How many judgments cite CIT v. Sophia Finance Ltd.?

295 judgments on BharatTax cite CIT v. Sophia Finance Ltd. (205 ITR 98), spanning 2008 to 2026.

CIT v. Sophia Finance Ltd.

Q: Which sections of the Income Tax Act does CIT v. Sophia Finance Ltd. come up under?

It is most often cited in judgments turning on Section 1961, Section 68, Section 142(1), Section 148, Section 68 of the Income Tax Act, Section 133(6).

205 ITR 98High Court1994#265 most cited

What is CIT v. Sophia Finance Ltd. authority for?

To discharge the burden of proof under Section 68 for share capital or share application money, an assessee must establish the identity of the shareholders and the genuineness of the transaction, confirming that the payment was truly made by them.

295

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2008 to 2026.

Also referred to as

CIT v. Sophia Finance Ltd. · Section 68 · cash credit · share capital · share application money · burden of proof · identity of shareholders · genuineness of transaction · 205 ITR 98 · unexplained money

Also reported as

70 Taxmann 69

Sections most often in play

Section 1961 Section 68 Section 142(1)Section 148 Section 68 of the Income Tax Act Section 133(6)Section 143(3)Section 143(2)

Issues it is cited on

paper company source of source section 31 creditworthiness of the creditor share capital and share premium section 251(2)section 251(1)(a)live link share application money entry operator admission of additional evidence addition u/s 68

Judgments citing CIT v. Sophia Finance Ltd.

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

…mann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), 17 ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P.) Ltd. [ITAT No. 125 of 2012] (para 8), xiii. CIT v. Dataware (P.) Ltd. […

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

…round has already been decided. 14. Whereas, on the contrary, the learned CIT(A) has independently dealt with the said ground and by relying upon the judgements in the case of N.R. Portfolio (P) Ltd. (2014) 222 Taxman 157 (Del) and Sophia Finance Ltd. (1994) 205 ITR 98 (Del) had dismissed the said ground by holding that only because the amounts in the present case was received through banking channels that did not discharge the onus which cast upon the assessee as submission of PAN card and payment through banking channel only proves the identity of the person but not the creditworthiness or genuineness of the t…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3337/DEL/2017[2008-09]Status: DisposedITAT Delhi17 Sept 2018AY 2008-09

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR

Section 153ASection 68

…dated 22.11.2013 M. L. Singhi & Associates (P) Ltd. " A. Govindarajulu Mudaliar Vs CIT (1958) 34 ITR 807 (SC) " CIT Vs M. Ganapathi Mudaliar (1964) 53 ITR 623 (SC) " CIT Vs Steller Investment Ltd. (1991) 192 ITR 287 (Del.) " CIT Vs Sophia Finance Ltd. (1994) 205 ITR 98 (FB) (Del.) " CIT Vs Nova Promoters and Finlease (P) Ltd. " Nipun Builders and Developers (2013) 350 ITR 407 (Del.) " M/s Navodaya Castles Pvt. Ltd. order dated 25.08.2014 (Del.) " CIT Vs Durga Prasad More (1971) 82 ITR 540 (SC) " CIT Vs MAF Academy P. Ltd. (2014) 206 DLT 277 (Del.) 16. The ld. CIT(A) observed that the aforesaid quoted case laws h…

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3336/DEL/2017[2007-08]Status: DisposedITAT Delhi17 Sept 2018AY 2007-08

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR

Section 153ASection 68

M/S. M.L. Singhi & Associates (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, we hold that addition of share capital in the year under consideration has been made without relying on any incriminating material found during the course of search

ITA 3335/DEL/2017[2006-07]Status: DisposedITAT Delhi17 Sept 2018AY 2006-07

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 3335/Del/2017 : Asstt. Year : 2006-07

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Smt. Shefali Swaroop, CIT DR

Section 153ASection 68

ITO 12(2)(3), Mumbai vs. Ggf Industries Pvt. Ltd., Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 6006/MUM/2016[2009-10]Status: DisposedITAT Mumbai03 Aug 2018AY 2009-10

Bench: Shri G. S. Pannu, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6006/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2009-10) Ito 12(2)(3), Room No. बिधम/ M/S. Ggf Industries Pvt. 226, 2Nd Floor, Aayakar Ltd. A-303, Bhattad Tower, Vs. 3Rd Floor, Opp. Kora Kendra Bhavan, M.K. Road, Mumbai-400020. Ground, Borivali West, Mumbai-400092. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcg3856E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Ram Tiwari (Sr. Ar) Assessee By: Shri Ajay R. Singh सुनवाई की तारीख / Date Of Hearing: 17.05.2018 घोषणा की तारीख /Date Of Pronouncement: 03.08.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 29.07.2016 Passed By The Commissioner Of Income Tax (Appeals)-20, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The Ay. 2009-10. 2. The Revenue Has Raised The Following Grounds: -

