Commissioner of Income Tax v. Sakarlal Balabhai

69 ITR 186High Court1968#5166 most cited
23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Issues it is cited on

section 5(2)(b)section 5(2)share capital and share premiumsource of sourcecreditworthiness of the creditorsection 250(4)borrowed satisfactionadmission of additional evidencenon-residentshare application moneytangible materialrule 46a

Judgments citing Commissioner of Income Tax v. Sakarlal Balabhai

JM FINANCIAL LTD,MUMBAI vs. DCIT 4(3), MUMBAI

The appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3987/MUM/2015[2008-09]Status: DisposedITAT Mumbai04 Aug 2023AY 2008-09

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

Section 143(3)

…of the employees of the JM group. The sale of bonus shares ensured that the employees would be able to get more shares at a more attractive price. 6. The ld AR relied on the following judicial pronouncements in this regard -  CIT v. Sakarlal Balabhai [1968] 69 ITR 186 (Guj)(HC)  ACIT v. Biraj Investments P. Ltd. [2012] 210 Taxman 418 (Guj.)(HC)  UOI v. Azadi Bachao Andolan [2003] 263 ITR 706 (SC) 19. We heard the parties and perused the material on record. We notice that the AO rejected the claim of set off of short term capital loss of Rs. 4,65,44,19,508/- and long term capital loss of Rs. 54,90,36,870/- on…

DCIT 4(3)(1), MUMBAI vs. J.M. FINANCIAL LTD, MUMBAI

The appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3925/MUM/2015[2008-09]Status: DisposedITAT Mumbai04 Aug 2023AY 2008-09

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

Section 143(3)

…of the employees of the JM group. The sale of bonus shares ensured that the employees would be able to get more shares at a more attractive price. 6. The ld AR relied on the following judicial pronouncements in this regard -  CIT v. Sakarlal Balabhai [1968] 69 ITR 186 (Guj)(HC)  ACIT v. Biraj Investments P. Ltd. [2012] 210 Taxman 418 (Guj.)(HC)  UOI v. Azadi Bachao Andolan [2003] 263 ITR 706 (SC) 19. We heard the parties and perused the material on record. We notice that the AO rejected the claim of set off of short term capital loss of Rs. 4,65,44,19,508/- and long term capital loss of Rs. 54,90,36,870/- 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

…TR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s.…

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

…TR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s.…

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

…TR (xxxiii) 596 (Cal) CIT V. Precision Finance (P) Ltd (1994) 208 ITR 465 (Cal) (xxxiv) CIT V. Lachman Dass Oswal (1980) 126 ITR 446 (P & H) (xxxv) Jiyajirao Cotton Mills Ltd V. CIT & EPT (1958) 34 ITR 888 (SC) (xxxvi) (xxxvii) CIT V. Sakarlal Balabhai (1968) 69 ITR 186 (Guj) affirmed by Han'ble Supreme Court in CIT V. Sakarlal Balabhai (1972) 86 ITR 2 (SC) (xxxviii) Mc.Dowell & Co., Ltd V. CTO (1985) 154 ITR 148 (SC) DCIT, Circle-16(1), Hyderabad V. Madhusudan Rao (2015) 57 (xxxix) Taxmann.com 262 (Hyd-Trib) ITA Nos.1441 & 1442/Bang/2018 & CO 103 & 104/Bang/2018 ITA No.1443/Bang/2018 & CO No.105/Bang/2018 M/s.…

ADANI AGRO PVT. LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, the assessee appeal is thus allowed

ITA 1809/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2009-10

Bench: Shri O. P. Meena& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Parin ShahFor Respondent: 17.09.2019
Section 115JSection 143(3)Section 14ASection 234BSection 234C

…s was only a paper transaction and a device contrived by the assessee to claim loss which it did not suffer and thereby seek set off against the capital gain received by it during the year under consideration. 18. In the case of CIT v. SakarlalBalabhai [1968] 69 ITR 186 (Raj.), a Division Bench of this Court observed that avoidance of tax cannot include every case of reduction of tax liability of an assessee. The assessee may enter into a transaction which has the effect of diminishing his income and consequently reducing his tax liability. In such a case, there would be no avoidance of tax, For example, a case w…

AURA SECURITIES PVT. LTD.,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

In the result the appeal of the assessee is allowed

ITA 3462/AHD/2014[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R
Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

