CIT v. STL Extrusion (P) Ltd.

333 ITR 269High Court2011#3882 most cited

What is CIT v. STL Extrusion (P) Ltd. authority for?

If an assessee establishes the identity and source of share application money, additions under section 68 are not sustainable, shifting the burden to the department to prove the funds emanated from the assessee's undisclosed income.

31

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. STL Extrusion (P) Ltd. · 333 ITR 269 · addition under section 68 · share application money · identity and source · cash credit · bogus share capital · undisclosed income

Also reported as

11 Taxmann.com 125

Issues it is cited on

bogus share capitalfirst proviso to section 147kelvinatorlive linkshare application moneyborrowed satisfactionincome escaping assessmentaddition under section 68change of opinionreason to believereopening of assessmenttangible material

Judgments citing CIT v. STL Extrusion (P) Ltd.

BRAND INDIA REAL ESTATE PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER WARD 6(1), JAIPUR

In the result, appeal of the assessee is allowed

ITA 514/JPR/2025[2012-2013]Status: DisposedITAT Jaipur29 Sept 2025AY 2012-2013
For Appellant: Shri Siddharth Ranka, Adv. &For Respondent: Shri Dharam Singh Meena, JCIT
Section 132Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 250

…at even if share applicants did not have the means to make\ninvestment, the investment made by them actually emanated from the coffers of the assessee so\nas to enable it to be treated as undisclosed income of the assessee.\n(v) CIT_v/s_STL Extrusion (P) Ltd. 333 ITR 269 (MP) Income-Cash credit-Share\napplication money-Assessee has duly established the identity and source of credits—Additions\nnot sustainable.\n(vi) CIT_v/s_Arunanda Textiles (P) Ltd., 333 ITR 116 (Karnataka) Share application\nmoney-Assessee able to identify the shareholders—It is not for the assessee-company to\nestablish but it is for the Depar…

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

ITA 252/NAG/2018[2012-13]Status: DisposedITAT Nagpur06 Dec 2024AY 2012-13

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

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 131Section 143(2)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.252/Nag./2018 (Assessment Year : 2012–13) Dy. Commissioner of Income Tax ……………. Appellant Circle–2, Nagpur v/s M/s. N. Kumar Construction Co. Pvt. Ltd. 7th Floor, Poonam Plaza, Palm Road ……………. Respondent Civil Lines, Nagpur 440 001 AABCN9937H Appellant by : Shri Manoj G. Moryani Revenue by : Shri Vikash Agrawal Date of Hearing – 06/11/2024 Date of Order – 06/12/2024 O R D E R PER K.M. ROY, A.M. The appeal filed by the Revenue is against the impugned order dated 01/…

DY COMMISSIONER OF INOCME TAX , CIRCLE -2, NAGPUR vs. M/S N KUMAR CONSTRUCTION CO .PVT.LTD , NAGPUR

ITA 247/NAG/2018[2010-11]Status: DisposedITAT Nagpur06 Dec 2024AY 2010-11

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

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikas Agrawal
Section 131Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI K.M. ROY, ACCOUNTANT, MEMBER ITA no.247/Nag./2018 (Assessment Year : 2010–11) Dy. Commissioner of Income Tax ……………. Appellant Circle–2, Nagpur v/s M/s. N. Kumar Construction Co. Pvt. Ltd. 7th Floor, Poonam Plaza, Palm Road ……………. Respondent Civil Lines, Nagpur 440 001 AABCN9937H Appellant by : Shri Manoj G. Moryani Revenue by : Shri Vikas Agrawal Date of Hearing – 06/11/2024 Date of Order – 06/12/2024 O R D E R PER K.M. ROY, A.M. This appeal by the Revenue is directed against the impugned order dated…

ANCHITA PROPERTIES PVT. LTD. ,KOLKATA vs. ITO, WARD-12(1), KOLKATA. , KOLKATA

In the result, both the appeals of the assessee are allowed

ITA 637/KOL/2024[2013-14]Status: DisposedITAT Kolkata22 Aug 2024AY 2013-14

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

Section 133(6)Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 263Section 68

