DCIT v. Credtalpha Alternative Advisors P. Ltd.

134 Taxmann.com 223Income Tax Appellate Tribunal2022#11101 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2022 to 2025.

Sections most often in play

Section 11UA(2)Section 143(3)Section 43 Section 50B(3)Section 56(2)(viib)

Issues it is cited on

nav method dcf method section 56(2)(viib)valuation of shares section 56(2)fair market value section 56 book profits advance tax section 263 section 26 income from other sources

Judgments citing DCIT v. Credtalpha Alternative Advisors P. Ltd.

IDEAFORGE TECHNOLOGY LTD,MAHAPE vs. ACIT, CIRCLE 15(2)(1), MUMBAI, MUMBAI

The appeal of the assessee is allowed

ITA 867/MUM/2025[2017-18]Status: DisposedITAT Mumbai26 Sept 2025AY 2017-18

Bench: Shri Narender Kumar Choudhry & Smt. Renu Jauhriआयकर अपील सं./Ita No. 867/Mum/2025 (निर्धारण वर्ा / Assessment Year: 2017-18) Ideaforge Technology V/S. Assistant Commissioner Ltd. बिधम Of Income Tax, Circle El-146, Ttc Industrial 15(2)(1), Mumbai Area, Electronic Zone, Room No. 357, 3Rd Floor, Midc, Mahape, Navi Aayakar Bhavan, Maharshi Mumbai Karve Road, Mumbai 400020 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No: Aabci6495B Appellant/अपीलधथी .. Respondent/प्रनिवधदी निर्धाररिी की ओर से /Assessee By: Shri Subodh Ratnaparkhi Shri. Leyaqat Ali Aafaqui (Sr Dr) रधजस्व की ओर से /Revenue By: सुिवधई की िधरीख / Date Of Hearing 22.08.2025 घोर्णध की िधरीख/Date Of Pronouncement 26.09.2025 आदेश / O R D E R Per Renu Jauhri [A.M.] :- This Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi [Cit(A)] Dated 11.12.2024, Passed U/S. 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “Act”] For Assessment Year [A.Y.] 2017-18. 2. The Assessee Has Raised The Following Grounds Of Appeal: “On The Facts & In Law, 1. The Hon. Cit(A) Erred In Upholding The Action Of The Id Ao In Making Addition Of Rs. 6,60,02,100/- By Relying Upon The Provisions Of Section 56(2)(Viib) Of The It Act, 1961 On The Ground That The Consideration Received By The Appellant For Issue Of P A G E | 2

For Appellant: Shri Subodh Ratnaparkhi

Section 143(3)Section 250Section 56(2)(viIb)Section 56(2)(viib)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 867/MUM/2025 (निर्धारण वर्ा / Assessment Year: 2017-18) Ideaforge Technology v/s. Assistant Commissioner Ltd. बिधम of Income Tax, Circle EL-146, TTC Industrial 15(2)(1), Mumbai Area, Electronic Zone, Room NO. 357, 3rd Floor, MIDC, Mahape, Navi Aayakar Bhavan, Maharshi Mumbai Karve Road, Mumbai 400020 स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No: AABCI6495B Appellant/अपीलधथी .. Respondent/प्रनिवधदी निर्धाररिी की ओर से /Assessee by: Shri Subodh Ratnaparkhi…

RAAJRATNA ENERGY HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE

ITA 1185/BANG/2025[2018-19]Status: DisposedITAT Bangalore11 Aug 2025AY 2018-19

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

For Appellant: Shri. Ramesh Babu, CAFor Respondent: Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore

Section 14ASection 56(2)Section 56(2)(viib)