…was only a paper transaction and a device contrived by the assessee to claim loss which it did not suffer and thereby seek set off against the capital gain received by it during the year under consideration. 18. In the case of CIT v. Sakarlal Balabhai [1968] 69 ITR 186 (Raj.), a Division Bench of this Court observed that avoidance of tax cannot include every case of reduction of tax liability of an assessee. The assessee may enter into a transaction which has the effect of diminishing his income and consequently reducing his tax liability. In such a case, there would be no avoidance of tax, For example, a case w…

AURA SECURITIES PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-1,, AHMEDABAD

In the result the appeal of the assessee is allowed

ITA 986/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R
Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

…was only a paper transaction and a device contrived by the assessee to claim loss which it did not suffer and thereby seek set off against the capital gain received by it during the year under consideration. 18. In the case of CIT v. Sakarlal Balabhai [1968] 69 ITR 186 (Raj.), a Division Bench of this Court observed that avoidance of tax cannot include every case of reduction of tax liability of an assessee. The assessee may enter into a transaction which has the effect of diminishing his income and consequently reducing his tax liability. In such a case, there would be no avoidance of tax, For example, a case w…

SMT. SUSHILA DEVI KAJARIA,KOLKATA vs. ACIT, CIRCLE - 36, KOLKATA , KOLKATA

ITA 1255/KOL/2018[2014-15]Status: DisposedITAT Kolkata03 Apr 2019AY 2014-15

Bench: Shri S.S, Godara

Section 143(3)Section 68

…ed to bring unaccounted money as the legitimated gain in the guise of Long Term Capital Gain which is exempt. U/s 10(38) of the Act. 11. On such issues views of different courts are clearly against Tax avoidance. In the case of CIT vs Sakarial Balabbai (1968) 69 ITR 186 (Guj.), the court clarified the meaning of "Avoidance of Tax" are not colorless words. They are strong and compelling words connoting a positive volition, a deliberate intention on the part of the assessee to a id tax - Transaction must be mala fide. 12. Justice Rangnath Misra of Supreme Court while speaking in the case of Mc Do Ltd. - vs - CTO (1…

NAVIN KUMAR KAJARIA,KOLKATA vs. ACIT, CIRCLE - 35, KOLKATA , KOLKATA

ITA 1254/KOL/2018[2014-15]Status: DisposedITAT Kolkata03 Apr 2019AY 2014-15

Bench: Shri S.S, Godara

Section 143(3)Section 68

…ed to bring unaccounted money as the legitimated gain in the guise of Long Term Capital Gain which is exempt. U/s 10(38) of the Act. 11. On such issues views of different courts are clearly against Tax avoidance. In the case of CIT vs Sakarial Balabbai (1968) 69 ITR 186 (Guj.), the court clarified the meaning of "Avoidance of Tax" are not colorless words. They are strong and compelling words connoting a positive volition, a deliberate intention on the part of the assessee to a id tax - Transaction must be mala fide. 12. Justice Rangnath Misra of Supreme Court while speaking in the case of Mc Do Ltd. - vs - CTO (1…

M/S STYLISH CONSTRUCTION PVT. LTD. vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

ITA 2512/DEL/2013[2008-09]Status: DisposedITAT Delhi18 May 2017AY 2008-09

Bench: Shri H. S. Sidhu & Shri Prashant Maharishistylish Construction Pvt. Ltd, Dcit, 1027, Top Floor, Ward No. 8, Circle-9(1), Vs. Mehra Chowk, Mehrauli New Delhi Pan: Aaics4664H (Appellant) (Respondent)

For Appellant: Sh. Ashwani Kumar, CAFor Respondent: Sh. NK Bansal, Sr DR
Section 143(3)Section 14ASection 250Section 73

…was only a paper transaction and a device contrived by the assessee to claim loss which it did not suffer and thereby seek set off against the capital gain received by it during the year under consideration. 18. In the case of CIT v. Sakarlal Balabhai [1968] 69 ITR 186 (Raj.), a Division Bench of this Court observed that avoidance of tax cannot include every case of reduction of tax liability of an assessee. The assessee may enter into a transaction which has the effect of diminishing his income and consequently reducing his tax liability. In such a case, there would be no avoidance of tax, For example, a case w…