For Appellant: Shri Ajay R. SinghFor Respondent: Shri Ram Tiwari (Sr. AR)

Section 133(6)Section 143(2)Section 148Section 68

…ecisions on the issue including the decision of the Hon'ble Supreme Court in the case of Lovely Exports P Ltd (supra), decision of the Full Bench of the Hon'ble Delhi High Court in the case of Sophia Finance Ltd ITA. No. 6006/M/2016 A.Y. 2009-10 reported in 205 ITR 98 (Del)(FB) and the decision m the case of Divine Leasing & Finance Ltd (supra) has observed as under: "It is clear from the above that the initial burden is upon the assessee to explain the nature and source of the share application money received by the assessee, in order to discharge this burden, the assessee is required to prove: (a) the identit…

Manoir Petro India Ltd, Mumbai vs. Pr CIT 1, Mumbai

ITA 2626/MUM/2015[2010-11]Status: DisposedITAT Mumbai12 Jul 2018AY 2010-11

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 Manoir Petro India Limited, Pr. Cit-1 602, B-Wing, Universal Room No.387, बनाम/ Business Park, Chandivali 3Rd Floor, Vs. Farm Road, Off Saki Vihar Aayakar Bhavan, Road, Andheri (East), M. K. Road, Mumbai-400072 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aafcm5210J

Section 263

…taxmann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), 19 Manoir Petro India Limited ITA No.2626/Mum/2015 & C.O. No.95/Mum/2015 x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P…

ITO 12(2)(2), Mumbai vs. Elegant Creations P . Ltd, Mumbai

In the result, the appeal is allowed for statistical purposes

ITA 5632/MUM/2016[2012-13]Status: DisposedITAT Mumbai28 Jun 2018AY 2012-13

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2012-13 Income Tax Officer M/S Elegant Creations Pvt. Ltd. 12(2)(2), Room No. 146A, 701, Meenaxi Apt. Gokuldham, Vs. 1St Floor, Aayakar Bhavan, Goregaon (E), Mumbai-400063, M.K. Road, Mumbai-400020. Pan No. Aaace5295L Appellant Respondent Revenue By : Ms. S. Padmaja, Dr Assessee By : Mr. Vipul J. Shah, Ar Date Of Hearing : 17/04/2018 Date Of Pronouncement: 28/06/2018

For Appellant: Mr. Vipul J. Shah, ARFor Respondent: Ms. S. Padmaja, DR

Section 133(6)Section 143(3)Section 68

…ion which could compel oneself to assume that the transactions were not genuine.” Drawing the above conclusion by relying on decision in CIT v. Lovely Exports (P) Ltd. 216 CTR 295 (SC), Oasis Hospitalities P. Ltd. (2011) 333 ITR 119 (Del), Sophia Finance Ltd. 205 ITR 98 (Del) (FB), CIT v. Creative World Telefilms Ltd. (2011) 333 ITR 100, CIT v. Mohanakala (2007) 291 ITR 278 (SC), CIT v. Stellar Investment Ltd. (1991) 192 ITR 287 (Del), CIT v. Gangeshwari Metal Pvt. Ltd. 361 ITR 10 (Del), the Ld. M/s Elegant Creations Pvt. Ltd. 5 CIT(A) deleted the addition of Rs.3,85,00,000/- made by the AO u/s 68 of the Act. 5.…

ACIT 30(3), Mumbai vs. Shreedham Builders, Mumbai

ITA 5589/MUM/2017[2012-13]Status: DisposedITAT Mumbai22 Jun 2018AY 2012-13

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2012-13 Acit-30(3), Shreedham Builders, R. No.510, 5Th Floor, 105/106, 1St Floor, बनाम/ Pratayakshkar Bhavan, Vijay Indl. Estate, Vs. Bandra Kurla Complex, Malad (W), Bandra (East), Mumbai-400064 Mumbai-400051 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Abdfs0133N