…46 OF 2022] reported in [2022] 443 ITR 127 (Bombay), 10. Income Tax vs. Odeon Builders Pvt. Ltd. (21.08.2019- SC) [2019] 418 ITR 315 (SC), 11. Andaman Timber Industries vs. Commissioner of Central Excise 2015 281 CTR 241 (SC), 12 STL Extrusion (P) Ltd [2010 : 333 ITR 269 13. CIT v. Gangeshwari Metal P. Ltd. [(2014) 361 ITR 10 (Delhi)], 14. Orchid Industries Pvt. Ltd., reported in [2017] 397 ITR 136 (BOM)- SLP dismissed by SC 16 & Anchita Properties Pvt. Ltd. 15. Principal Commissioner of Income-tax v. Prakhar Developers (P.) Ltd [2024] 162 taxmann.com 48 (Madhya Pradesh)[01-04-2024] 16. Westlife Development Lt…

ANCHITA PROPERTIES PVT. LTD.,KOLKATA vs. P.C.I.T., KOLKATA - 2, KOLKATA

In the result, both the appeals of the assessee are allowed

ITA 1067/KOL/2024[2013-2014]Status: DisposedITAT Kolkata22 Aug 2024AY 2013-2014

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Boradi.T.A. No. 637/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Income Tax Officer,………………………….……Respondent Ward-12(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 & I.T.A. No. 1067/Kol/2024 Assessment Year: 2013-2014 Anchita Properties Pvt. Limited,………………Appellant 29, Collotola Street, Kolkata-700029 [Pan:Aahca9115E] -Vs.- Principal Commissioner Of Income Tax,…Respondent Pcit, Kolkata-2, Office Of The Income Tax Officer, Ward-12(1), Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069

Section 133(6)Section 139(1)Section 143(2)Section 143(3)Section 147Section 148Section 250Section 263Section 68

…46 OF 2022] reported in [2022] 443 ITR 127 (Bombay), 10. Income Tax vs. Odeon Builders Pvt. Ltd. (21.08.2019- SC) [2019] 418 ITR 315 (SC), 11. Andaman Timber Industries vs. Commissioner of Central Excise 2015 281 CTR 241 (SC), 12 STL Extrusion (P) Ltd [2010 : 333 ITR 269 13. CIT v. Gangeshwari Metal P. Ltd. [(2014) 361 ITR 10 (Delhi)], 14. Orchid Industries Pvt. Ltd., reported in [2017] 397 ITR 136 (BOM)- SLP dismissed by SC 16 & Anchita Properties Pvt. Ltd. 15. Principal Commissioner of Income-tax v. Prakhar Developers (P.) Ltd [2024] 162 taxmann.com 48 (Madhya Pradesh)[01-04-2024] 16. Westlife Development Lt…

ARIHANT PLANTATIONS PVT. LTD,KOLKATA vs. DCIT, CIR-4(1), KOL, KOLKATA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 474/KOL/2023[2013-14]Status: DisposedITAT Kolkata22 Aug 2023AY 2013-14

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

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

…uch a scenario cannot be sustained by strongly relying on the decision of Hon’ble Apex Court in the case of CIT vs. Orissa Corporation reported in [1986] 159 ITR 78 (SC), decision of Hon’ble Jurisdictional High Court in the case of STL Extrusion P Ltd. [2010] 333 ITR 269 (Cal), decision of Hon’ble Delhi High Court in the case of CIT vs. Gangeswari Metal P Ltd. in [2014] 361 ITR 10 (Del). The Ld. A.R therefore prayed before the Bench that the addition so sustained by the Ld. CIT(A) may kindly 4 I.T.A. No.474/Kol/2023 Assessment Year: 2013-14 Arihant Plantations Pvt. Ltd. be deleted. Alternatively the ld. A.R con…

M/S DAVALAGIRI PROPERTY DEVELOPERS PRIVATE LIMITED ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2(1)(2), BANGALORE

In the result, the appeal by the assessee is allowed

ITA 568/BANG/2019[2009-10]Status: DisposedITAT Bangalore11 Apr 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2009-10

