CIT v. Steller Investment Ltd.

251 ITR 263Supreme Court of India2001#379 most cited

What is CIT v. Steller Investment Ltd. authority for?

An increase in a company's subscribed share capital cannot be treated as the company's undisclosed income under section 68, even if the subscribers to the capital are found not to be genuine. The amount of share capital cannot be regarded as undisclosed income of the company itself.

233

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2010 to 2026.

Also referred to as

CIT v. Steller Investment Ltd. · Section 68 Income Tax Act · bogus share capital · share application money · creditworthiness of subscriber · genuineness of transaction · onus of proof · undisclosed income of company · paper company · conversion of black money

Also reported as

115 Taxmann 99

Sections most often in play

Section 68Section 143(3)Section 133(6)Section 147Section 131Section 139(1)Section 153ASection 69C

Issues it is cited on

bogus share capitalcreditworthiness of the creditoronus of proofsource of sourceretracted statementpaper companyshare capital and share premiumshare application moneyaddition under section 68addition u/s 68genuineness of the transactionsection 132(1)

Judgments citing CIT v. Steller Investment Ltd.

ACIT, Central Circle- 26, New Delhi vs. Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi

The appeal of the revenue is dismissed

ITA 1464/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1190/DEL/2018[2011-12]Status: DisposedITAT Delhi06 Sept 2018AY 2011-12

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1189/DEL/2018[2010-11]Status: DisposedITAT Delhi06 Sept 2018AY 2010-11

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1186/DEL/2018[2013-14]Status: DisposedITAT Delhi06 Sept 2018AY 2013-14

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1185/DEL/2018[2012-13]Status: DisposedITAT Delhi06 Sept 2018AY 2012-13

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1182/DEL/2018[2009-10]Status: DisposedITAT Delhi06 Sept 2018AY 2009-10

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1181/DEL/2018[2015-16]Status: DisposedITAT Delhi06 Sept 2018AY 2015-16

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

Gd Foods Manufacturing (India) Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 26, New Delhi

The appeal of the revenue is dismissed

ITA 1180/DEL/2018[2014-15]Status: DisposedITAT Delhi06 Sept 2018AY 2014-15

Bench: Shri Prashant Maharishi & Shri K. N. Chary

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Sanjit Singh, CIT DR
Section 132Section 153A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―C‖: NEW DELHI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI K. N. CHARY JUDICIAL MEMBER ITA No. ITA No Assessment Year ( By Assessee) ( By Revenue) 1182/Del/2018 1464/Del/2018 2009-10 1189/Del/2018 1465/Del/2018 2010-11 1190/Del/2018 1466/Del/2018 2011-12 1185/Del/2018 1467/Del/2018 2012-13 1186/Del/2018 1468/Del/2018 2013-14 1180/Del/2018 1469/Del/2018 2014-15 1181/Del/2018 1470/Del/2018 2015-16 G.D. Foods Manufacturing ACIT, Vs. (India) Pvt. Ltd, Central Circle-26, Plot NO. 14, B Block, New Delhi Community Centre, Janakpuri, New Delhi PAN: AAACG9952A (App…

ITO 7(1)(4), Mumbai vs. Lisha Trading P.Ltd, Mumbai

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

ITA 5845/MUM/2016[2012-13]Status: DisposedITAT Mumbai23 Aug 2018AY 2012-13

Bench: Shri Joginder Singh & Shri G Manjunathaassessment Year : 2012-13 Ito 7(1)(4), Lisha Trading P. Ltd., Mumbai Ground Floor, Rajguru Apartment, Vs. Baburao Parulekar Marg, Dadar (W), Mumbai 400 028

For Appellant: Shri Anoop HiwaseFor Respondent: Shri Vimal Punamiya
Section 143(2)Section 68

…s shareholders, whose names are given to the AO, then the Department is free to proceed to reopen their individual assessments in accordance with law, but it cannot be regarded as undisclosed income of assessee company." CIT vs. Steller Investment Ltd (2001) 251 ITR 263 (SC) (civil appeal) "That the increase in subscribed capital of the respondentcompany could not be a device of converting black money into white with the help of formation of an investment company, on the round that, even if it be assumed that the subscribers to the increased capital were not genuine, tinder no circumstances could the amount of…

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

…that the subscribers to the increased share capital were not genuine, under no circumstances the amount of share capital could be regarded as undisclosed income of the Company. This view was confirmed by the apex court in CIT v. Steller Investment Ltd* [2001] 251 ITR 263. In view of this legal position, the present appeal is to be decided. It is clear from the decision of the Hon'ble Delhi High Court in the case of Oasis Hospitalities P Ltd, 2011 333 ITR 119 [Del.), that once the assessee filed copy of PAN, Acknowledgement copy of the return of income of the investing company, their bank accounts statements for t…

Shreenath Heritage Liquor Pvt. Ltd., Jhunjhunu vs. Assistant Commissioner of Income Tax, Circle, Jhunjhunu

