Commissioner of Income Tax v. Nova Promoters and Finlease (P) Ltd.

342 ITR 169High Court2012#87 most cited

What is Commissioner of Income Tax v. Nova Promoters and Finlease (P) Ltd. authority for?

To make an addition under Section 68 for unexplained cash credits, the Assessing Officer must conduct proper inquiry into the identity, genuineness, and creditworthiness of the creditor, especially concerning share application money. The assessee's initial discharge of burden by providing necessary details shifts the onus back to the AO for further investigation, including the source of source.

658

judgments rely on this decision, according to BharatTax’s citation analysis of 367,164 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Nova Promoters and Finlease · 342 ITR 169 · Section 68 · cash credit · share application money · identity genuineness creditworthiness · onus of proof · Assessing Officer inquiry · source of source · paper company · accommodation entry · Section 131

Also reported as

18 Taxmann.com 217

Sections most often in play

Section 68Section 5(2)Section 147Section 143(3)Section 9Section 148Section 6Section 131

Issues it is cited on

paper companyshare capital and share premiumsource of sourcecreditworthiness of the creditorshare application moneyentry operatorlive linkaddition u/s 68addition under section 68accommodation entrysection 131genuineness of the transaction

Judgments citing Commissioner of Income Tax v. Nova Promoters and Finlease (P) Ltd.

M/S. Motherson Air Travel Agencies Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands partly allowed

ITA 2405/DEL/2015[2005-06]Status: DisposedITAT Delhi08 Aug 2018AY 2005-06

Bench: Sh. N. K. Billaiya & Smt. Beena A. Pillaimotherson Air Travel Dcit Agencies Ltd., Circle 5(1), 2Nd Floor, F-7, Block B-1, New Delhi Mohan Cooperative Industrial Estate, Mathura Vs. Road, New Delhi Pan : Aaacm1993R (Appellant) (Respondent)

For Appellant: Sh. Y.K.Sharma, CAFor Respondent: Sh. S.R.Senapati, Sr. DR
Section 143Section 143(1)Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”, NEW DELHI BEFORE SH. N. K. BILLAIYA , ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER Motherson Air Travel DCIT Agencies Ltd., Circle 5(1), 2nd Floor, F-7, Block B-1, New Delhi Mohan Cooperative Industrial Estate, Mathura Vs. Road, New Delhi PAN : AAACM1993R (Appellant) (Respondent) Assessee by : Sh. Y.K.Sharma, CA Revenue by : Sh. S.R.Senapati, Sr. DR Date of hearing : 06.08.2018 Date of pronouncement : 08.08.2018 O R D E R PER BEENA A. PILLAI, J.M : Present appeal has been filed by assessee against order dated 27/02/15 passed by Ld. CIT (A)-6…

M/S Shree Bankey Bihari Educational Society (Regd), Ghaziabad vs. Addl. CIT, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 2497/DEL/2013[2007-08]Status: DisposedITAT Delhi03 Aug 2018AY 2007-08

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2497/Del/2013 : Asstt. Year : 2007-08 Shree Bankey Bihari Educational Vs Addl. Cit, Society (Regd.), Nh-24, Near Range-2, Masuri Canal, Dasna Mauri, Ghaziabad Ghaziabad-201302 (Appellant) (Respondent) Pan No. Aadts4243G Assessee By : Sh. Akhilesh Kumar, Adv. Revenue By : Sh. Kaushlendra Tiwari, Sr. Dr Date Of Hearing : 29.05.2018 Date Of Pronouncement : 03.08.2018 Order Per N. K. Saini, Am: This Is An Appeal By The Assessee Against The Order Dated 31.10.2012 Of The Ld. Cit(A), Ghaziabad.

For Appellant: Sh. Akhilesh Kumar, AdvFor Respondent: Sh. Kaushlendra Tiwari, Sr. DR
Section 143(3)

…) " CIT Vs Navodaya Castle Pvt. Ltd. (2014) 367 ITR 306 (Del.) 20 Bankey Bihari Educational Society " CIT Vs MAF Academy (P.) Ltd. 361 ITR 258 (Del) " CIT Vs Nipun Builders & Developers (P.) Ltd. 350 ITR 407 (Del.) " CIT Vs Nova Promoters & Finlease (P) Ltd. 342 ITR 169 (Del.) " CIT Vs Ultra Modern Exports (P.) Ltd. 40 Taxmann.com 458 (Del.) " CIT Vs N.R. Portfolio Pvt. Ltd. (2013) 29 Taxmann.com 291 (Del.) " CIT Vs Empire Builtech (P.) Ltd. 366 ITR 110 (Del.) " CIT Vs Focus Exports (P.) Ltd. 51 Taxmann.com 46 (Del.) 20. We have considered the submissions of both the parties and perused the material available on…