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl.CIT(DR)(ITAT), Bengaluru
Section 133(6)Section 234Section 68

…reholders. If the names of the alleged bogus shareholders are given to the AO, then the department is free to proceed to reopen their individual assessments in accordance with law. The Supreme Court upheld this view. (4) CIT v. STL Extrusion (P.) Ltd. [ 2011] 333 ITR 269 : Where Assessee had duly discharged its onus by furnishing names, age, address, date of filing application of share, number of shares of each subscriber, the AO was not justified in making addition u/s 68. (5) CIT v. Arunananda Textiles (P.) Ltd. [2011] 203 Taxman 32 (Mag.)/15 taxmann.com 226 (Kar.) It was not for the Assessee to place material…

SEJAL JEWELLERS PVT. LTD.,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result, appeal of the assessee is allowed

ITA 435/AHD/2017[2012-13]Status: DisposedITAT Surat28 Feb 2022AY 2012-13

Bench: Shripawan Singh, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.435/Ahd/2017 (िनधा"रणवष" / Assessment Year: (2012-13) (Virtual Court Hearing) Sejal Jewellers Pvt. Ltd, Income Tax Officer, Ward-2(1)(2), V Ug-4/5 Rangila Park, Ghod Dod Surat, Aaykar Bhavan, Majura Gate, S. Road, Surat-395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaqcs 8686 P (Appellant ) (Respondent)

For Appellant: Shri Rasesh Shah, CAFor Respondent: Shri H.P. Meena– CIT-DR
Section 131Section 131(1)(d)Section 133(6)Section 143(3)Section 68

…CIT [283 ITR 0377] (Raj. HC)  CIT v/s. Pranav Foundation Ltd. – 51 taxmann.com 198 (Mad.)  CIT v/s. Vacmet Packaging (India) Pvt. Ltd. – 367 ITR 217 (All.)  CIT v/s. Navbharat Duplex Ltd. – Tax Appeal No. 279 of 2010 (All.)  CIT vs STL Extrusion (P) Ltd [ 333 ITR 269] (MP)  CIT v/s Arunananda Textiles (P) Ltd. [333 ITR 116] [KAR]  CIT vs. Peoples General Hospital Ltd. [85 CCH 0223] [MP.]  Deem Roll Tech Ltd. v/s. Dy. CIT [92 taxmann.com 72] (Ahd.)  ACIT vs. El Dorado Biotech (P.) Ltd. [2021] 123 taxmann.com 265 (Ahd.)  ITA No.435/AHD/2017 A.Y. 2012-13 Sejal Jewellers Pvt. Ltd. Receipt of share capital an…

ASST CIT 9(2)(1), MUMBAI vs. BRIMA SAGAR MAHARASHTRA DISTILLERIES LTD, MUMBAI

The appeal stands dismissed

ITA 756/MUM/2016[2011-12]Status: DisposedITAT Mumbai28 Jun 2021AY 2011-12

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Ravish Sood, Jm

For Appellant: Shri S.C.Tiwari – Ld. ARFor Respondent: Shri Sushil Kumar Mishra (Ld. CIT-DR)/
Section 133(6)Section 143(3)Section 68

…tment is free to proceed to reopen the individual assessments of the deposits named by the assessee, however, under no circumstances, can the amount of share capital be regarded as the undisclosed income of the assessee." iv. In CIT Vs. STL Extrusion (P) Ltd. 333 ITR 269 the Hon'ble Madhya Pradesh High Court held that though it is the duty of the assessee to establish the genuineness of the credits but in the present case the assessee has duly established the identity and source of credits. The Tribunal has also held that once the identity and source of the subscribers of the shares is established no addition can…

M/S MULTIVENTURE FINANCIAL SERVICES PVT LTD.,MUMBAI vs. ITO 3 (2)(2), MUMBAI

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is allowed

ITA 4882/MUM/2019[2010-11]Status: DisposedITAT Mumbai22 Feb 2021AY 2010-11

Bench: Shri Rajesh Kumar & Shri Amarjit Singh

For Appellant: Shri Vishnu Aggarwal, A.RFor Respondent: Shri Bharat Andhala, D.R
Section 143(3)Section 2Section 2(47)

