Commissioner of Income Tax v. Dolphin Canpack Ltd.

283 ITR 190High Court2006#2927 most cited
41

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2025.

Sections most often in play

Section 131Section 142(1)Section 143(2)Section 143(3)Section 144BSection 250Section 68Section 80G(2)(a)

Issues it is cited on

section 5(2)(b)section 5(2)source of sourcecreditworthiness of the creditorshare capital and share premiumshare application moneysection 250(4)borrowed satisfactionadmission of additional evidenceaddition under section 68tangible materialgenuineness of the transaction

Judgments citing Commissioner of Income Tax v. Dolphin Canpack Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, DELHI vs. M/S. SHRISH ENTERPRISES PRIVATE LIMITED, DELHI

ITA 5315/DEL/2024[2018-19]Status: DisposedITAT Delhi21 Aug 2025AY 2018-19

Bench: Ms. Madhumita Roy & Shri Naveen Chandradcit, Room No. 225E, Cr Vs. M/S Shrish Enterprise Building, 2Nd Floor, Private Limited, Hall No. Ip Estate, 3 & 4, M-27/2, Badli New Delhi - 110002 Industrial Estate, Badli, Delhi – 110042 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aafcs0684N Appellant .. Respondent

For Appellant: Sh. Nitin Gulati, Adv. &For Respondent: Sh. Manish Gupta, Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 68

…t the assessee need not to prove the source of source." P a g e | 12 DCIT Vs. M/s Shrish Enterprise Pvt. Ltd. (AY: 2018-19) To the same effect are the following decisions: • CIT v Antartica Investment (P) Ltd. 262 ITR 493 (Del) • CIT v. Dolphin Canpack Ltd.: 283 ITR 190 (Del.) • CIT v. Iliac Investment (P) Ltd.: 287 ITR 135 (Del.) • CIT v. Oasis Hospitalities P. Ltd: 333 ITR 119 (Del.) • CIT v. Kamdhenu Steel and Alloys Ltd: 361-ITR 220 (Del.) • CIT v. Victor Electodes Ltd.: 329 ITR 271 (Del.) • CIT v. Vacmet Packaging India (P) Ltd.: 367 ITR 217 (All.) • CIT v. Arunanada Textiles P. Ltd: 333 ITR 116 (Kar) • CIT…

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

ITA 1291/DEL/2022[2018-19]Status: HeardITAT Delhi09 Sept 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 143(3)Section 144BSection 144CSection 68

…assessee has duly filed Form PAS 3, confirmation, statement of back of subscriber, copy of PPAN card, copy of IT return etc.  To the similar effect are the following decisions:  Orissa Corporation (P) Limited: 159 ITR 78 (SC)  CIT v. Dolphin Canpack Ltd.: 283 ITR 190 (Del.)  CIT v. Illac Investment (P) Ltd.: 287 ITR 135 (Del.)  CIT v. Oasis Hospitalities P. Ltd: 333 ITR 119 (Del.)  CIT v. Kamdhenu Steel and Alloys Ltd: 361 ITR 220 (Del.)  CIT v. Victor Electodes Ltd.: 329 ITR 271 (Del.)  CIT v. Nipuan Auto (P.) Ltd. 361 ITR 155 (Delhi)  CIT v. Sophia Finance Ltd.: 205 ITR 98 (Del)(FB)  Divine Leasing a…

D.C.I.T., CENTRAL CIRCLE - 1(4), KOLKATA, KOLKATA vs. M/S. WISE INVESTMENT PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