…INCOME TAX APPELLATE TRIBUNAL "B" BENCH : BANGALORE BEFORE SHRI. LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI. SOUNDARARAJAN K, JUDICIAL MEMBER ITA Nos.1184, 1185/Bang/2025 Assessment Years : 2017-18, 2018-19 M/s Raajratna Energy Holdings Pvt. Vs. ITO, Ltd Plot No 304, Level 3, Surya Chakra House, Road No 78, Jubilee Hills, Hyderabad - 500033. PAN : AAECM 6049 G APPELLANT Ward -3(2)(3), Bangalore. RESPONDENT Assessee by : Shri. Ramesh Babu, CA Revenue by : Shri. Swaroop Manava, Addl. CIT(DR)(ITAT), Bangalore. Date of hearing : 07.08.2025 Date of Pronouncement: 11=.09.2025 ORDER Per Laxmi Prasad Sahu, Accountant…

SIS PROSEGUR HOLDINGS PVT LTD,PATNA vs. PR.CIT-1, PATNA

In the result, the appeal of the assessee stands dismissed

ITA 47/PAT/2021[2015-16]Status: DisposedITAT Patna18 May 2023AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.47/Pat/2021 Assessment Year: 2015-16 Sis Prosegur Holdings Pvt. Ltd...…………....….........…..........….…… Appellant Annapoorna Bhawan, Patliputra Telephone Exchange, Kurji, Patna, Bihar-800010 [Pan: Aaucs7524A] Vs. Pcit-1, Patna..................................…………........….....…...…..…..... Respondent Appearances By: Shri Nageswar Rao, Adv., Appeared On Behalf Of The Appellant. Smt. Rinku Singh, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 18, 2023 Date Of Pronouncing The Order : May 18, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Revision Order Dated 25.03.2021 Of The Principal Commissioner Of Income Tax-1, Patna [Hereinafter Referred To As ‘Pcit’] Passed U/S 263 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Brief Facts Of The Case Are That The Ld. Pcit While Examining Assessment Records Found That The Assessee During The Year Had Issued 900000 Equity Shares Of Rs.10/- At A Premium Of Rs.90/- Per Share Totalling Rs.100/- Per Share. The Ld. Pcit Further Observed As Under: It Is To Be Noted That, During The Year Under Consideration, The Provisions Of Section 56(2)(Viib) Were Applicable As Per Which If Aggregate Consideration For Issuance Of Shares Is More Than Fair Market

Section 143(3)Section 263Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL “PATNA BENCH, PATNA VIRTUAL HEARING AT KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.47/Pat/2021 Assessment Year: 2015-16 SIS Prosegur Holdings Pvt. Ltd...…………....….........…..........….…… Appellant Annapoorna Bhawan, Patliputra Telephone Exchange, Kurji, Patna, Bihar-800010 [PAN: AAUCS7524A] vs. PCIT-1, Patna..................................…………........….....…...…..…..... Respondent Appearances by: Shri Nageswar Rao, Adv., appeared on behalf of the appellan…

CROWN CHEMICALS PVT LTD.,NAVI MUMBAI vs. ACIT 15 (1)(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 7876/MUM/2019[2015-16]Status: DisposedITAT Mumbai23 Dec 2022AY 2015-16

Section 143(1)Section 143(3)Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SMT KAVITHA RAJAGOPAL, JUDICIAL MEMBER M/s. Crown Chemicals Vs. ACIT 15(1)(2) & CIT (A)- Private Limited 24, Mumbai R-81/82, Rabale Ayakar Bhavan TTC Industrial Area Mumbai – 400 020 Navi Mumbai – 400 701 PAN/GIR No.AABCC1119N (Appellant) .. (Respondent) Assessee by Ms. Ketan Ved Revenue by Ms. Sujata Iyengar Date of Hearing 15/11/2022 Date of Pronouncement 23/12/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No. 7876/Mum/2019 for A.Y.2015-16 arises out of the order by the ld. Commissio…