…hese circumstances to inquire into the affairs of DP which is an independent company in as much as no finding is arrived at by the AO that the two companies are umbrella companies or have any relationship with each other. v. In CIT Vs. STL Extrusion (P) Ltd. 333 ITR 269 the Hon'ble Madhya Pradesh High Court held that though it is the duty of the assessee to establish the genuineness of the credits but in the present case the assessee has duly established the identity and source of credits. The Tribunal has also held that once the identity and source of the subscribers of the shares is established no addition ca…

ITO - 3(2)(2), MUMBAI vs. M/S MULTIVENTURE FINANCIAL SERVICES PVT. LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is allowed

ITA 3715/MUM/2019[2010-11]Status: DisposedITAT Mumbai22 Feb 2021AY 2010-11

Bench: Shri Rajesh Kumar & Shri Amarjit Singh

For Appellant: Shri Vishnu Aggarwal, A.RFor Respondent: Shri Bharat Andhala, D.R
Section 143(3)Section 2Section 2(47)

…hese circumstances to inquire into the affairs of DP which is an independent company in as much as no finding is arrived at by the AO that the two companies are umbrella companies or have any relationship with each other. v. In CIT Vs. STL Extrusion (P) Ltd. 333 ITR 269 the Hon'ble Madhya Pradesh High Court held that though it is the duty of the assessee to establish the genuineness of the credits but in the present case the assessee has duly established the identity and source of credits. The Tribunal has also held that once the identity and source of the subscribers of the shares is established no addition ca…

THE ACIT (CENTRAL), UJJAIN vs. M/S. VYANKTESH PLASTICS & PACKAGING (P) LTD., UJJAIN

ITA 737/IND/2019[2015-16]Status: DisposedITAT Indore11 Jan 2021AY 2015-16

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…i) Nemichand Kothari vs. CIT (2003) 264 ITR 254 (Gau.) iii) CIT vs. Mehrotra Brothers (2004) 270 ITR 0157 (MP) iv) Ashok Pal Daga vs. CIT (1996) 220 ITR 0452 (MP) v) DCIT vs. Rohini Builders (2002) 256 ITR 360 (Guj) vi) CIT vs. STL Extrusions Pvt. Ltd. (2011) 333 ITR 269 (MP) vii) CIT vs. Devi Prasad Khandelwal & Company Ltd. (1971) 81 ITR 460 (Bom.) viii) CIT vs. Orissa Corporation P. Ltd. (1986) 159 ITR 0078 (SC) ix) Orient Trading Co. Ltd. vs. CIT (1963) 49 ITR 0723 (Bom) x) CIT vs. Taj Borewell (2007) 291 ITR 0232 (Mad.) xi) Addl. CIT vs. Bahri Brothers (P) Ltd. (1985) 154 ITR 0244 (Pat) xii) CIT vs. Hanuman…

ACIT (CENTRAL) , UJJAIN vs. M/S. ARIBA FOODS (P) LTD., INDORE

ITA 736/IND/2019[2016-17]Status: DisposedITAT Indore11 Jan 2021AY 2016-17

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…i) Nemichand Kothari vs. CIT (2003) 264 ITR 254 (Gau.) iii) CIT vs. Mehrotra Brothers (2004) 270 ITR 0157 (MP) iv) Ashok Pal Daga vs. CIT (1996) 220 ITR 0452 (MP) v) DCIT vs. Rohini Builders (2002) 256 ITR 360 (Guj) vi) CIT vs. STL Extrusions Pvt. Ltd. (2011) 333 ITR 269 (MP) vii) CIT vs. Devi Prasad Khandelwal & Company Ltd. (1971) 81 ITR 460 (Bom.) viii) CIT vs. Orissa Corporation P. Ltd. (1986) 159 ITR 0078 (SC) ix) Orient Trading Co. Ltd. vs. CIT (1963) 49 ITR 0723 (Bom) x) CIT vs. Taj Borewell (2007) 291 ITR 0232 (Mad.) xi) Addl. CIT vs. Bahri Brothers (P) Ltd. (1985) 154 ITR 0244 (Pat) xii) CIT vs. Hanuman…

