DCIT v. Manish M Chheda

29 SOT 138Income Tax Appellate Tribunal2009#6755 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 143(2)Section 143(3)Section 147 Section 148 Section 28(iv)Section 45(4)

Issues it is cited on

section 11b section 43b(a)section 28(iv)section 73 enhanced compensation section 145a section 17 profits and gains of business or profession mercantile system of accounting section 28 section 32 section 145

Judgments citing DCIT v. Manish M Chheda

INCOME TAX OFFICER, COIMBATORE vs. DAMAYANTI RAMACHANDRAN, GN MILLS POST, COIMBATORE

ITA 149/CHNY/2025[2016-17]Status: DisposedITAT Chennai07 Aug 2025AY 2016-17

Bench: Hon'Ble Shri Manu Kumar Giri & Hon'Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.103/Chny/2025, निर्धारण वर्ष/Assessment Year: 2015-16 Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) Co No.19/Chny/2025, निर्धारण वर्ष/Assessment Year: 2015-16 Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore V. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.149/Chny/2025, निर्धारण वर्ष/Assessment Year: 2016-17 Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) Co No.20/Chny/2025, निर्धारण वर्ष/Assessment Year: 2016-17 Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By Mr.Ketan K. Ved, C.A

Section 45(4)

…hny/2025 (AY-2015-16) ITA No.149/Chny/2025 & CO No.20/Chny/2025 (AY-2016-17) Damayanti Ramachandran :: 14 :: 6.1 He also submitted that the Id. CIT(A) has referred to the ruling of the Mumbai Bench of the ITAT in the case of Dy. CIT v. Manish M. Chheda [2009] 29 SOT 138 (Mum.), wherein the Hon'ble Mumbai ITAT has held that: "since no benefit or perquisite arose to partners in course of business carried on, section 28(iv) could not be applied to bring sum in question to tax in hands of partners of firm. Even otherwise, increase in capital of a partner as a result of revaluation of assets of firm did not have nexus…

INCOME TAX OFFICER, COIMBATORE vs. DAMAYANTI RAMACHANDRAN, GN MILLS POST, COIMBATORE

In the result, both the appeals of revenue for the A

ITA 103/CHNY/2025[2015-16]Status: DisposedITAT Chennai07 Aug 2025AY 2015-16

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.103/Chny/2025, ननिाारण वर्ा/Assessment Year: 2015-16

For Appellant: Mr.Ketan K. Ved, C.AFor Respondent: Mr.Bipin C.N, CIT

Section 45(4)

…hny/2025 (AY-2015-16) ITA No.149/Chny/2025 & CO No.20/Chny/2025 (AY-2016-17) Damayanti Ramachandran :: 14 :: 6.1 He also submitted that the ld. CIT(A) has referred to the ruling of the Mumbai Bench of the ITAT in the case of Dy. CIT v. Manish M. Chheda [2009] 29 SOT 138 (Mum.), wherein the Hon’ble Mumbai ITAT has held that: “since no benefit or perquisite arose to partners in course of business carried on, section 28(iv) could not be applied to bring sum in question to tax in hands of partners of firm. Even otherwise, increase in capital of a partner as a result of revaluation of assets of firm did not have nexu…

TOTAL ENVIRONMENT BUILDING SYSTEMS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(1)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

ITA 352/BANG/2023[2012-13]Status: DisposedITAT Bangalore18 Dec 2023AY 2012-13

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2012-13

For Appellant: Smt. Tanmayee Rajkumar, A.RFor Respondent: Ms. Neera Malhotra, D.R

Section 139(1)Section 250Section 43B

…ITA No.352/Bang/2023 Total Environment Building Systems Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. MADHUMITA ROY, JUDICIAL MEMBER Assessment Year: 2012-13 Total Environment Building Systems Pvt. Ltd. ‘Imagine’, No.78, ITPL Main Road DCIT EPIP Zone Circle-5(1)(1) Vs. Whitefield Bangalore Bangalore 560 066 PAN NO : AABCT9452F APPELLANT RESPONDENT Appellant by : Smt. Tanmayee Rajkumar, A.R. Respondent by : Ms. Neera Malhotra, D.R. Date of Hearing : 18.12.2023 Date of Pronouncement : 18.12.2023 O R D E R PER CHANDRA P…

HUBLI ELECTRICITY SUPPLY ,HUBBALLI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1(1), HUBALLI

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 341/BANG/2023[2010-11]Status: DisposedITAT Bangalore01 Dec 2023AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