ITA 163/KOL/2023[2012-2013]Status: DisposedITAT Kolkata09 Nov 2023AY 2012-2013

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 163/Kol/2023 Assessment Year: 2012-13 D.C.I.T. Central Circle – 1(4), Kolkata M/S. Wise Investment Pvt. Ltd. Vs 3Rd Floor 5, Govind Chand Dhar Lane Kolkata - 700001 [Pan: Aaacw3141R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Manish Tiwari, Fca Revenue By : Shri Abhijit Kundu, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 26/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 09/11/2023 आदेश/O R D E R Per Dr. Manish Borad: The Above Captioned Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax, Appeals -21, Kolkata, (Hereinafter The “Ld. Cit(A)”) Dt. 26/12/2022, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. Whether On The Facts & Circumstances Of The Case Ld. Cit (A) Is Justified In Deleting Addition Made U/S. 68 Of Rs.32,50,00,000/- Ignoring The Remand Report Dated 20.07.2022 Wherein The Report Categorically Stated That The Share Applicant Company Has No Creditworthiness To Invest In The Assesses Company. 2. Whether On The Facts & Circumstances Of The Case Ld. Cit (A) Was Erroneous As It Had Not Taken Cognizance Of The Fact That The 2

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Abhijit Kundu, CIT D/R
Section 131Section 142(1)Section 143(2)Section 250Section 68

…ion u/s 68 of the Act. Reliance is placed on the following decisions:-  CIT vs. Gobi Textile Ltd. 294 ITR 663  Oasis Hospitalities (P) Ltd. vs. CIT (2011) 333 ITR 119 (Del.)  CIT vs. Lovely Exports Ltd. (2008) 216 CTR 195 (SC)  CIT vs. Dolfin Canpack Ltd. 283 ITR 190 (Delhi)  DCIT vs. Rohini Builders (127 Taxman 523)  Sri Barkha Synthetics Ltd. vs. CIT 283 ITR 377 (Raj.)  CIT vs. Down Town Hospitals Ltd. 267 ITR 439 (Gau)  Sophia Finance Ltd. 205 ITR 98 (Delhi) Full Bench  ITO vs. Neelkanth Finbuild Ltd. (2015) 61 taxmann.com 132  CIT vs. Orissa Corporation (P) Ltd. [159 ITR 78 (SC)]  Balurghat Transpo…

DCIT, CIRCLE- 25(1), NEW DELHI vs. TEPE CONSULTANTS PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 4595/DEL/2018[2010-11]Status: DisposedITAT Delhi17 May 2023AY 2010-11

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Shailesh Gupta, CAFor Respondent: Sh. Rajesh K. Dhanesta, Sr. DR
Section 131Section 68

…the explanation offered is not satisfactory then, the provisions of s. 68 may be invoked. Tepe Consultants Pvt. Ltd. 8. The Court also referred to the earlier Division Bench judgment in the case of CIT vs. Dolphin Canpack Ltd (2006) 204 CTR (Del) 50: (2006) 283 ITR 190 (Del) and quoted the following observation: "………..credit entry relates to the issue of share capital, the ITO is also entitled to examine whether the alleged shareholders do in fact exist or not. Such an inquiry was conducted by the LD. A.O. in the present case. In the course of the said inquiry, the assessee had disclosed to the LD. A.O. not on…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S SNOWSHINE REALTORS PVT.LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1443/BANG/2018[2008-09]Status: DisposedITAT Bangalore28 Oct 2022AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…India Financial Corporation Ltd V. DCIT, Central Circle-6, (xli) New Delhi (2014) 41 Taxmann.com 251 (Delhi-Trib) CIT V. (i) Oasis Hospitalities (P) Ltd, (ii) UP Bone Mills India Ltd, (xlii) (iii) Vijay Powers Generators Ltd CIT V. Dolphin Canpack Ltd (2006) 283 ITR 190 (Delhi) (xliii) CIT and Another V. ASK Brothers Ltd (2011) 333 ITR 111 (Kar) (xliv) CIT V. Value Capital Services (P) Ltd (2008) 307 ITR 334 (Delhi) (xlv) 5.17 The Ld. A.R. finally submitted that in this case the assessee company has proved the identity of the investor with confirmation letters from the investor. Further the genuineness of the t…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1442/BANG/2018[2012-13]Status: DisposedITAT Bangalore28 Oct 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…India Financial Corporation Ltd V. DCIT, Central Circle-6, (xli) New Delhi (2014) 41 Taxmann.com 251 (Delhi-Trib) CIT V. (i) Oasis Hospitalities (P) Ltd, (ii) UP Bone Mills India Ltd, (xlii) (iii) Vijay Powers Generators Ltd CIT V. Dolphin Canpack Ltd (2006) 283 ITR 190 (Delhi) (xliii) CIT and Another V. ASK Brothers Ltd (2011) 333 ITR 111 (Kar) (xliv) CIT V. Value Capital Services (P) Ltd (2008) 307 ITR 334 (Delhi) (xlv) 5.17 The Ld. A.R. finally submitted that in this case the assessee company has proved the identity of the investor with confirmation letters from the investor. Further the genuineness of the t…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1-(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD., BENGALURU