THE ACIT (CENTRAL), UJJAIN vs. M/S. FAMOUS VANIJYA (P) LTD. , UJJAIN

ITA 773/IND/2019[2011-12]Status: DisposedITAT Indore06 Jan 2021AY 2011-12

Bench: Justice P.P. Bhatt, Hon'Ble & Hon'Ble Manish Boradvirtual Hearing Assessment Year: 2016-17 M/S. Ariba Foods Pvt. Acit (Central), Vs. Ltd, 101, Gold Star Building, Ujjain Opp. Treasure Island, 5767 M.G. Road, Indore (Revenue ) (Appellant) Pan No.Aalca7223M Assessment Year: 2015-16 M/S. Vyanktesh Plastics Acit (Central), Vs. & Packaging Pvt. Ltd, 75/7-B, Industrial Area, Ujjain Maxi Road, Ujjain (Revenue ) (Appellant) Pan No.Aaacv6547J Assessment Year: 2011-12

Section 143(3)Section 147Section 68

…i) Nemichand Kothari vs. CIT (2003) 264 ITR 254 (Gau.) iii) CIT vs. Mehrotra Brothers (2004) 270 ITR 0157 (MP) iv) Ashok Pal Daga vs. CIT (1996) 220 ITR 0452 (MP) v) DCIT vs. Rohini Builders (2002) 256 ITR 360 (Guj) vi) CIT vs. STL Extrusions Pvt. Ltd. (2011) 333 ITR 269 (MP) vii) CIT vs. Devi Prasad Khandelwal & Company Ltd. (1971) 81 ITR 460 (Bom.) viii) CIT vs. Orissa Corporation P. Ltd. (1986) 159 ITR 0078 (SC) ix) Orient Trading Co. Ltd. vs. CIT (1963) 49 ITR 0723 (Bom) x) CIT vs. Taj Borewell (2007) 291 ITR 0232 (Mad.) xi) Addl. CIT vs. Bahri Brothers (P) Ltd. (1985) 154 ITR 0244 (Pat) xii) CIT vs. Hanuman…

JCIT (OSD)- 9(3)(1), MUMBAI vs. DILIP PAJWANI DEVELOPERS, MUMBAI

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

ITA 3050/MUM/2018[2012-13]Status: DisposedITAT Mumbai29 Jan 2020AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3050/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Jcit (Osd)-9(3)(1) बिधम/ M/S. Dilip Pajwani 215, 2Nd Floor, Aayakar Developers Vs. Bhavan, M.K. Marg, 8/66, Varma Nagar, Off, Azad Road, Andheri (E), Mumbai-400020. Mumbai-400069. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccd1949E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Drop Singh Meena (Sr. Ar) Assessee By: Shri Paresh Shaparia सुनवाई की तारीख / Date Of Hearing: 14/11/2019 घोषणा की तारीख /Date Of Pronouncement: 29/01/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 23.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -16, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2012- 13. 2. The Revenue Has Raised The Following Grounds: -

For Appellant: Shri Paresh ShapariaFor Respondent: Shri Drop Singh Meena (Sr. AR)
Section 115JSection 133(6)Section 143(1)Section 143(2)Section 68

…ese circumstances to inquire into the of airs of DP which is an independent company in as' much as no finding is arrived at by the AO that the two companies are- umbrella companies or have any relationship with each other. e. In CIT vs. STL Extrusion (P) Ltd. 333 ITR 269 the Hon’ble Madhya Pradesh High Court held that though it is the duty of the assessee to establish the genuineness of the credits but in the present case the assesses has duly established the identity and source of credits, The Tribunal has also held that once the identity and source of the subscribers 'of the shards is established no. 8 A.Y.201…

ITO 9 (1)(4), MUMBAI vs. ASHIANA HOMES MARTS PVT. LTD., MUMBAI

The appeal stand dismissed

ITA 5736/MUM/2018[2009-10]Status: DisposedITAT Mumbai05 Dec 2019AY 2009-10

Bench: Hon’Ble Shri C.N. Prasad, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri S. Michael Jerald- Ld. DRFor Respondent: Shri Satish Mody–Ld. AR
Section 68

