CIT v. Mukundray K. Shah

290 ITR 433Supreme Court of India2007#1126 most cited

What is CIT v. Mukundray K. Shah authority for?

For Section 2(22)(e) to apply, a payment by a company must be in the nature of a loan or advance, and the company must have accumulated profits. Such payments to a concern in which a shareholder, holding more than 10% voting power, has a substantial interest are deemed dividends if the shareholder ultimately benefits, even if routed through different modes or concerns.

99

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2007 to 2025.

Also referred to as

CIT v. Mukundray K. Shah · Mukundray K. Shah 290 ITR 433 · section 2(22)(e) deemed dividend · accumulated profits · closely held company payments · loan or advance under section 2(22)(e) · shareholder substantial interest · funds routed through conduit company · deemed dividend shareholder benefit · payment to concern shareholder interest · definition of dividend section 2(22) · closely held company deemed dividend

Also reported as

209 CTR 97

Sections most often in play

Section 1961Section 2(22)(e)Section 153ASection 132Section 143(3)Section 115-OSection 115QSection 147
Read the full judgment

Issues it is cited on

section 115qsection 133(a)section 153b(1)(a)time barred assessmentsection 148(1)accumulated profitssection 153(1)(a)closely held companybona fide mistakesection 158bcsection 2(22)section 90a

Judgments citing CIT v. Mukundray K. Shah

DCIT, New Delhi vs. M/S. Taneja Developers & Infrastructure Ltd., New Delhi

In the result all the six appeals in the case of two assesses preferred by the assessee and Ld AO are dismissed

ITA 60/DEL/2014[2007-08]Status: DisposedITAT Delhi25 Jun 2018AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Shri Vijay Varma, CIT DR
Section 115JSection 132Section 133ASection 143Section 153ASection 68

…ments of the plot of land and selected by the assessee. In the end, he referred to the decision of the coordinate bench in case of Parag Dalmia in ITA No. 5499/del/2017 dated 26 – 2 – 2018 and the decision of Hon Supreme court in case of Mr. Mukund Rai K Shah 290 ITR 433. 11. With respect to the incriminating document found during the course of search he submitted that there is a statement of Mr. Gupta who provided the accommodation entry, there is a statement of the director of the group who accepted that he has entered into the transaction of buying accommodation entries from Mr. SK Gupta and based on that he s…

M/S. Taneja Developers Infra. Ltd., New Delhi vs. DCIT, New Delhi

In the result all the six appeals in the case of two assesses preferred by the assessee and Ld AO are dismissed

ITA 1944/DEL/2012[2007-08]Status: DisposedITAT Delhi25 Jun 2018AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Shri Vijay Varma, CIT DR
Section 115JSection 132Section 133ASection 143Section 153ASection 68

…ments of the plot of land and selected by the assessee. In the end, he referred to the decision of the coordinate bench in case of Parag Dalmia in ITA No. 5499/del/2017 dated 26 – 2 – 2018 and the decision of Hon Supreme court in case of Mr. Mukund Rai K Shah 290 ITR 433. 11. With respect to the incriminating document found during the course of search he submitted that there is a statement of Mr. Gupta who provided the accommodation entry, there is a statement of the director of the group who accepted that he has entered into the transaction of buying accommodation entries from Mr. SK Gupta and based on that he s…

M/S. Taneja Developers Infra. Ltd., New Delhi vs. DCIT, New Delhi

In the result all the six appeals in the case of two assesses preferred by the assessee and Ld AO are dismissed

ITA 1943/DEL/2012[2006-07]Status: DisposedITAT Delhi25 Jun 2018AY 2006-07

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Shri Vijay Varma, CIT DR
Section 115JSection 132Section 133ASection 143Section 153ASection 68

