CIT v. Samir Bio- Tech Pvt Ltd.

325 ITR 294High Court2010#1375 most cited

What is CIT v. Samir Bio- Tech Pvt Ltd. authority for?

An adverse inference under Section 68 cannot be drawn against an assessee regarding share application money if the identity and creditworthiness of the subscribers are established, transactions are through banking channels, and details like tax returns are provided. This holds true even if the subscribers initially fail to respond to summons.

83

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. Samir Bio-Tech Pvt Ltd · Samir Bio-Tech Pvt Ltd · Section 68 · share application money · bogus share capital · creditworthiness of subscriber · identity of subscriber · genuineness of transaction · onus of proof · adverse inference · non-appearance of subscriber · unexplained cash credit

Issues it is cited on

bogus share capitalretracted statementcreditworthiness of the creditorsource of sourcesection 254(2)addition u/s 68section 132(1)addition under section 68dumb documentsshare application moneyaccommodation entrysearch assessment

Judgments citing CIT v. Samir Bio- Tech Pvt Ltd.

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 76/GTY/2017[2012-13]Status: DisposedITAT Guwahati06 Sept 2019AY 2012-13

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 147Section 68Section 80l

…T. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Ceme…

Deputy Commissioner of Income Tax, Circle - 3, Guwahati vs. M/S. Sms Smelters Limited, Naharlagun

Appeals are allowed in view of our foregoing detailed discussions

ITA 69/GTY/2017[2007-08]Status: DisposedITAT Guwahati06 Sept 2019AY 2007-08

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 147Section 68Section 80l

…T. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Ceme…

Jud Cement Limited, Shillong vs. Assistant Commissioner of Income, Circle - Shillong, Shillong

Appeals are allowed in view of our foregoing detailed discussions

ITA 40/GTY/2017[2008-09]Status: DisposedITAT Guwahati06 Sept 2019AY 2008-09

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 147Section 68Section 80l

…T. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Ceme…

Jud Cement Limited, Shillong vs. Assistant Commissioner of Income, Circle - Shillong, Shillong

Appeals are allowed in view of our foregoing detailed discussions

ITA 39/GTY/2017[2006-07]Status: DisposedITAT Guwahati06 Sept 2019AY 2006-07

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 147Section 68Section 80l

…T. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Stel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) ITA Nos. 93-96/Gau/2017 & 91,69,76-77/Gau/17 39-40/Gau/2017 M/s SMS Smelters Ltd. Vs. DCIT, Cir-3, Gau &JUD Ceme…

DCIT, Central Cir-8(4), Mumbai vs. M/S. Amazon Metals Private Limited, Mumbai

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

ITA 905/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

Section 131Section 147Section 148

…angeshwari Metal Pvt Ltd (2014) 361 ITR 10 (Del-High Court) n) ACIT vs. Venkateshwar Ispat Pvt Ltd (2010) 319 ITR 393 (Chhatisgarh-High Court) o) CIT vs. Nav Bharat Duplex Ltd (2013) 35 Taxmann.com 289 (All-High Court) p) CIT vs. Samir Bio-Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) q) Mod Creations Pvt Ltd vs. ITO (2011) 354 ITR 282 (Del- High Court) r) CIT vs. Jay Dee Securities & Finance Ltd 32 Taxmann.com 91 (All-High Court) s) Jaya Securities Ltd vs. CIT (2008) 166 Taxman 7 (All- High Court) (SLP filed by dept dismissed) 13. We have heard both the parties, perused the material available on record and…

Dcie Central Circle-8(4), Mumbai vs. M/S.Pali Fabrics Private Limited, Mumbai

In the result appeal filed by the revenue is dismissed

ITA 904/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Pali Fabrics Pvt.Ltd. Room No. 658, 6Th Floor 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road 37-40 Subash Road Mumbai-400 020 Vile Parle(E) Mumbai-400 057 Pan/Gir No.Aafcp0089G (Appellant) .. Respondent) & C.O. No. 77/Mum/2019 (Arising Out Of Ita No.904/Mum/2018) (Assessment Year: 2009-10) M/S Pali Fabrics Pvt.Ltd. Vs. Dcit, Cc-8(4) 5Th Floor, Sunteck Centre, Room No. 658, 6Th Floor 37-40 Subash Road Aaykar Bhawan, M.K.Road Vile Parle(E) Mumbai-400 020 Mumbai-400 057 Pan/Gir No.Aafcp0089G (Appellant) .. Respondent)