For Appellant: Smt. Prathibha R., A.RFor Respondent: Shri G. Manoj Kumar, D.R

Section 194CSection 194JSection 201Section 250Section 40

…ITA No.341/Bang/2023 Hubli Electricity Supply, Hubli IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2010-11 Hubli Electricity Supply 0, PB Road, Navanagar DCIT Hubli 580 025 Vs. Circle-1(1) Hubli PAN NO : AABCH3176J APPELLANT RESPONDENT Appellant by : Smt. Prathibha R., A.R. Respondent by : Shri G. Manoj Kumar, D.R. Date of Hearing : 30.11.2023 Date of Pronouncement : 01.12.2023 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal by assessee is directed against order of NFAC passed…

ASHRAF NAFISA ALTHAF,MOODUBIDRI MANGALORE vs. INCOME TAX OFFICER, WARD-1 & TPS, UDUPI

In the result, the appeal of the assessee is dismissed

ITA 614/BANG/2023[2013-14]Status: DisposedITAT Bangalore09 Nov 2023AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

For Appellant: Shri Sanketh S. Nayak, A.RFor Respondent: Shri Nischal B., D.R

Section 139(1)Section 250Section 40Section 43B

…nsidering the issue whether the service tax collected and the remaining unpaid till the due date of furnishing Mr. Asraf Nafisa Althaf, Mangalore Page 5 of 21 of the return forms the part of the total income for the current year. (iii) DCIT v Manish M Chheda 29 SOT 138 – Mumbai ITAT 7.2.3 In the above case, the Hon’ble Mumbai Tribunal was considering the applicability of section 28(iv) of the I T Act. In the instant case, it is an admitted fact that during the course of assessee’s profession, a sum of Rs.29,60,000/- was realised/collected as service tax payable and the same is not capital receipt. The moment th…

M/S DELL INTERNATIONAL SERVICES INDIA PVT LTD ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX (LTU) , BANGALORE

In the result, the appeal filed by the assessee is partly allowed

ITA 2835/BANG/2017[2013-14]Status: DisposedITAT Bangalore20 Jan 2023AY 2013-14

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am It(Tp)A No.2835/Bang/2017 : Asst.Year 2013-2014 M/S.Dell International Services The Additional Commissioner India Private Limited Of Income-Tax (Ltu) V. Bangalore. Divyashree Greens, Sy.Nos.12/1, 12/2A & 13/1A,Challaghatta Village,Varthur Hobli Bengaluru – 560 071. Pan : Aaach1925Q. (Appellant) (Respondent) Appellant By : Sri.T.Suryanarayana, Advocate Respondent By : Sri.Praveen Karanth, Cit-Dr Date Of Pronouncement : 20.01.2023 Date Of Hearing : 13.01.2023 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 30.11.2017 Passed U/S 143(3) R.W.S. 144C Of The I.T.Act. The Relevant Assessment Year Is 2013-2014. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Company, Engaged In The Business Of Manufacturing & Trading In Computer Systems Including Support & Maintenance Services & Leasing Of Computers. For The Assessment Year 2013-2014, The Return Of Income Was Filed On 30.11.2013 Declaring Total Income Of Rs.22,31,24,760. The Assessment Was Selected For Scrutiny & Notice U/S 143(2) Of The I.T.Act Was Issued On 2 It(Tp)A No.2835/Bang/2017. M/S.Dell International Services India Private Limited. 11.09.2014. During The Course Of Assessment Proceedings, It Was Noticed That The International Transactions Entered By The Assessee With Its Associated Enterprises (Aes) Had Exceeded The Prescribed Limit, Hence, The Matter Was Referred To The Transfer Pricing Officer (Tpo) To Determine The Arm’S Length Price (Alp) Of The Said Transaction. The Tpo Passed Order U/S 92Ca Of The I.T.Act On 19.10.2016. In The Said Order, The Tpo Had Proposed Following Adjustments:-

For Appellant: Sri.T.Suryanarayana, AdvocateFor Respondent: Sri.Praveen Karanth, CIT-DR

Section 143(2)Section 143(3)Section 144CSection 40Section 92CSection 92C(3)

…the Act. The Hon'ble Delhi High Court was not considering the issue whether the service tax collected and the remaining unpaid till the due date of furnishing of the return forms the part of the total income for the current year. (iii) DCIT v. Manish M Chheda 29 SOT 138 - Mumbai ITAT 7.2.3 In the above case, the Hon'ble Mumbai Tribunal was considering the applicability of section 28(iv) of the I T Act. In the instant case, it is an admitted fact that during the course of assessee's profession, a sum of Rs. 29,60,000/- was realised/collected as service tax payable and the same is not capital receipt. The moment th…

SHREE SIDDHI VINAYAK INDUCTIONS PVT. LTD.,JAIPUR vs. DCIT, CENTRAL CIRCLE-3, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