…ments of the plot of land and selected by the assessee. In the end, he referred to the decision of the coordinate bench in case of Parag Dalmia in ITA No. 5499/del/2017 dated 26 – 2 – 2018 and the decision of Hon Supreme court in case of Mr. Mukund Rai K Shah 290 ITR 433. 11. With respect to the incriminating document found during the course of search he submitted that there is a statement of Mr. Gupta who provided the accommodation entry, there is a statement of the director of the group who accepted that he has entered into the transaction of buying accommodation entries from Mr. SK Gupta and based on that he s…

ACIT, New Delhi vs. M/S. Taneja Developers & Infra Ltd., New Delhi

In the result all the six appeals in the case of two assesses preferred by the assessee and Ld AO are dismissed

ITA 1907/DEL/2012[2006-07]Status: DisposedITAT Delhi25 Jun 2018AY 2006-07

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Salil Aggarwal, AdvFor Respondent: Shri Vijay Varma, CIT DR
Section 115JSection 132Section 133ASection 143Section 153ASection 68

…ments of the plot of land and selected by the assessee. In the end, he referred to the decision of the coordinate bench in case of Parag Dalmia in ITA No. 5499/del/2017 dated 26 – 2 – 2018 and the decision of Hon Supreme court in case of Mr. Mukund Rai K Shah 290 ITR 433. 11. With respect to the incriminating document found during the course of search he submitted that there is a statement of Mr. Gupta who provided the accommodation entry, there is a statement of the director of the group who accepted that he has entered into the transaction of buying accommodation entries from Mr. SK Gupta and based on that he s…

ITO, Chandigarh vs. M/S J.N. Goyal Hospital Pvt. Ltd., Chandigarh

Appeal of the Revenue is dismissed

ITA 194/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh22 May 2018AY 2010-11

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2010-11

For Appellant: Shri. Sudhanshu BansalFor Respondent: Shri. Saurav Dubey
Section 143(3)Section 2(22)(e)

…le High Court of Punjab and Haryana in the case of CIT Ludhaina Vs. Sharman Woolen Mills Ltd. (2012) and ignoring the fact that while passing the order u/s 143(3), reliance was placed on the judgement of Hon’ble Supreme Court in the case of CIT Vs. M.K. Shah 290 ITR 433 which is squarely applicable to the facts of the case of the assessee. 3. The effective ground is ground no. 2 pertaining to addition under section 2(22)(e) of the Income Tax Act,1961. 4. Brief facts of the case and the rationale given by the Ld. CIT(A) can be gauzed from the order of the Ld. CIT(A) below: 5.1 Brief fact on the issue are that t…

Parag Dalmia, New Delhi vs. DCIT, Central Circle-26, New Delhi

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

ITA 5499/DEL/2017[2006-07]Status: DisposedITAT Delhi26 Feb 2018AY 2006-07

Bench: Shri R. K. Panda & Shri Kuldip Singhassessment Year : 2006-07 Parag Dalmia, Dcit, Central Circle-26, A-238, Ground Floor, New Delhi. Vs. Okhla Industrial Area, Phase-1, New Delhi. Pan : Aaapd3725B (Appellant) (Respondent)

For Appellant: Shri Hiren Mehta, CAFor Respondent: Shri Vijay Verma, CIT-DR
Section 132Section 132(4)Section 142(1)Section 143(2)Section 153ASection 271(1)(b)

…ecorded during search and voluntarily declaration of undisclosed income in post search enquiries constitute evidence found during the search. For the above proposition, he relied on the decision of the Apex Court in the case of Mukundray K. Shah reported in 290 ITR 433, wherein it has held that even if addition arises out of enquiry related to source of investment in disclosed investment, if details of such disclosed investment were found during search, addition has to be sustained. He submitted that at that time simultaneous proceedings u/s 148/regular assessment and Block Assessment proceedings were not po…

Zakaulla Siddqui, Mumbai vs. Asst CIT Cen Cir 47, Mumbai

In the result, the appeal filed by the assessee for the AY 2011-12 is partly allowed whereas the appeal filed by the Revenue is dismissed

