CIT v. Peoples General Hospital Ltd.

356 ITR 65High Court2013#1231 most cited

What is CIT v. Peoples General Hospital Ltd. authority for?

If share subscriptions are received through banking channels and the assessee provides complete shareholder details, no addition can be made under Section 68 unless there is positive material to show the shareholders are benamidars or fictitious, or the share capital is the company's own undisclosed income.

92

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

Also referred to as

CIT v. Peoples General Hospital Ltd. · Section 68 Income-tax Act · 1961 · share application money · share capital addition · bogus share capital · creditworthiness of creditor · genuineness of transaction · Lovely Exports principle · undisclosed income

Also reported as

35 Taxmann.com 444

Sections most often in play

Section 1961Section 133(6) of the Income-tax ActSection 142(1) of the Income-tax ActSection 143(2) of the Income-tax ActSection 143(3) of the Income-tax ActSection 36(1)(iii)Section 40(a)(ia)Section 68

Issues it is cited on

bogus share capitalcreditworthiness of the creditorretracted statementsource of sourceshare capital and share premiumaddition u/s 68section 254(2)paper companysection 132(1)addition under section 68share application moneygenuineness of the transaction

Judgments citing CIT v. Peoples General Hospital Ltd.

RAKESH JAIN,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE (NFAC), DELHI

In the result the appeal filed by the assessee stands allowed

ITA 546/MUM/2025[2017-18]Status: DisposedITAT Mumbai04 Dec 2025AY 2017-18
Section 115Section 144Section 145Section 156Section 250Section 274Section 68

…squarely within\nthe ambit of the judgment of the Supreme court in the case nf\nLovely Exports(supra). No error of law can be stated to have been\ncommitted by the Tribunal. Tax Appeal is therefore dismissed.\"\nu. CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65\n(MP High Court)"Held dismissing the appeals that it the\nassessee had received subscriptions to the public or rights issue\nthrough banking channels and furnished complete details of the\nshareholders, no addition could be made tinder section 68 of the\nIncome-tax Act, 1961, in the absence of any positive material or\nevidence to indicate that th…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), NAGPUR vs. M/S. FUELCO COAL INDIA LTD., NAGPUR

Appeal of the Revenue is dismissed

ITA 90/NAG/2022[2014-15]Status: DisposedITAT Nagpur14 Feb 2025AY 2014-15

Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke
Section 143(2)Section 143(3)Section 36(1)(iii)Section 40Section 40aSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGARAO, JUDICIAL MEMBER AND SHRIK.M. ROY, ACCOUNTANT, MEMBER ITA no.90/Nag./2022 (Assessment Year : 2014–15) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–1(2), Nagpur v/s M/s. Fuel Co. Coal India Ltd. 926–A, Fulwani Palace ……………. Respondent Central Avenue, Despande Layout Nagpur 440 008 PAN – AAACF8231B Assessee by : Shri Kishore P. Dewani Revenue by : Shri Sandipkumar Salunke Date of Hearing – 30/01/2025 Date of Order – 14/02/2025 O R D E R PER V. DURGA RAO, J.M. The appeal by the assessee is emanating from the impu…

HERITAGE HOSPITALS LTD,NEW DELHI vs. DCIT, CIRCLE-11(1), NEW DELHI

ITA 4090/DEL/2018[2014-15]Status: DisposedITAT Delhi30 Oct 2024AY 2014-15

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Anand Kumar Pandey, AdvFor Respondent: Shri Sandeep Kumar Mishra, Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 68

…) CIT Vs. Laxman Industrial Resources Pvt Ltd (Del)ITA No. 169 of 2017 dated 14.03.2017. (f) Earthmetal Electrical Pvt Ltd. (SC) SLP No. 21073 of 1999 dated 30.07.2010. (g) Divine Leasing & Finance Ltd 299 ITR 268(Del) (h) CIT Vs. Peoples General Hospital Ltd 356 ITR 65(MP). i) Dwarkadish Investment Pvt Ltd (Del)ITA No. 911 of 2010 (j) CIT Vs. Winstral Petrochemicals Pvt Ltd 330 ITR 603(Del). (k) CIT Vs. Value Capital Services Pvt Ltd 307 ITR 334(Del). 11. Per contra, the ld. DR relied upon the orders of the ld. CIT(A). The ld DR vehemently argued that the assessee company introduced its own fund in the form of…

