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 366,470 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
Read the full judgment

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.

ACIT Cent. Cir-4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

ITA 2223/MUM/2021[2013-14]Status: DisposedITAT Mumbai07 Jun 2022AY 2013-14

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 Cent. Cir -4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

ITA 2221/MUM/2021[2010-11]Status: DisposedITAT Mumbai07 Jun 2022AY 2010-11

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…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

ITA 1497/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…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4 (4), Mumbai

In the result, the appeals of the assessee i

ITA 1496/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…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC 4(4), Mumbai

In the result, the appeals of the assessee i

ITA 1495/MUM/2021[2014-15]Status: DisposedITAT Mumbai07 Jun 2022AY 2014-15

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…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

ITA 1494/MUM/2021[2013-14]Status: DisposedITAT Mumbai07 Jun 2022AY 2013-14

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…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

ITA 1493/MUM/2021[2011-12]Status: DisposedITAT Mumbai07 Jun 2022AY 2011-12

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…

Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

ITA 1492/MUM/2021[2010-11]Status: DisposedITAT Mumbai07 Jun 2022AY 2010-11

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…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 270/MUM/2020[2012-13]Status: DisposedITAT Mumbai29 Mar 2022AY 2012-13

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 267, 268, 269 & 270/MUM/2020 (A.Ys: 2009-10, 2010-11, 2011-12 & 2012-13) Aravind Hanjarimal Jain v. ACIT – 31(1) 23/26, Vijay Vills Jawahar Nagar Kautilya Bhavan S.V. Road, Goregaon (W) Bandra Kurla Complex Mumbai - 400062 Bandra(E), Mumbai - 400051 PAN: AAAPJ9738Q (Appellant) (Respondent) Assessee by : Shri Jain Dixit Department by : Shri Mehul Jain Date of Hearing : 13.01.2022 Date of Pronouncement : 29.03.2022 O R D E R PER S.…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 269/MUM/2020[2011-12]Status: DisposedITAT Mumbai29 Mar 2022AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 267, 268, 269 & 270/MUM/2020 (A.Ys: 2009-10, 2010-11, 2011-12 & 2012-13) Aravind Hanjarimal Jain v. ACIT – 31(1) 23/26, Vijay Vills Jawahar Nagar Kautilya Bhavan S.V. Road, Goregaon (W) Bandra Kurla Complex Mumbai - 400062 Bandra(E), Mumbai - 400051 PAN: AAAPJ9738Q (Appellant) (Respondent) Assessee by : Shri Jain Dixit Department by : Shri Mehul Jain Date of Hearing : 13.01.2022 Date of Pronouncement : 29.03.2022 O R D E R PER S.…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 268/MUM/2020[2010-11]Status: DisposedITAT Mumbai29 Mar 2022AY 2010-11

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 267, 268, 269 & 270/MUM/2020 (A.Ys: 2009-10, 2010-11, 2011-12 & 2012-13) Aravind Hanjarimal Jain v. ACIT – 31(1) 23/26, Vijay Vills Jawahar Nagar Kautilya Bhavan S.V. Road, Goregaon (W) Bandra Kurla Complex Mumbai - 400062 Bandra(E), Mumbai - 400051 PAN: AAAPJ9738Q (Appellant) (Respondent) Assessee by : Shri Jain Dixit Department by : Shri Mehul Jain Date of Hearing : 13.01.2022 Date of Pronouncement : 29.03.2022 O R D E R PER S.…

Arvind Hanjarimal Jain, Mumbai vs. Asst CIT 31 (2), Mumbai

In the result, all the appeals filed by the assessee are allowed

ITA 267/MUM/2020[2009-10]Status: DisposedITAT Mumbai29 Mar 2022AY 2009-10

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Jain DixitFor Respondent: Shri Mehul Jain
Section 132Section 133(6)Section 139Section 143Section 143(2)Section 143(3)Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 267, 268, 269 & 270/MUM/2020 (A.Ys: 2009-10, 2010-11, 2011-12 & 2012-13) Aravind Hanjarimal Jain v. ACIT – 31(1) 23/26, Vijay Vills Jawahar Nagar Kautilya Bhavan S.V. Road, Goregaon (W) Bandra Kurla Complex Mumbai - 400062 Bandra(E), Mumbai - 400051 PAN: AAAPJ9738Q (Appellant) (Respondent) Assessee by : Shri Jain Dixit Department by : Shri Mehul Jain Date of Hearing : 13.01.2022 Date of Pronouncement : 29.03.2022 O R D E R PER S.…

