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 367,154 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.

Piyush Suppliers Pvt. Ltd., Kolkata vs. Income Tax Officer, Ward 9(3), Kolkata, Income Tax Department

In the result, the appeal of the assesseeis allowed

ITA 269/KOL/2024[2012-13]Status: DisposedITAT Kolkata17 Mar 2025AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm

For Appellant: Shri Dilip Kumar Patni, ARFor Respondent: Shri Raja Sengupta, DR
Section 131Section 142(1)Section 68

…summons u/s 131 of the Act cannot be ground for making an addition. The case of the find force from the decision of the following decisions namely In defense of his argument he relied on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. 06. Under these facts and circumstances and considering underlying facts in the light of…

ITO, Ward- 7(1), New Delhi vs. Decor Investment & Finance Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 5637/DEL/2018[2014-15]Status: DisposedITAT Delhi13 Mar 2025AY 2014-15

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.Income Tax Officer, Vs. M/S. Décor Investment Ward-7(1) & Finance Ltd, F-Block, 1St Floor, New Delhi International Trade Tower, Nehru Place, New Delhi-19 (Appellant) (Respondent) Pan: Aaacd3457H

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Surender Pal, CIT DR
Section 133(6)Section 143(3)Section 68

…directors of the investor companies, that cannot lead to draw an adverse inference against the assessee herein. Reliance in this regard was rightly placed by the learned AR on the decision of Hon’ble Supreme Court in the case of Orissa Corporation reported in 159 ITR 78 (SC). Hence, we hold that assessee had clearly established all the three ingredients of section 68 of the Act and there is no case for making any addition by disbelieving the share capital and share premium. We do not find any infirmity in the order of the learner CITA. Accordingly, the ground raised by the revenue is dismissed. 6. In the result,…

Income Tax Officer, Jaipur vs. Kedia Builders and Colonizers Private Limited, Jaipur

In the result, all appeals of the revenue are stands dismissed

ITA 901/JPR/2024[2014-15]Status: DisposedITAT Jaipur11 Mar 2025AY 2014-15

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Sidharth RankaFor Respondent: Mrs. Anita Rinesh, JCIT-DR
Section 143(3)Section 147

…al's case (supra) relying upon Daulat Ram's case (supra), has taken a contrary view, we stand better advised to follow the view, which has been taken in Mangilal's case (supra)." 6.9 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 income tax assessees. 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 no…

Om Prakash Tantia, Faridabad vs. DCIT, Central Circle-25, New Delhi

ITA 4737/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Mar 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 132Section 143(1)Section 143(2)Section 147Section 148

…nds of the loan creditor, it could have made further enquiries from all such parties even after receiving their replies in response to the notices issued u/s 133(6) of the Act. 23. The Hon’ble Supreme Court in the case of Orissa Corporation reported in [1986] 159 ITR 78 (SC) has held that when the assessee furnishes names and addresses of the alleged creditors and the GIR numbers, the burden shifts to the Department to establish the Revenue's case and in order to sustain the addition the Revenue has to pursue the enquiry and to establish the lack of creditworthiness and mere non-compliance of summons issued by th…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 59/NAG/2022[2017-18]Status: DisposedITAT Nagpur25 Feb 2025AY 2017-18

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 58/NAG/2022[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 57/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Feb 2025AY 2014-15

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 56/NAG/2022[2013-14]Status: DisposedITAT Nagpur25 Feb 2025AY 2013-14

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 55/NAG/2022[2012-13]Status: DisposedITAT Nagpur25 Feb 2025AY 2012-13
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 54/NAG/2022[2011-12]Status: DisposedITAT Nagpur25 Feb 2025AY 2011-12

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Shri Sanjay Dhanraj Jain, Nagpur vs. Deputy Commissioner of Income Tax, Central Circle-1(3), Nagpur