Section 143(1)Section 143(2)Section 68

…nder:- "5. While setting aside the order of the Commissioner of Income-tax (Appeals), the Tribunal relied upon two decisions of this court, namely CIT v. Stellar Investment Ltd. [1991J 192 ITR 287 and a Full Bench decision in CIT v. Sophia Finance Ltd [1994] 205 ITR 98. Several other decisions have been rendered by this Court following the above two decisions. The principle that has been laid down by the various decisions rendered by this Court from time to ti/ne is that if the existence of the applicant is proved, normally no further inquiry is necessary. 6. Learned counsel for the Revenue submits that the cre…

ITO, Jaipur vs. Land Mark Dilsay P Ltd, Jaipur

Appeals are dismissed in limine but without any order as to costs

ITA 178/JPR/2015[2006-07]Status: DisposedITAT Jaipur08 Jun 2018AY 2006-07

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Seema Meena (JCIT) fu/kZkfjrh dh vksj ls@

Section 143(1)Section 148

…heir ITA 178/JP/2015 & C.O. 18/JP/2015_ 7 ITO Vs M/s Land Mark Dealers (P) Ltd. individual assessment. Similar decision is also taken in the case of CIT v. Steller Investment Ltd. (1991) 192 ITR 287 (Del.), (2000) 251 ITR 287 (SC), CIT v. Sophia Finance Ltd. 205 ITR 98 (Del.)(FB), CIT v. Divine Leasing & Finance Ltd. (SLP no. CC 375/2008 arising out of ITA no. 53/2005 of the High Court of Delhi), CIT (Kolkata) v. M/s Shipra Retailers (P) Ltd. SLP no. CC 451/2008 arising out of ITA no. 576/2004 of the High Court of Calcutta), CIT v. Pondy Metal & Rolling Mills (P) Ltd. (SLP no. CC 12860/2007 arising out of ITA no…

ITO, Jaipur vs. Land Mark Dilsay P Ltd, Jaipur

Appeals are dismissed in limine but without any order as to costs

ITA 177/JPR/2015[2005-06]Status: DisposedITAT Jaipur08 Jun 2018AY 2005-06

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Seema Meena (JCIT) fu/kZkfjrh dh vksj ls@

Section 143(1)Section 148

…venue can always proceed against such shareholders and if necessary reopen their individual assessment. Similar decision is also taken in the case of CIT v. Steller Investment Ltd. (1991) 192 ITR 287 (Del.), (2000) 251 ITR 287 (SC), CIT v. Sophia Finance Ltd. 205 ITR 98 (Del.)(FB), CIT v. Divine Leasing & Finance Ltd. (SLP no. CC 375/2008 arising out of ITA no. 53/2005 of the High Court of Delhi), CIT (Kolkata) v. M/s Shipra Retailers (P) Ltd. SLP no. CC 451/2008 arising out of ITA no. 576/2004 of the High Court Of Calcutta), CIT v. Pondy Metal & Rolling Mills (P) Ltd. (SLP no. CC 12860/2007 arising out of ITA no…

Pratik Syntex P.Ltd, Mumbai vs. ITO 13(1)(4), Mumbai

In the result , appeal of the assessee is dismissed

ITA 6690/MUM/2016[2012-13]Status: DisposedITAT Mumbai11 May 2018AY 2012-13

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6690/Mum/2016 (नििाारण वर्ा / Assessment Year : 2012-13) बिाम/ M/S. Pratik Syntex Private Ito 13(1)(4), Mumbai Ltd.,A-51, Rustomji Adarsh Heritage, Adarsh Vihar V. Complex, Opp. Marve Road, Malad (W), Mumbai 400064 स्थायी ऱेखा सं./ Pan : Aaecp3487H (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Haresh P. ShahFor Respondent: Shri Rajat Mittal (DR)

Section 143(3)

…ate order dated 08-09-2016. While confirming/sustaining additions, the learned CIT(A) relied upon following decisions: a) N. Tarika Property Invest (P.) Ltd. v. CIT [2014] 51 taxmann.com 387 (SC), I.T.A. No.6690/Mum/2016 b)CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/[1993] 70 Taxman 69 (Delhi), c) CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi), d) CIT v. Lovely Exports Ltd. [2008] 299 ITR 268, e)CIT v. Nova Promoters & Finlease P. Ltd. [2012] 342 ITR 169/206 Taxman 207/18 taxmann.com 217(Delhi), f) CIT v. Nipun Builders & Developers [2013] 350 ITR 407/214 Taxman 429/30 taxmann.com 292…

Saigal Sea Trade, Mumbai vs. CIT -18, Mumbai

The appeal of the assessee is dismissed

ITA 2511/MUM/2014[2009-10]Status: DisposedITAT Mumbai07 May 2018AY 2009-10

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2009-10 M/S Saigal Sea Trade, Cit-18, J.V. House, 02Nd Floor, D.S. Piramal Chambers, बनाम/ Babrekar Marg, Dadar (West), Mumbai Vs. Mumbai-400028 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aaafs6920K