ITA 1/JPR/2021[2015-16]Status: DisposedITAT Jaipur29 Aug 2022AY 2015-16

For Appellant: Sh. Manish Agarwal (CA)For Respondent: Sh. P. R. Meena (PCIT)

Section 143(3)Section 145(3)Section 36(1)(va)Section 40Section 43B

…he assessee and had directed the AO to deduct the service tax when the payment is made to the Govt. account in the subsequent year. ACIT v. Real Image Media Technologies (P) Ltd. (ITAT Chennai) Cit v Noble and Hewitt India (P) Ltd (Del): DCI v Manah M. Chheda 29 SOT 138-Mumbai ITAT, distinguished. (viii) It may further be mentioned that in the case of SVG Express Services Vs DCIT, similar issue was before the jurisdictional Hon'ble ITAT, Jaipur and vide its order dated 17.11.2016 in ITA No. 987/JP/2015 for the AY 2012-13, it was held by the Hon'ble ITAT that: "3.4 We have heard the rival contentions and perused…

M/S SHRI SIDDHI VINAYAK INDUCTION P. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

ITA 279/JPR/2019[2014-15]Status: DisposedITAT Jaipur29 Aug 2022AY 2014-15

For Appellant: Sh. Manish Agarwal (CA)For Respondent: Sh. P. R. Meena (PCIT)

Section 143(3)Section 145(3)Section 36(1)(va)Section 40Section 43B

SHREE SIDDHI VINAYAK INDUCTION PVT. LTD.,JAIPUR vs. DCIT, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

ITA 116/JPR/2017[2012-13]Status: DisposedITAT Jaipur29 Aug 2022AY 2012-13

For Appellant: Sh. Manish Agarwal (CA)For Respondent: Sh. P. R. Meena (PCIT)

Section 143(3)Section 145(3)Section 36(1)(va)Section 40Section 43B

MR.NANJUNDA RENUKA ARADHYA ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(2)(1), BANGALORE

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

ITA 397/BANG/2018[2010-11]Status: DisposedITAT Bangalore31 May 2022AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Nitish Ranjan, CAFor Respondent: Smt.Priyadarshini Basaganni, Addl.CIT-DR

Section 143(2)Section 194CSection 194C(2)Section 206ASection 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.397/Bang/2018 : Asst.Year 2010-2011 Mr.Nanjunda Renuka Aradhya The Assistant Commissioner # 81, BDA Shopping Complex of Income-tax, Circle 7(2)(1) v. Bengaluru. 2nd Floor, 6th Main, 14th Sector HSR Layout Bengaluru – 560 102. PAN : ADDPA2975Q (Appellant) (Respondent) Appellant by : Sri.Nitish Ranjan, CA Respondent by : Smt.Priyadarshini Basaganni, Addl.CIT-DR Date of Pronouncement : 31.05.2022 Date of Hearing : 26.05.2022 O R D E R Per George George K, JM : This appeal at the i…

SHRI. BORAIAH SHIVANANJAIAH,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 3(2)(1), BANGALORE

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

ITA 680/BANG/2020[2014-15]Status: DisposedITAT Bangalore11 Apr 2022AY 2014-15

Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Boraiah Shivananjaiah, Asst.Commissioner Of K. Janatha Colony, Income Tax, Bidadi Hobli, Vs. Circle - 3(2)(1) Ramnagara Dist., Bengaluru Bengaluru Pan – Anaps2762E Appellant Respondent

For Respondent: Assessee by Sri Sreehari Kutsa, Advocate

Section 143(3)Section 234ASection 250Section 36(1)(va)Section 43ASection 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES, “B” BENCH : BANGALORE Before Shri Chandra Poojari, AM & Smt. Beena Pillai, JM Boraiah Shivananjaiah, Asst.Commissioner of K. Janatha Colony, Income Tax, Bidadi Hobli, Vs. Circle - 3(2)(1) Ramnagara Dist., Bengaluru Bengaluru PAN – ANAPS2762E Appellant Respondent : Assessee by Sri Sreehari Kutsa, Advocate : Revenue by Sri Priyadarshini Mishra, Addl. CIT : Date of Hearing 31-03-2022 Date of Pronouncement : 11-04-2022 O R D E R PER CHANDRA POOJARI, A.M. : This appeal filed by the assessee is directed against the ex-parte order of the CIT(A)-3, Bengaluru da…

M/S IDS NEXT BUSINESS SOLUTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER PF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeal filed by the assessee is partly allowed

ITA 2119/BANG/2018[2011-12]Status: DisposedITAT Bangalore05 Jan 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2011-12

For Appellant: Shri Rampriyadas, CAFor Respondent: Shri Sankarganesh K, JCIT (DR)