In the result, the revenue appeals in ITA Nos

ITA 1441/BANG/2018[2009-10]Status: DisposedITAT Bangalore28 Oct 2022AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

For Appellant: Shri Dilip, Junior Standing Counsel forFor Respondent: Dept
Section 147

…India Financial Corporation Ltd V. DCIT, Central Circle-6, (xli) New Delhi (2014) 41 Taxmann.com 251 (Delhi-Trib) CIT V. (i) Oasis Hospitalities (P) Ltd, (ii) UP Bone Mills India Ltd, (xlii) (iii) Vijay Powers Generators Ltd CIT V. Dolphin Canpack Ltd (2006) 283 ITR 190 (Delhi) (xliii) CIT and Another V. ASK Brothers Ltd (2011) 333 ITR 111 (Kar) (xliv) CIT V. Value Capital Services (P) Ltd (2008) 307 ITR 334 (Delhi) (xlv) 5.17 The Ld. A.R. finally submitted that in this case the assessee company has proved the identity of the investor with confirmation letters from the investor. Further the genuineness of the t…

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

…Oasis Hospitalities (P) Ltd. [333 ITR 119] [Del]  CIT v/s KC Fibres Ltd. [332 ITR 461] [Del]  CIT v/s Value Capital Services (P) Ltd. [307 ITR 334] [Del]  CIT v. Kamdhenu Steel & Alloys Ltd. (2012) 361 ITR 220 (Delhi)  CIT v/s. Dolphin Canpack Ltd. (2006) 283 ITR 190 (Delhi)  CIT vs. Divine Leasing & Finance Ltd. (2006) 74 CCH 0936 (HC.) (Delhi)  Commissioner of Income Tax v/s Fair Finvest Ltd. (2013) 357 ITR 146 (Delhi)  Pr. CIT v/s Rakam Money Matters Pvt. Ltd. [ITA No. 778/2015] (Delhi)  Pr. CIT – 5 v/s Laxman Industrial Resources Ltd. [ITA 169/2017] (Delhi)  CIT vs. Dwarkadish Investment (P) Ltd. [33…

ACIT, NEW DELHI vs. M/S. BRINDAVAN AGENCIES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 5272/DEL/2016[2012-13]Status: DisposedITAT Delhi23 Dec 2020AY 2012-13

Bench: Shri H.S. Sidhu & Shri Anil Chaturvedi[Assessment Year: 2012-13]

For Appellant: Sh. Raj Kr. Gupta, CAFor Respondent: Sh. Prakash Dube, Sr. DR
Section 143(2)Section 143(3)Section 68

…yzing the provisions of the Companies Act, Section 68 of the I T Act and the judgments delivered in the cases of CIT vs. Divine Leasing & Finance Ltd. 299 ITR 268 (Del), CIT vs. Sophia Finance Ltd. (1994) 205 ITR 98 4 (Del) (FB), CIT vs. Dolphin Canpack Ltd. 283 ITR 190, CIT vs. Lovely Exports Pvt. Ltd. 216 CTR 195, it was held that the initial burden is upon the assessee to explain the nature and source of share application money received by it. The Court further observed that in case the investor / shareholder is an individual, some documents will have to be filed or the said shareholder will have to be produc…

