How many judgments cite CIT v. Youth Construction Pvt. Ltd.?

40 judgments on BharatTax cite CIT v. Youth Construction Pvt. Ltd. (357 ITR 197), spanning 2017 to 2025.

Which sections of the Income Tax Act does CIT v. Youth Construction Pvt. Ltd. come up under?

It is most often cited in judgments turning on Section 143(2), Section 143(3), Section 68, Section 133(6), Section 147, Section 1961.

CIT v. Youth Construction Pvt. Ltd.

357 ITR 197High Court2013#2946 most cited

What is CIT v. Youth Construction Pvt. Ltd. authority for?

For share application money, proof of identity alone is insufficient; the assessee must also establish the genuineness and creditworthiness of the subscriber. The onus is on the assessee to prove these three aspects.

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Youth Construction Pvt. Ltd. · section 68 · share application money · genuineness · creditworthiness · identity · onus on assessee · cash credit

Sections most often in play

Section 143(2)Section 143(3)Section 68 Section 133(6)Section 147 Section 1961 Section 142(1)Section 148

Issues it is cited on

public servant preponderance of probability share application money creditworthiness of the creditor share capital and share premium live link entry operator addition under section 68 borrowed satisfaction genuineness of the transaction income escaping assessment addition u/s 68

Judgments citing CIT v. Youth Construction Pvt. Ltd.

VIRAJ SOFTWARE PVT. LTD.,DELHI vs. ITO,WARD-26(4), DELHI

Appeal is dismissed

ITA 1084/DEL/2025[2012-13]Status: DisposedITAT Delhi03 Dec 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2012-13 M/S. Viraj Software Pvt. Vs. Income Tax Officer, Ltd., Ward-26(4), 28, Raja Garden, New Delhi New Delhi Pan: Aaccv5229M (Appellant) (Respondent) Assessee By None Department By Ms. Ankush Kalra, Sr. Dr

Section 142(1)Section 143(1)Section 143(2)Section 144Section 147Section 148Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘E’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 M/s. Viraj Software Pvt. Vs. Income Tax Officer, Ltd., Ward-26(4), 28, Raja Garden, New Delhi New Delhi PAN: AACCV5229M (Appellant) (Respondent) Assessee by None Department by Ms. Ankush Kalra, Sr. DR Date of hearing 03.12.2025 Date of pronouncement 03.12.2025 ORDER PER SATBEER SINGH GODARA, JM This assessee’s appeal for assessment year 2012-13, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre…

RAJESH KAPOOR,DELHI vs. ACIT, CIRCLE- 47(1), DELHI

Appeal is partly allowed

ITA 1452/DEL/2025[2012-13]Status: DisposedITAT Delhi01 Dec 2025AY 2012-13

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

Section 131Section 143(3)Section 144Section 147

…ompany and not a genuine investor. The SLP against the ruling of the Hon'ble High Court has been dismissed by the Hon'ble Supreme Court (2015) 230 Taxman 268. Further, it has been held by the Hon'ble Delhi High Court in the case of Youth Construction Pvt. Ld. 357 ITR 197 (Delhi) that mere proof of identity without genuineness and creditworthiness is not enough for share application. Further, it has been held by the Hon'ble Delhi High Court in the case of N.R. Portfolio Pvt. Ltd. 87 DTR 0162 (Del) that the onus to prove the three factum is on the assessee as the facts are within his knowledge. Mere furnishing name…

LUMINANT INVESTMENTS LTD ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -40, MUMBAI

In the result, the appeal of the assessee is dismissed

ITA 4356/MUM/2024[2006-07]Status: DisposedITAT Mumbai31 Jul 2025AY 2006-07

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2006-07 Luminant Investments Ltd., Dy. Cit Central Circle 40, (Formerly Known As Luminant Aayakar Bhavan, M.K. Road, Vs. Investment Pvt. Ltd.) Mumbai-400020. 121, Radha Bhuvan, 1St Floor, Nagindas Master Road, Fort, Mumbai-400023. Pan No. Aaacl 0834 A Appellant Respondent

For Appellant: Mr. Rajesh Kumar Yadav, CIT-DRFor Respondent: None

Section 68

…said court, This in fact is followed by a series of a decision by the said court, as in CIT vs. Titan Securities Ltd. [2013] 35 as in CIT vs. Titan Securities Ltd. [2013] 357 ITR 184 (Del) and CIT 7 ITR 184 (Del) and CIT vs. Youth Construction P. Ltd. [2013] 357 ITR 197 (Del). We may vs. Youth Construction P. Ltd. [2013] 357 ITR 197 (Del). We may vs. Youth Construction P. Ltd. [2013] 357 ITR 197 (Del). We may reproduce for the sake of clarity the observations by the hon'ble reproduce for the sake of clarity the observations by the hon'ble reproduce for the sake of clarity the observations by the hon'ble court in…