M/S D.P.JAIN UJJAIN PACKAGE (ANNUITY ROAD PROJECTS) PVT .LTD,NAGPUR vs. THE PRINCIPAL CIT (CENTRAL) , NAGPUR

In the result, the appeal of the assessee is allowed

ITA 36/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Aug 2022AY 2013-14

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

Section 132Section 143(3)Section 153ASection 263Section 56(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER I.T.A Nos. 34/NAG/2021 (ASSESSMENT YEAR-2013-14) DP Jain Dariapur Jasondhi Vs. Pr. CIT, Central, (Annuity) Road Projects Pvt. Ltd. Nagpur. U/7, Himalaya Accord Apartment, Opp. Law College, Amravati Road, Nagpur. PAN:AAECD0823H I.T.A Nos. 35/NAG/2021 (ASSESSMENT YEAR-2013-14) DP Jain Datia Bhander Toll Road Vs. Pr. CIT, Central, Projects Pvt. Ltd. Nagpur. U/7, Himalaya Accord Apartment, Opp. Law College, Amravati Road, Nagpur. PAN:AAECD0401H I.T.A Nos. 36/NAG/…

DP JAIN DATIA BHANDER TOLL ROAD PROJECTS PVT LTD,NAGPUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), NAGPUR

In the result, the appeal of the assessee is allowed

ITA 35/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Aug 2022AY 2013-14

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

Section 132Section 143(3)Section 153ASection 263Section 56(2)

DP JAIN DARIAPUR JASONDHI (ANNUITY) ROAD PROJECT PVT. LTD.,NAPGUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), NAGPUR

In the result, the appeal of the assessee is allowed

ITA 34/NAG/2021[2013-14]Status: DisposedITAT Nagpur29 Aug 2022AY 2013-14

Bench: Shri Vikram Singh Yadav & Shri Yogesh Kumar U.S.

Section 132Section 143(3)Section 153ASection 263Section 56(2)

PRIVILEGE INDUSTRIES LTD.,MUMBAI vs. PR. CIT - 14, MUMBAI

In the result, appeal is dismissed

ITA 3317/MUM/2019[2014-15]Status: DisposedITAT Mumbai26 Jul 2022AY 2014-15

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Pr. Commissioner Of Income Tax– M/S Privilege Industries Ltd. 14 3Rd Floor, Dheeraj Arma, Anant Room No. 415, Vs. Kanekar Marg, 4Th Floor, Aayakar Bhavan, Bandra (E), Mumbai-400 051 Maharshi Karve Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaecs6532N

For Appellant: Mr. Nimesh Thar, ARFor Respondent: Mr. Sanjay V. Deshmukh, DR

Section 143(3)Section 14ASection 263Section 56(2)(viib)

…rdingly the value of share can be 569.17 per share. Thus there is no prejudice caused to the revenue. f. He relied upon several judicial precedents. He referred to the decision of coordinate bench in case of Deputy Commissioner of income tax versus Credtalpa 134 Taxmann.com 223 that the law does not given authority to the learned assessing officer to pick and choose one of the methods of the share valuation and make the addition. He further relied upon the decision of the honourable Bombay High Court in case of Vodafone M Pesa limited versus principal Commissioner of income tax 92 taxmann.com 73 stating that the…

DY CIT. CIRCLE-1, THANE vs. M/S TRAVECOM GLOBAL P. LTD., BHAYANDER

In the result, appeal filed by the Revenue is dismissed

ITA 59/MUM/2021[2016-17]Status: DisposedITAT Mumbai28 Jun 2022AY 2016-17

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bledcit – Circle 1 V. M/S. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6Th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 Pan: Aaect8729Q (Appellant) (Respondent) Assessee By : Ms. Aarti Vissanji Department By : Shri B.K. Bagchi

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri B.K. Bagchi

Section 143(2)Section 56(2)(viib)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER DCIT – Circle 1 v. M/s. Travecom Global Pvt. Ltd., Room No. 22, B-Wing B/607, Krishnakunj 6th Floor, Ashar I.T. Park Salasar Brij Bhoomi Wagle Industrial Estate Bhayander (W)-401101 Thane (W)-400604 PAN: AAECT8729Q (Appellant) (Respondent) Assessee by : Ms. Aarti Vissanji Department by : Shri B.K. Bagchi Date of Hearing : 26.05.2022 Date of Pronouncement : 28.06.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the revenue against order…