DCIT-15(1)(2), MUMBAI vs. LUXORA REALTORS PVT LTD.,, MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1025/MUM/2023[2013-14]Status: DisposedITAT Mumbai23 Aug 2023AY 2013-14

Bench: Shri Pavan Kumar Gadale, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bledcit-15(1)(2) V. Luxora Realtors Pvt. Ltd 459, Ayakar Bhawan Unit No. 150, Avior Corporate Park Nirmal Galaxy Lbs Road M.K. Road, Mumbai- 40020 Mulund (W), Mumbai- 400080 Pan: Aabco3197J (Appellant) (Respondent)

Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT-15(1)(2) v. Luxora Realtors Pvt. Ltd 459, Ayakar Bhawan Unit No. 150, Avior Corporate Park Nirmal Galaxy LBS Road M.K. Road, Mumbai- 40020 Mulund (W), Mumbai- 400080 PAN: AABCO3197J (Appellant) (Respondent) Assessee Represented by : Shri. K.P. Devani Department Represented by : Ms. Smiti Samant Date of conclusion of Hearing : 15.06.2023 Date of Pronouncement : 23.08.2023 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by th…

BHANDARI GOLD AND JEWELLERS PRIVATE LIMITED,MUMBAI vs. CIT (APPEAL), NFAC - DELHI

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 1619/MUM/2022[2017-2018]Status: DisposedITAT Mumbai19 Jul 2023AY 2017-2018

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

Section 143(3)Section 68

…ra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." Page No. | 42 ITA NO. 1564& 1619/MUM/2022 (A.Y: 2017-18) M/s. Bandari Gold and Jewellers Pvt. Ltd., Z. CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP High Court) "Held, dismissing the appeals, that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that the s…

CY. CIT 6(1) (2) , MUMBAI vs. M/S. BHANDARI GOLD & JEWELLERS PVT. LTD, MUMBAI

In the result, appeal filed by the assessee is allowed for statistical purpose

ITA 1564/MUM/2022[2017-18]Status: DisposedITAT Mumbai19 Jul 2023AY 2017-18

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – 6(1)(2) V. M/S. Bandari Gold & Jewellers Pvt. Ltd., 407, Bussaudyog Bhavan Room No. 538B, 5Th Floor Tokersi, Jivraj Road, Sewree Aayakar Bhavan, M.K. Road Mumbai - 400015 Mumbai - 400020 Pan: Aadcb1291J (Appellant) (Respondent)

Section 143(3)Section 68

…ra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." Page No. | 42 ITA NO. 1564& 1619/MUM/2022 (A.Y: 2017-18) M/s. Bandari Gold and Jewellers Pvt. Ltd., Z. CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP High Court) "Held, dismissing the appeals, that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that the s…

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 230/IND/2021[2017-18]Status: DisposedITAT Indore30 Mar 2023AY 2017-18

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…nd any doubt.” 22. The assessee relied upon the following judgments: i. Orissa Corporation (P.) Limited, reported in 159 ITR 78 (SC) ii. CIT vs. Metachem Industries, reported in 245 ITR 160 (MP) iii. CIT vs. Peoples General Hospital Ltd., reported in (2013) 356 ITR 65 (MP) iv. Ashokpal Daga (HUF) vs. CIT, reported in 220 ITR 452 (MP) v. CIT vs. Barjatiya Children Trust, reported in 225 ITR 640 (MP) vi. ACIT vs. M/s. Ariba Foods Pvt. Ltd. in ITA No. 736/Ind/2019 vii. CIT vs. Ranchod Jivabhai Nakhava, reported in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, repo…

ACIT CENTRAL-2, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 229/IND/2021[2014-15]Status: DisposedITAT Indore30 Mar 2023AY 2014-15