Leela G. . Lalwani, Mumbai vs. ITO WD 23(2)(4), Mumbai

Appeal stand dismissed

ITA 6399/MUM/2012[2003-04]Status: DisposedITAT Mumbai01 Aug 2018AY 2003-04

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./I.T.A. No.6399/Mum/2012 (िनधा"रणवष" / Assessment Year:2003-04) Leela G.Lalwani Income Tax Officer 23(2)(4) J-301, Vardhaman Nagar बनाम/ C-10, Pratyakshkar Bhavan 2Nd Floor, Bandra Kurla Complex Jn Of R.P., R.D. & M.G.Road, Vs. Mulund(W), Mumbai-400 080 Bandra, Mumbai-400 007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.Aaapl-4174-A (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenueby : Rajesh Kumar Yadav, Ld.Dr Assessee By : Rajesh Athavale, Ld.Ar सुनवाई की तारीख/ : 05/07/2018 Date Of Hearing घोषणा की तारीख / : 01/08/2018 Date Of Pronouncement

For Appellant: Rajesh Athavale, Ld.ARFor Respondent: Rajesh Kumar Yadav, Ld.DR
Section 132Section 133(6)Section 143(2)Section 143(3)Section 147Section 148Section 68

…ITA No.6399/Mum/2012 Leela G. Lalwani Assessment Year-2003-04 आयकर अपीलीय अिधकरण “ए” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI "ी सी .नाग" "साद, "ाियक सद" एवं "ी मनोज कुमार अ"वाल, लेखा सद" के सम"। BEFORE SHRI C.N. PRASAD, JM AND SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपीलसं./I.T.A. No.6399/Mum/2012 (िनधा"रणवष" / Assessment Year:2003-04) Leela G.Lalwani Income Tax Officer 23(2)(4) J-301, Vardhaman Nagar बनाम/ C-10, Pratyakshkar Bhavan 2nd Floor, Bandra Kurla Complex JN of R.P., R.D. & M.G.Road, Vs. Mulund(W), Mumbai-400 080 Bandra, Mumbai-400 007 "थायीलेखासं./जीआइआरसं./PAN/GIR No.AAAPL-41…

DCIT, New Delhi vs. M/S. Zeco Aircon Ltd., New Delhi

In the result, the Cross Objection filed by the assessee is allowed and the

ITA 5231/DEL/2014[2005-06]Status: DisposedITAT Delhi31 Jul 2018AY 2005-06

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2005-06 Dcit, Circle- 18(1), Zeco Aircon Ltd., 2Nd Floor, Dda, New Delhi. Shopping Complex, Vs. Near Sindhi School, New Rajender Nagar, New Delhi.

For Respondent: Shri Arun Kumar Yadav, Sr.DR
Section 133ASection 143(3)Section 148Section 68

…cided in the judgments of Hon'ble Supreme Court and High Court including the jurisdictional one in the following cases, (i) Sumati Dayal Vs. CIT [80 Taxman 89 (SC)], (ii) T.P.Abdulla Vs. ACIT [207 Taxmann 24 (Kerala)], (iii) Nova Promoters & Finlease P. Ltd. [342 ITR 169 (Delhi)] and (iv) CIT Vs. N.R. Portfolio Ltd. [29 taxmann.com 291 (Delhi)]. 3. The appellant craves leave for reserving the right to amend, modify, alter, add or forego any ground(s) of appeal at any time before or during the hearing of this appeal.” 8. The assessee in his Cross Objection has raised the following grounds :- “1. That the Learned…