MAHESH DYEING AND PRINTING MILLS PVT. LTD.,SURAT vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE -1(1)(1), SURAT

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

ITA 281/SRT/2023[2014-15]Status: DisposedITAT Surat11 Jun 2025AY 2014-15

Bench: Ms Suchitra Raghunath Kamble & Shri Bijayananda Prusethआयकर अपील सं./Ita No.281/Srt/2023 Assessment Year: (2014-15) (Hybrid Hearing) Mahesh Dyeing & Printing Mills Vs. Dcit, Pvt. Ltd., Circle – 1(1)(1), 104, 105, 107 Shivanand Nagar Surat Ind. Estate, Village – Tati Thaiya, Surat – 394221, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aabcm9282E (Appellant) (Respondent) Appellant By Shri Rasesh Shah, Ca Respondent By Shri Ajay Uke, Sr. Dr Date Of Hearing 02/06/2025 Date Of Pronouncement 11/06/2025

Section 250Section 68

…see has miserably failed to do so. The CIT(A) relied upon the decisions in cases of Pawankumar M. Sanghavi vs. ITO, 81 taxmann.com 308 (Ahd – Trib.), CIT vs. Gagandeep Infrastructure Pvt. Ltd., 80 taxmann.com 172 (Bom.), PCIT vs. Youth Construction Pvt. Ltd., 357 ITR 197 (Del). For similar reasons, he also upheld unsecured loans of Rs.35,75,000/- received from Shri Dhiraj T. Rathi, one of the shareholders of the assessee-company. 5. Aggrieved by the order of CIT(A), the assessee filed appeal before the Tribunal. The learned Authorized Representative (ld. AR) of the assessee at the ITA No.281/SRT/2023/AY.2014-15…

NAVANSH VINIMAY PVT. LTD.,KOLKATA vs. I.T.O., WARD - 8(2), KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 724/KOL/2022[2012-2013]Status: DisposedITAT Kolkata30 May 2025AY 2012-2013

Bench: Shri George Mathan & Shri Rakesh Mishra

Section 142(1)Section 143Section 143(2)Section 143(3)Section 147Section 148Section 151Section 250

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA श्री जॉजज माथान, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 724/KOL/2022 Assessment Year: 2012-13 Navansh Vinimay Pvt. Ltd. I.T.O., Ward-8(2), Kolkata Vs. (Appellant) (Respondent) PAN: AACCN9210E Appearances: Assessee represented by : None. Department represented by : Yogesh Mehare, Sr. DR. Date of concluding the hearing : March 5th, 2025 Date of pronouncing the order : May 30th, 2025 ORDER PER…

SRINIVAS CHEMMALA,WARANGAL vs. ITO., WARD-1, WARANGAL

ITA 164/HYD/2025[2017-18]Status: DisposedITAT Hyderabad14 May 2025AY 2017-18

Bench: Us:

For Appellant: Ms.S.Sandhya, ARFor Respondent: Shri Rakesh Chintagumpula

Section 133(6)Section 143(2)Section 143(3)Section 69A

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad श्री मंजूनाथ जी.,माननीय लेखा सदस्य एवं श्री रवीश सूद, माननीय न्याययक सदस्य SHRI MANJUNATHA G., HON’BLE ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, HON’BLE JUDICIAL MEMBER आ.अपी.सं /ITA No.164/Hyd/2025 (यनर्ाारण वर्ा/Assessment Year: 2017-18) Srinivas Chemmala Vs. Income Tax Officer Warangal Ward-1 PAN: AROPC7116L Warangal (Appellant) (Respondent) यनर्ााररती द्वारा/Assessee by: Ms.S.Sandhya, AR राजस् व द्वारा/Revenue by: Shri Rakesh Chintagumpula, DR सुनवाई की तारीख/Date of Hearing: 08/05/2025 घोर्णा की तारीख/…

RANJEET SINGH,PATNA vs. ITO, WARD- 5 (5), PATNA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 304/PAT/2024[2017-18]Status: DisposedITAT Patna17 Mar 2025AY 2017-18