ITA 302/MUM/2015[2011-12]Status: DisposedITAT Mumbai26 Feb 2018AY 2011-12

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2006-07 & Assessment Year: 2010-11 & Assessment Year: 2011-12 Mr. Zakaullah Siddiqui Asst. Commissioner Of A-Wing, 604 A, Simla Income-Tax, Central Vs. House, Napean Sea Road, Circle-47, Mumbai-400036. Mumbai. Pan No. Aakps6026J Appellant Respondent Assessment Year: 2011-12 A.C.I.T.-Cc-8(4) Mr. Zakaullah Siddiqui 6Th Floor, Room No. 658, A-Wing, 604 A, Simla Vs. Aayakarbhavan, M.K. House, Napean Sea Road, Road, Mumbai-400036. Mumbai-400020 Pan No. Aakps6026J Appellant Respondent Assesseeby : Mr. Ajay R. Singh, Ar Revenue By : Mr. A.K. Jha, Cit-Dr Date Of Hearing : 06/12/2017 Date Of Pronouncement : 26/02/2018

For Appellant: Mr. Ajay R. Singh, ARFor Respondent: Mr. A.K. Jha, CIT-DR
Section 132Section 132(1)Section 143(3)Section 153Section 153A

…SC) and the CBDT Circular No. 19/2017. 3.5 Per contra, the Ld. DR supports the order of the Ld. CIT(A). He submits that it is a pure case of deemed dividend to be taxed u/s 2(22)(e) of the Act. He also relies on the decision in CIT v. Mukundray K. Shah (2007) 290 ITR 433 (SC) and files a copy of it. 3.6 We have heard the rival submissions and perused the relevant materials on record. The reasons for our decisions are given below. It is found that the assessee has filed his return of income for the AY 2010-11 on 25.07.2010. The AO can issue notice u/s 143(2) within six months from the end of the financial year in…

Dr. Sunil Sharma, New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands partly allowed for statistical purposes

ITA 5480/DEL/2014[2011-12]Status: DisposedITAT Delhi20 Dec 2017AY 2011-12

Bench: Shri R.S. Syal & Smt. Beena A Pillaia.Y. 2011-12

Section 142(1)Section 143(1)Section 143(2)Section 2Section 2(22)Section 2(22)(e)Section 40

…leged document that was placed by way of additional evidence vide application dated 16.11.17. While responding to queries raised, Ld.AR placed reliance on observation in the decision by Hon’ble Supreme Court in the case of CIT vs. Mukundray K Shah reported in 290 ITR 433 which is as under. Page 11 of 19 ITA No. 5480/Del/14 A.Y. 2011-12 Sh. Sunil Sharma “We find merit in this civil appeal. The companies having accumulated profits and the companies in which substantial voting power lies in the hands of the person other than the public (controlled companies) are required to distribute accumulated profits as divide…

Mr. Jitendra Kumar Gupta, Meerut vs. ACIT, Meerut

In the result, the Appeal of the is allowed

ITA 274/DEL/2016[2012-13]Status: DisposedITAT Delhi29 Nov 2017AY 2012-13

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Sumit Goyal, CAFor Respondent: Sh. Kaushlendra Tiwari, Sr. DR
Section 14(3)Section 142(1)Section 143(2)Section 2(22)Section 2(22)(e)Section 234B

…UF is not a registered shareholder in lending company, advanceslloans received by HUF is taxable as deemed dividend under section 2(22)(e). if Karta-shareholder has substantial interest in HUF. 5 3. CIT Vs Mukundray K. Shah [2007] 160 Taxman 276 (SC)/{2007] 290 ITR 433 (SC)/[2007] 209 CTR 97 (SC) A search conducted at assessee's premises led to seizure of a diary, which contained purchasing of nine per cent RBI relief bonds by assessee from funds received from two firms 'B' and 'C' in which he was a partner. Tribunal' after examination of cash flow statement held that two firms were used as conduits by assesse…

