CIT v. STL Extrusion (P) Ltd.

333 ITR 269High Court2011#3833 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 366,339 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.

Shrimati Sharda Kasliwal, Indore vs. Assistant Commissioner of Income Tax- Central (I), Indore

ITA 469/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 Pumarth Infrastructure Pvt.Ltd., Indore vs. Assistant Commissioner of Income Tax (Central)-1, Indore

ITA 468/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…

Manoj Kasliwal, Indore vs. Assistant Commissioner of Income Tax- Central (1), Indore

ITA 466/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…

Parth Kasliwal, Indore vs. Assistant Commissioner of Income Tax- Central (I), Indore

ITA 465/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…

Dyputi Commissioner of Income Tax (Central)-1, Indore vs. M/S Pumarth Infrastructure Pvt. Ltd., Indore

ITA 452/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 Kamal Rayon Pvt. Ltd., Surat vs. ITO, Ward 1(1)(3), Surat

In the result, appeal of the assessee is allowed

ITA 161/SRT/2018[2012-13]Status: DisposedITAT Surat03 Oct 2018AY 2012-13

Bench: Shri C.M.Garg & Shri O.P.Meena

Section 131Section 143(3)Section 68

…M/s. Kamal Rayon Pvt. Ltd. Vs. ITO, Ward.1(1)(3)/SRT/I.T.A. No. 161/SRT/2018/A.Y.12-13 Page 1 of 24 आयकर अपील"य अ"धकरण,सुरत "यायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT "ी सी.एम.गग", "या"यक सद"य तथा "ी ओ.पी.मीना, , , , लेखा सद"य के सम" BEFORE SHRI C.M.GARG, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A No.161/SRT/2018 िनधा"रण वष"/Assessment Year : 2012-13 M/s. Kamal Rayon Private Vs. The Income-tax Officer, Limited, Ward-1(1) (3), Surat. 1003, New Sardar Traders Market, Sahara Darwaja, Surat-395010 [PAN: AAMCS 3194 G] अपीलाथ" Appellant ""यथ"/Respondent "नधा"रतीक"ओ…

DCIT, Jaipur vs. Godawari Estates Pvt. Ltd

ITA 493/JPR/2017[2010-11]Status: DisposedITAT Jaipur07 Nov 2017AY 2010-11
For Appellant: Shri Vijay Goyal, CA and Shri Gulshan Agarwal, CAFor Respondent: Smt. Rolee Agarwal, CIT - DR
Section 143(1)Section 143(3)Section 56(1)

…es—Similarly, AO was not justified in disbelieving the loan taken from DTL as the cheques were cleared through bank channels and confirmation and supporting evidence was filed— CIT(A) was justified in deleting the additions. xii) CIT vs STL Extrusion (P) Ltd. 333 ITR 269 (MP) Income—Cash credit—Share application money—Assessee has duly established the identity and source of credits—Assessee having duly furnished the name, age, address, date of filing the application of shares, number of shares of each subscriber there was no justification for the AO for making the impugned addition—Once the existence of the inves…

Asst CIT Cir 1, Kalyan vs. Krishna Sheet Processors P. Ltd, Mumbai

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

ITA 4003/MUM/2015[2010-11]Status: DisposedITAT Mumbai05 May 2017AY 2010-11

Bench: S/Shri B.R. Baskaran (Am) & Sandeep Gosain (Jm)

Section 68

…) was justified in deleting the additions. (a) CIT Vs. Lovely Exports (P) Ltd (2008)(216 CTR (SC) 195) (b) CIT Vs. Steller Investment Ltd (251 ITR 263)(SC) (c) CIT Vs. Kamdhenu Steel & Alloys Ltd (2012)(248 CTR (Del) 33) (d) CIT Vs. STL Extrusion P Ltd (2011)(333 ITR 269)(MP) (e) CIT Vs. Arunananda Textiles P Ltd (2011)(333 ITR 116)(Kar) (f) CIT Vs. Dwarkadhish Investment P Ltd (2011)(330 ITR 298)(Delhi) (g) ITO Vs. Neelkanth Finbuild Ltd (ITA No.2821/Del/2009 dt 1.4.15) 7. We have heard rival contentions and perused the record. We notice that the ld CIT(A) has taken note of the fact that identical addition made…