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

Section 147Section 148Section 250Section 250(2)Section 69A

…आयकर अपीलीय अधिकरण पटना पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL PATNA BENCH AT KOLKATA [वर्चुअल कोटु] [Virtual Court] श्री संजय शमाु, न्याधयक सदस्य एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI SONJOY SARMA, JUDICIAL MEMBER & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 304/PAT/2024 Assessment Year: 2017-18 Ranjeet Singh ITO, Ward-5(5), Patna Vs. (Appellant) (Respondent) PAN: BXUPS0267H Appearances: Assessee represented by : A. K. Rastogi, Adv. Department represented by : Ashwani Kr. Singal, JCIT. Date of concluding the hearing : December 17th, 2024 Date of pronouncing the order : Marc…

MILI MARKETING PVT LTD.,NEW DELHI vs. ITO,WARD-16(4), NEW DELHI

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

ITA 2319/DEL/2023[2016-17]Status: DisposedITAT Delhi12 Dec 2024AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumar Us[Assessment Year : 2016-17] M/S. Mili Marketing Pvt.Ltd., Vs Ito, H-108, Connaught Circus, Ward-16(4), New Delhi-110001. New Delhi. Pan-Aabcm7097H Appellant Respondent Appellant By Shri Ved Jain, Adv & Shri Aman Garg, Ca Respondent By Ms. Smita Singh, Sr.Dr Date Of Hearing 12.09.2024 Date Of Pronouncement 12.12.2024

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

…ITA No.2319/Del/2023 Mili Marketing Pvt.Ltd. vs ITO IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “E” BENCH: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI YOGESH KUMAR US, JUDICIAL MEMBER [Assessment Year : 2016-17] M/s. Mili Marketing Pvt.Ltd., vs ITO, H-108, Connaught Circus, Ward-16(4), New Delhi-110001. New Delhi. PAN-AABCM7097H APPELLANT RESPONDENT Appellant by Shri Ved Jain, Adv & Shri Aman Garg, CA Respondent by Ms. Smita Singh, Sr.DR Date of Hearing 12.09.2024 Date of Pronouncement 12.12.2024 ORDER PER PRADIP KUMAR KEDIA-A.M.: The captioned appeal has been filed at the instance of the a…

PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs. HERITAGE BEVERAGES PVT. LTD.

ITA/12/2024HC Delhi09 Aug 2024

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE RAVINDER DUDEJA

Section 132(4)Section 68

…Ld. ITAT has erred in holding that share capital/premium received was explained ignoring the judgments in the cases of NRA Iron and Steel Pvt. Ltd. dated 05.03.2019, Navodaya Castlers Pvt. Ltd. (Delhi) in ITA No. 320/2012 and Youth Construction Pvt. Ltd. 357 ITR 197 and CIT Vs. NR Portfolio Pvt. Ltd. (Delhi) in ITA No. 1018/2011? D. Whether on the facts and circumstances of the case, the Ld. ITAT is correct in deleting the addition completely ignoring the evidentiary value of statement under Section 132(4) of the Act of the director of the Kandhari group companies, Shri Pradeep Kumar Shastri and conf…

M/S. QNS CASTINGS PVT. LTD.,MUZAFFARNAGAR vs. ITO, MUZAFFARNAGAR

In the result, the appeal of the assessee is dismissed

ITA 3554/DEL/2017[2012-13]Status: DisposedITAT Delhi26 Jul 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Avdhesh Kumar Mishra

Section 133(6)Section 143(3)Section 250(4)Section 68

…subscriber was a paper company and not a genuine investor. The SLP against the ruling of the Hon'ble High Court has been dismissed by the Hon'ble Supreme Court. Further, it has been held by Hon'ble Delhi High Court in the case of Youth Construction Pvt. Ltd. 357 ITR 197 (Delhi) that mere proof of identity without genuineness and creditworthiness is not enough for share application. Further, it has 6 QNS Castings Pvt. Ltd. been held by the Hon'ble Delhi High Court in the case of N.R. Portfolio Pvt. Ltd. 87 DTR 0162 (Del) that the onus to prove the three factum is on the assessee as the facts are within his knowl…

MUNIRABANU MOHAMMED SAFI SHAIKH,VADODARA vs. THE INCOME TAX OFFICER, WARD-3(1)(1), VADODARA

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

ITA 680/AHD/2023[2011-12]Status: DisposedITAT Ahmedabad20 May 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Jigar Adhiyaru, A.RFor Respondent: Shri Yogesh Mishra, Sr. DR

Section 142(1)Section 148Section 68Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.680/Ahd/2023 (Assessment Year: 2011-12) Munirabanu Mohammed Safi Shaikh, Vs. Income Tax Officer, 201, Shyamwala Complex, Panigate, Ward-3(1)(1), Baroda, Gujarat-390017 Vadodara [PAN No.ATRPS3670E] (Appellant) .. (Respondent) Appellant by : Shri Jigar Adhiyaru, A.R. Respondent by: Shri Yogesh Mishra, Sr. DR Date of Hearing 01.05.2024 Date of Pronouncement 20 .05.2024 O R D E R PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the…