In the result, the appeal of the assessee is partly allowed

ITA 279/JPR/2018[2013-14]Status: DisposedITAT Jaipur16 Jul 2018AY 2013-14
For Appellant: Shri S.L. Poddar, Advocate and Ms. Eisha Kanoongo, AdvocateFor Respondent: Shri A.S. Nehra, JCIT - DR
Section 115BSection 68

…apital, the amount of share capital cannot be regarded as undisclosed income of the company. The learned counsel has referred to the decision in the case of Shree Barkha Synthetics Pvt. Ltd (supra) wherein this Court has noticed that in Steller's case [(2001) 251 ITR 263],the Hon'ble Supreme Court has affirmed the view of Delhi High Court in the case of CIT Vs. Stellar Investment Limited :(1991) 192 ITR 287 (Del.) that reads as under :- 10 Shreenath Heritage Liquor Pvt. Ltd. vs ACIT,Circle,Jhunjhunu "It is evident that even if it be assumed that the subscribers to the increased share capital were not genuine, ne…

Income Tax Officer, Jaipur vs. M/S Marathon India Ltd., Jaipur

In the result, the appeal of the Revenue is dismissed

ITA 287/JPR/2018[2014-15]Status: DisposedITAT Jaipur27 Jun 2018AY 2014-15

Bench: The Ao At The Time Of Assessment Proceedings With A Certificate That The Above Said Forms Had Been Ito Vs. M/S Marathon India Ltd.

For Appellant: Shri B. L. Agarwal (C.A.)For Respondent: Smt. Seema Meena (JCIT)
Section 80I

…the judgement of the Delhi High Court in CIT v. Stellar Investment Ltd. [1991] 192 ITR 287/ 59 Taxman 568(Delhi), which judgement has been confirmed by the Honourable Apex Court and the same was reported in CIT v. Steller Investment Ltd. [2001] 115 Taxman 99/ 251 ITR 263(SC). 13. In the light of the above, no question of law much less substantial question of law would arise for consideration. Accordingly, the tax case appeal stands dismissed. Connected miscellaneous petition is closed. However, there is no order as to costs.” 6 ITO vs. M/s Marathon India Ltd. The order of Hon’ble Madras High Court has been affi…

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

…t such shareholders and if necessary reopen their 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.…

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

…is produced by the appellant company, the revenue 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.…

The ACIT, Rajahmundry vs. M/S. Gauthami Chemicals and Pesticides Pvt, Ltd., Rajahmundry

In the result, appeal of the revenue is dismissed

ITA 306/VIZ/2016[2011-2012]Status: DisposedITAT Visakhapatnam18 May 2018AY 2011-2012

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.306/Viz/2016 (धििाारण िर्ा/Assessment Year:2011-12) Acit Vs. M/S Gowthami Chemicals & Circle-1(1) Pesticides (Pvt.) Ltd. Rajahmundry D.No.22-9-2, Lakshmi Dham Veerabhadrapuram Rajahmundry [Pan : Aaacg8085C] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलार्थी की ओर से / Appellant By : Shri M.R.Bangari, Dr प्रत्यार्थी की ओर से / Respondent By : Shri G.V.N.Hari, Ar सुनवाई की तारीख / Date Of Hearing : 15.05.2018 18.05.2018 घोषणा की तारीख/Date Of Pronouncement :

For Appellant: Shri M.R.Bangari, DRFor Respondent: Shri G.V.N.Hari, AR

…s (Pvt.) Ltd., Rajahmundry revenue failed to discharge its onus. The Ld.CIT(A) relied on the orders of the Hon’ble ITAT Vizag Bench in the case of M/s Merridian Promotors Pvt. Ltd. Vs. DCIT, the decision of Hon’ble Supreme Court in the case of Lovely Exports 251 ITR 263 and the decision of Hon’ble Delhi High Court in the case of CIT Vs. Stellar Investments Ltd. 192 ITR 287 and deleted the addition. Aggrieved by the order of the Ld.CIT(A) the revenue carried the matter to the Tribunal. 9. We have heard both the parties and perused the material placed on record. The revenue’s case is that the assessee could not e…

Bmm Ispat Limited, Hospet vs. DCIT, Bangalore

In the result, Revenue’s appeal for Assessment Year 2011-12 is dismissed

ITA 779/BANG/2015[2008-09]Status: DisposedITAT Bangalore10 Apr 2018AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri K.V.Arvind, Standing Counsel for Dept
Section 132Section 143(3)Section 153ASection 153DSection 234BSection 234DSection 68

…011] 333 ITR 111 (Karn) wherein this court following the judgments of the Supreme Court in the case of CIT v. Lovely Exports P. Ltd. reported in [2008] 216 CTR (SC) 195; [2009] 319 ITR (St.) 5 (SC) and also in the case of CIT v. Steller Investment Ltd. [2001] 251 ITR 263 (SC) has ruled that it is not for the assessee to place material before the Assessing Officer in regard to the creditworthiness of the shareholders. If the company has given the addresses of the shareholders and their identity is not in dispute, whether they were capable of investing, the Assessing Officer shall investigate. It is not for the ass…

