CIT v. Orissa Corporation Pvt. Ltd.

159 ITR 78Supreme Court of India1986#53 most cited

What is CIT v. Orissa Corporation Pvt. Ltd. authority for?

When an assessee provides the identity and address of a creditor or investor for a cash credit or share capital under Section 68, the burden shifts to the Department to establish lack of genuineness or creditworthiness, requiring it to conduct further inquiries; mere non-compliance by third parties to summons cannot be the sole basis for an adverse inference against the assessee.

897

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2007 to 2026.

Also referred to as

CIT v. Orissa Corporation · 159 ITR 78 · Section 68 · unexplained cash credit · burden of proof · creditworthiness of creditor · genuineness of transaction · non-compliance of summons · share capital · Section 131 · Section 133(6) · adverse inference

Sections most often in play

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

Issues it is cited on

source of sourcecreditworthiness of the creditorshare capital and share premiumpaper companyshare application moneyaddition u/s 68addition under section 68genuineness of the transactionsection 131section 133(6)entry operatorunexplained cash credit

Judgments citing CIT v. Orissa Corporation Pvt. Ltd.

Arvindkumar Amulkh Tanna, Ahmedabad vs. The ACIT, Central Circle-2 (3), Ahmeadabad

ITA 577/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad31 Jul 2024AY 2015-16

Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar

Section 132Section 143(1)Section 143(3)Section 153A

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ “सी“, अहमदाबाद अहमदाबाद "यायपीठ अहमदाबाद अहमदाबाद । अहमदाबाद IN THE INCOME TAX APPELLATE TRIBUNAL “ C ” BENCH, AHMEDABAD "ी "स"धाथ" नौ"टयाल, "या"यक सद"य एवं "ी मकरंद वसंत महादेवकर, लेखा सद"य के सम"। ] ] BEFORE SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER Sl. आयकर अपील सं/ "नधा"रण वष"/ Appeal(s)/CO by : No(s) IT(SS)A No(s)/ Assess- अपीलाथ" / ""यथ" / ITA No(s)/ ment Appellant बनाम/vs. Respondent CO No(s) Year(s) IT(SS)A No. 1. 2009-10 The…

Sunita Kalantri, Indore vs. Addl., Jt., Deputy ACIT, NFAC

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

ITA 191/IND/2024[17-18]Status: DisposedITAT Indore30 Jul 2024

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisunita Kalantri Acit Fh-183 Scheme No.54 Nfac Vijay Nagar Vs. Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Acnpk4945P Assessee By Shri Ashish Goyal & N.D. Patwa, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 24.07.2024 Date Of Pronouncement 30.07.2024

Section 147Section 148Section 69A

…of the creditors to the AO then failure on the part of the creditor to respond to notice issued by the AO would not justified adverse inference against the assessee. He has relied upon judgment of Hon’ble Supreme Court in case of Orissa Corporation Pvt. Ltd. 159 ITR 78 as well as the decision of Hon’ble Delhi High Court in case of CIT vs. Fancy International 166 taxman 183 and submitted that when the payment were made through account payee cheques and there is a time gap between the transactions and the summons issued by the AO then the possibility of party has moved from the place is not ruled out. The AO ought…

Assistant Commissioner of Income Tax, Central Circle-1(1), Nagpur vs. M/S. Radha Radhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 49/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Jul 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Assistant Commissioner of Income Tax, Central Circle-1(1), Nagpur vs. M/S. Radha Madhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 48/NAG/2021[2012-13]Status: DisposedITAT Nagpur29 Jul 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Assistant Commissioner of Income Tax, Central Circle-1(1), Nagpur vs. M/S. Radha Madhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 47/NAG/2021[2011-12]Status: DisposedITAT Nagpur29 Jul 2024AY 2011-12

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Assistant Commissioner of Income Tax, Central Circle-1(1), Nagpur vs. M/S. Suflam Infra Project Ltd, Nagpur

In the result, the departmental appeal is dismissed

ITA 46/NAG/2021[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Kapil Hirani, Adv &For Respondent: Shri Kailash C. Kanojiya, CTI DR
Section 143(3)Section 263Section 68

…ition made u/s 68 is not sustainable as the AO has nowhere controverted the evidences filed by the appellant nor has produced any concrete justification for making the addition. In this regard, reliance is placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under section 131 at the instan…

Assistant Commissioner of Income Tax, Central Circle-1(1), Nagpur vs. M/S. Radha Madhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 140/NAG/2021[2018-19]Status: DisposedITAT Nagpur29 Jul 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Asstt.Commissioner of Income Tax Central Circle-1(1), Nagpur vs. M/S Radha Madhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 27/NAG/2020[2015-16]Status: DisposedITAT Nagpur29 Jul 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Asstt.Commissioner of Income Tax Central Circle-1(1), Nagpur vs. M/S Radha Madhav Developer, Nagpur