Section 131Section 139Section 143(2)Section 147Section 148

…angeshwari Metal Pvt Ltd (2014) 361 ITR 10 (Del-High Court) n) ACIT vs. Venkateshwar Ispat Pvt Ltd (2010) 319 ITR 393 (Chhatisgarh-High Court) o) CIT vs. Nav Bharat Duplex Ltd (2013) 35 Taxmann.com 289 (All-High Court) p) CIT vs. Samir Bio-Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 23 ITA.No.904 /Mum/2018 C.O.No. 77/Mum/2019 M/s. Pali Fabrics Pvt.Ltd. & q) Mod Creations Pvt Ltd vs. ITO (2011) 354 ITR 282 (Del- High Court) r) CIT vs. Jay Dee Securities & Finance Ltd 32 Taxmann.com 91 (All-High Court) s) Jaya Securities Ltd vs. CIT (2008) 166 Taxman 7 (All- High Court) (SLP filed by dept dismissed) 13. W…

DCIT Central Cir-8(4), Mumbai vs. M/S.Acro Exports Trade Private Limited, Mumbai

In the result, appeal filed by the revenue is dismissed and cross objection filed by the assessee is also dismissed

ITA 903/MUM/2018[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ram Lal Negidcit, Cc-8(4) Vs. M/S Acro Exports Trade Room No. 658, 6Th Floor Pvt.Ltd. 5Th Floor, Sunteck Centre, Aaykar Bhawan, M.K.Road Mumbai-400 020 37-40 Subash Road Vile Parle(E) Mumbai-400 057

Section 131Section 147Section 148

…angeshwari Metal Pvt Ltd (2014) 361 ITR 10 (Del-High Court) n) ACIT vs. Venkateshwar Ispat Pvt Ltd (2010) 319 ITR 393 (Chhatisgarh-High Court) o) CIT vs. Nav Bharat Duplex Ltd (2013) 35 Taxmann.com 289 (All-High Court) p) CIT vs. Samir Bio-Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) q) Mod Creations Pvt Ltd vs. ITO (2011) 354 ITR 282 (Del- High Court) r) CIT vs. Jay Dee Securities & Finance Ltd 32 Taxmann.com 91 (All-High Court) s) Jaya Securities Ltd vs. CIT (2008) 166 Taxman 7 (All- High Court) (SLP filed by dept dismissed) 13. We have heard both the parties, perused the material available on record and…

Deputy Commissioner of Income Tax, Circle- 3, Guwahati vs. M/S. Satyam Ispat (North East) Limited, Banderdewa

Appeals are dismissed

ITA 84/GTY/2017[2007-08]Status: DisposedITAT Guwahati02 Aug 2019AY 2007-08

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 153A

…. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) In view of the above also, the addition made in respect of share capital and share premium cannot be sustained. T…

Deputy Commissioner of Income Tax, Circle- 3, Guwahati vs. M/S. Satyam Ispat (North East) Limited, Banderdewa

Appeals are dismissed

ITA 83/GTY/2017[2006-07]Status: DisposedITAT Guwahati02 Aug 2019AY 2006-07

Bench: Shri S.S.Godara & Dr. A.L. Saini

Section 143(3)Section 153A

…. V/s. Soft-line Creations Pvt. Ltd. (2016) 387 ITR 636 (Delhi) (ii) C.I.T. V/s. Kamdhenu Steel & Alloys Ltd. (2014) 361 ITR 220 (Delhi) (iii) C.I.T. V/s. Lovely Exports Pvt. Ltd. (2009) 319 ITR (St.) 5 (S.C.) (iv) C.I.T. V/s. Sameer Bio-Tech Pvt. Ltd. (2010) 325 ITR 294 (Delhi) (v) C.I.T. V/s. Five Vision Promoters Pvt. Ltd. (2016) 380 ITR 289 (Delhi) (vi) C.I.T. V/s. Dwarkadhish Investment Pvt. Ltd. (2011) 330 ITR 298 (Delhi) (vii) C.I.T. V/s. Divine Leasing & Finance Ltd. (2008) 299 ITR 268 (Delhi) In view of the above also, the addition made in respect of share capital and share premium cannot be sustained. T…

M/S Moira Steel Ltd., Indore vs. The DCIT 1(1), Indore

In the result appeal of the assessee is dismissed

ITA 893/IND/2016[2007-08]Status: DisposedITAT Indore14 May 2019AY 2007-08

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2007-08 M/S. Moira Steel Ltd, Dcit-1(1), 103, Laxmi Tower, Vs. Indore 576, M.G. Road, Indore (Appellant) (Respondent ) Pan Aabcm2051K Revenue By Shri K.G. Goel, Sr.Dr Assessee By Shri V.P. Rawka, Ca Date Of Hearing 10.04.2019 Date Of Pronouncement 14.05.2019 O R D E R