ITA 53/NAG/2022[2010-11]Status: DisposedITAT Nagpur25 Feb 2025AY 2010-11

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

For Appellant: Shri Rajesh LoyaFor Respondent: Shri Sandipkumar Salunke
Section 132Section 133ASection 139(1)Section 143(1)Section 143(3)Section 153ASection 234A

…have informed the assessee or could have issued summons u/s.131 to the party in case of doubt over the transaction which in this case is not done. We rely on the decision of Hon'ble Supreme Court has held in case of CIT vs. Orissa Corportion Pvt. Ltd. [1986] 159 ITR 78:- "ITO treated certain cash credits shown to have been received by assessee from outside parties as unproved and added same to income of assessee under section 68 and imposed penalty on it under section 271(1)(c) Tribunal deleted the impugned addition as well as the penalty imposed on the grounds that (i) assessee have given the names and addresse…

Hilton Commodities Pvt. Ltd., Kolkata vs. ITO, Ward-5(3), Kolkata

In the result, the appeal of the revenue is dismissed

ITA 676/KOL/2024[2009-10]Status: DisposedITAT Kolkata24 Feb 2025AY 2009-10

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Hilton Commodities Pvt. Ltd. Ito, Ward 5(3) 9/12, Lal Bazar Street, Aaykar Bhavan, P-7, Mercantile Building, Block-B, Chowringhee Square, Vs. 3Rd Floor, No.10, Kolkata-700069, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aacch1011P Assessee By : Shri Soumitra Choudhury, Ar Revenue By : Shri S Datta, Cit Dr Date Of Hearing: 08.01.2025 Date Of Pronouncement : 24.02.2025

For Appellant: Shri Soumitra Choudhury, ARFor Respondent: Shri S Datta, CIT DR
Section 131Section 143(1)Section 143(2)Section 144Section 147Section 148Section 14ASection 263Section 68

…h their respective bank statements and all the payments are by account Hilton Commodities Pvt. Ltd.; A.Y. 2009-10 payee cheques. Reliance in this regard is placed on the decision of the Hon’ble Supreme Court in the case of Orissa Corporation P Ltd reported in 159 ITR 78 (SC) and Hon’ble Gujarat High Court in the case of DCIT vs Rohini Builders reported in 256 ITR 360 (Guj) , wherein it was held that onus of the assessee (in whose books of account, the credit appears) stands fully discharged, if the identity of the creditor is establishd and actual receipt of money from such creditor is proved. In case, the Assess…

Ritudhara Distributors Pvt. Ltd., Kolkata vs. I.T.O., Ward - 4(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 1103/KOL/2024[2012-2013]Status: DisposedITAT Kolkata24 Feb 2025AY 2012-2013

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Ito, Ward-4(1), Kolkata Aaykar Bhavan, P-7, Ritudhara Distributors Pvt. Ltd. 5/1, Clive Row, 4 Th Floor, Chowringhee Square, Vs. Kolkata-700001, West Bengal Kolkata-700069, West Bengal (Appellant) (Respondent) Pan No. Aafcr7607A Assessee By : Shri Somitra Choudhury, Ar Revenue By : Shri Subhendu Datta, Dr Date Of Hearing: 10.02.2025 Date Of Pronouncement : 24.02.2025

For Appellant: Shri Somitra Choudhury, ARFor Respondent: Shri Subhendu Datta, DR
Section 131Section 142(1)Section 143(2)Section 143(3)Section 250Section 6

…company. The ld. AR further submitted that the addition cannot be made on the ground that there was no compliance to the summons issued u/s 131 of the Act and in defense he is relied on the following decisions: (i) CIT Vs. Orissa Corporation Pvt. Ltd. (1986) 159 ITR 78 (SC); (ii) CIT Vs. Orchid Industries Ltd. 397 ITR 136 (Bom); (iii) Crystal Networks Pvt. Ltd. Vs. CIT 353 ITR 171 (Kol); (iv) ITO Vs. M/s. Cygnus Developers India Pvt. Ltd.(ITA No. 282/Kol/2012) and (v) Joy Consolidated Pvt. Ltd. Vs. ITO (ITA No. 547/Kol/2020. Ritudhara Distributors Pvt. Ltd.; A.Y. 2012-13 09. Further, the ld. AR submitted that t…