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…nd any doubt.” 22. The assessee relied upon the following judgments: i. Orissa Corporation (P.) Limited, reported in 159 ITR 78 (SC) ii. CIT vs. Metachem Industries, reported in 245 ITR 160 (MP) iii. CIT vs. Peoples General Hospital Ltd., reported in (2013) 356 ITR 65 (MP) iv. Ashokpal Daga (HUF) vs. CIT, reported in 220 ITR 452 (MP) v. CIT vs. Barjatiya Children Trust, reported in 225 ITR 640 (MP) vi. ACIT vs. M/s. Ariba Foods Pvt. Ltd. in ITA No. 736/Ind/2019 vii. CIT vs. Ranchod Jivabhai Nakhava, reported in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, repo…

DCIT CENTRAL-1, INDORE vs. SARTHAK INNOVATION (P) LTD., INDORE

ITA 228/IND/2021[2013-14]Status: DisposedITAT Indore30 Mar 2023AY 2013-14

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

For Appellant: 28.02.2023For Respondent: Shri P. K. Mishra, CIT.D.R
Section 127Section 142(1)Section 143(2)Section 143(3)Section 404(2)Section 40ASection 40A(2)Section 40A(2)(a)Section 40A(2)(b)

…nd any doubt.” 22. The assessee relied upon the following judgments: i. Orissa Corporation (P.) Limited, reported in 159 ITR 78 (SC) ii. CIT vs. Metachem Industries, reported in 245 ITR 160 (MP) iii. CIT vs. Peoples General Hospital Ltd., reported in (2013) 356 ITR 65 (MP) iv. Ashokpal Daga (HUF) vs. CIT, reported in 220 ITR 452 (MP) v. CIT vs. Barjatiya Children Trust, reported in 225 ITR 640 (MP) vi. ACIT vs. M/s. Ariba Foods Pvt. Ltd. in ITA No. 736/Ind/2019 vii. CIT vs. Ranchod Jivabhai Nakhava, reported in (2012) 208 Taxman 35 (Guj) (ACIT vs. Sarthak Innovation (P) Ltd. viii. DCIT vs. Rohini Builders, repo…

ASST CIT CC 1 (3), MUMBAI vs. M/S POONAM SKYLINE CONSTRUCTION , MUMBAI

In the result, all the revenue appeals are dismissed and the appeal of the assessee is allowed

ITA 752/MUM/2020[2012-13]Status: DisposedITAT Mumbai05 Dec 2022AY 2012-13
Section 132(1)Section 133A

…d fall squarely within the ambit of the judgment of the Supreme court in the case of Lovely Exports (supra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP- High Court) "Held , dismissing the appeals , that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that t…

ASST CIT CC 1 (3) , MUMBAI vs. M/S POONAM SHANTI DEVELOPERS , MUMBAI

In the result, all the revenue appeals are dismissed and the appeal of the assessee is allowed

ITA 751/MUM/2020[2013-14]Status: DisposedITAT Mumbai05 Dec 2022AY 2013-14
Section 132(1)Section 133A

…d fall squarely within the ambit of the judgment of the Supreme court in the case of Lovely Exports (supra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP- High Court) "Held , dismissing the appeals , that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that t…

ASST CIT CC 1 (3) , MUMBAI vs. M/S POONAM REALTY , MUMBAI

In the result, all the revenue appeals are dismissed and the appeal of the assessee is allowed

ITA 750/MUM/2020[2014-15]Status: DisposedITAT Mumbai05 Dec 2022AY 2014-15
Section 132(1)Section 133A

…d fall squarely within the ambit of the judgment of the Supreme court in the case of Lovely Exports (supra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP- High Court) "Held , dismissing the appeals , that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that t…

ASST CIT CC 1 (3) , MUMBAI vs. M/S POONAM MEGA DEVELOPERS , MUMBAI

In the result, all the revenue appeals are dismissed and the appeal of the assessee is allowed

ITA 749/MUM/2020[2012-13]Status: DisposedITAT Mumbai05 Dec 2022AY 2012-13
Section 132(1)Section 133A

…d fall squarely within the ambit of the judgment of the Supreme court in the case of Lovely Exports (supra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP- High Court) "Held , dismissing the appeals , that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that t…

ASST CIT CC 1 (3) , MUMBAI vs. M/S POONAM MEGA DEVELOPERS , MUMBAI

In the result, all the revenue appeals are dismissed and the appeal of the assessee is allowed