…n these circumstances to inquire into the affairs of DP which is independent company in as' much as no finding is arrived at by the AO that the two companies are umbrella companies or have any relationship with each other. e. In CIT Vs. STL Extrusion (P) Ltd. 333 ITR 269 the Morale Madhya Pradesh High Court held that though it is the duty of the assessee to establish the genuineness of the credits but in the present case the assessee has duly established the identity and source of credits. The Tribunal has also held that once the identity and source of the subscribers of the shares is established no addition can…

M/S.GEETANJALI SPACE PRIVATE LIMITED,MUMBAI vs. DY. CIT CC-1(1), MUMBAI

In the result, the appeal of the assessee is allowed and that of the Revenue is dismissed

ITA 782/MUM/2019[2010-11]Status: DisposedITAT Mumbai31 May 2019AY 2010-11

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2010-11

For Appellant: Shri Dilip Lakhani, A.RFor Respondent: Shri Rahul Raman, D.R
Section 143(3)Section 153ASection 68

…Ram Syal Hydro Power Private Limited 196Taxman 441 8. Comrnr. Of Income tax v/s HLT Finance Pvt. Ltd. 12 Taxmann.com 247 9. Commr, Of Income Tax, Central-Ill Vs Anshika Consultants (P) Ltd. 62 Taxmann.com 192 10.Commr. of Income tax v/s STL Extrusion P. Ltd. 333 ITR 269 11. Commr. Of Income tax v/s GP International Limited 325 ITR 25 12. Asst. Commr. Of Income tax v/s Venkateshwar Ispat (P) Ltd 319 ITR 393 13. Commr. Of Income Tax Vs Fair finvest Ltd. 44 taxmann.com 356 14. Commr. Of Income Tax, Bhopal (M.P.) Vs. Peoples General Hospital Ltd. 35 taxmann.com 444 15. Commr. Of Income Tax, Chennai Vs. Pranav Found…

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…

SUMATI KUMAR KASLIWAL,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, (CENTRAL)-1, INDORE, INDORE

ITA 472/IND/2017[2013-14]Status: DisposedITAT Indore30 Apr 2019AY 2013-14

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 132Section 143(2)Section 153ASection 68

…Sumati Kumar Kasliwal & others ITANo.181,472/Ind/2017,ITA(SS)No.178,ITANo.468/Ind/2017&C.O.No.31/Ind/2018 and others 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 ITA(SS) No.181, ITA 472/Ind/2017 Assessment Years 2012-13 & 2013-14 Shri Sumati Kumar Kasliwal, ACIT (Central)-1, 17, Gulmohar Colony, Vs. Indore Indore (Appellant) (Respondent ) PAN No.AABPK9520G ITA(SS) No.179/Ind/2017 & ITANo.465/Ind/2017 Assessment Years 2012-13 & 2013-14 Shri Parth Kasliwal, ACIT (Centra…

M/S NISHANT FINANCE PVT.LTD,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL (I), INDORE, INDORE

ITA 470/IND/2017[2013-14]Status: DisposedITAT Indore30 Apr 2019AY 2013-14

Bench: Hon’Ble Kul Bharat & Hon’Ble Manish Borad

Section 132Section 143(2)Section 153ASection 68

…Sumati Kumar Kasliwal & others ITANo.181,472/Ind/2017,ITA(SS)No.178,ITANo.468/Ind/2017&C.O.No.31/Ind/2018 and others 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 ITA(SS) No.181, ITA 472/Ind/2017 Assessment Years 2012-13 & 2013-14 Shri Sumati Kumar Kasliwal, ACIT (Central)-1, 17, Gulmohar Colony, Vs. Indore Indore (Appellant) (Respondent ) PAN No.AABPK9520G ITA(SS) No.179/Ind/2017 & ITANo.465/Ind/2017 Assessment Years 2012-13 & 2013-14 Shri Parth Kasliwal, ACIT (Centra…

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