CIT v. Orissa Corporation Pvt. Ltd.

DCIT-13(3)(2), Mumbai vs. M/S Vedartha Entertainment Ltd., Mumbai

Bench: Shri S. Rifaur Rahman () & Shri Pavan Kumar Gadale () Assessment Year: 2014-15 Dcit-13(3)(2), M/S Vedartha Entertainment Ltd., Room No. 229/219, 2Nd Floor, Vs. 201, 2Nd Floor, Jaimala Apartment, Aayakar Bhavan, M.K. Road, Near Hotel Shimmers, Link Road, Mumbai-400020. Malad (E), Mumbai-400064. Pan No. Aaecv 0129 N Appellant Respondent Revenue By : Mr. Usha Gaikwad, Dr Assessee By : Ms. Neelkant Khandelwal, Ar Date Of Hearing : 21/09/2021 Date Of Pronouncement : 25/11/2021

…red. This view has been upheld by the Hon'ble Delhi Tribunal in the case of Mrs. Ranjana Katyal VS ACIT (2008) 1 DTR (Del) (Trib) 24 and Pankaj Sawhney Vs ITO (2004) 3 SOT 1 (Del) 25. The Hon'ble Supreme Court in the case of CIT Vs Orissa Corporation (P) Ltd. 159 ITR 78 (SC) held as follows: "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 incometaxassessees. Their index numbers were in the file of the Revenue. The Revenue, apart from issuing notices under s. 131 at the instance of the assessee, did not…

Rubberwala Hospitality Pvt Ltd, Mumbai vs. ITO 5 (3)91), Mumbai

In the result, both the appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Amarjit Singh

…on. This issue is dealt by the Gauhati High Court in the case of CIT v. Smt. Sanghamitra Bharali (2014) 361 ITR 481 (Gau). The aforesaid points were also affirmed in the past by the Apex Court in the case of CIT v. Orissa Corporation P. Ltd reported in (1986) 159 ITR 78 (SC). In the case of CIT v. Varinder Rawley (2014) 366 ITR 232 (P & H) the court held that "where the assessee shows that the entries regarding credit in a third party's account were in fact received from the third party and are genuine, he discharges the onus. In that case, the sum cannot be charged as the assessee's income in the absence of any…

DCIT Central Circle-8(4), Mumbai vs. M/S Rohan Developers Pvt Ltd, Mumbai

In the result, all the appeals of the Revenue are dismissed and appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2008-09 Assessment Year: 2010-11 Assessment Year: 2011-12 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2014-15

…l enquiry or investigation, therefore, no addition can be made under section 68 of the Act. While allowing the appeal of the assessee on merit the ld CIT(A) referred to the decision of the Hon’ble apex court in the case of CIT vs Odisha Corporation Pvt. Ltd. (159 ITR 78), decision of Hon’ble Bombay High Court in the case of CIT vs Creative World Telefilm Limited (333 ITR 100). In para 39.20, the Ld. CIT(A) stated that the comments of the AO are superficial and general in nature. He also stated that there is no illustration of facts or figures in the remand report, which have led to such a conclusion. In para 39.2…

Rohan Developers P.Ltd, Mumbai vs. DCIT Cen Cir 47, Mumbai

In the result, all the appeals of the Revenue are dismissed and appeals of the assessee are allowed

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2008-09 Assessment Year: 2010-11 Assessment Year: 2011-12 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2014-15

…l enquiry or investigation, therefore, no addition can be made under section 68 of the Act. While allowing the appeal of the assessee on merit the ld CIT(A) referred to the decision of the Hon’ble apex court in the case of CIT vs Odisha Corporation Pvt. Ltd. (159 ITR 78), decision of Hon’ble Bombay High Court in the case of CIT vs Creative World Telefilm Limited (333 ITR 100). In para 39.20, the Ld. CIT(A) stated that the comments of the AO are superficial and general in nature. He also stated that there is no illustration of facts or figures in the remand report, which have led to such a conclusion. In para 39.2…