ITA 748/MUM/2020[2011-12]Status: DisposedITAT Mumbai05 Dec 2022AY 2011-12
Section 132(1)Section 133A

…d fall squarely within the ambit of the judgment of the Supreme court in the case of Lovely Exports (supra). No error of law can be stated to have been committed by the Tribunal. Tax Appeal is therefore dismissed." CIT vs. Peoples General Hospital Ltd (2013) 356 ITR 65 (MP- High Court) "Held , dismissing the appeals , that it the assessee had received subscriptions to the public or rights issue through banking channels and furnished complete details of the shareholders, no addition could be made tinder section 68 of the Income-tax Act, 1961, in the absence of any positive material or evidence to indicate that t…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S SNOWSHINE REALTORS PVT.LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1443/BANG/2018[2008-09]Status: DisposedITAT Bangalore28 Oct 2022AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…V. Bhaval Synthetics (2013) 35 Taxmann.com 83 (Raj) (x) CIT V. Miq Steels (P) Ltd (2013) 36 Taxmann.com 422/217 (xi) Taxman 209 (AII)/CIT V. Kamna Medical Centre (P) Ltd (2013) 35 Taxmann.com 470/217 Taxman 16 (All) CIT V. Peoples General Hospital Ltd (2013) 35 Taxmann.com 444 (xii) (MP) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s. Kansur Developers India Pvt. Ltd., Bangalore M/s. Snowshine Realtors Pvt. Ltd., Bangalore Page 21 of 49 CIT V. Al Anam Agro Foods (P) Ltd (2013) 38 Taxmann.com 375 (xiii) (All) CIT V. Divine Leasing & Finance Ltd (2008) 299…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1442/BANG/2018[2012-13]Status: DisposedITAT Bangalore28 Oct 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…V. Bhaval Synthetics (2013) 35 Taxmann.com 83 (Raj) (x) CIT V. Miq Steels (P) Ltd (2013) 36 Taxmann.com 422/217 (xi) Taxman 209 (AII)/CIT V. Kamna Medical Centre (P) Ltd (2013) 35 Taxmann.com 470/217 Taxman 16 (All) CIT V. Peoples General Hospital Ltd (2013) 35 Taxmann.com 444 (xii) (MP) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s. Kansur Developers India Pvt. Ltd., Bangalore M/s. Snowshine Realtors Pvt. Ltd., Bangalore Page 21 of 49 CIT V. Al Anam Agro Foods (P) Ltd (2013) 38 Taxmann.com 375 (xiii) (All) CIT V. Divine Leasing & Finance Ltd (2008) 299…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1-(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD., BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1441/BANG/2018[2009-10]Status: DisposedITAT Bangalore28 Oct 2022AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…V. Bhaval Synthetics (2013) 35 Taxmann.com 83 (Raj) (x) CIT V. Miq Steels (P) Ltd (2013) 36 Taxmann.com 422/217 (xi) Taxman 209 (AII)/CIT V. Kamna Medical Centre (P) Ltd (2013) 35 Taxmann.com 470/217 Taxman 16 (All) CIT V. Peoples General Hospital Ltd (2013) 35 Taxmann.com 444 (xii) (MP) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s. Kansur Developers India Pvt. Ltd., Bangalore M/s. Snowshine Realtors Pvt. Ltd., Bangalore Page 21 of 49 CIT V. Al Anam Agro Foods (P) Ltd (2013) 38 Taxmann.com 375 (xiii) (All) CIT V. Divine Leasing & Finance Ltd (2008) 299…

DCIT-CC-7(3), MUMBAI , MUMBAI vs. SHRI MAJNI KARAMSHI PATEL, MUMBAI

In the result, the cross objections of the assessee and the appeal filed by the revenue is dismissed

