CIT v. Sinhgad Technical Education Society

Suman Agarwal, New Delhi vs. ACIT, Central Circle- 19, New Delhi

…Gutgutia 395 ITR 526 (Del) iii) PCIT v. Anand Kumar Jain (HUF) 432 ITR 384 (Del) iv) CIT v. Best Infrastructure Ltd. 397 ITR 82 (Del) v) CIT v. Harjeev Agarwal 290 CTR 263 (Del) vi) Pr CIT vs SMC Power Generation Ltd. ITA 406/2019 (Del) dated 23.07.2019 vii) 378 ITR 84 (Bom) CIT vs. Sinhgad Technical Education Society upheld by Apex Court in the case of CIT v. Sinhgad Technical Education Society reported in 397 ITR 344 Gopal Agarwal & Ors. Vs. ITO 4.0 The Ld. CIT-DR, on the other hand, relied upon the orders of the lower authorities. 5.0 We have considered the rival arguments made by both the sides, perused t…

Mamta Agarwal, New Delhi vs. ACIT, Central Circle-19, New Delhi

…Gutgutia 395 ITR 526 (Del) iii) PCIT v. Anand Kumar Jain (HUF) 432 ITR 384 (Del) iv) CIT v. Best Infrastructure Ltd. 397 ITR 82 (Del) v) CIT v. Harjeev Agarwal 290 CTR 263 (Del) vi) Pr CIT vs SMC Power Generation Ltd. ITA 406/2019 (Del) dated 23.07.2019 vii) 378 ITR 84 (Bom) CIT vs. Sinhgad Technical Education Society upheld by Apex Court in the case of CIT v. Sinhgad Technical Education Society reported in 397 ITR 344 Gopal Agarwal & Ors. Vs. ITO 4.0 The Ld. CIT-DR, on the other hand, relied upon the orders of the lower authorities. 5.0 We have considered the rival arguments made by both the sides, perused t…

Kumar Agarwal, New Delhi vs. ACIT, Central Circle- 19, New Delhi

…Gutgutia 395 ITR 526 (Del) iii) PCIT v. Anand Kumar Jain (HUF) 432 ITR 384 (Del) iv) CIT v. Best Infrastructure Ltd. 397 ITR 82 (Del) v) CIT v. Harjeev Agarwal 290 CTR 263 (Del) vi) Pr CIT vs SMC Power Generation Ltd. ITA 406/2019 (Del) dated 23.07.2019 vii) 378 ITR 84 (Bom) CIT vs. Sinhgad Technical Education Society upheld by Apex Court in the case of CIT v. Sinhgad Technical Education Society reported in 397 ITR 344 Gopal Agarwal & Ors. Vs. ITO 4.0 The Ld. CIT-DR, on the other hand, relied upon the orders of the lower authorities. 5.0 We have considered the rival arguments made by both the sides, perused t…

Raj Gopal Agarwal, New Delhi vs. ACIT, Central Circle- 19, New Delhi

…Gutgutia 395 ITR 526 (Del) iii) PCIT v. Anand Kumar Jain (HUF) 432 ITR 384 (Del) iv) CIT v. Best Infrastructure Ltd. 397 ITR 82 (Del) v) CIT v. Harjeev Agarwal 290 CTR 263 (Del) vi) Pr CIT vs SMC Power Generation Ltd. ITA 406/2019 (Del) dated 23.07.2019 vii) 378 ITR 84 (Bom) CIT vs. Sinhgad Technical Education Society upheld by Apex Court in the case of CIT v. Sinhgad Technical Education Society reported in 397 ITR 344 Gopal Agarwal & Ors. Vs. ITO 4.0 The Ld. CIT-DR, on the other hand, relied upon the orders of the lower authorities. 5.0 We have considered the rival arguments made by both the sides, perused t…

Addl. CIT, New Delhi vs. M/S. Ircon International Ltd., New Delhi

In the result, the appeal of the Revenue is accordingly dismissed

Bench: Shri Amit Shukla & Shri O.P. Kant[Through Video Conferencing]