Assistant Commissioner of Income Tax Central Circle3-(4), Hyderabad vs. Aarthik Greentech Solutions Private Limited, Hyderabad

In the result, appeal filed by the Revenue is dismissed

ITA 32/HYD/2021[2014-15]Status: DisposedITAT Hyderabad21 Feb 2025AY 2014-15

Bench: Shri Manjunatha G. & Shri K.Narasimha Charyआ.अपी.सं /Ita No.32/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner Of Vs. Aarthik Greentech Income Tax Solutions Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [Pan : Aalca6887D] आ.अपी.सं /Ita No.33/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner Of Vs. Aarthik Infra Projects Income Tax Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [Pan : Aahca0719N] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Ms.M.Narmada, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 19/12/2024 घोर्णध की तधरीख/Date Of 21/02/2025 Pronouncement: आदेश / Order Per. Manjunatha G., A.M: These Appeals Filed By The Revenue Are Directed Against Order Dated 11.09.2020 Of The Commissioner Of Income Tax (Appeals) [“Ld.Cit(A)”]-11, Hyderabad Pertaining To A.Y.2014-15. Since, Facts Are Identical & Issues Are Common, For The Sake Of Aarthik Greentech Solutions Pvt. Ltd. & Aarthik Infra Projects Pvt.Ltd.

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Ms.M.Narmada, CIT-DR
Section 132Section 143(1)Section 153C

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Manjunatha G., Accountant Member and Shri K.Narasimha Chary, Judicial Member आ.अपी.सं /ITA No.32/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner of Vs. Aarthik Greentech Income Tax Solutions Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [PAN : AALCA6887D] आ.अपी.सं /ITA No.33/Hyd/2021 (निर्धारण वर्ा/Assessment Year: 2014-15) Asst.Commissioner of Vs. Aarthik Infra Projects Income Tax Pvt.Ltd. Central Circle-3(4) Hyderabad Hyderabad [PAN : AAHCA0719N] (Appellant) (Respondent) निर्…

Assistant Commissioner of Income Tax, Central Circle 3(4), Hyderabad vs. Zainab Investments Private Limited, Hyderabad

ITA 70/HYD/2021[2018-19]Status: DisposedITAT Hyderabad20 Feb 2025AY 2018-19

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी. सं/Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ष/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad (Appellant) Vs. M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ष/A.Y: 2018-19) Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad (Appellant) Vs. M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ष/A.Y: 2018-19) M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] (Appellant) Vs. Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad (Respondent) निर्धारिती द्वारा / Assessee By: Shri P.Murali Mohan Rao,Ar राजस्व द्वारा / Revenue By: Shri Srinath Sadanala, Dr सुनवाई की तारीख / Date Of Hearing: 26/11/2024 घोषणा की तारीख / Date Of 20/02/2025 Pronouncement: 2

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153ASection 68

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., -- 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no d…

Assiatant Commissioner of Income Tax, Central Circle 3(4), Hyderabad vs. Zainab Investments Private Limited, Hyderabad

In the result, appeals filed by the Revenue and the assessee for the A

ITA 69/HYD/2021[2016-17]Status: DisposedITAT Hyderabad20 Feb 2025AY 2016-17

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी.सं /Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ा/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) M/S Zainab Investments Vs. Asst.Commissioner Of Income Tax Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 26/11/2024 घोर्णध की तधरीख/Date Of 20/02/2025 Pronouncement:

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153A

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no di…

Assistant Commissioner of Income Tax, Central Circle 3(4), Hyderabad vs. Zainab Investments Private Limited, Hyderabad