M/S SUDERA SERVICES (P) LTD.,KOLKATA vs. THE ITO, WD-8(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 724/KOL/2015[2011-2012]Status: DisposedITAT Kolkata19 Apr 2017AY 2011-2012
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL,‘D’ BENCH, KOLKATA Before: Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member A.Y 2011-12 M/s. Sudera Services Vs. Income Tax Officer Pvt. Ltd Ward 8(4), Kolkata PAN: AADCS8060J (Appellant) (Respondent) Appearances by: Shri Ravi Tulsiyan, Advocate, ld.AR for the assessee Shri Rajat Kumar Kureel, JCIT, ld.Sr.DR for the revenue Date of hearing : 20-01-2017 Date of pronouncement : 19-04-2017 O R D E R Shri S.S. Viswanethra Ravi, JM :- This appeal by the Assessee is against the order dt: 20- 03-2015 passed by the Commissioner of Incom…

I.T.O WD - 8(3),KOLKATA, KOLKATA vs. M/S RUIA SONS PVT LTD., KOLKATA

In the result the appeal by the revenue is partly allowed

ITA 365/KOL/2013[2009-10]Status: DisposedITAT Kolkata03 Mar 2017AY 2009-10

Bench: Hon’Ble Sri M.Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm] I.T.A No. 365/Kol/2013 Assessment Year : 2009-10 I.T.O., Ward-8(3), -Vs.- M/S. Ruia Sons Pvt. Ltd. Kolkata Kolkata [Pan : Aaccr 3949 Q] (Respondent) (Appellant) For The Appellant : Shri Arup Kumar Sinha, Cit For The Respondent : Shri Manoj Kataruka, Advocate

For Appellant: Shri Arup Kumar Sinha, CITFor Respondent: Shri Manoj Kataruka, Advocate
Section 143(2)Section 143(3)Section 194CSection 194JSection 301Section 40

…an do so within the law, and that he may legitimately claim the advantage of any expressed terms or of any omission that he can find in his favour in taxing Act. In so doing he neither comes under liability nor incurs blame.' In the case of Sankarlal Balabhai 69 ITR 186 (Guj) it was held "Tax avoidance postulates that the assessee is in receipt of amount which is really and in truth his income eligible to tax but on which he avoids payment of tax by some artifice or device. Such artifice or device may apparently show the income as accruing to another person, at the same time making it available for use and enjoym…

I.T.O WD - 7(3),KOLKATA., KOLKATA vs. M/S SHALINI PROPERTIES & DEVELOPERS PRIVATE LIMITED., KOLKATA

In the result the appeal preferred by the revenue is dismissed

ITA 171/KOL/2013[2009-10]Status: DisposedITAT Kolkata28 Feb 2017AY 2009-10

Bench: Hon’Ble Sri M.Balaganesh, Am & Shri Partha Sarathi Chaudhury, Jm] I.T.A No. 171/Kol/2013 Assessment Year : 2009-10 I.T.O., Ward-7(3) -Vs.- M/S. Shalini Properties & Developers Kolkata Pvt. Limited., Kolkata [Pan : Aahcs 7896 N] (Respondent) (Appellant) For The Appellant : Shri Arup Kumar Sinha, Cit For The Respondent : Shri Manoj Kataruka, Advocate

For Appellant: Shri Arup Kumar Sinha, CITFor Respondent: Shri Manoj Kataruka, Advocate
Section 143(3)Section 301Section 37(1)

…can do so within the law, and that he may legitimately claim the advantage of any expressed terms or of any omission that he can find in his favour in taxing Act. In so doing he neither comes under liability nor incurs blame. In the case of Sankarlal Balabhai 69 ITR 186 (Guj) it was held “ Tax avoidance postulates that the assessee is in receipt of amount which is really and in truth his income eligible to tax but on which he avoids payment of tax by some artifice or device. Such artifice or device may apparently shows the income as accruing to another person at the same time making it available for use and enjoy…

Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

ITTA/211/2008HC Telangana23 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

…C/TAXAP/194/2008 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 194 of 2008 With R/TAX APPEAL NO. 195 of 2008 With R/TAX APPEAL NO. 196 of 2008 With R/TAX APPEAL NO. 211 of 2008 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA ================================================================ 1 Whether Reporters of Local Papers may be allowed to see the judgment ? NO 2 To be referred to the Reporter or not ? NO 3 Whe…