ITO 5(1)(2), Mumbai vs. Genesis Trading P. Ltd, Mumbai

In the result, all the three appeals of the revenue as well as cross objection of the assessee are dismissed

ITA 5334/MUM/2014[2007-08]Status: DisposedITAT Mumbai08 Jun 2016AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Ramlal Negi, Jm आमकय अऩीर सं./Ita No.5332 To 5334/Mum/2014 (नििाारण वषा / Assessment Year :2005-06 To 2007-08) Ito-5(1)(2), Mumbai Vs. M/S Genesis Trading Pvt. Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai- 400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection No.40/Mum/2016 (Arising Out Of Ita No.5334/Mum/2014) (नििाारण वषा / Assessment Year : 2007-08) M/S Genesis Trading Pvt. Vs. Ito-5(1)(2), Mumbai Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai-400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri S.K.Bepari ननधाारयती की ओर से /Assessee By : Shri N.R.Agrawal सुनवाई की तायीख / Date Of Hearing : 28/04/2016 घोषणा की तायीख/Date Of Pronouncement 08/06/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The Assessment Year 2005-06 To 2007-08, In The Matter Of Order Passed U/S.143(3) R.W.S.147 Of The I.T.Act. The Assessee Has Also Filed Cross Objection.

For Appellant: Shri N.R.AgrawalFor Respondent: Shri S.K.Bepari
Section 132(1)Section 143(3)Section 68

…o.5332-5334/14 & CO No.40/16 CIT v/s Jay Dee Securities & Finance Ltd. 350 ITR 220 (All) CIT v. Samir Bio-Tech P. Ltd .. 325 ITR 294 (Delhi) CIT v/s Victor Electrodes Ltd 329 ITR 271 (Del) CIT v/s K.C.Fibres Ltd 332 ITR 481 (Del) CIT v/s STL Extrusion Pvt.Ltd 333 ITR 269 (M.P.) CIT v/s Arunananda Textiles Pvt. Ltd 333 ITR 116 (Karn) CIT v/s ASK Brothers Ltd 333 ITR 111 (Karn) CIT v/s Kamdhenu SHel & Alloys Ltd. 361 ITR 220 (Del) C IT v/s Oasis Hospitalities Pvt. Ltd 333 ITR 119 (Del) CIT v. Orbital Communication (P) Ltd. (Delhi) 3271TR 560 CIT v. Ambuja Ginning, Pressing and Oil Co. P. Ltd . 332 ITR 434 (Guj) CIT…

ITO 5(1)(2), Mumbai vs. Genesis Trading P. Ltd, Mumbai

In the result, all the three appeals of the revenue as well as cross objection of the assessee are dismissed

ITA 5333/MUM/2014[2006-07]Status: DisposedITAT Mumbai08 Jun 2016AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Ramlal Negi, Jm आमकय अऩीर सं./Ita No.5332 To 5334/Mum/2014 (नििाारण वषा / Assessment Year :2005-06 To 2007-08) Ito-5(1)(2), Mumbai Vs. M/S Genesis Trading Pvt. Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai- 400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection No.40/Mum/2016 (Arising Out Of Ita No.5334/Mum/2014) (नििाारण वषा / Assessment Year : 2007-08) M/S Genesis Trading Pvt. Vs. Ito-5(1)(2), Mumbai Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai-400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri S.K.Bepari ननधाारयती की ओर से /Assessee By : Shri N.R.Agrawal सुनवाई की तायीख / Date Of Hearing : 28/04/2016 घोषणा की तायीख/Date Of Pronouncement 08/06/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The Assessment Year 2005-06 To 2007-08, In The Matter Of Order Passed U/S.143(3) R.W.S.147 Of The I.T.Act. The Assessee Has Also Filed Cross Objection.