ITA 6128/MUM/2019[2014-15]Status: DisposedITAT Mumbai10 Aug 2022AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyal, Accountat Member Dcit, Cc-7(3) Vs. Shri Manji Karamshi Room No. 655, Patel Aayakar Bhavan, Office No. 1, Patel M.K.Road, Bhavan-29, Vijaywadi, Mumbai.-400020. Dr. Nagindas N Shah Lane Chira Bazar, Mumbai – 400002. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabpp0130D Appellant .. Respondent Co No. 45/Mum/2021 (A.Y: 2014-15) Shri Manji Karamshi Vs. Dcit, Cc-7(3) Patel Room No. 655, Aayakar Office No. 1, Patel Bhavan, Bhuvan-29, Vijaywadi, M.K .Road, Dr. Nagindas N Shah Mumbai-400002. Lane Chira Bazar, Mumbai – 400002. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabpp0130D Appellant .. Respondent

For Appellant: Shri.Rushab Mehta.ARFor Respondent: Shri .T .Shankar.DR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 148Section 68

…elied upon against the assessee. It may also noted here that Mr. Suresh Kumar Jain has later on retracted from the statement on which no adverse finding has been given.... 18. ... It was further held in the case of CIT vs Peoples General Hospital Ltd. [2013] 356 ITR 65 (M.P. High Court) that "dismissing the appeals, that if the assessee had received subscriptions to the public or rights issue through ITA No. 6128/Mum/2019 & Co. No. 45/Mum/2021 Shri Majni Karmshi Patel, Mumbai. banking channels and furnished complete details of the shareholders, no addition could be made under section 68 of the Income-tax Act, 1…

ACIT CENTRAL CIR-4(4), MUMBAI vs. NADIADWALA GRANDSON ENTERTAINMENT PVT. LTD, MUMBAI

In the result, the appeals of the assessee i

ITA 2238/MUM/2021[2015-16]Status: DisposedITAT Mumbai07 Jun 2022AY 2015-16

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

For Appellant: Mani Jain &For Respondent: Dr. Mahesh Akhade
Section 132(1)Section 68

…on Entertainment Pvt. Ltd. Vs. DCIT, CC-4(4) 29 10. CIT vs. Dwarkadish Investment (P) Ltd (2011) 330 ITR-298(Del-High Court) 11. CIT vs. Namastey Chemicals Pvt. Ltd (2013) 33 Taxmann.corn 271 (Guj- High Court) 12. CIT vs. Peoples General Hospital Ltd. (2013) 356 ITR 65 (MP- High Court) 13. CIT vs. Shree Rama Multi Tech Ltd. (2013) 34 Taxmann.corn 177 (Guj-HC) 14. CIT vs. Nikunj Eximp Enterprises (P) Ltd (2013)35 Taxmann.com 384 (Bom) 15. CIT vs. Samir bio-Tech Pvt.Ltd. (2010) 325 ITR 294 (Del-High Court) 6. The ld. D.R on the other hand strongly supported the order of the ld. CIT(A) and submitted that the A.O as…

ACIT CENTRAL CIR-4(4), MUMBAI vs. NADIADWALA GRANDSON ENTERTAINMENT PVT. LTD, MUMBAI

In the result, the appeals of the assessee i

ITA 2237/MUM/2021[2016-17]Status: DisposedITAT Mumbai07 Jun 2022AY 2016-17

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

For Appellant: Mani Jain &For Respondent: Dr. Mahesh Akhade
Section 132(1)Section 68

…on Entertainment Pvt. Ltd. Vs. DCIT, CC-4(4) 29 10. CIT vs. Dwarkadish Investment (P) Ltd (2011) 330 ITR-298(Del-High Court) 11. CIT vs. Namastey Chemicals Pvt. Ltd (2013) 33 Taxmann.corn 271 (Guj- High Court) 12. CIT vs. Peoples General Hospital Ltd. (2013) 356 ITR 65 (MP- High Court) 13. CIT vs. Shree Rama Multi Tech Ltd. (2013) 34 Taxmann.corn 177 (Guj-HC) 14. CIT vs. Nikunj Eximp Enterprises (P) Ltd (2013)35 Taxmann.com 384 (Bom) 15. CIT vs. Samir bio-Tech Pvt.Ltd. (2010) 325 ITR 294 (Del-High Court) 6. The ld. D.R on the other hand strongly supported the order of the ld. CIT(A) and submitted that the A.O as…

Showing 1–20 of 92 · Page 1 of 5

CIT v. Peoples General Hospital Ltd. (356 ITR 65) — Cited in 92 Judgments | BharatTax