ASST CIT CEN CIR 3, THANE vs. CREDENTIAL EQUITIES P. LTD, BHAYANDER

In the result, the appeal of Revenue dismissed

ITA 3808/MUM/2017[2009-10]Status: DisposedITAT Mumbai28 Nov 2019AY 2009-10

Bench: Shri R.C. Sharma & Shri Pawan Singh: A.Y : 2009-10

For Appellant: Shri Rakesh JoshiFor Respondent: Shri Awungshi Gimson
Section 131Section 132Section 133(6)Section 139(1)Section 143(3)Section 68

…tion money is received by the Assessee company from bogus shareholders, whose names are given to the AO, then the Department is free to proceed to reopen their individual assessments in accordance with law." 31. Likewise in CIT v. Dolphin Canpack Ltd. [2006] 283 ITR 190 (Delhi) the Court held no substantial question of law arose since the ITAT found that the Assessee had disclosed to the AO during the course of enquiry "not only the names and the particulars of the subscribers of the shares but also their bank accounts and the permanent account numbers issued by the income tax department. Superadded to all this…

SHAIKSHANIK KEISHANK SAMAJ,GHAZIABAD vs. ADDL. CIT, GHAZIABAD

In the result, all the appeal of the assessee is dismissed

ITA 650/DEL/2012[2008-09]Status: DisposedITAT Delhi26 Sept 2019AY 2008-09
For Appellant: Sh. Praveen Singhal, CA &For Respondent: Sh. N. K. Bansal, Sr. DR
Section 11Section 115BSection 12Section 12ASection 143(3)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 650/Del/2012 : Asstt. Year : 2008-09 Shaikshanik Krishank Samaj, Vs Additional Commissioner of A-202, Euro Apartment, Income Tax, Range-II, Sector-4, Rajinder Nagar, Ghaziabad Ghaziabad (APPELLANT) (RESPONDENT) PAN No. AADAS1074L Assessee by : Sh. Praveen Singhal, CA & Ms. Smita Goel, CA Revenue by : Sh. N. K. Bansal, Sr. DR Date of Hearing: 18.09.2019 Date of Pronouncement: 26.09.2019 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeal has been f…

DCIT, FARIDABAD vs. M/S LAKSHAT CONSTRUCTIONS P.LTD.,, FARIDABAD

ITA 2787/DEL/2016[2011-12]Status: DisposedITAT Delhi29 Jul 2019AY 2011-12

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri D.C. Garg, CAFor Respondent: Ms. Ashima Neb, Senior DR
Section 143Section 68

…ies; that the ld. CIT (A) has confirmed the addition on the basis of surmises and relied upon the decision rendered by Hon’ble Apex Court in case of CIT vs. Lovely Exports Pvt. Ltd. 315 ITR 5 and also relied upon the decisions in CIT Vs Dolphin Canpack Ltd. [283 ITR 190], CIT Vs Winstral Petrochemicals Pvt 12 ITA No.2262/Del./2016 ITA No.2787/Del./2016 Ltd.[330 ITR 603], CIT Vs Pranav Foundation Ltd. [117 ITR 227] , CIT Vs Dataware Pvt Ltd., Umbrella Projects Pvt. Ltd. Vs ITO (ITA No. 5955-Del-2014, date of order 23.02.2018) and Moti Adhesive Pvt. Ltd. vs ITO (ITA No. 3133-Del-2018, date of order 25.06.2018)…

M/S. LAKSHIT CONSTRUCTION PVT. LTD.,FARIDABAD vs. ACIT, FARIDABAD

ITA 2262/DEL/2016[2011-12]Status: DisposedITAT Delhi29 Jul 2019AY 2011-12

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri D.C. Garg, CAFor Respondent: Ms. Ashima Neb, Senior DR
Section 143Section 68

…ies; that the ld. CIT (A) has confirmed the addition on the basis of surmises and relied upon the decision rendered by Hon’ble Apex Court in case of CIT vs. Lovely Exports Pvt. Ltd. 315 ITR 5 and also relied upon the decisions in CIT Vs Dolphin Canpack Ltd. [283 ITR 190], CIT Vs Winstral Petrochemicals Pvt 12 ITA No.2262/Del./2016 ITA No.2787/Del./2016 Ltd.[330 ITR 603], CIT Vs Pranav Foundation Ltd. [117 ITR 227] , CIT Vs Dataware Pvt Ltd., Umbrella Projects Pvt. Ltd. Vs ITO (ITA No. 5955-Del-2014, date of order 23.02.2018) and Moti Adhesive Pvt. Ltd. vs ITO (ITA No. 3133-Del-2018, date of order 25.06.2018)…