Section 143(2)Section 143(3)Section 14ASection 68

…Moira Steel Ltd आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON'BLE KUL BHARAT, JUDICIAL MEMBER AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER Assessment Year 2007-08 M/s. Moira Steel Ltd, DCIT-1(1), 103, Laxmi Tower, Vs. Indore 576, M.G. Road, Indore (Appellant) (Respondent ) PAN AABCM2051K Revenue by Shri K.G. Goel, Sr.DR Assessee by Shri V.P. Rawka, CA Date of Hearing 10.04.2019 Date of Pronouncement 14.05.2019 O R D E R PER MANISH BORAD, AM. The above captioned appeal is filed at the instance of assessee pertaining to Assessment Year 2007-08 and…

P.S.Construction, Mumbai vs. DCIT- CC - 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 3229/MUM/2018[2014-15]Status: DisposedITAT Mumbai03 May 2019AY 2014-15

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

P.S.Construction, Mumbai vs. DCIT-CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 3228/MUM/2018[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

P.S.Construction, Mumbai vs. DCIT- CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 3227/MUM/2018[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

P.S.Construction, Mumbai vs. DCIT -CC -1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 3226/MUM/2018[2009-10]Status: DisposedITAT Mumbai03 May 2019AY 2009-10

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Poonam Skyline Construction, Mumbai vs. DCIT -CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 2694/MUM/2018[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Poonam Skyline Construction, Mumbai vs. DCIT- CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 2693/MUM/2018[2008-09]Status: DisposedITAT Mumbai03 May 2019AY 2008-09

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Pabal Housing Pvt. Ltd., Mumbai vs. DCIT- CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 2689/MUM/2018[2014-15]Status: DisposedITAT Mumbai03 May 2019AY 2014-15

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Pabal Housing Pvt. Ltd., Mumbai vs. DCIT- CC- 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 2688/MUM/2018[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Pabal Housing Pvt. Ltd., Mumbai vs. DCIT- CC - 1(3), Mumbai

In the result, both appeals filed by the assessee are

ITA 2687/MUM/2018[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri G. Manjunatha & Shri Ravish Sood

…56 ITR 65 (MP-High Court) 25 M/s Pabal Housing Pvt. Ltd & Ors. xiii. CIT vs. Shree Rama Multi Tech Ltd (2013) 34 Taxmann.com177 (Guj-HC) xiv. CIT vs. Nikunj Eximp Enterprises (P.) Ltd (2013) 35 Taxrnann.com384 (Bom) xv. CIT vs. Samir Bio- Tech Pvt Ltd (2010) 325 ITR 294 (Del- High Court) 10. The Ld. DR on the other hand strongly supported the order of the Ld. CIT(A) and submitted that the AO as well as the Ld. CIT(A) brought out clear facts to the effect that the assessee is one of the beneficiaries of accommodation entries provided by Bhanwarlal Jain group companies. The assessee neither controverted findings…

Gumpro Drilling Fluids Private Limited, Mumbai vs. Principal Commissioner of Income Tax - 15, Mumbai

The appeal of the assessee is dismissed

ITA 2868/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Oct 2018AY 2013-14

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2013-14 Gumpro Drilling Fluids Vs Pr. Cit-15, Private Limited, Room No.517, 5Th Floor, Opp. Karma Stambha, Aayakar Bhavan, Hazarat Compound, Lbs M. K. Road, Marg, Vikhroli (West), Mumbai-400020 Mumbai-400083 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aadcg2319N "नधा"रती क" ओर से / Assessee By Shri Ashok J. Patil राज"व क" ओर से / Revenue By Shri L.K.S. Dahiya Cit-Dr

Section 120Section 144ASection 263Section 35

…aware (P.) Ltd. [ITAT No. 263 of 2011] (para 8), xiv. CIT v. Roseberry Mercantile (P.) Ltd. [G.A. No. 3296 of 2010, dated 10-1-2011] (para 8), xv. CIT v. Sanchati Projects (P.) Ltd. [ITAT No. 140 of 2011] (para 8), xvi. CIT v. Samir Bio-Tech. (P.) Ltd. [2010] 325 ITR 294 (Delhi) (para 8), xvii. CIT v. Kamdhenu Steel & Alloys Ltd. [2014] 361 ITR 220/[2012] 206 Taxman 254/19 taxmann.com 26 (Delhi) (para 8), xviii. CIT v. Dwarkadhish Capital (P.) Ltd. [2011] 330 ITR 298/[2010] 194 Taxman 43 (Delhi) (paras 9, 10), xix. CIT v. Kinetic Capital Finance Ltd. [2013] 354 ITR 296/[2011] 202 Taxman 548/14 taxmann.com 150 (De…