Dinesh Kumar Singhi, Bangalore vs. DCIT, Bangalore

In the result, the assessee's appeal for Assessment Year 2011-12 is partly allowed

ITA 699/BANG/2015[2005-06]Status: DisposedITAT Bangalore10 Apr 2018AY 2005-06

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri K.V. Arvind, Standing Counsel for Dept
Section 10BSection 132Section 143(3)Section 148Section 153ASection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER ITA No. & Asst. Year Appellant Respondent 699/Bang/2015 Shri Dinesh Kumar Singhi, Dy. Commissioner (2005-06) No.19, Singhi Villa, Norris of Income Tax, Road, Shantinagar, Central Circle 1(2), Bangalore-560 027 Bangalore. 700 & 701/Bang/2015 Shri Dinesh Kumar Singhi, Dy. Commissioner (2006-07 & 2007-08) Bangalore-560 027 of Income Tax, Central Circle 1(2), Bangalore. 1053 & Shri Dinesh Kumar Singhi, Dy. Commissioner 1054/Bang/2015 Bangalore-560 027 of Income Tax, (201…

Asst.C.I.T., Bangalore vs. M/S Singhi Holdings Pvt. Ltd., Bangalore

In the result, Revenue’s appeal for Assessment Year 2010-11 is dismissed

ITA 1112/BANG/2015[2010-11]Status: DisposedITAT Bangalore10 Apr 2018AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri K.V. Arvind, Standing Counsel for DeptFor Respondent: Shri K.R. Pradeep, C.A
Section 132Section 143(3)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER I.T. A. No.1112/Bang/2015 (Assessment Year : 2010-11) Appellant Vs. Respondent Asst. Commissioner of M/s. Singhi Holdings Pvt. Ltd., Income Tax, No.101, Pride Elite, Plot No.10, Central Circle 1(2), Museum Road, Bangalore. Bangalore. Appellant By : Shri K.V. Arvind, Standing Counsel for Dept. Respondent By : Shri K.R. Pradeep, C.A. Date of Hearing : 01.02.2018. Date of Pronouncement : 10.4.2018. O R D E R Per Shri Jason P Boaz, A.M. : This appeal by Revenue is d…

Asst.C.I.T., Bangalore vs. M/S Bmm Cements Limited, Bangalore

In the result, the assessee’s C

ITA 1109/BANG/2015[2010-11]Status: DisposedITAT Bangalore10 Apr 2018AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazthe Asst. Commissioner Of Income-Tax, Central Circle-1(2), Bengaluru. . Appellant Vs. M/S Bmm Cements Ltd., Bengaluru. . Respondent Co No.206/Bang/2015 Appellant By : Shri K.V Aarvind, Standing Counsel Respondent By : Shri K.R Pradeep, Advocate Date Of Hearing : 01-2-2018 Date Of Pronouncement : 10-4-2018 O R D E R

For Appellant: Shri K.V Aarvind, Standing CounselFor Respondent: Shri K.R Pradeep, Advocate
Section 132Section 143(1)Section 143(3)Section 147Section 148Section 68

…011] 333 ITR 111 (Karn) wherein this court following the judgments of the Supreme Court in the case of CIT v. Lovely Exports P. Ltd. reported in [2008] 216 CTR (SC) 195; [2009] 319 ITR (St.) 5 (SC) and also in the case of CIT v. Steller Investment Ltd. [2001] 251 ITR 263 (SC) has ruled that it is not for the assessee to place material before the Assessing Officer in regard to the creditworthiness of the shareholders. If the company has given the addresses of the shareholders and their identity is not in dispute, whether they were capable of investing, the Assessing Officer shall investigate. It is not for the ass…

Ranjitpura Infrastructure Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the assessee's appeals for Assessment Years 2010-11

ITA 1104/BANG/2015[2010-11]Status: DisposedITAT Bangalore10 Apr 2018AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boaz

For Appellant: Shri k.R. Pradeep, C.AFor Respondent: Shri K.V.Arvind, Standing Counsel for Dept
Section 132Section 143(1)Section 143(3)Section 147Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER I.T. A. No.1104 & 1105/Bang/2015 (Assessment Years : 2010-11 & 2011-12) M/s. Ranjitpura Infrastructure Pvt. Ltd., No.101, Plot No.10, Pride Elite, Museum Road, Bangalore-560 001 …. Appellant. Vs. Dy. Commissioner of Income Tax, Central Circle 1(2), Bangalore. ….. Respondent. I.T. A. No.1110 & 1111/Bang/2015 (Assessment Years : 2010-11 & 2011-12) Dy. Commissioner of Income Tax, Central Circle 1(2), Bangalore. ….. Appellant. Vs. M/s. Ranjitpura Infrastructure Pvt…