reported in (2013) 260 CTR 75 (Cal) where the Hon’ble High Court held as under: the Hon’ble High Court held as under: “3. The Revenue preferred an appeal. The learned Tribunal dismissed The Revenue preferred an appeal. The learned Tribunal dismissed The…

ASHWANI JAIPATY,GHAZIABAD vs. DCIT, CIRCLE- 1, GHAZIABAD

In the result, appeal of the Department is

ITA 276/DEL/2018[2014-15]Status: DisposedITAT Delhi11 Jul 2018AY 2014-15

Bench: Shri Bhavnesh Saini

For Appellant: Shri Akhilesh Kumar &For Respondent: Shri S.L. Anuragi, Sr. D.R
Section 143(1)Section 271(1)(c)Section 274Section 56(2)(vii)

…n to have received as per the sale deed. The assessee disclosed all the material facts before A.O. Therefore, it is not a case of levy of penalty. The assessee relied upon the decision of Hon’ble Kolkata High Court in the case of CIT vs. Madan Theatres Ltd., 260 CTR 75. The Ld. CIT(A) reproduced the judgment in the impugned order and found that penalty have been levied on account of addition made by applying 9 ITA.No.276/Del./2018 Shri Ashwani Jaipaty, Ghaziabad. the deeming provisions of Section 50C of the I.T. Act, which could not be construed as furnishing of inaccurate particulars or concealing the parti…

ITO, NEW DELHI vs. SH. AJAY SHARMA, NEW DELHI

In the result, appeal of the Department is dismissed

ITA 995/DEL/2016[2010-11]Status: DisposedITAT Delhi23 Nov 2017AY 2010-11

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri S. Krishnan, C.AFor Respondent: Shri Raghunath, Sr. D.R
Section 271(1)(c)Section 50C

…Shri Ajay Sharma New Delhi. sale deed. The assessee disclosed all the material facts before A.O. Therefore, it is not a case of levy of penalty. The assessee relied upon the decision of Hon’ble Kolkata High Court in the case of CIT vs. Madan Theatres Ltd., 260 CTR 75. The Ld. CIT(A) reproduced the judgment in the impugned order and found that penalty have been levied on account of addition made by applying the deeming provisions of Section 50C of the I.T. Act, which could not be construed as furnishing of inaccurate particulars or concealing the particulars of income. It was further found that for applying th…

ACIT 2(2)(1), MUMBAI vs. INDIAN EXTRACTION LTD, MUMBAI

ITA 5758/MUM/2016[2012-13]Status: DisposedITAT Mumbai22 Nov 2017AY 2012-13

Bench: Shri Sktijit Dey() & Shri G Manjunatha ()

Section 143(3)Section 271(1)(c)Section 274Section 50CSection 50C(2)

…e deed. In this regard the assessee relied upon the decision of the Hon’ble Bombay High Court in the case of Fortune Hotels & Estates Pvt Ltd 52 Taxman.com330 (Bom) and the decision of the Hon’ble Calcutta High Court in the case of CIT vs Madan Theatres Ltd 260 CTR 75 (Cal). The AO, after considering the relevant submissions of the assessee and also relying upon a plethora of judgements held that the assessee has furnished inaccurate particulars of income within the meaning of section 271(1)(c) which attracts penalty and accordingly levied penalty of Rs.94,23,472 being 100% of tax sought to be evaded. Aggriev…

ITO, WD-8(1), KOLKATA, KOLKATA vs. M/S BAGRI IMPEX PVT. LTD., KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1060/KOL/2015[2006-2007]Status: DisposedITAT Kolkata11 Aug 2017AY 2006-2007

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1060/Kol/2015 Assessment Year : 2006-07 I.T.O. Ward-8(1), Kolkata -Vs- M/S Bagri Impex Ltd. [Pan: Aabcb 9912 A] (Appellant) (Respondent) For The Appellant : None For The Respondent : Sh. G. Banerjee, Fca Date Of Hearing : 08.08.2017 Date Of Pronouncement : 11.08.2017

For Appellant: NoneFor Respondent: Sh. G. Banerjee, FCA
Section 271Section 271(1)Section 274

…and same was upheld by Hon’ble High Court, Calcutta. 2. That on the facts and circumstances of the case, the Ld. CIT(A)-11, Kolkata has erred in relying upon the judgment of jurisdictional High Court, Calcutta in the case of CIT vs. Madan Theaters Ltd. (2013) 260 CTR 75 (Calcutta), though the facts of the aforesaid case is not squarely applicable to the present case. 3. The appellant craves leave to adduce addition and/or supplementary ground/grounds and to amend and/or alter the ground/grounds any time before or the time of hearing of the appeal. 2 M/s Bagri Impex Ltd. A.Yr.2006-07 3. None appeared on behalf of…

SHAKIL HAMID SHEIKH,NAVI MUMBAI vs. ACIT 22(3), MUMBAI

In the result, the appeal filed by the assessee in ITA No

ITA 6775/MUM/2013[2008-09]Status: DisposedITAT Mumbai17 Nov 2016AY 2008-09

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 6775/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) Shri Shakil Hamid Sheikh, Asstt. Commissioner Of बनाम/ Survey No. 183, Income Tax – 22(3), V. Kukshet, Mumbai. Opp. Hpcl, Midc, Navi Mumbai – 400 703. "थायी लेखा सं./Pan : Abqps2677G .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Ms. Pooja Swaroop, D.R
Section 143(2)Section 143(3)Section 271(1)(c)Section 50CSection 50C(2)Section 54B

…आयकर अपील"य अ"धकरण “E” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 6775/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) Shri Shakil Hamid Sheikh, Asstt. Commissioner of बनाम/ Survey No. 183, Income Tax – 22(3), v. Kukshet, Mumbai. Opp. HPCL, MIDC, Navi Mumbai – 400 703. "थायी लेखा सं./PAN : ABQPS2677G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee by Shri Rahul Hakani Revenue by : Ms. Pooja Swaroop, D.R. सुनवाई क" तार"ख /Date of Hearing : 24-08-2016 घोषणा क" तार"ख…

ITO 16(1)(4), MUMBAI vs. GHEVARCHAND G. JAIN, MUMBAI

In the result, revenue’s appeal is dismissed

ITA 6688/MUM/2014[2010-11]Status: DisposedITAT Mumbai15 Jun 2016AY 2010-11

Bench: Shri Amit Shukla () & Shri Ashwani Taneja () Ito 16(1)(4), Mumbai Vs Shri Ghevarchnd G Jain 8-E, Room No.74, Gr Floor, Sonawala Building, Tardeo Road, Mumbai 34 Pan :Aeypj7012B (Appellant) (Respondent)

Section 271(1)(c)Section 50C

…ales consideration was made by penalty could have been levied. In support of this proposition he placed reliance on the following judgments: 1.322 TAXMAN 481 (BOM) CIT VS. FORTUNE HOTELS AND ESTATES PVT. LTD 2. ITA NO. 2210/MUM/2010 RENU HINGORANI VS. ACIT 3. 260 CTR 75 (CAL.) CIT VS. MADAN THEATRES LTD - 4. 33 CCH 647 (AHD) CHIMANLAL MANIAL PATEL VS. ACIT - 5. 38 TAXMAN.COM 47 (ALLAHABAD) CIT VS. DEEWAN TOURISM LTD 5. We have gone through the facts of this case. On the basis of orders passed by the lower authorities and evidences brought before us, it is noted by us that the assessee had disclosed in its return…