In the result, all the six appeals preferred by the department are dismissed

ITA 26/NAG/2020[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Section 142ASection 145

…ion for making the addition. The AO apart from issuing notice u/s 133(6) has not taken any effort to pursue the matter further. The AO did not even issue any notice u/s 131 as he should have done. Reliance placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Sechon for at the instanc…

Sufalam Infra Projects Ltd, Nagpur vs. Pr. CIT (Central ), Nagpur

In the result, the departmental appeal is dismissed

ITA 97/NAG/2019[2014-15]Status: DisposedITAT Nagpur29 Jul 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Kapil Hirani, Adv &For Respondent: Shri Kailash C. Kanojiya, CTI DR
Section 143(3)Section 263Section 68

…ition made u/s 68 is not sustainable as the AO has nowhere controverted the evidences filed by the appellant nor has produced any concrete justification for making the addition. In this regard, reliance is placed on CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC) wherein the Hon'ble SC has held as under: "In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under section 131 at the instan…

Rewin Ceramics Pvt Ltd, New Delhi vs. ITO Ward - 21(3), New Delhi

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

ITA 4580/DEL/2019[2010-11]Status: DisposedITAT Delhi18 Jul 2024AY 2010-11

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 148Section 68

…ged by the assessee, than the Revenue has to peruse the matter by enforcing the attendance of the creditor/lender and in absence of the same, addition under section 68 is unsustainable. 1. Commissioner of Income-tax vs. Orissa Corp, (P.) Ltd. (SC) reported in 159 ITR 78. 2. CIT vs. Divine Leasing and Finance Ltd. (Delhi HC) reported in 299 ITR 268 PROPOSITION 8: In absence of enquiry/investigation made by AO and failure to rebut documents furnished so furnished by assessee/third party, no addition can be made under section 68 of the Act. 1. CIT vs Gangeshwari Metals P. Ltd. (Delhi HC) reported in 361 ITR 10. 2. C…

Sh. Bimal Prakash Agarwal, Jaipur vs. ITO, Ward-6(1), Jaipur

In the result, the appeal of the assessee is allowed

ITA 657/JPR/2024[2013-14]Status: DisposedITAT Jaipur10 Jul 2024AY 2013-14

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

For Appellant: Shri P.C. Parwal, CAFor Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 68

…o exist and he owns to have lent money to the assessee, the same cannot be considered as income of the assessee unless the Revenue establishes by some evidence that it was really flowing directly from the assessee himself. CIT Vs. Orissa Corporation Pvt. Ltd. 159 ITR 78 (SC) Para 13 of this decision read as under:- 13. In this case, the assessee had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing 5 SHRI BIMAL PRAKASH AGARWAL VS ITO,…

Deputy Commissioner of Income Tax, Airindia Building, Nariman Point, Mumbai vs. Fateh Granite Limited, Andheri, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3484/MUM/2023[2010-11]Status: DisposedITAT Mumbai09 Jul 2024AY 2010-11

Bench: Shri Pavan Kumar Gadale

For Appellant: Shri Prakash JhunjhunwalaFor Respondent: Ms. Rajeshwari Menon, Sr.DR
Section 131Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2010-11 Deputy Commissioner of Income Fateh Granite Ltd., Tax, 517, Option Primo, MIDC, Central Circle – 6(3), Andheri (East), Vs. Mumbai Mumbai – 400 093 (PAN : AAACF4425H) (Appellant) (Respondent) Present for: Assessee : Shri Prakash Jhunjhunwala Revenue : Ms. Rajeshwari Menon, Sr.DR Date of Hearing : 22.05.2024 Date of Pronouncement : 09.07.2024 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the Revenue is against the or…

Bright Commodeal Pvt. Ltd., Kolkata vs. ITO, Ward-2, Kolkata

In the result, the appeal of the assessee is allowed

ITA 96/KOL/2024[2012-13]Status: DisposedITAT Kolkata24 Jun 2024AY 2012-13

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 131Section 133(6)Section 142(1)Section 143(2)Section 68

…he sole basis of non compliance. The case of the assessee find support from the decisions of various judicial forums which are discussed as under. We find support from the decision of Hon’ble Supreme Court in the case of CIT Vs Orissa Corporation Ltd. ([1986] 159 ITR 78 (SC) in which the Hon’ble Apex Court has held as under: “That in this case the respondent had given the names and addresses of the alleged creditors. It was in the knowledge of the Revenue that the said creditors were income-tax assessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under Section…