DCIT, NEW DELHI vs. M/S. BHAIJEE COMMODITIES PVT. LTD., NEW DELHI

In the result, the Appeal of the Revenue stands dismissed

ITA 5323/DEL/2015[2012-13]Status: DisposedITAT Delhi13 Jun 2019AY 2012-13

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumaray 2012-13

For Appellant: Sh. R.S. Singhvi, Adv. &For Respondent: Sh. N.K. Bansal, Sr. DR
Section 131Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 14ASection 68

…ing the provisions of the Companies Act, Section 68 of the Act and the judgments delivered in the cases of CIT vs. Divine Leasing and Finance Ltd. 299 ITR 268 (Del.); CIT vs. Sophia Finance Ltd. (1994) 205 ITR 98 (Del.) (FB) and CIT vs. Dolphin Canpack Ltd. 283 ITR 190 CIT vs. Lovely Exports Pvt. Ltd. 16 CTR 195, it was rightly held that the initial burden is upon the assessee to explain the nature and source of share application money received by it. The Court further Observed that case the investor, shareholder is an individual, some documents will have to be filed or the said shareholder will have to be p…

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…

M/S BASSI STEELS LTD.,MOHALI vs. DCIT, MOHALI

ITA 96/CHANDI/2016[2004-05]Status: DisposedITAT Chandigarh27 Mar 2018AY 2004-05

Bench: Shri. Sanjay Garg, Judicial, Member & Dr. B.R.R. Kumarassessment Year: 2005-06

For Appellant: Sh. Ashok GoelFor Respondent: Smt. C. Chandrakanta
Section 148Section 68

…T Vs. Ganeshwari Metal (P) Ltd. 214 Taxman 423 4. CIT Vs. Five Vision Promoters (P) Ltd. Hon’ble Delhi High Court 5. CIT Vs. Vrindavan Farms(P) Ltd. Hon’ble Delhi High Court 6. CIT Vs. First Point Finance Ltd. 286 ITR 477 7. CIT Vs. LLIACE Investment (P) Ltd. 287 ITR 135 6. In the paper book he has submitted the copies of share application form, copy of incorporation, copy of ITR first page bank statement pertaining to these two companies. 7. The Ld. AR relied on the judgment in the case of Kisco Castings Pvt. Ltd. 152 TTJ 629 on the proposition that mere assertions are not enough to demolish the written docume…

M/S. UMBRELLA PROJECTS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, the appeal of the assessee in ITA No

ITA 5955/DEL/2014[2010-11]Status: DisposedITAT Delhi23 Feb 2018AY 2010-11

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2010-11] Umbrella Projects Pvt. Ltd Vs. The I.T.O Gh – 9/5, Paschim Vihar Ward 18(1) New Delhi New Delhi Pan : Aatpa 0581 F [Appellant] [Respondent] Date Of Hearing : 23.01.2018 Date Of Pronouncement : 23.02.2018

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Amit Jain, Sr. DR
Section 133(6)

…tion is taken by the Assessing Officer to verify or conduct an enquiry into the particulars about the creditors furnished by the assessee, including their income-tax file numbers. In the same category fall cases decided by this court in Dolphin Canpack (2006) 283 ITR 190, CIT v Makhni and Tyagi P. Ltd. (2004) 267 ITR 433, CIT v Antartica Investment P. Ltd. (2003) 262 ITR 493 and CIT v Achal Investment Ltd. (2004) 268 ITR 211. To put it simply, in these cases the decision was based on the fundamental rule of law that evidence or material adduced by the assessee cannot be thrown out without any enquiry. The ratio d…

