CIT v. Reliance 29 M/s. Vibrant Global Capital Ltd. ITA

313 ITR 240High Court2009#20553 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Judgments citing CIT v. Reliance 29 M/s. Vibrant Global Capital Ltd. ITA

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCEL-1(2, NAGPUR vs. M/S. VIBRANT GLOBAL CAPITAL LTD., MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 229/NAG/2022[2014-15]Status: DisposedITAT Nagpur25 Oct 2024AY 2014-15

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

For Appellant: Shri Kishore P. DewaniFor Respondent: Shri Sandipkumar Salunke

Section 143(3)Section 14ASection 68

…at Para–4.3 of the appellate order at Page–69 & 70. The learned CIT(A) has relied upon the decision of the Hon’ble Jurisdictional High Court rendered in CIT v/s Reliance 29 M/s. Vibrant Global Capital Ltd. ITA no.229/Nag./2022 Utilities & Power Ltd., [2009] 313 ITR 240 (Bom.) to hold that addition made by the Assessing Officer in assessee’s case is unjustified. The addition made by the Assessing Officer was was accordingly deleted. 24. The learned D.R. has relied upon the order passed by the Assessing Officer and submitted that the deletion of addition made by the learned CIT(A) is unjustified and, therefore,…

M/S STATIONERY POINT INDIA LTD,MUMBAI vs. DY. COM. OF INCOME TAX-9(3), MUMBAI

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

ITA 3101/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Oct 2018AY 2011-12

Bench: Shri R.C. Sharma & Shri Sandeep Gosainm/S. Stationery Point India Ltd. Deputy Commissioner Of E.S. Crystal Lawn, 1St Floor Income Tax - 9(3) Vs. Near Mega Mart Showroom Mumbai Kandivali (E), Mumbai 400101 Pan – Aafcs3137G Appellant Respondent Appellant By: Shri Haresh P. Shah Respondent By: Shri V. Justin Date Of Hearing: 27.07.2018 Date Of Pronouncement: 03.10.2018 O R D E R Per Sandeep Gosain, Jm This Appeal Filed By Assessee Is Directed Against The Order Passed By The Cit(A)-21, Mumbai, Dated 27.02.2016 & It Relates To A.Y. 2011-12. 2. The Brief Facts Of The Case Are That The Assessee Company Is Engaged In The Business Of Manufacturing Of Flexible Packaging For Consumer Products, Wire Products Like Staple Pins, U-Clips, Etc. The Return Of Income Was Filed By The Assessee On 30Th September, 2011 Showing Total Income At `4,55,12,480/-. The Assessment Order Under Section 143(3) Of The Act Dated 30Th March, 2014 Was Passed Thereby Assessing The Income Of The Assessee At `6,06,85,950/- Thereby Making Additions/Disallowances Under Different Heads. Aggrieved By The Order Of The Ao, The Assessee Preferred Appeal Before The Cit(A) & The Cit(A), After Considering The Case Of Both The Parties Partly Allowed The Appeal. Aggrieved By The Order Of The Cit(A) Assessee Preferred The Present Appeal Before Us On The Grounds Mentioned Below: -

For Appellant: Shri Haresh P. ShahFor Respondent: Shri V. Justin

Section 143(3)Section 14ASection 6n

…r attention to the balance sheet wherein assessee was having share capital and reserve as well as interest free funds more than the amount advanced free of interest. Ld. AR relied on the decision of Hon’ble Bombay High Court in the case of Reliance Utilities, 313 ITR 240, wherein it was held that if the assessee had sufficient interest free funds, then presumption can be made that investment in shares/securities were made out of such interest free funds. We found that the CIT(A) has just declined assessee’s claim by stating that this ground was not pressed. In the interest of justice, we restore this ground back…

STATIONERY POINT INDIA LTD,MUMBAI vs. DCIT 9(3), MUMBAI

In the result, appeal of the Assessee is allowed in part

ITA 7625/MUM/2013[2010-11]Status: DisposedITAT Mumbai12 Sept 2018AY 2010-11

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm M/S. Stationery Point India Ltd., Vs. Dcit – 9(3) E.S.Crystal Lawn Mumbai 1St Floor Near Mega Mart Show Room Kandivli (E) Mumbai – 400 101 Pan/Gir No.Aafcs3137G Appellant) Respondent) ..

Section 143(3)Section 14ASection 194ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI PAWAN SINGH, JM M/s. Stationery Point India Ltd., Vs. DCIT – 9(3) E.S.Crystal Lawn Mumbai 1st Floor Near Mega Mart Show Room Kandivli (E) Mumbai – 400 101 PAN/GIR No.AAFCS3137G Appellant) Respondent) .. Assessee by Shri H P Shah Revenue by Shri Rajat Mittal Date of Hearing 15/06/2018 Date of Pronouncement 12/09/2018 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the assessee against the order of CIT(A)- 20, Mumbai dated 17/10/2013 for A.Y.2010-11 in the matter of order passed u/s.143(3) of the IT Act…

HERO MOTOCORP LIMITED,NEW DELHI vs. JCIT, NEW DELHI

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR

Section 143Section 143(3)Section 144CSection 92C

…09/Del/2016 and 914/Del/2016 (AY 2011-12) Page 217 of 484 xiii. Motor General Finance Limited: 267 ITR 381 (SC) followed by Delhi HC in 272 ITR 550. xiv. Kumaragiri Textiles Ltd V. DCIT: 100 ITD 57 (Chennai) (TM) xv. CIT v. Reliance Utilities and Power Ltd.: 313 ITR 240 (Bombay HC) He further relied upon following decisions, wherein with respect to assessment years 2008-09 and onwards, it has been held that Rule 8D is not mandatory, if satisfaction is not recorded and further, if appellant is able to establish that investments was made out of surplus interest free funds, no disallowance of the interest expendit…