For Appellant: Shri N.R.AgrawalFor Respondent: Shri S.K.Bepari
Section 132(1)Section 143(3)Section 68

…o.5332-5334/14 & CO No.40/16 CIT v/s Jay Dee Securities & Finance Ltd. 350 ITR 220 (All) CIT v. Samir Bio-Tech P. Ltd .. 325 ITR 294 (Delhi) CIT v/s Victor Electrodes Ltd 329 ITR 271 (Del) CIT v/s K.C.Fibres Ltd 332 ITR 481 (Del) CIT v/s STL Extrusion Pvt.Ltd 333 ITR 269 (M.P.) CIT v/s Arunananda Textiles Pvt. Ltd 333 ITR 116 (Karn) CIT v/s ASK Brothers Ltd 333 ITR 111 (Karn) CIT v/s Kamdhenu SHel & Alloys Ltd. 361 ITR 220 (Del) C IT v/s Oasis Hospitalities Pvt. Ltd 333 ITR 119 (Del) CIT v. Orbital Communication (P) Ltd. (Delhi) 3271TR 560 CIT v. Ambuja Ginning, Pressing and Oil Co. P. Ltd . 332 ITR 434 (Guj) CIT…

ITO 5(1)(2), Mumbai vs. Genesis Trading P. Ltd, Mumbai

In the result, all the three appeals of the revenue as well as cross objection of the assessee are dismissed

ITA 5332/MUM/2014[2005-06]Status: DisposedITAT Mumbai08 Jun 2016AY 2005-06

Bench: Shri R.C.Sharma, Am & Shri Ramlal Negi, Jm आमकय अऩीर सं./Ita No.5332 To 5334/Mum/2014 (नििाारण वषा / Assessment Year :2005-06 To 2007-08) Ito-5(1)(2), Mumbai Vs. M/S Genesis Trading Pvt. Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai- 400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. & Cross Objection No.40/Mum/2016 (Arising Out Of Ita No.5334/Mum/2014) (नििाारण वषा / Assessment Year : 2007-08) M/S Genesis Trading Pvt. Vs. Ito-5(1)(2), Mumbai Ltd., Oceanic, 3Rd Floor, Flat No.34, Rajab Ali Road, Mumbai-400026 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aaccg 1820 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्व की ओर से /Revenue By : Shri S.K.Bepari ननधाारयती की ओर से /Assessee By : Shri N.R.Agrawal सुनवाई की तायीख / Date Of Hearing : 28/04/2016 घोषणा की तायीख/Date Of Pronouncement 08/06/2016 आदेश / O R D E R Per R.C.Sharma (A.M): These Are The Appeals Filed By The Revenue Against The Order Of Cit(A)-Mumbai, For The Assessment Year 2005-06 To 2007-08, In The Matter Of Order Passed U/S.143(3) R.W.S.147 Of The I.T.Act. The Assessee Has Also Filed Cross Objection.

For Appellant: Shri N.R.AgrawalFor Respondent: Shri S.K.Bepari
Section 132(1)Section 143(3)Section 68

…o.5332-5334/14 & CO No.40/16 CIT v/s Jay Dee Securities & Finance Ltd. 350 ITR 220 (All) CIT v. Samir Bio-Tech P. Ltd .. 325 ITR 294 (Delhi) CIT v/s Victor Electrodes Ltd 329 ITR 271 (Del) CIT v/s K.C.Fibres Ltd 332 ITR 481 (Del) CIT v/s STL Extrusion Pvt.Ltd 333 ITR 269 (M.P.) CIT v/s Arunananda Textiles Pvt. Ltd 333 ITR 116 (Karn) CIT v/s ASK Brothers Ltd 333 ITR 111 (Karn) CIT v/s Kamdhenu SHel & Alloys Ltd. 361 ITR 220 (Del) C IT v/s Oasis Hospitalities Pvt. Ltd 333 ITR 119 (Del) CIT v. Orbital Communication (P) Ltd. (Delhi) 3271TR 560 CIT v. Ambuja Ginning, Pressing and Oil Co. P. Ltd . 332 ITR 434 (Guj) CIT…