M/S. GLOBUS PROJECTS PVT. LTD.,NEW DELHI vs. DCIT, FARIDABAD

In the result all the three appeals filed by the assesses are allowed

ITA 2491/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Nov 2017AY 2012-13

Bench: Shri H.S.Sidhu & Shri Prashant Maharishim/S. Globus Projects Private Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech Hospitalities Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech India Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent)

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Smt Aparna Karan, CIT DR
Section 131Section 132Section 133ASection 153ASection 153A(1)(b)Section 153CSection 263

…undisclosed income of the assessee company if certain shareholders were bogus and money was provided by some other persons, reopening of assessment of such persons would be sensible”. Hon‟ble High court of Delhi has held in CIT VS. DOLPHIN CANPACK ITD (2006) 283 ITR 190{(2000) 283 ITR 190} that “Tribunal, while observing that complete details i mg confirmations details of bank account, PAN of subscribers to the shares ..ere furnished by the assessee and payments were made by cheques, was jstified in deleting addition under section 68. The Hon‟ble High Court of Rajasthan in the case of ARAVALI TRADING CO. VS. INC…

M/S. BESTECH INDIA PVT. LTD.,NEW DELHI vs. DCIT, FARIDABAD

In the result all the three appeals filed by the assesses are allowed

ITA 2485/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Nov 2017AY 2012-13

Bench: Shri H.S.Sidhu & Shri Prashant Maharishim/S. Globus Projects Private Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan:Aaccg5308E (Appellant) (Respondent) Bestech Hospitalities Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan: Aaccb2540F (Appellant) (Respondent) Bestech India Pvt. Ltd, Vs. Dcit, Unit No. 5D, 5Th Floor, Assets Aria Central Circle-1, Signature Offices, Jw Marriott Hotel, Faridabad Asset Area-4, Delhi Aerocity Hospitality District, New Delhi Pan: Aabcb6551B (Appellant) (Respondent)

For Appellant: Shri Raj Kumar Gupta, CAFor Respondent: Smt Aparna Karan, CIT DR
Section 131Section 132Section 133ASection 153ASection 153A(1)(b)Section 153CSection 263

…undisclosed income of the assessee company if certain shareholders were bogus and money was provided by some other persons, reopening of assessment of such persons would be sensible”. Hon‟ble High court of Delhi has held in CIT VS. DOLPHIN CANPACK ITD (2006) 283 ITR 190{(2000) 283 ITR 190} that “Tribunal, while observing that complete details i mg confirmations details of bank account, PAN of subscribers to the shares ..ere furnished by the assessee and payments were made by cheques, was jstified in deleting addition under section 68. The Hon‟ble High Court of Rajasthan in the case of ARAVALI TRADING CO. VS. INC…

BLUE DIAMOND INFRASTRUCTURE & REALTY P.LTD,NAVI MUMBAI vs. ACIT RG 10(3), MUMBAI

In the result, both the appeals are allowed for statistical purposes

ITA 6176/MUM/2011[2008-09]Status: DisposedITAT Mumbai11 Jan 2017AY 2008-09

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)

…of the parties, addition u/s 68 cannot be made 1. CIT vs. Lovely Exports (F) ltd. (21 6 ITR 195) (SC) 2. CIT vs. Creative World Telefilms Ltd. (ITA No. 2182 of 2009) 3. CIT vs. Oasis Hospitalities Pvt. Ltd. 333 ITR 119 (Del.) 4. CIT vs. Dolphin Canpack ltd. (283 ITR 190) (Del) 5. CIT vs. Dwarkadhish Investment (P.) ltd (194 Taxman 43) (Del. HC) 6. CIT Vs. Jay Dee Securities & Finance ltd. 350 lTR 220 (All. HC) 7. Madhuri Investments Pvt. Ltd. vs. ACIT (ITA No. 110 of 2004) (Kar. HC) 8. CIT vs. Arunananda Textiles Pvt. I td (2011) 333 ITR II 6 (Kar. HC) 9. CIT vs. Shree Barkha Synthetics Ltd. (270 FIR 477) (Raj.…

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