Balaka Vinimay Pvt. Ltd., Kolkata vs. ITO, Ward-2(1), Kolkata

In the result, appeals of the assessee in ITA No

ITA 161/KOL/2024[2008-09]Status: DisposedITAT Kolkata21 Jun 2024AY 2008-09

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

For Appellant: Shri A.K. Tibrewal, A/R and Saurav Gupta, A/RFor Respondent: Shri Abhijit Kundu, CIT, Sr. D/R
Section 142(1)Section 143(3)Section 147Section 148Section 250Section 263Section 271(1)(c)Section 68

…n ITA No. 609/KOL/2018 order dated 16.10.2023 wherein this Tribunal under the similar set of facts and circumstances and placing reliance on various judgments including that of the Hon'ble Supreme Court in the case of CIT v. Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC), Hon'ble Bombay High Court in the case of CIT vs. Gagandeep Infrastructure (P) Ltd. 80 taxmann.com 272 (Bombay), Hon'ble Madhya Pradesh High Court in the case of PCIT vs. Chain House International (P) Ltd. [2018] 98 taxmann.com 47 (Madhya Pradesh) and the recent judgment of Hon'ble Jurisdictional High Court in the case of PCIT vs. Sreeleather…

Balaka Vinimay Pvt. Ltd., Kolkata vs. ITO, Ward-2(1), Kolkata

In the result, appeals of the assessee in ITA No

ITA 160/KOL/2024[2008-09]Status: DisposedITAT Kolkata21 Jun 2024AY 2008-09

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 160 & 161/Kol/2024 Assessment Year: 2008-09 Balaka Vinimay Pvt. Ltd. Income Tax Officer, Ward – 2(1), 9/12, Lal Bazar Street Vs Kolkata Kolkata - 700001 [Pan : Aadcb2610B] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tibrewal, A/R & Saurav Gupta, A/R Revenue By : Shri Abhijit Kundu, Cit, Sr. D/R सुनवाई क" तारीख/Date Of Hearing : 09/04/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/06/2024 आदेश/O R D E R Per Dr. Manish Borad: The Instant Appeals Are Directed At The Instance Of The Assessee Against The Separate Orders Of The National Faceless Appeal Centre, Delhi, (Hereinafter The “Ld. Cit(A)”). Ita No. 160/Kol/2024 Is Against The Order Of The Ld. Cit(A) Dt. 29/11/2023, Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter ‘The Act’) Arising Out Of The Penalty Order Passed By The Ld. Assessing Officer U/S 271(1)(C) Of The Act & Ita No. 161/Kol/2023, Is Against The Order Of The Ld. Cit(A) Dt. 28/11/2023, Arising Out Of The Order Of The Ld. Assessing Officer Passed U/S 143(3) R.W.S. 254 Of The Act, For Assessment Year 2008-09. 2. Though The Assessee Has Raised Various Grounds In Both These Appeals, But The Effective Issue Raised In Ita No. 161/Kol/2024 Is Against The Addition Made U/S 68 Of The Act For Unexplained Share Capital Confirmed By The Ld. Cit(A) & In Ita No. 160/Kol/2024 Is Against The Levy Of Penalty U/S 271(1)(C) Of The Act On The Addition Made

For Appellant: Shri A.K. Tibrewal, A/R and Saurav Gupta, A/RFor Respondent: Shri Abhijit Kundu, CIT, Sr. D/R
Section 142(1)Section 143(3)Section 147Section 148Section 250Section 263Section 271(1)(c)Section 68

…n ITA No. 609/KOL/2018 order dated 16.10.2023 wherein this Tribunal under the similar set of facts and circumstances and placing reliance on various judgments including that of the Hon'ble Supreme Court in the case of CIT v. Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC), Hon'ble Bombay High Court in the case of CIT vs. Gagandeep Infrastructure (P) Ltd. 80 taxmann.com 272 (Bombay), Hon'ble Madhya Pradesh High Court in the case of PCIT vs. Chain House International (P) Ltd. [2018] 98 taxmann.com 47 (Madhya Pradesh) and the recent judgment of Hon'ble Jurisdictional High Court in the case of PCIT vs. Sreeleather…

DCIT-CC-4(2), Mumbai vs. Rubberwala Realty, Mumbai

In the result, all the appeals of the assessee for AYs 2015-16 to

ITA 3531/MUM/2023[2018-19]Status: DisposedITAT Mumbai07 Jun 2024AY 2018-19

Bench: We Advert To The Grounds Taken In The Cross Appeals, It Would First Be Relevant To Cull Out The Basic Facts Of The Case & Effect Of Law In Brief In Respect Of Certain Ays. Search U/S 132 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Was Conducted Against The Rubberwala Group, On 17-03-2021 Thereby Triggering Section 153A Of The Act. Prior To The Date Of Search, The Income-Tax Assessments For Ays 2015-16 To 2019-20 Were Either Completed U/S 143(1)/143(3) Of The Act And/Or The Time Limit For Issue Of Notice U/S 143(2) Of The Act Had Expired. Accordingly, The Income-Tax 3

