CIT v. Precision Finance Pvt. Ltd.

208 ITR 465High Court1994#168 most cited

What is CIT v. Precision Finance Pvt. Ltd. authority for?

When an assessee seeks to explain a cash credit under Section 68, they must prove the identity of the creditors, their creditworthiness or capacity to advance money, and the genuineness of the transactions. The burden of proof is not discharged merely by filing confirmatory letters or demonstrating banking channel transactions.

427

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2009 to 2026.

Also referred to as

CIT v. Precision Finance Pvt. Ltd. · Section 68 · cash credit · burden of proof · identity of creditor · creditworthiness of creditor · genuineness of transaction · unexplained money · confirmatory letters · banking channel transactions

Sections most often in play

Section 68Section 143(3)Section 133(6)Section 142(1)Section 147Section 148Section 1961Section 131

Issues it is cited on

creditworthiness of the creditorpaper companysource of sourceshare capital and share premiumlive linkshare application moneyentry operatorsection 251(1)(a)addition u/s 68genuineness of the transactionaddition under section 68borrowed satisfaction

Judgments citing CIT v. Precision Finance Pvt. Ltd.

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 24/CHNY/2018[2012-13]Status: DisposedITAT Chennai23 Jun 2021AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 23/CHNY/2018[2011-12]Status: DisposedITAT Chennai23 Jun 2021AY 2011-12

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

ACIT Central Circle 3 (1), Chennai vs. Smt Sasikala Raghupathy L/H of Late B G Raghupathy, Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 1512/CHNY/2018[2013-14]Status: PendingITAT Chennai23 Jun 2021AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

ACIT Central Circle 3 (1), Chennai vs. Smt Sasikala Raghupathy L/H of Late B G Raghupathy, Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 1511/CHNY/2018[2012-13]Status: DisposedITAT Chennai23 Jun 2021AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

ACIT Central Circle 3 (1), Chennai vs. Smt Sasikala Raghupathy L/H of Late B G Raghupathy, Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 1510/CHNY/2018[2011-12]Status: DisposedITAT Chennai23 Jun 2021AY 2011-12

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 116/CHNY/2018[2014-15]Status: DisposedITAT Chennai23 Jun 2021AY 2014-15

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri Abani Kanta Nayak, CIT

…es not get discharged by mere filing of confirmation letters. United Commercial & Industrial Co. (P.) Ltd (187 ITR 596) (Cal) e.. Payments made by account payee cheques do not make the transactions sacrosanct- Onus not discharged. Precision Finance (P.) Ltd (208 ITR 465) (Cal.) f. Furnishing of IT assessment and PAN etc., is not sufficient to discharge onus. Korlay Trading o. Ud. (232 ITR 820)(Cal.) 13. Considering the facts of the case as well as the judicial precedents as above, the additions of Rs. 71,97,83,480 for the Assessment Year.2011-12, Rs.40,20,69,745 for the Assessment Year.2012-13 and Rs.1,30,20,12…

Kasper Information Technology Pvt. Ltd., New Delhi vs. ITO Ward-14(2), New Delhi

ITA 9357/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO Ward - 14(2), New Delhi vs. Kasper Information Technology Pvt Ltd, New Delhi

ITA 9287/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO Ward - 13(3), New Delhi vs. Jingle Bells Aluminium Pvt. Ltd., New Delhi

ITA 5527/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

Jingle Bells Aluminium, New Delhi vs. ITO Ward - 13(3), New Delhi

ITA 5397/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

Kasper Information Technology P.Ltd, New Delhi vs. ITO, Ward-14(2), New Delhi

ITA 510/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

Landsky Real Estates P.Ltd, New Delhi vs. ITO, Ward-15(1), New Delhi

ITA 509/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, Ghaziabad

ITA 6401/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Mar 2021AY 2014-15

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, New Delhi

ITA 5974/DEL/2017[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

M/S Globus Real Infra Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2920/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ACIT, New Delhi vs. M/S. Star Light Consumer Electronics Pvt. Ltd., New Delhi

ITA 6070/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ACIT, New Delhi vs. M/S. Superstar Agency Pvt. Ltd., New Delhi

ITA 5832/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ACIT, New Delhi vs. M/S. Sur Buildcon Pvt. Ltd., New Delhi

ITA 5831/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO, New Delhi vs. M/S Stylish Construction Pvt. Ltd., New Delhi

ITA 5744/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…

ITO, New Delhi vs. M/S. Sukhna Real Estate Pvt. Ltd., Ghaziabad

ITA 5742/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…vs. Kamdhenu • A GovindarajuluMudaliar Steel and Alloys Ltd. V CIT [1958] 34 ITR 807 206 Taxman 254 (SC) • CIT vs. Nova • CIT V Korlay Trading Co. Promoters and Ltd. [1998] 230 ITR 820 Finlease (P) Ltd. (Cal.) • (Delhi HC) CIT V Precision Finance Ltd. (1994) 208 ITR 465 (cal.)  The assessee company has  In a detailed discussion in 7. Kaspers 2013-14 Section 68 Information Share not discharged its onus to assessment order AO has Technology capital/ prove genuineness and correctly held that amount Pvt Ltd share creditworthiness of of Rs. 16 crores in premium transactions.(Para 4.5.1, undisclosed income of the As…