Sukumar Enterprises Pvt. Ltd., New Delhi vs. ITO, Ward 24(3), New Delhi

The appeals are partly allowed

ITA 6074/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jul 2018AY 2014-15

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 68

…Prem Castings (P.) Ltd. Vs CIT f20171 88 taxmann.com 189 (Allahabad) 6. CIT Vs Nipun Builders & Developers (P.) Ltd (30 taxmann.com 292. 214 Taxman 429, 350 ITR 407. 256 CTR 34) 7. CIT Vs Nova Promoters & Finlease (P) Ltd (18 taxmann.com 217, 206 Taxman 207. 342 ITR 169. 252 CTR 187) 8. CIT Vs Ultra Modern Exports (P.) Ltd (40 taxmann.com 458, 220 Taxman 165) 9. CIT Vs Frostair (P.) Ltd (26 taxmann.com 11, 210 Taxman 221) 10. CIT Vs N R Portfolio Pvt Ltd T2013l 29 taxmann.com 291 (Delhi)/[2013] 214 Taxman 408 (Delhi)/(2013) 263 CTR 456 (Delhi) 11. CIT Vs Empire Bulltech (P.) Ltd (366 ITR 110) 12. CIT Vs Focus Ex…

Sanskriti Tradex (P) Ltd., New Delhi vs. ITO, Ward 24(3), New Delhi

The appeals are partly allowed

ITA 6072/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Jul 2018AY 2014-15

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 68

…Prem Castings (P.) Ltd. Vs CIT f20171 88 taxmann.com 189 (Allahabad) 6. CIT Vs Nipun Builders & Developers (P.) Ltd (30 taxmann.com 292. 214 Taxman 429, 350 ITR 407. 256 CTR 34) 7. CIT Vs Nova Promoters & Finlease (P) Ltd (18 taxmann.com 217, 206 Taxman 207. 342 ITR 169. 252 CTR 187) 8. CIT Vs Ultra Modern Exports (P.) Ltd (40 taxmann.com 458, 220 Taxman 165) 9. CIT Vs Frostair (P.) Ltd (26 taxmann.com 11, 210 Taxman 221) 10. CIT Vs N R Portfolio Pvt Ltd T2013l 29 taxmann.com 291 (Delhi)/[2013] 214 Taxman 408 (Delhi)/(2013) 263 CTR 456 (Delhi) 11. CIT Vs Empire Bulltech (P.) Ltd (366 ITR 110) 12. CIT Vs Focus Ex…

M/S. Dalmia Consolidated Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeal of the Assessee is allowed

ITA 2753/DEL/2017[2008-09]Status: DisposedITAT Delhi19 Jul 2018AY 2008-09

Bench: Shri H.S. Sidhu & Shri T.S. Kapoorassessment Year: 2008-09

For Appellant: Sh. Hiren Mehta, CAFor Respondent: Ms. Rachna Singh, CIT(DR)
Section 132(1)Section 142(1)Section 143(2)Section 153ASection 153CSection 68

…s is not enough:- - CIT vs. Precision Finance (P) Ltd. 208 ITR 465 (Cal.) - CIT vs. United Commercial & Industries Co. (P) Ltd. 187 ITR 596 (Cal.) - CIT vs. Nipun Builders & Developers (P) Ltd. 350 ITR 407 (Delhi) - CIT vs. Nova Promoters & Finlease (P) Ltd. 342 ITR 169 (Delhi) - Mukesh Shaw vs. ITO 204 taxman 615 (Jharkhand). - NR Portfolio (P) Ltd. vs. CIT 29 Taxmann.com 291 (Delhi). - CIT vs. Empire Buildtech (P) Ltd. 366 ITR 110 (Delhi) - CIT vs. Focus Exports (P) Ltd. 229 Taxman 8 (Delhi). - CIT vs. MAF Academy (P) Ltd. 361 ITR 258 (Delhi) - Navodaya Castle (P) Ltd. vs CIT 56 taxmann.com 18 (SC) - Sudhir Ku…

Manoir Petro India Ltd, Mumbai vs. Pr CIT 1, Mumbai

ITA 2626/MUM/2015[2010-11]Status: DisposedITAT Mumbai12 Jul 2018AY 2010-11

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2010-11 Manoir Petro India Limited, Pr. Cit-1 602, B-Wing, Universal Room No.387, बनाम/ Business Park, Chandivali 3Rd Floor, Vs. Farm Road, Off Saki Vihar Aayakar Bhavan, Road, Andheri (East), M. K. Road, Mumbai-400072 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. Aafcm5210J

