Aditya Birla Telcom Ltd, Mumbai vs. Addl CIT RG 10(1), Mumbai
In the result, appeal of the assessee is allowed
ITA 5128/MUM/2013[2009-10]Status: DisposedITAT Mumbai01 Jan 2016AY 2009-10
Bench: Shri R.C.Sharma, Am & Shri Pavan Singh, Jm आमकय अऩीर सं./Ita No. 5128/Mum/2013 (निर्धारण वषा / Assessment Year :2009-10) Aditya Birla Telecom Ltd., 5Th Vs. Addl. Commissioner Of Floor, Windsor, Off. Cst Road, Income Tax, Near Vidyanagari, Kalina, Range-10(1), Santacruz (E), Mumbai. Aayakar Bhavan, Church Gate, Mumbai स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aafca5315A (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri J.D. Mistri & Shri Deepak Jain याजस्व की ओर से /Revenue By Shri Deepkant Prasad,Cit-Dr : सुनवाई की तायीख / Date Of Hearing : 15Th October, 2015 घोषणा की तायीख/Date Of Pronouncement : 01.01.2016 आदेश / O R D E R Per R.C.Sharma (A.M.) : This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Dated 27-06-2013, For The Assessment Year 2009-10, In The Matter Of Order Passed Under Section 143(3) Of The I.T. Act. 2. The Following Grounds Have Been Taken By The Assessee: Ground No. I: Want Of Natural Justice 1. On The Facts & In The Circumstances Of The Case & In Law, The Learned Cit(A) Erred In Confirming The Addition Made By The Ao U/S. 68 Despite The Fact That The Remand Report Of The Ao Confirmed That The Appellant Had Satisfied All The Three Tests, Viz: Identity Of P5 Asia Holding Investment (Mauritius) Ltd., (P5 Asia), Financial Capacity Of P5 Asia & Genuineness
For Appellant: Shri J.D. Mistri &
Section 143(3)Section 68
…td. (2011) (333 ITR 119) (Del); CIT vs. Divine Leasing and Finance Ltd. (2007) (299 ITR 268) (Del); CIT vs. Sophia Finance Ltd. (1993) (205 ITR 98) (Del) (FB); CIT vs. Stellar Investment Ltd. (2001) (251 ITR 263) (SC); CIT vs. Winstrall Petrochemicals P Ltd. (330 ITR 603) (Del). 11. On the other hand, it was contended by Ld. CIT-DR that the sum which has been credited in the books of the assessee has been routed by the ultimate fund provider namely Providence Equity Partners, USA through a series of companies based in tax haven countries. In this case, the assessee has not explained as to why the money had to tra…