Asst CIT 25(2), Mumbai vs. Pratiksha Shah, Mumbai

The appeals of the Revenue are dismissed

ITA 3479/MUM/2014[2006-07]Status: DisposedITAT Mumbai03 Oct 2017AY 2006-07

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(1)Section 143(2)Section 153ASection 271(1)(c)

…d further having failed to prove the amount shown in the documents were the only payments made, the Tribunal was held to be not right in deleting the additions. Reliance was also placed on the decision of Hon’ble Supreme Court in the case of Mukundray K. Shah 290 ITR 433 wherein it was held that the diary seized during the search was revealing that company in which assessee had substantial interest and which had accumulated profits, advanced monies to closely related partnership firms in which also assessee was a partner which amounts were withdrawn by assessee and utilized for purchase of RBI Bonds, it was held…

ACIT 25(2), Mumbai vs. Pratiksha B Shah, Mumbai

The appeals of the Revenue are dismissed

ITA 4655/MUM/2012[2005-06]Status: DisposedITAT Mumbai03 Oct 2017AY 2005-06

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(1)Section 143(2)Section 153ASection 271(1)(c)

…d further having failed to prove the amount shown in the documents were the only payments made, the Tribunal was held to be not right in deleting the additions. Reliance was also placed on the decision of Hon’ble Supreme Court in the case of Mukundray K. Shah 290 ITR 433 wherein it was held that the diary seized during the search was revealing that company in which assessee had substantial interest and which had accumulated profits, advanced monies to closely related partnership firms in which also assessee was a partner which amounts were withdrawn by assessee and utilized for purchase of RBI Bonds, it was held…

ITO 2(3)(2), Mumbai vs. Saturn Advisory Services P.Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 802/MUM/2015[2006-07]Status: DisposedITAT Mumbai12 Sept 2017AY 2006-07

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Years: 2006-07 Income Tax Officer-2(3)(2), M/S Saturn Advisory Room No. 518A, Services Pvt. Ltd., बनाम/ Aayakar Bhavan, M.K. Road, 44, Strategic House, Vs. Mumbai-400020 Mint Road, Fort, Mumbai-400001 (राज"व /Revenue) ("नधा"रती/Assessee) Pan No.:-Aajcs2674N

Section 143(1)

…ion based on DVO's report could not be sustained as no adverse material had been found during the search. She also relied upon the Supreme Court's 15 M/s Saturn Advisory Services Pvt. Ltd. decision in CIT vs. Mukundray K. Shah (2007) 209 CTR (SC) 97 : (2007) 290 ITR 433 (SC) to contend that the block assessment of undisclosed income can be based on the evidence found in the search and/or material or information gathered in post-search inquiries made on the basis of evidence found in the search. 6. Mr. Piyush Kaushik, learned counsel for the respondent-assessee contended that no addition could be made by AO in t…

Principal Commissioner of Income Tax - 7 vs. Bikram Singh

The appeal is allowed in the above terms

ITA/55/2017HC Delhi25 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 68

…hat the appreciation of evidence being a question of fact, ITA No.55/2017 Page 14 of 25 there being no question of law on perversity and the sources being explained, the appeal does not merit to be entertained. He relies on CIT, Kolkata v. Mukundray K. Shah 290 ITR 433 (hereafter ‘Mukundray Shah’) in this behalf. 21. Mr. Aggarwal also relies upon Kamdhenu (supra), CIT v. Shiv Dhooti Pearls and Investment Ltd. 237 TAXMAN 104 (hereafter `Shivdhooti') and Dwarkadhish (supra), Sarogi Credit Corporation vs. CIT 103 ITR 344, Additional Commissioner of Income Tax vs. Hanuman Agarwal 151 ITR 150, Addl CIT vs. Bahri Bro…

M/S. Chitrakoot Merchandise Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the Appeals filed by the Assessee stand allowed

ITA 6802/DEL/2013[2004-05]Status: DisposedITAT Delhi31 May 2017AY 2004-05

Bench: Shri H.S. Sidhu & Shri O.P. Kant

For Appellant: Sh. Sudesh Garg, AdvFor Respondent: Sh. Naveen Chandra, CIT(DR)
Section 127Section 132Section 139Section 143(2)Section 144Section 153CSection 68