Section 263

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘आई’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “I”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri JOGINDER SINGH, Judicial Member, and Shri G. MANJUNATHA, Accountant Member Assessment Year: 2010-11 Manoir Petro India Limited, Pr. CIT-1 602, B-Wing, Universal Room No.387, बनाम/ Business Park, Chandivali 3rd Floor, Vs. Farm Road, Off Saki Vihar Aayakar Bhavan, Road, Andheri (East), M. K. Road, Mumbai-400072 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No. AAFCM5210J 2 Manoir Petro India Limited ITA No.2626/Mum…

DCIT, New Delhi vs. M/S. Suncity Projects Pvt. Ltd., New Delhi

ITA 5740/DEL/2013[2003-04]Status: DisposedITAT Delhi12 Jul 2018AY 2003-04

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm

For Appellant: Sh. Ved Jain, Adv. &For Respondent: Sh. S. S. Rana, CIT DR
Section 132Section 143(1)Section 143(3)Section 147Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI Before Sh. N. K. Saini, AM And Ms. Suchitra Kamble, JM ITA No. 5740/Del/2013 : Asstt. Year: 2003-04 DCIT, Vs M/s Suncity Projects Pvt. Ltd., N-49, 1st Floor, Connaught Place, Central Circle-1, New Delhi New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AABCS8906K Assessee by : Sh. Ved Jain, Adv. & Sh. Ashok Agarwal, CA Revenue by : Sh. S. S. Rana, CIT DR Date of Hearing : 23.04.2018 Date of Pronouncement: 12.07.2018 ORDER Per N. K. Saini, AM: This is an appeal by the department against the order dated 02.08.2013 of ld. CIT(A)-III, New Delhi. 2. F…

M/S. Superb Developers Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 403/DEL/2015[2011-12]Status: DisposedITAT Delhi09 Jul 2018AY 2011-12

Bench: Shri N. K. Saini & Ms. Suchitra Kambleacit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Superb Developers (P) Ltd. Vs Dcit Wz-183, F. F. Lance No. 4 Central Circle-3 Lajwanti Garden New Delhi New Delhi Aaics4437L (Appellant) (Respondent)

Section 132Section 133Section 143(2)Section 153ASection 68

…& Tyagi Pvt. Ltd. 267 ITR 430 (Del) and CIT vs. Victor Electrodes Limited 329 ITR 271 (Del). The assessee has relied on various judgments which are mentioned in CIT(A)’s order and special reference is made in the decision of Nova Promoter & Finlease Pvt. Ltd. 342 ITR 169 (Del) extracted in order of the CIT(A). The crux of the judgment was that if the Assessing Officer has any material on the basis of the investigation carried out by the revenue authorities into the activities of the entry providers and the assessee has some accommodation entries from any such entry providers then in that case the paper evidences…

ACIT, New Delhi vs. M/S. Superb Developers (P) Ltd., New Delhi

ITA 56/DEL/2014[2010-11]Status: DisposedITAT Delhi09 Jul 2018AY 2010-11

Bench: Shri N. K. Saini & Ms. Suchitra Kambleacit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Superb Developers (P) Ltd. Vs Dcit Wz-183, F. F. Lance No. 4 Central Circle-3 Lajwanti Garden New Delhi New Delhi Aaics4437L (Appellant) (Respondent)

Section 132Section 133Section 143(2)Section 153ASection 68

…& Tyagi Pvt. Ltd. 267 ITR 430 (Del) and CIT vs. Victor Electrodes Limited 329 ITR 271 (Del). The assessee has relied on various judgments which are mentioned in CIT(A)’s order and special reference is made in the decision of Nova Promoter & Finlease Pvt. Ltd. 342 ITR 169 (Del) extracted in order of the CIT(A). The crux of the judgment was that if the Assessing Officer has any material on the basis of the investigation carried out by the revenue authorities into the activities of the entry providers and the assessee has some accommodation entries from any such entry providers then in that case the paper evidences…

ACIT, New Delhi vs. M/S. Superb Developers (P) Ltd., New Delhi

ITA 55/DEL/2014[2009-10]Status: DisposedITAT Delhi09 Jul 2018AY 2009-10

Bench: Shri N. K. Saini & Ms. Suchitra Kambleacit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Superb Developers (P) Ltd. Vs Dcit Wz-183, F. F. Lance No. 4 Central Circle-3 Lajwanti Garden New Delhi New Delhi Aaics4437L (Appellant) (Respondent)