Luxora Infrastructure P. Ltd., Mumbai vs. DCIT Central Circle-2(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1608/MUM/2020[201-12]Status: DisposedITAT Mumbai09 Mar 2022

Bench: Shri Shamim Yahya

Section 143(3)Section 154Section 234ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Before Shri Shamim Yahya, Accountant Member I.T.A. No. 1608/Mum/2020 (Assessment Year 2011-12) Vs. DCIT,CC-2(1) Luxora Infrastructure Pvt.Ltd. 1207, 12th Floor Prathishta Bhawan ‘A’ Wing,O2 commercial 8th Floor, Mumbai-400 020 Building, 23-24, Minerva Industrial Estte, Off.LBS Road, Mulund(W) Mumbai-400 080 PAN : AABCL2854K (Appellant) (Respondent) Shri K.P.Dewani Assessee by Department by Shri Abhirama Karthikeyan Date of Hearing 16.12.2021 Date of Pronouncement 09.03.2022 O R D E R Per Shri Shamim Yahya (AM) :- This appeal by the assessee is dir…

ACIT, Central Circle-2(1), Mumbai vs. M/S Luxora Realtors P. Ltd., Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 1096/MUM/2020[2013-14]Status: DisposedITAT Mumbai08 Feb 2022AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Bleacit – Central Circle – 2(1) V. M/S. Luxora Realtors Pvt. Ltd., Room No. 804, 8Th Floor Soham House, Hari Om Nagar Aayakar Bhavan, M.K. Road Opp. Eastern Express Highway Mumbai - 400020 Mulund(E), Mumbai – 400081 Pan: Aabco3197J (Appellant) (Respondent) Assessee By : Shri Kishore Dewani Department By : Ms. Shailja Rai

For Appellant: Shri Kishore DewaniFor Respondent: Ms. Shailja Rai
Section 132(1)Section 143(2)Section 143(3)Section 153CSection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER ACIT – Central Circle – 2(1) v. M/s. Luxora Realtors Pvt. Ltd., Room No. 804, 8th Floor Soham House, Hari Om Nagar Aayakar Bhavan, M.K. Road Opp. Eastern Express Highway Mumbai - 400020 Mulund(E), Mumbai – 400081 PAN: AABCO3197J (Appellant) (Respondent) Assessee by : Shri Kishore Dewani Department by : Ms. Shailja Rai Date of Hearing : 13.01.2022 Date of Pronouncement : 08.02.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed…

Dy CIT Central Circle-4(1), Mumbai vs. M/S Vinodkumar Bajaj & Company HUF, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 1873/MUM/2020[2009-10]Status: DisposedITAT Mumbai27 Jan 2022AY 2009-10
For Appellant: Ms. Hema SharmaFor Respondent: Shri S.N. Kabra
Section 132(4)Section 143(3)Section 148Section 68

…(P.) Ltd (2013) 38 Taxmann.com 375 (High Court) 10. CIT vs. Dwarkadish Investment (P) Ltd (2011) 330 ITR 298 (Del- High Court) 11. CIT vs. Namastey Chemicals Pvt. Ltd (2013) 33 Taxmann.com 271 (Guj-High Court) 12. CIT vs. Peoples General Hospital Ltd. (2013) 356 ITR 65 (WIP- High Court) 13. CIT vs. Shree Rama Multi Tech Ltd. (2013) 34 Taxmann.com 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. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO a…

DCIT 5 (1), Indore vs. M/S Sanverwala Jewellers Pvt. Ltd, Indore

ITA 384/IND/2018[12-13]Status: DisposedITAT Indore22 Sept 2021

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing Assessment Year:2012-13 Dcit-5(1) M/S. Sanverwala Jewellers Pvt. Indore Ltd. बनाम/ 12, Chhota Sarafa Vs. Indore (Appellant) (Revenue ) P.A. No.Aaocs7650K Appellant By Shri Rajeeb Jain, Sr. Dr Respondent By S/Shri S.N. Agrawal & Bhavesh Agrawal, Ars Date Of Hearing: 22.06.2021 Date Of Pronouncement: 22.09.2021 आदेश / O R D E R Per Manish Borad, A.M:

Section 131Section 143(3)Section 68

…d. ITANo.384/Ind/2018 Hon’ble Supreme Court of India in the case of CIT Vs Lovely Exports (P.) Ltd. as reported in [2008] 216 CTR 195 (SC) The Hon’ble Madhya Pradesh High Court in the case of CIT, Bhopal v. Peoples General Hospital Ltd. as reported in [2013] 356 ITR 65 (Madhya Pradesh) The Hon’ble Madhya Pradesh High Court in the case of CIT v. Metachem Industries as reported in [2000] 245 ITR 160 (Madhya Pradesh) The Hon’ble Bombay High Court in the case of Pr. CIT- 1 v. Ami Industries (India)(P.) Ltd. as reported in [2020] 116 taxmann.com 34 (Bombay) The Hon’ble Delhi High Court in the case of CIT v. Value Cap…

Indravadan Hanjarimal Jain, Mumbai vs. Asst CIT 31(2), Mumbai

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

ITA 278/MUM/2020[2008-09]Status: DisposedITAT Mumbai08 Sept 2021AY 2008-09

Bench: Shri Rajesh Kumar & Shri Ravish Sood

For Appellant: Shri Jain Dixit, A.RFor Respondent: Ms. Shreekala Pardesh, D.R
Section 143(3)Section 147Section 148Section 148(2)Section 234BSection 271(1)(c)Section 68

…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 CC 1 (3), Mumbai vs. M/S Neminath Associates, Mumbai

In the result, appeals of the revenue are dismissed

ITA 8043/MUM/2019[2013-14]Status: DisposedITAT Mumbai14 Jun 2021AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

For Appellant: Ms. Hema SharmaFor Respondent: Shri Tharian Oommen
Section 143(3)Section 147Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “B” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI M. BALAGANESH, HON'BLE ACCOUNTANT MEMBER ITA NOs. 8034, 8035 & 8043/MUM/2019 (A.Y: 2011-12, 2012-13 & 2013-14) Asst. CIT – Central Circle - 1(3) v. M/s. Neminath Associates 905, 9th Floor B-101, Ramji House Pratistha Bhavan 1st Floor, Kalbadevi Road Old. C.G.O. Building (Annexe) 30, Jambul Wadi Aayakar Bhavan, M.K. Road Mumbai – 400002 Mumbai - 400020 PAN: AAHFN7114P (Appellant) (Respondent) Assessee by : Ms. Hema Sharma Department by : Shri Tharian Oommen Date of Hearing : 20.05.2021…

Asst CIT CC 1 (3), Mumbai vs. M/S Neminath Associates, Mumbai

In the result, appeals of the revenue are dismissed

ITA 8035/MUM/2019[2012-13]Status: DisposedITAT Mumbai14 Jun 2021AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

For Appellant: Ms. Hema SharmaFor Respondent: Shri Tharian Oommen
Section 143(3)Section 147Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “B” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI M. BALAGANESH, HON'BLE ACCOUNTANT MEMBER ITA NOs. 8034, 8035 & 8043/MUM/2019 (A.Y: 2011-12, 2012-13 & 2013-14) Asst. CIT – Central Circle - 1(3) v. M/s. Neminath Associates 905, 9th Floor B-101, Ramji House Pratistha Bhavan 1st Floor, Kalbadevi Road Old. C.G.O. Building (Annexe) 30, Jambul Wadi Aayakar Bhavan, M.K. Road Mumbai – 400002 Mumbai - 400020 PAN: AAHFN7114P (Appellant) (Respondent) Assessee by : Ms. Hema Sharma Department by : Shri Tharian Oommen Date of Hearing : 20.05.2021…

Asst CIT CC 1 (3), Mumbai vs. M/S Neminath Associates, Mumbai

In the result, appeals of the revenue are dismissed

ITA 8034/MUM/2019[2011-12]Status: DisposedITAT Mumbai14 Jun 2021AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri M. Balaganesh, Hon'Ble

For Appellant: Ms. Hema SharmaFor Respondent: Shri Tharian Oommen
Section 143(3)Section 147Section 271(1)(c)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “B” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI M. BALAGANESH, HON'BLE ACCOUNTANT MEMBER ITA NOs. 8034, 8035 & 8043/MUM/2019 (A.Y: 2011-12, 2012-13 & 2013-14) Asst. CIT – Central Circle - 1(3) v. M/s. Neminath Associates 905, 9th Floor B-101, Ramji House Pratistha Bhavan 1st Floor, Kalbadevi Road Old. C.G.O. Building (Annexe) 30, Jambul Wadi Aayakar Bhavan, M.K. Road Mumbai – 400002 Mumbai - 400020 PAN: AAHFN7114P (Appellant) (Respondent) Assessee by : Ms. Hema Sharma Department by : Shri Tharian Oommen Date of Hearing : 20.05.2021…