In the result, appeals filed by the Revenue and the assessee for the A

ITA 68/HYD/2021[2015-16]Status: DisposedITAT Hyderabad20 Feb 2025AY 2015-16

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी.सं /Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ा/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) M/S Zainab Investments Vs. Asst.Commissioner Of Income Tax Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 26/11/2024 घोर्णध की तधरीख/Date Of 20/02/2025 Pronouncement:

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153A

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no di…

Assiatant Commissioner of Income Tax, Central Circle-3(4), Hyderabad vs. Zainab Investments Private Limited, Hyderabad

In the result, appeals filed by the Revenue and the assessee for the A

ITA 67/HYD/2021[2013-14]Status: DisposedITAT Hyderabad20 Feb 2025AY 2013-14

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी.सं /Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ा/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) M/S Zainab Investments Vs. Asst.Commissioner Of Income Tax Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 26/11/2024 घोर्णध की तधरीख/Date Of 20/02/2025 Pronouncement:

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153A

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no di…

Assistant Commissioner of Income Tax, Central Circle-3(4), Hyderabad vs. Zainab Investments Private Limited, Secunderabad

ITA 66/HYD/2021[2011-12]Status: DisposedITAT Hyderabad20 Feb 2025AY 2011-12

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी. सं/Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ष/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad Vs. M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ष/A.Y: 2018-19) Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad Vs. M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ष/A.Y: 2018-19) M/S Zainab Investments Pvt. Ltd. Secunderabad [Pan : Aaacz4043R] Vs. Asst.Commissioner Of Income Tax Central Circle-3(4) Hyderabad (Appellant) (Respondent) निर्धारिती द्वारा / Assessee By: Shri P.Murali Mohan Rao,Ar राजस्व द्वारा / Revenue By: Shri Srinath Sadanala, Dr सुनवाई की तारीख / Date Of Hearing: |26/11/2024 घोषणा की तारीख / Date Of Pronouncement: 20/02/2025

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153ASection 68

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., -- 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no d…

Zainab Investments Private Limited, Secunderabad vs. Deputy Commissioner of Income Tax, Central Circle -3(4), Hyderabad

In the result, appeals filed by the Revenue and the assessee for the A

ITA 111/HYD/2021[2018-19]Status: DisposedITAT Hyderabad20 Feb 2025AY 2018-19

Bench: Shri Manjunatha G. & Shri K.Narsimha Charyआ.अपी.सं /Ita No.66/Hyd/2021 To 69/Hyd/2021 (निर्धारण वर्ा/A.Y: 2011-12, 2013-14, 2015-16 & 2016-17) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.70/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) Asst.Commissioner Of Vs. M/S Zainab Income Tax Investments Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) आ.अपी.सं /Ita No.111/Hyd/2021 (निर्धारण वर्ा/A.Y: 2018-19) M/S Zainab Investments Vs. Asst.Commissioner Of Income Tax Pvt. Ltd. Central Circle-3(4) Secunderabad Hyderabad [Pan : Aaacz4043R] (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Shri P.Murali Mohan Rao,Ar रधजस् व द्वधरध/Revenue By: Shri Srinath Sadanala, Dr सुिवधई की तधरीख/Date Of Hearing: 26/11/2024 घोर्णध की तधरीख/Date Of 20/02/2025 Pronouncement:

For Appellant: Shri P.Murali Mohan Rao,ARFor Respondent: Shri Srinath Sadanala, DR
Section 132Section 143(1)Section 153A

…he decision of Hon'ble Supreme Court in the case of CIT Vs.Lovely Exports 216 CTR 195 (SC) (supra). The assessee had also relied upon the decision of Hon'ble Supreme Court in the case of Commissioner Of Income-Tax, Orissa vs Orissa Corporation (P) Ltd. (1986) 159 ITR 78 (SC). 18 ITA No.66 - 69/Hyd/2021 and ITA No.70& 111/Hyd/2021 Zainab Investments Pvt. Ltd., 22. We have heard both the parties, perused the material on record and gone through the orders of the authorities below. We have also carefully considered the relevant case laws referred to by both the parties, in support of their arguments. There is no di…