Section 132Section 133Section 143(2)Section 153ASection 68

…& Tyagi Pvt. Ltd. 267 ITR 430 (Del) and CIT vs. Victor Electrodes Limited 329 ITR 271 (Del). The assessee has relied on various judgments which are mentioned in CIT(A)’s order and special reference is made in the decision of Nova Promoter & Finlease Pvt. Ltd. 342 ITR 169 (Del) extracted in order of the CIT(A). The crux of the judgment was that if the Assessing Officer has any material on the basis of the investigation carried out by the revenue authorities into the activities of the entry providers and the assessee has some accommodation entries from any such entry providers then in that case the paper evidences…

ACIT, New Delhi vs. M/S. Superb Developers (P) Ltd., New Delhi

ITA 54/DEL/2014[2008-09]Status: DisposedITAT Delhi09 Jul 2018AY 2008-09

Bench: Shri N. K. Saini & Ms. Suchitra Kambleacit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Acit Vs Superb Developers (P) Ltd. Central Circle-3 Wz-183, F. F. Lance No. 4 New Delhi Lajwanti Garden New Delhi Aaics4437L (Appellant) (Respondent) Superb Developers (P) Ltd. Vs Dcit Wz-183, F. F. Lance No. 4 Central Circle-3 Lajwanti Garden New Delhi New Delhi Aaics4437L (Appellant) (Respondent)

Section 132Section 133Section 143(2)Section 153ASection 68

…& Tyagi Pvt. Ltd. 267 ITR 430 (Del) and CIT vs. Victor Electrodes Limited 329 ITR 271 (Del). The assessee has relied on various judgments which are mentioned in CIT(A)’s order and special reference is made in the decision of Nova Promoter & Finlease Pvt. Ltd. 342 ITR 169 (Del) extracted in order of the CIT(A). The crux of the judgment was that if the Assessing Officer has any material on the basis of the investigation carried out by the revenue authorities into the activities of the entry providers and the assessee has some accommodation entries from any such entry providers then in that case the paper evidences…

ITO, New Delhi vs. M/S. Xo Infotech Ltd., Ahmedabad

In the result, Appeal of the Department is

ITA 3342/DEL/2013[2009-10]Status: DisposedITAT Delhi09 Jul 2018AY 2009-10

Bench: Sh.Bhavnesh Saini & Sh. L.P.Sahu[Assessment Year: 2009-10] Xo Infotech Ltd., The Income Tax Officer, (Now Known As M/S. Saral Mining Ltd.), 304, Saffron Vs. Ward-7(3), Room No.306, Building, Panchvati To Ambawadi Road, Ambawadi C.R.Building, New Delhi. Ellisbeidge,Ahmedabad- 380006.Pan-Aaaxx0059K (Appellant) (Respondent) By Revenue : Shri Vijay Varma, Cit-D.R. By Assessee : Shri S.R. Wadhwa, Advocate Date Of Hearing : 07.06.2018 Date Of Pronouncement : 09.07.2018

For Appellant: Shri S.R. Wadhwa, AdvocateFor Respondent: Shri Vijay Varma, CIT-D.R
Section 133(6)Section 143(2)Section 68

…stor companies which is source of payment of share application money. Therefore, the findings of the Ld. CIT(A) may be reversed. He has relied upon decision of the Hon’ble jurisdictional Delhi High Court in the case of Nova Promoters & Finlease Pvt. Ltd., 342 ITR 169 and Pr. CIT vs. Bikram Singh (2017) 399 ITR 362 (Del.) 9. On the other hand, Learned Counsel for the Assessee reiterated the submissions made before the authorities below and submitted that except notice under section 143(2), no other notice have been received by assessee. In the first notice dated 14.11.2011 (PB-64) even address of ITA No.334…

ITO, New Delhi vs. M/S. Nahid Finlease Pvt. Ltd., New Delhi

ITA 6246/DEL/2014[2006-07]Status: DisposedITAT Delhi22 Jun 2018AY 2006-07

Bench: Shri N.K. Saini & Shri Kuldip Singh

For Appellant: Shri S.K. Tulsian, AdvocateFor Respondent: Ms. Shefali Swaroop, CIT DR
Section 143(2)Section 153Section 153ASection 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’ : NEW DELHI) BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.6246/Del./2014 (ASSESSMENT YEAR : 2006-07) ITO, Ward 13 (1), vs. M/s. Nahid Finlease Pvt. Ltd., 16th Floor, Statesman House, New Delhi. Barakhamba Road, New Delhi – 110 001. (PAN : AABCN5146L) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri S.K. Tulsian, Advocate REVENUE BY : Ms. Shefali Swaroop, CIT DR Date of Hearing : 13.06.2018 Date of Order : 22.06.2018 O R D E R PER KULDIP SINGH, JUDICIAL MEMBER : The appellant, Income-tax Officer, Ward 13 (1), New…