…elopment Company 49 Taxmann.com 98, ITA No. 38/2014 (Karnataka HC) dated 25.07.2014(Para 11) 4. Sri Raj Kumar Arora ITA No. 56/11 (Allahabad HC) dated 1.07.2014 5. Gopal Das Bhadruka 27 Taxmann.com 167 (Andhra Pradesh HC) (Para 5) 6. Mukundray K,. Shah 290 ITR 433 (SC) where the Supreme court held that a print out of audited books of account seized in the course of search can be used for assessment and tax accumulated profit u/s 2(22)(e). Decisions in favour of Revenue of ITAT 1. Apoorva Extrusion Pvt. Ltd. - ITA No. 3308/De1/2010(Delhi A-Bench) dated 09.10.2014 (Para 8) 2. Nandini Delux (Banglore C-B…

M/S. Chitrakoot Merchandise Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the Appeals filed by the Assessee stand allowed

ITA 6801/DEL/2013[2003-04]Status: DisposedITAT Delhi31 May 2017AY 2003-04

Bench: Shri H.S. Sidhu & Shri O.P. Kant

For Appellant: Sh. Sudesh Garg, AdvFor Respondent: Sh. Naveen Chandra, CIT(DR)
Section 127Section 132Section 139Section 143(2)Section 144Section 153CSection 68

…elopment Company 49 Taxmann.com 98, ITA No. 38/2014 (Karnataka HC) dated 25.07.2014(Para 11) 4. Sri Raj Kumar Arora ITA No. 56/11 (Allahabad HC) dated 1.07.2014 5. Gopal Das Bhadruka 27 Taxmann.com 167 (Andhra Pradesh HC) (Para 5) 6. Mukundray K,. Shah 290 ITR 433 (SC) where the Supreme court held that a print out of audited books of account seized in the course of search can be used for assessment and tax accumulated profit u/s 2(22)(e). Decisions in favour of Revenue of ITAT 1. Apoorva Extrusion Pvt. Ltd. - ITA No. 3308/De1/2010(Delhi A-Bench) dated 09.10.2014 (Para 8) 2. Nandini Delux (Banglore C-B…

ACIT, New Delhi vs. M/S. Jmsw Infracon Pvt. Ltd., New Delhi

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

ITA 1079/DEL/2012[2008-09]Status: DisposedITAT Delhi31 May 2017AY 2008-09

Bench: Sh. Sidhu & Sh. O.P. Kant

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’, NEW DELHI BEFORE SH. SIDHU, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos. 1074 to 1079/Del/2012 Assessment Years: 2003-04 to 2008-09 Vs. M/s. JMSW Infracon Pvt. Ltd., ACIT, Central Circle-21, Room No. 344, ARA Centre, E-2, (Formerly Known as M/s. ANG Jhandewalan Extn., New Delhi Corporate Consultants Pvt. Ltd.), E-59, Masjid Moth, Greater Kailash, Part-III, New Delhi PAN : AAECA0411A (Appellant) (Respondent) And C.O. Nos. 133 to 138/Del/2012 { In ITA Nos. 1074 to 1079/Del/2012 } Assessment Years: 2003-04 to 2008-09 M/s. JMSW Infracon Pvt. Ltd.…

ACIT, New Delhi vs. M/S. Jmsw Infracon Pvt. Ltd., New Delhi

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

ITA 1074/DEL/2012[2003-04]Status: DisposedITAT Delhi31 May 2017AY 2003-04

Bench: Sh. Sidhu & Sh. O.P. Kant

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’, NEW DELHI BEFORE SH. SIDHU, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos. 1074 to 1079/Del/2012 Assessment Years: 2003-04 to 2008-09 Vs. M/s. JMSW Infracon Pvt. Ltd., ACIT, Central Circle-21, Room No. 344, ARA Centre, E-2, (Formerly Known as M/s. ANG Jhandewalan Extn., New Delhi Corporate Consultants Pvt. Ltd.), E-59, Masjid Moth, Greater Kailash, Part-III, New Delhi PAN : AAECA0411A (Appellant) (Respondent) And C.O. Nos. 133 to 138/Del/2012 { In ITA Nos. 1074 to 1079/Del/2012 } Assessment Years: 2003-04 to 2008-09 M/s. JMSW Infracon Pvt. Ltd.…