PRINCIPAL COMMISSIONER OF INCOME TAX-1,BHUBANESWAR vs. KUNTALA MOHAPATRA

ITA/10/2024HC Orissa15 Apr 2024

Bench: DR. JUSTICE B.R.SARANGI,MR. JUSTICE GOURISHANKAR SATAPATHY

Section 132(4)Section 68

SNR ELECTRONICS LTD,NEW DELHI vs. ITO WARD - 24(1), NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 937/DEL/2020[2009-10]Status: DisposedITAT Delhi28 Feb 2024AY 2009-10

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: NoneFor Respondent: Ms. Deepti Chandola, Sr. DR

Section 143Section 147Section 148Section 151Section 292CSection 68Section 69C

…ferent occasions, appellant failed to produce any of the directors of any of the aforesaid creditor companies to prove their physical existence. Similar view has been taken by Hon’ble jurisdictional High Court in the case CIT vs. Youth Construction Pvt. Ltd., 357 ITR 197 and CIT vs. Nipun Builders and Developers Pvt. Ltd., 350 ITR 407, wherein, it has been held that onus is on assessee to prove the identity of share applicants, failing which it has to be concluded that the 14 SNR Electronics Ltd. assessee company has introduced its own money through non- existing companies using the banking channels in the shape…

CREATIVE REALMART PVT. LTD.,JAIPUR vs. ITO, WARD-3(5), JAIPUR, JAIPUR

ITA 599/JPR/2023[2013-14]Status: DisposedITAT Jaipur04 Jan 2024AY 2013-14

For Appellant: Sh. P.C. Parwal (CA)For Respondent: Sh. A.S. Nehra (Addl.CIT)

Section 133ASection 143(1)Section 144Section 147Section 148Section 68

…आयकर अपीलीय अधिकरण, जयपुर न्यायपीठ, जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, “A” JAIPUR श्री संदीप गोसाई, न्यायिक सदस्य एवं श्री राठौड कमलेश जयंतभाई, लेखा सदस्य के समक्ष BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं./ITA No. 599/JPR/2023 निर्धारण वर्ष / Assessment Year : 2013-14 Creative Realmart Pvt. Ltd. 67, Shivraj Niketan Colony, NR Vaishali Nagar, Jaipur. बनाम Vs. ITO, Ward-3(5), Jaipur स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AADCC 1019 P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निधर्धारिती की ओर से / Assessee by: Sh. P.C. Parwal (CA) राजस्व की ओर…

RUKMANI JEWELLERS PRIVATE LIMITED,JAIPUR vs. DCIT CIR.-4 JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 539/JPR/2023[2017-18]Status: DisposedITAT Jaipur20 Dec 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Shrawan Kumar Gupta (Adv.)For Respondent: Shri A. S. Nehra (Addl. CIT) a

Section 115BSection 143(2)Section 143(3)Section 145(3)Section 234ASection 68

…ase laws in favour of revenue. The copies of same are submitted herewith in duplicate alongwith my written submission. 1. Hon'ble Delhi High Court held in the context of issuance of share capital and in the case of PCIT Vs Youth Construction Pvt. Ltd. [(2013) 357 ITR 197 (Del)]" it involves three ingredients, namely, the proof regarding the identity of the applicants, their creditworthiness to purchase the shares and the genuineness of the transaction as a whole". This approach has been adopted by Hon'ble Court above all along. (Page No. 1 to 6) 2. Hon'ble Calcutta High Court in the case of CIT vs. United Commerc…

NEW LEAF HOME P.LTD,FARIDABAD vs. ITO, WARD-18(2), NEW DELHI

In the result, the appeal is treated as partly allowed for statistical purposes

ITA 2485/DEL/2018[2014-15]Status: DisposedITAT Delhi21 Nov 2023AY 2014-15

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2014-15 New Leaf Home P. Ltd. Vs. Ito, Ward-18(2) House No. 352, New Delhi. Sector-21 D, Nit Faridabad, Near Jiva Public School, Faridabad, Haryana, Pin : 121001 Pan Aadcn7291C (Appellant) (Respondent)

