Commissioner of Income Tax v. Sakarlal Balabhai

69 ITR 186High Court1968#5080 most cited

What is Commissioner of Income Tax v. Sakarlal Balabhai authority for?

The issue of whether a device is a 'colourable device' to artificially create loss for tax evasion is a matter for the Assessing Officer's determination, potentially involving the analysis of employee benefit schemes.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2023.

Also referred to as

CIT v. Sakarlal Balabhai · colourable device · artificial loss · tax evasion · ESOP scheme · bonus shares · group companies · capital loss · profit on sale · Assessing Officer

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

DCIT, New Delhi vs. M/S Indiabulls Financial Services Ltd., New Delhi

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

ITA 4192/DEL/2012[2008-09]Status: DisposedITAT Delhi13 Jan 2016AY 2008-09

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…

Indiabulls Financial Services Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 3552/DEL/2012[2008-09]Status: DisposedITAT Delhi13 Jan 2016AY 2008-09

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…

Commr.of Income Tax Delhi I vs. M/S Abhinandan Invest.Ltd

ITA/130/2001HC Delhi19 Nov 2015

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

For Appellant: Mr. Rohit Madan, Senior Standing counsel withFor Respondent: Mr. Ajay Vohra, Senior Advocate with Ms
Section 260A

…ITA130/2001 Page 1 of 44 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 19.11.2015 + ITA 130/2001 COMMISSIONER OF INCOME TAX DELHI-I ..... Appellant versus M/S ABHINANDAN INVESTMENT LTD. ..... Respondent Advocates who appeared in this case: For the Appellant : Mr. Rohit Madan, Senior Standing counsel with Mr. Zoheb Hossain. For the Respondent : Mr. Ajay Vohra, Senior Advocate with Ms. Kavita Jha. CORAM: DR. JUSTICE S. MURALIDHAR MR. JUSTICE VIBHU BAKHRU JUDGMENT VIBHU BAKHRU, J 1. This is an appeal filed by the Revenue…