For Respondent: Shri Sanyogita Nagpal, CIT
Section 132Section 133(6)Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…had already been furnished before the AO, the alleged non-attendance of summons by the lender cannot be decisive to justify the impugned addition. For this, we rely on the decision of the Hon'ble Supreme Court in the case of CIT vs Orissa Corporation (P) Ltd (159 ITR 78) wherein the facts of the case was that "the assessee, with regard to loans taken produced before the Income- tax Officer letters of confirmation, the discharged Hundis and particulars of the different creditors general index numbers were with the Income-tax Department. Attempts bad been made to bring those creditors therefore the Income-tax Offic…

DCIT-CC-4(2), Mumbai vs. Rubberwala Housing and Infrastructure Limited, Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3508/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpal
Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69C

…ad already been furnished before the AO, the alleged non-compliance of notices by the lenders cannot be decisive to justify the impugned addition. For this, we rely on the decision of the Hon'ble Supreme Court in the case of CIT vs Orissa Corporation (P) Ltd (159 ITR 78) wherein the facts of the case was that "the assessee, with regard to loans taken produced before the Income- tax Officer letters of confirmation, the discharged Hundis and particulars of the different creditors general index numbers were with the Income-tax Department. Attempts bad been made to bring those creditors therefore the Income-tax Offic…

Rubberwala Housing and Infrastructure Limited, Mumbai vs. DCIT CC-4(2), Mumbai

In the result, all the appeals of the assessee stands allowed and

ITA 3448/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Jun 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T Varkey, Jm आयकर अपील सं/ I.T. A. No. 3448/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3447/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3446/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3445/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3444/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2019-20) & आयकर अपील सं/ I.T. A. No. 3459/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2020-21) & आयकर अपील सं/ I.T. A. No. 3432/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2021-22) Rubberwala Housing & Infrastructure Ltd. Ground Floor, Rubberwala House, Dr. A Nair Road, Agripada, Mumbai-400011. बनाम / Vs. Dcit, Central Circle-4(2) 19Th Floor, Air India Building, Nariman Point, Mumbai-400021. आयकर अपील सं/ I.T. A. No. 3508/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2015-16) & आयकर अपील सं/ I.T. A. No. 3505/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2016-17) & आयकर अपील सं/ I.T. A. No. 3504/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2017-18) & आयकर अपील सं/ I.T. A. No. 3549/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2018-19) & आयकर अपील सं/ I.T. A. No. 3503/Mum/2023 2

For Appellant: Shri Mani Jain FCAFor Respondent: Smt Sanyogita Nagpa
Section 132Section 143(1)Section 143(2)Section 153ASection 68Section 69ASection 69C

…ad already been furnished before the AO, the alleged non-compliance of notices by the lenders cannot be decisive to justify the impugned addition. For this, we rely on the decision of the Hon'ble Supreme Court in the case of CIT vs Orissa Corporation (P) Ltd (159 ITR 78) wherein the facts of the case was that "the assessee, with regard to loans taken produced before the Income- tax Officer letters of confirmation, the discharged Hundis and particulars of the different creditors general index numbers were with the Income-tax Department. Attempts bad been made to bring those creditors therefore the Income-tax Offic…

Humayun Ahmed Shafi Ahmed Shaikh, Mumbai vs. DCIT CC-4(2), Mumbai

In the result, the appeal of the assessee stands allowed

ITA 3433/MUM/2023[2020-21]Status: DisposedITAT Mumbai07 Jun 2024AY 2020-21

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. No.3433/Mum/2023 (ननधधारण वर्ा / Assessment Year: 2020-21) Humayun Ahmed Shafi बनधम/ Dcit, Central Circle-4(2) 19Th Floor, Air India Ahmed Shaikh Vs. Ground Floor, Rubberwala Building, Nariman Point, House, Dr. A Nair Road, Mumbai-400021. Agripada, Mumbai-400011. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Auwps7212G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Mani Jain, Fca Revenue By: Smt Sanyogita Nagpal Cit

For Appellant: Shri Mani Jain, FCAFor Respondent: Smt Sanyogita Nagpal CIT
Section 132(4)Section 133(6)Section 68

…d already been furnished before the AO, the alleged non- compliance of notices by the lenders cannot be decisive to justify the impugned addition. For this, we rely on the decision of the Hon'ble Supreme Court in the case of CIT vs Orissa Corporation (P) Ltd (159 ITR 78) wherein the facts of the case was that "the assessee, with regard to loans taken produced before the Income- tax Officer letters of confirmation, the discharged Hundis and particulars of the different creditors general index numbers were with the Income-tax Department. Attempts bad been made to bring those creditors therefore the Income-tax Offic…