Section 142(1)Section 263

…taxmann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P.) Ltd. [ITAT No. 125 of 2012] (para 8), xiii. CIT v. Dataware (P.) Ltd. […

Gautam Tube Corporation, Mumbai vs. Pr CIT 19, Mumbai

The appeals are disposed of in the above terms

ITA 3609/MUM/2017[2009-10]Status: DisposedITAT Mumbai26 Apr 2018AY 2009-10

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 120Section 143(3)Section 144ASection 263

…taxmann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P.) Ltd. [ITAT No. 125 of 2012] (para 8), xiii. CIT v. Dataware (P.) Ltd. […

Gautam Tube Corporation, Mumbai vs. Pr CIT 19, Mumbai

The appeals are disposed of in the above terms

ITA 3608/MUM/2017[2008-09]Status: DisposedITAT Mumbai25 Apr 2018AY 2008-09

Bench: Shri Joginder Singh & Shri G. Manjunatha

Section 120Section 143(3)Section 144ASection 263

…taxmann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P.) Ltd. [ITAT No. 125 of 2012] (para 8), xiii. CIT v. Dataware (P.) Ltd. […

Mumbai District Central Co Op Bank Ltd, Mumbai vs. CIT 1(1), Mumbai

The appeals are disposed of in the above terms

ITA 3198/MUM/2015[2010-11]Status: DisposedITAT Mumbai22 Mar 2018AY 2010-11

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2010-11 The Mumbai District Cit-1, Aayakar Bhavan बनाम/ Central Co-Op. Bank Ltd. M.K. Road, Mumbai Bank Bhavan Mumbai 400 020 Vs. 207, D.H. Road, Fort Mumbai 400 001 (यनधाारयती /Assessee) (याजस्व /Revenue) P.A. No. Aaaam3185D यनधाारयती की ओर से / Assessee By Shri Amar Gahlot याजस्व की ओर से / Revenue By Shri B. Srinivas, Cit-Dr ुनवाई की तायीख / Date Of Hearing : 22/03/2018 आदेश की तायीख /Date Of Order: 22/03/2018

Section 143(1)Section 143(2)Section 143(3)Section 263

…taxmann.com 587 (Delhi) (para 7), vii. DIT v. Jyoti Foundation [2013] 35 ITR 388/219 Taxman 105/38 taxmann.com 180 (Delhi) (para 7), viii. CIT v. Steller Investment Ltd. [1991] 192 ITR 287/59 Taxman 568 (Delhi) (para 8), ix. CIT v. Sophia Finance Ltd. [1994] 205 ITR 98/70 Taxman 69 (Delhi) (FB) (para 8), 17 The Mumbai District Central Co-op. Bank Ltd. x. CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268/[2007] 158 Taxman 440 (Delhi)(para 8), xi. Lotus Capital Financial Services Ltd. v. ITO [IT Appeal No. 479 (Kol.) of 2011] (para 8), xii. CIT v. Lotus Capital Financial Services (P.) Ltd. [ITAT No. 125 of…

Puja Synthetics Pvt. Ltd., Jaipur vs. PCIT, Jaipur

ITA 440/JPR/2017[2009-10]Status: DisposedITAT Jaipur09 Mar 2018AY 2009-10

For Appellant: Shri Prakul Khurana (Adv.)For Respondent: Smt. Roli Agarwal (CIT)

Section 115JSection 132Section 132(4)Section 143(3)Section 153ASection 153BSection 263

…urt. In this case, the Hon’ble Delhi High Court has referred to catena of earlier decisions such as case of CIT v. Nova Promoters & Finlease (P.) Ltd. [2012] 342 ITR 169, CIT v. N.R. Portfolio (P.) Ltd. [2014] 222 Taxman 157, CIT v. Sophia Finance Ltd. [1994] 205 ITR 98(Delhi) (FB), CIT v. Divine Leasing & Finance Ltd. [2008] 299 ITR 268, CIT v. Durga Prasad More [1971] 82 ITR 540 (SC) and CIT v. Nipun Builders & Developers [2013] 350 ITR 407 and has held as under: “12. The main submission of the learned counsel for the assessee is that once the assessee had been able to show that the shareholder companies were d…