ACIT, New Delhi vs. M/S. Kunal Medicare Pvt. Ltd., New Delhi

The appeals of the Revenue are dismissed

ITA 2343/DEL/2016[2011-12]Status: DisposedITAT Delhi11 Jun 2018AY 2011-12

Bench: Shri G. D. Agrawal & Ms Suchitra Kambleacit Vs Umesh Pharmaceuticals Central Circle-6, (Erstwhile Pvt. Ltd. Central Circle) C-30, Room No. 364, 3Rd Floor, E-2, Ara Panchsheel Enclave Centre, Jhandewalan Extension New Delhi New Delhi Aaacu7237L (Appellant) (Respondent) Acit Vs Kunal Medicare, Central Circle-6, (Erstwhile C-30, Central Circle) Panchsheel Enclave Room No. 364, 3Rd Floor, E-2, Ara New Delhi Centre, Jhandewalan Extension Aadck3300M New Delhi (Respondent) (Appellant)

Section 132Section 133(6)

…- 1. PCIT Vs. Bikram Singh [ITA No. 55/2017] (Delhi) 2. Sanraj Engineering Pvt. Ltd. Vs. CIT(ITA 79/2016) (Delhi) 3. Maresj Chandra Jain Vs. CIT(ITA No. 335 of 2009)(Allahabad) 4. CIT Vs. Nova Promoters & Finlease (P) Ltd (18 Taxmann.com 217, 206 Taxman 207, 342 ITR 169, 252 CTR 187) 5. CIT vs. MAF Academy (P). Ltd (361 ITR 258) 6. CIT Vs. Precision Finance (P) Ltd [1995]82 Taxman 31 (Calcutta)/ [1994] 208 ITR 465 (Calcutta)/[1994] 121 CTR 20 (Calcutta) 6. The Ld. AR submitted that the CIT(A) has rightly considered this issue and passed a reasoned order. 7. We have heard both the parties and perused the materi…

ACIT, New Delhi vs. M/S. Umesh Pharmaceuticals Pvt. Ltd., New Delhi

The appeals of the Revenue are dismissed

ITA 2342/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Jun 2018AY 2012-13

Bench: Shri G. D. Agrawal & Ms Suchitra Kambleacit Vs Umesh Pharmaceuticals Central Circle-6, (Erstwhile Pvt. Ltd. Central Circle) C-30, Room No. 364, 3Rd Floor, E-2, Ara Panchsheel Enclave Centre, Jhandewalan Extension New Delhi New Delhi Aaacu7237L (Appellant) (Respondent) Acit Vs Kunal Medicare, Central Circle-6, (Erstwhile C-30, Central Circle) Panchsheel Enclave Room No. 364, 3Rd Floor, E-2, Ara New Delhi Centre, Jhandewalan Extension Aadck3300M New Delhi (Respondent) (Appellant)

Section 132Section 133(6)

…- 1. PCIT Vs. Bikram Singh [ITA No. 55/2017] (Delhi) 2. Sanraj Engineering Pvt. Ltd. Vs. CIT(ITA 79/2016) (Delhi) 3. Maresj Chandra Jain Vs. CIT(ITA No. 335 of 2009)(Allahabad) 4. CIT Vs. Nova Promoters & Finlease (P) Ltd (18 Taxmann.com 217, 206 Taxman 207, 342 ITR 169, 252 CTR 187) 5. CIT vs. MAF Academy (P). Ltd (361 ITR 258) 6. CIT Vs. Precision Finance (P) Ltd [1995]82 Taxman 31 (Calcutta)/ [1994] 208 ITR 465 (Calcutta)/[1994] 121 CTR 20 (Calcutta) 6. The Ld. AR submitted that the CIT(A) has rightly considered this issue and passed a reasoned order. 7. We have heard both the parties and perused the materi…

M/S. Gee Ispat Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeals of the assessee are allowed and that of the department are dismissed