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Ms. Anita Meena, Sr.DR

Section 68

…Despite of asking by AO to produce the creditors, it falled to produce them. The aforesald view is supported in the other decisions also of Hon'ble Jurisdictional High Court. Hon'ble jurisdictional High Court in the case CIT vs. Youth Construction Pvt. Ltd., 357 ITR 197 and CIT vs. Nipun Bullders and Developers Pvt. Ltd., 350 ITR 407, has held that onus is on assessee to prove the identity of share applicants, failing which it has to be concluded that the assessee company has Introduced its own money through non-existing companies using the banking channels in the shape of share application money. In view of abo…

GIRDHARI LAL MEENA,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

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

ITA 118/JPR/2023[2017-18]Status: DisposedITAT Jaipur05 Oct 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S. K. Gogra (C.A.)For Respondent: Sh. Anup Singh (Addl. CIT) a

Section 115BSection 139(1)Section 143(2)Section 143(3)Section 144(1)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. No. 118/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2017-18 Mr. Girdhari Lal Meena cuke ITO, 59, Pashupati Nath Nagar, Vs. NFAC, Delhi Shyopur, Sanganer, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AIMPM 8651 R vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri S. K. Gogra (C.A.) jktLo dh vksj ls@ Revenue…

NS PAPERS LTD.,MUZAFFARNAGAR vs. ACIT, CIRCLE-2, MUZAFFARNAGAR

In the result, the appeal of the assessee stands dismissed

ITA 4200/DEL/2018[2014-15]Status: DisposedITAT Delhi29 Aug 2022AY 2014-15

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasad[Assessment Year: 2014-15]

Section 133(6)Section 143(3)Section 234BSection 68

…subscriber was a paper company and not a genuine investor. The SLP against the ruling of the Hon’ble High Court has been dismissed by the Hon’ble Supreme Court. Further, it has been held by Hon’ble Delhi High Court in the case of Youth Construction Pvt. Ltd. 357 ITR 197 (Delhi) that mere proof of identity without genuineness and creditworthiness is not enough for share application. Further, it has been held by the Hon’ble Delhi High Court in the case of N.R. Portfolio Pvt. Ltd. 87 DTR 0162 (Del.) that the onus to prove the three factum is on the assessee as the facts are within his knowledge. Mere furnishing nam…

POTENT FOODS PRIVATE LIMTED,FARIDABAD vs. ITO WARD-2(1), FARIDABAD

In the result, appeal of the Assessee is allowed

ITA 104/DEL/2021[2016-17]Status: DisposedITAT Delhi05 May 2022AY 2016-17

Bench: Shri R.K. Panda

For Appellant: Shri Shyam SunderFor Respondent: Shri Om Prakash, Sr. DR

Section 143(1)Section 68

…r company and not a genuine investor. The SLP against the ruling of the Hon'ble High Court has been dismissed by the Hon'ble Supreme Court (2015) 230 Taxman 268. Further, it has been held by Hon'ble Delhi High Court in the case of Youth Construction Pvt. Ltd. 357 ITR 197 (Delhi) that mere proof of identity without genuineness and creditworthiness is not enough for share application. Further, it has been held by the Hon'ble Delhi High Court in the case of N.R. Portfolio Pvt. Ltd. 87 DTR 0162 (Del) that the onus to prove the three factum is on the assessee as the facts are within his knowledge. Mere furnishing name…

SURYA MANUFACTURING P.LTD,NEW DELHI vs. DCIT, CIRCLE-24(2), NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 6014/DEL/2017[2014-15]Status: HeardITAT Delhi15 Mar 2022AY 2014-15

Bench: Sh. Saktijit Deydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6014/Del/2017 : Asstt. Year : 2014-15 M/S Surya Manufacturing Pvt. Ltd. Vs Dcit, 2937/3, Chuna Mandi, 1St Floor, Circle-24(2), Paharganj, New Delhi-110055 New Delhi (Appellant) (Respondent) Pan No. Aaccs2412B Assessee By : None Revenue By : Sh. Umesh Takyar, Sr. Dr Date Of Hearing: 09.03.2022 Date Of Pronouncement: 15.03.2022

For Appellant: NoneFor Respondent: Sh. Umesh Takyar, Sr. DR

Section 131(1)(d)Section 143(2)Section 68

…n 68 are not proved or not satisfied, one could reasonably come to the conclusion that monies emanated from the coffers of the assessee company. Similar view has been taken by Hon'ble jurisdictional High Court in the case CIT vs. Youth Construction Pvt. Ltd., 357 ITR 197 and CIT vs. Nipun Builders and Developers Pvt. Ltd., 350 ITR 407, wherein, it has been held that onus is on assessee to prove the identity of share applicants, failing which it has to be concluded that the assessee company has introduced its own money through non- existing companies using the banking channels in the shape of share application mon…

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