DCIT, New Delhi vs. M/S. M.N. Securities Pvt. Ltd., New Delhi

In the result, the appeals of the department are dismissed

ITA 3833/DEL/2014[2006-07]Status: DisposedITAT Delhi27 Feb 2018AY 2006-07

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 3832/Del/2014 : Asstt. Year : 2005-06 Ita No. 3833/Del/2014 : Asstt. Year : 2006-07 Asstt. Commissioner Of Income Vs M/S M. N. Securities Pvt. Ltd., 8Th Floor, Statesman House, Tax, Central Circle-19, New Delhi Barakhamba Road, New Delhi-110001 (Appellant) (Respondent) Pan No. Aadcm0102D Assessee By : Sh. Shashi Tulsiyan, Adv. Revenue By : Smt. Shefali Swroop, Cit Dr Date Of Hearing : 06.02.2018 Date Of Pronouncement : 27.02.2018 Order Per N. K. Saini, Am: These Two Appeals By The Department Are Directed Against The Separate Orders Each Dated 25.04.2014 Of Ld. Cit(A)-Xii, New Delhi.

For Appellant: Sh. Shashi Tulsiyan, AdvFor Respondent: Smt. Shefali Swroop, CIT DR

Section 132Section 142(1)Section 143(3)Section 153CSection 68

…189 (Del.) " Sinhgad Technical Education Society Vs ACIT 140 TTJ 233 (Pune) " All Cargo Global Logistics Ltd. Vs DCIT 137 ITD 287 (Mum) " CIT Vs Chetan Das Lachman Das 254 CTR 392 (Del) " CIT Vs Anil Bhatia 211 Taxmann 453 (Del.) " CIT Vs Sophia Finance Ltd. 205 ITR 98 (Del.) " Divine Leasing and Finance Ltd. & Ors 299 ITR 268 (Del.) " CIT Vs Lovely Export (P) Ltd. 319 ITR (ST) 5 (SC) " CIT Vs Value Capital Services (P) Ltd. 307 ITR 334 (Del.) " Orissa Corporation (P) Ltd. 159 ITR 78 (SC) " CIT Vs Dwarkadhish Investment ltd. 194 Taxman 43 (Del.) " ACIT Vs Hanuman Agarwal 151 ITR 150 (Patna) " CIT Vs Rohini Build…

DCIT, New Delhi vs. M/S. M.N. Securities Pvt. Ltd., New Delhi

In the result, the appeals of the department are dismissed

ITA 3832/DEL/2014[2005-06]Status: DisposedITAT Delhi27 Feb 2018AY 2005-06

For Appellant: Sh. Shashi Tulsiyan, AdvFor Respondent: Smt. Shefali Swroop, CIT DR

Section 132Section 142(1)Section 143(3)Section 153CSection 68

Jasamrit Constructions P.Ltd, Mumbai vs. ITO 6(3)(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1091/MUM/2016[2012-13]Status: DisposedITAT Mumbai08 Feb 2018AY 2012-13

Bench: Shri Joginer Singh & Shri Rajesh Kumarm/S. Jasamrit Constructions Income Tax Officer-6(3)(2) Private Ltd. Room No. 503, 5Th Floor Flat No. 901, Building 'B' Vs. Aayakar Bhavan, M.K. Road Ashok Tower, Near Itc Hotel Mumbai 400020 Parel, Mumbai 400017 Pan – Aabcj8295L Appellant Respondent

For Appellant: Shri Vijay MehtaFor Respondent: Shri Aarju Goradia

Section 133(6)Section 143(3)Section 68

…ance Ltd. & Anr. 299 ITR 263 (Del) xix. Sumati Dayal vs. CIT 214 ITR 801 (SC) xx. Smt. Vasantibai N. Shaha vs. CIT 213 ITR 803 (Bom) a. Govindarajulu Mudaliar vs. CIT 34 ITR 807 (SC) xxi. VIP (P) Ltd. vs. CIT 265 ITR 202 (MP) xxii. CIT vs. Sophia Finance Ltd. 205 ITR 98 (Del) xxiii. CIT vs. Active Traders (P) Ltd. 214 ITR 583 (Cal) xxiv. CIT vs. Nivedan Vanijya Niyojan Ltd. 263 ITR 623 (Cal) xxv. CIT vs. Bhagwati Jewels Ltd. 201 ITR 461 (Del) xxvi. CIT vs. Prateek Finance and Investment Co. Ltd. 215 ITR 272 (Del) xxvii. Shankar Industries vs. CIT 114 ITR 689 (Cal) xxviii. Nanak Chandra Laxman Das vs. CIT 140 ITR…