ACIT, New Delhi vs. M/S. Victory Accommodations Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6240/DEL/2014[2010-11]Status: DisposedITAT Delhi19 May 2017AY 2010-11

Bench: Shri H.S. Sidhu, Jm & Shri O.P. Kant, Am

For Appellant: Sh. Rano Jain, Adv., & Sh. Ashish Goyal, CAFor Respondent: Sh. Naveen Chandra, CIT (DR)
Section 132Section 143(2)Section 143(3)Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘D’, NEW DELHI Before Shri H.S. Sidhu, JM & Shri O.P. Kant, AM ITA Nos. 6216 & 6217/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Accommodation Pvt. Vs ACIT, Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (PAN: AACCV3923C) (APPELLANT) (RESPONDENT) ITA Nos. 6239 & 6240/Del/2014 : Asstt. Years : 2009-10 & 2010-11 ACIT, Vs Victory Accommodation Pvt. Central Circle-09, Ltd., New Delhi 208, Gupta Tower, Azadpur Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) Assessee by : S…

ACIT, New Delhi vs. M/S. Victory Accommodations Pvt. Ltd., New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6239/DEL/2014[2009-10]Status: DisposedITAT Delhi19 May 2017AY 2009-10

Bench: Shri H.S. Sidhu, Jm & Shri O.P. Kant, Am

For Appellant: Sh. Rano Jain, Adv., & Sh. Ashish Goyal, CAFor Respondent: Sh. Naveen Chandra, CIT (DR)
Section 132Section 143(2)Section 143(3)Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘D’, NEW DELHI Before Shri H.S. Sidhu, JM & Shri O.P. Kant, AM ITA Nos. 6216 & 6217/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Accommodation Pvt. Vs ACIT, Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (PAN: AACCV3923C) (APPELLANT) (RESPONDENT) ITA Nos. 6239 & 6240/Del/2014 : Asstt. Years : 2009-10 & 2010-11 ACIT, Vs Victory Accommodation Pvt. Central Circle-09, Ltd., New Delhi 208, Gupta Tower, Azadpur Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) Assessee by : S…

Victory Accomodations Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessees are allowed and that of the department are dismissed

ITA 6217/DEL/2014[2010-11]Status: DisposedITAT Delhi19 May 2017AY 2010-11

Bench: Shri H.S. Sidhu, Jm & Shri O.P. Kant, Am

For Appellant: Sh. Rano Jain, Adv., & Sh. Ashish Goyal, CAFor Respondent: Sh. Naveen Chandra, CIT (DR)
Section 132Section 143(2)Section 143(3)Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘D’, NEW DELHI Before Shri H.S. Sidhu, JM & Shri O.P. Kant, AM ITA Nos. 6216 & 6217/Del/2014 : Asstt. Years : 2009-10 & 2010-11 Victory Accommodation Pvt. Vs ACIT, Ltd., Central Circle-09, 208, Gupta Tower, Azadpur New Delhi Commercial Complex, Azadpur, New Delhi-110033 (PAN: AACCV3923C) (APPELLANT) (RESPONDENT) ITA Nos. 6239 & 6240/Del/2014 : Asstt. Years : 2009-10 & 2010-11 ACIT, Vs Victory Accommodation Pvt. Central Circle-09, Ltd., New Delhi 208, Gupta Tower, Azadpur Commercial Complex, Azadpur, New Delhi-110033 (APPELLANT) (RESPONDENT) Assessee by : S…