…2/Mum/2017 - Replika Press Private Limited & Anr Vs DCIT (2013) 92 DTR 153 (del) - Madhukar Khosla Vs ACIT(2014) 367 ITR 165 (Del) - PCIT Vs Tupperware India private limited (2016) 284 CTR 68(del) - Turner Broadcasting Systems Asia Pacific Inc. vs DCIT (2016) 380 ITR 412 (del) - Rasalika Trading and Investemnt Co. Pvt Ltd Vs DCIT ( 2014) 365 ITR 447(Del) (ii) that the Assessing Officer has not applied his mind while adopting rate of US dollar for computing interest liability and therefore, reasons need to be rejected on the ground of non-application of mind also. (iii) that no addition has been made on this acco…

ACIT, New Delhi vs. M/S. Rangoli Buildtech (P) Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2007-08 Acit, Vs Rangoli Buildtech (P) Ltd., Central Circle-14, 1105, Akash Deep Building, New Delhi. Barakhamba Road, New Delhi. Pan: Aaccr8695P (Appellant) (Respondent) Assessee By : Shri Rakesh Gupta, Advocate & Shri Somil Agarwal, Ca Revenue By : Ms Sunit Singh, Cit-Dr Date Of Hearing : 14.10.2020 Date Of Pronouncement : 22.10.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 26Th March, 2014 Of The Cit(A)-33 New Delhi, Relating To Assessment Year 2007-08. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Company Engaged In The Business Of Purchasing & Selling & Developing Of Real Estate. A Search & Seizure Operation U/S 132 Of The It Act, 1961 Was Conducted By The Investigation Wing Of The Department On 22.03.2011 In The Amtek Group Of Cases. The Premises Of M/S Excel Infotech Pvt. Ltd. & Others, 9, Tolstoy Marg, Connaught Place, New Delhi Was Also Covered U/S 132(1) Of The Income-Tax Act, 1961 Which Is A Group Company Of Amtek Group. The Documents Belonging To The Assessee, M/S Rangoli Buildtech Pvt Ltd, 1105, Akash Deep Building, Barakhamba Road, New Delhi- 110001 Were Also Found & Seized From The Premises Of M/S Excel Infotech Pvt Ltd & Others, 9, Tolstoy Marg, Connaught Place, New Delhi In Whose Name Search Warrant Of Authorization Was Issued. The Assessee'S Case Was Proposed For Centralization By The Investigation Wing For Coordinated Investigation & Assessment U/S 153C & Subsequently It Was Centralized With Central Circle- 14, New Delhi Vide Order F.No Cit(C) Centr/2012- 13/239 Dated 25.04.2012. Accordingly Notice U/S 153C Of The Income Tax Act Was Issued To The Assessee On 08.11.2012. In Response To The Said Notice, The Assessee Filed Return Of Income On 05.02.2013 Declaring A Loss Of Rs.6,89,710/-.

…Court in the said decision has held that the documents should not only belong to the other person but also should be incriminating in nature. Referring to the decision of the Hon’ble Bombay High Court in the case of CIT vs Sinhgad Technical Education Society, 378 ITR 84, he submitted that the Hon’ble High Court in the said decision has held that the satisfaction must clearly point out that the document does belong to the assessee. He accordingly submitted that in the light of the above decisions the decision of the ld. CIT(A) quashing the assessment order passed under section 153C/143(3) due to invalid assumption…

ACIT, New Delhi vs. M/S Ashutosh Developers Pvt. Ltd., New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S. Ashutosh Developers P. Ltd., New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S. Lkg Builders P. Ltd., New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S. Lkg Builders P. Ltd., New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S. Lkg Builders P. Ltd., New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S Lakshya Consultants Pvt. Ltd., Gurgaon

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S Lakshya Consultants Pvt. Ltd., Gurgaon

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

ACIT, New Delhi vs. M/S Lakshya Consultants Pvt. Ltd., Gurgaon

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

M/S Ashutosh Developers (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

M/S Lkg Builders (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

M/S Lkg Builders (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…

M/S Lkg Builders (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the Assessee allowed and appeal of the Department dismissed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…dditions made are without jurisdiction. The assessee relied upon several decisions of different Benches of the Tribunal and Judgments of the Hon’ble Delhi High Court and Judgment of Hon’ble Bombay High Court in the case of Sinhagad Technical Education Society 378 ITR 84 (Bom.). It was submitted that both the additions are made without reference to any incriminating material. The perusal of the assessment order makes it clear that assessment has been framed without reference to any incriminating documents or assets if found during the course of search. The Ld. CIT(A) referred to several decisions in the appellate…