The Commissioner of Income Tax-II, vs. M/S Gulf Oil Corporation Pvt. Ltd.,

ITTA/195/2008HC Telangana23 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

…C/TAXAP/194/2008 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 194 of 2008 With R/TAX APPEAL NO. 195 of 2008 With R/TAX APPEAL NO. 196 of 2008 With R/TAX APPEAL NO. 211 of 2008 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA ================================================================ 1 Whether Reporters of Local Papers may be allowed to see the judgment ? NO 2 To be referred to the Reporter or not ? NO 3 Whe…

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

ITTA/196/2008HC Telangana02 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

…C/TAXAP/194/2008 JUDGMENT IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 194 of 2008 With R/TAX APPEAL NO. 195 of 2008 With R/TAX APPEAL NO. 196 of 2008 With R/TAX APPEAL NO. 211 of 2008 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA ================================================================ 1 Whether Reporters of Local Papers may be allowed to see the judgment ? NO 2 To be referred to the Reporter or not ? NO 3 Whe…

IME TRUST,GHAZIABAD vs. CIT, GHAZIABAD

In the result, both the appeals filed by the assessee are allowed

ITA 6202/DEL/2013[]Status: DisposedITAT Delhi13 Jan 2016

Bench: Sh. Aby T. Varkey & Sh. O.P. Kant

Section 12ASection 80GSection 80G(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’: NEW DELHI BEFORE SH. ABY T. VARKEY, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos. 6201 & 6202/Del/2013 Assessment Year: Nil IME Trust, c/o- Sh. Akhilesh Vs. Commissioner of Income Tax, Kumar, Advocate, Chamber No. Hapur, Chungi, Ghaziabad 206-207, Ansal “Satyam”, RDC Raj. Nagar, Ghaziabad (PAN: AAATI9053P) (Appellant) (Respondent) Assessee by Sh. Akhilesh Kumar, Adv. Department by Sh. A.K. Saroha, CIT(DR) Date of hearing 26.11.2015 Date of pronouncement 13.01.2016 ORDER PER O.P. KANT, A.M.: These appeals of the assessee are directed against t…

IME TRUST,GHAZIABAD vs. CIT, GHAZIABAD

In the result, both the appeals filed by the assessee are allowed

ITA 6201/DEL/2013[]Status: DisposedITAT Delhi13 Jan 2016

Bench: Sh. Aby T. Varkey & Sh. O.P. Kant

Section 12ASection 80GSection 80G(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’: NEW DELHI BEFORE SH. ABY T. VARKEY, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos. 6201 & 6202/Del/2013 Assessment Year: Nil IME Trust, c/o- Sh. Akhilesh Vs. Commissioner of Income Tax, Kumar, Advocate, Chamber No. Hapur, Chungi, Ghaziabad 206-207, Ansal “Satyam”, RDC Raj. Nagar, Ghaziabad (PAN: AAATI9053P) (Appellant) (Respondent) Assessee by Sh. Akhilesh Kumar, Adv. Department by Sh. A.K. Saroha, CIT(DR) Date of hearing 26.11.2015 Date of pronouncement 13.01.2016 ORDER PER O.P. KANT, A.M.: These appeals of the assessee are directed against t…

DCIT, NEW DELHI vs. M/S INDIABULLS FINANCIAL SERVICES LTD.,, DELHI

In the result, both the appeals filed by the assessee are allowed

ITA 1578/DEL/2013[2009-10]Status: DisposedITAT Delhi13 Jan 2016AY 2009-10

Bench: Sh. Aby T. Varkey & Sh. O.P. Kant

Section 12ASection 80GSection 80G(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’: NEW DELHI BEFORE SH. ABY T. VARKEY, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER ITA Nos. 6201 & 6202/Del/2013 Assessment Year: Nil IME Trust, c/o- Sh. Akhilesh Vs. Commissioner of Income Tax, Kumar, Advocate, Chamber No. Hapur, Chungi, Ghaziabad 206-207, Ansal “Satyam”, RDC Raj. Nagar, Ghaziabad (PAN: AAATI9053P) (Appellant) (Respondent) Assessee by Sh. Akhilesh Kumar, Adv. Department by Sh. A.K. Saroha, CIT(DR) Date of hearing 26.11.2015 Date of pronouncement 13.01.2016 ORDER PER O.P. KANT, A.M.: These appeals of the assessee are directed against t…

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