ITA 5476/DEL/2014[2008-09]Status: DisposedITAT Delhi31 May 2018AY 2008-09

Bench: Sh. N. K. Saini, Am & Smt. Beena A. Pillai, Jm

For Appellant: Sh. Gautam Jain & Piyush K. KamalFor Respondent: Sh. Sanjit Singh, CIT DR
Section 253Section 5

…td. (2014) 367 ITR 306 (Del.) " Prem Castings (P.) Ltd. Vs CIT (2017) 88 Taxmann.com 189 (All.) " CIT Vs Nipun Builders & Developers (P.) Ltd. 350 ITR 407 (Del.) & ITA Nos. 4256 to 4259/Del/2014 Gee Ispat Pvt. Ltd. " CIT Vs Nova Promoters & Finlease (P) Ltd. 342 ITR 169 (Del.) " CIT Vs Ultra Modern Exports (P.) Ltd. 40 Taxmann.com 458 (Del.) " CIT Vs Frostair (P.) Ltd. 26 Taxmann.com 11 (Del.) " CIT Vs N R Portfolio Pvt. Ltd. (2013) 29 Taxmann.com 291 (Del.) " CIT Vs Empire Builtech (P.) Ltd. 366 ITR 110 (Del.) " CIT Vs Focus Exports (P.) Ltd. 51 Taxmann.com 46 (Del.) " PCIT Vs Bikram Singh in ITA No. 55/2017 (D…

M/S. Gee Ispat Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeals of the assessee are allowed and that of the department are dismissed

ITA 5475/DEL/2014[2006-07]Status: DisposedITAT Delhi31 May 2018AY 2006-07

Bench: Sh. N. K. Saini, Am & Smt. Beena A. Pillai, Jm

For Appellant: Sh. Gautam Jain & Piyush K. KamalFor Respondent: Sh. Sanjit Singh, CIT DR
Section 253Section 5

…td. (2014) 367 ITR 306 (Del.) " Prem Castings (P.) Ltd. Vs CIT (2017) 88 Taxmann.com 189 (All.) " CIT Vs Nipun Builders & Developers (P.) Ltd. 350 ITR 407 (Del.) & ITA Nos. 4256 to 4259/Del/2014 Gee Ispat Pvt. Ltd. " CIT Vs Nova Promoters & Finlease (P) Ltd. 342 ITR 169 (Del.) " CIT Vs Ultra Modern Exports (P.) Ltd. 40 Taxmann.com 458 (Del.) " CIT Vs Frostair (P.) Ltd. 26 Taxmann.com 11 (Del.) " CIT Vs N R Portfolio Pvt. Ltd. (2013) 29 Taxmann.com 291 (Del.) " CIT Vs Empire Builtech (P.) Ltd. 366 ITR 110 (Del.) " CIT Vs Focus Exports (P.) Ltd. 51 Taxmann.com 46 (Del.) " PCIT Vs Bikram Singh in ITA No. 55/2017 (D…

M/S. Gee Ispat Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeals of the assessee are allowed and that of the department are dismissed

ITA 5425/DEL/2014[2007-08]Status: DisposedITAT Delhi31 May 2018AY 2007-08

Bench: Sh. N. K. Saini, Am & Smt. Beena A. Pillai, Jm

For Appellant: Sh. Gautam Jain & Piyush K. KamalFor Respondent: Sh. Sanjit Singh, CIT DR
Section 253Section 5

…td. (2014) 367 ITR 306 (Del.) " Prem Castings (P.) Ltd. Vs CIT (2017) 88 Taxmann.com 189 (All.) " CIT Vs Nipun Builders & Developers (P.) Ltd. 350 ITR 407 (Del.) & ITA Nos. 4256 to 4259/Del/2014 Gee Ispat Pvt. Ltd. " CIT Vs Nova Promoters & Finlease (P) Ltd. 342 ITR 169 (Del.) " CIT Vs Ultra Modern Exports (P.) Ltd. 40 Taxmann.com 458 (Del.) " CIT Vs Frostair (P.) Ltd. 26 Taxmann.com 11 (Del.) " CIT Vs N R Portfolio Pvt. Ltd. (2013) 29 Taxmann.com 291 (Del.) " CIT Vs Empire Builtech (P.) Ltd. 366 ITR 110 (Del.) " CIT Vs Focus Exports (P.) Ltd. 51 Taxmann.com 46 (Del.) " PCIT Vs Bikram Singh in ITA No. 55/2017 (D…