Section 145ASection 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment year : 2011-12 M/s IDS Next Business Solutions Vs. The Dy. Commissioner of Income- Pvt. Ltd., tax, 490, R.T Nagar Main Road, Circle -3(1)(1), HMT Layout, Bengaluru. Bengaluru-560 032. PAN – AAACI 3832 R ASSESSEE REVENUE Revenue by : Shri Sankarganesh K, JCIT (DR) Assessee by : Shri Rampriyadas, CA Date of hearing : 05.01.2022 Date of Pronouncement : 05.01.2022 O R D E R Per Chandra Poojari, Accountant Member This appeal by the assessee is directed agai…

THE ACIT, KOCHI vs. M/S.KUNNEL ENGINEERS & CONTRACTORS P. LTD, KOCHI

ITA 653/COCH/2019[2012-13]Status: DisposedITAT Cochin19 May 2020AY 2012-13

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 43B

…the Act. The Hon’ble Delhi High Court was not considering the issue whether the service tax collected and the remaining unpaid till the due date of furnishing of the return forms the part of the total income for the current year. (iii) DCIT v Manish M Chheda 29 SOT 138 – Mumbai ITAT 7.2.3 In the above case, the Hon’ble Mumbai Tribunal was considering the applicability of section 28(iv) of the I T Act. In the instant case, it is an admitted fact that during the course of assessee’s profession, a sum of Rs.29,60,000/- was realised/collected as service tax payable and the same is not capital receipt. The moment th…

M/S WYZMINDZ SOLUTIONS PRIVATE LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-7(1)(4), BANGALORE

In the result, the appeal filed by the assessee is partly allowed

ITA 3417/BANG/2018[2014-15]Status: DisposedITAT Bangalore30 Jan 2020AY 2014-15

Bench: Shri Chandra Poojari

For Appellant: Sri.Mukesh Kumar, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Council for DR

Section 115JSection 143Section 143(2)Section 145ASection 2Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, BANGALORE Before Shri Chandra Poojari, Accountant Member ITA No.3417/Bang/2018 : Asst.Year 2014-2015 M/s.Wyzmindz Solutions The Income Tax Officer Private Limited Vs. Ward 7(1)(4) No.19/3, Srinivasa Industrial Bangalore. Estate, Kanakapura Main Road, Konanakunte Post Bangalore – 560 062. PAN : AABCW0126B. (Appellant) (Respondent) Appellant by : Sri.Mukesh Kumar, CA Respondent by : Sri.Ganesh R.Ghale, Standing Council for DR Date of Date of Hearing : 23.01.2020 Pronouncement : 30.01.2020 O R D E R This appeal filed by the assessee is directed against the order of…

CABLE CORPORATION OF INDIA LTD,MUMBAI vs. DCIT CIRCLE 2(1), MUMBAI

In the result, the appeal of the assessee is allowed

ITA 6558/MUM/2017[2010-11]Status: DisposedITAT Mumbai31 May 2019AY 2010-11

Bench: Shri Rajesh Kumar & Shri Amarjeet Singhassessment Year: 2010-11

For Appellant: Shri Perey Pareliwala, A.RFor Respondent: Shri Awangshi Gimson, D.R

Section 143(1)Section 2(24)Section 56

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “C”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJEET SINGH, JUDICIAL MEMBER Assessment Year: 2010-11 M/s. Cable Corporation of The Deputy India Ltd., Commissioner of Income 4th Floor, Laxmi Bldg., Tax, 6, Shoorji Vallabhdas Vs. Circle 2(1), Marg, Aayakar Bhavan, Ballard Estate, M.K. Road, Mumbai – 400 020 Mumbai - 400020 PAN: AAACC2936J (Appellant) (Respondent) Present for: Assessee by : Shri Perey Pareliwala, A.R. Shri Nitesh Joshi, A.R. Shri Nishit Khadri, A.R. Revenue by : Shri Awangshi Gimson, D.R. Date of Hearing : 27.02.2019 Date…

NERKA CHEMICALS P. LTD,GUJRAT vs. ASST CIT CEN CIR 38, MUMBAI

In the result this ground of appeal is allowed for statistical purpose

ITA 4423/MUM/2014[2009-10]Status: DisposedITAT Mumbai31 Aug 2018AY 2009-10

Bench: Shri R.C. Sharma, Accountant Mamber & Shri Pawan Singh

For Respondent: Sh. Girish Dave Special

Section 115Section 115JSection 14ASection 2(22)(a)Section 253Section 254(1)Section 28Section 56(1)

…371 ITR 280, Hon’ble Gujarat High Court in Prakriya Pharmacham (Spl.Civil Application No. 20492 of 2015), decision of Tribunal in DP World (P.) Ltd. Vs DCIT 140 ITD 694 (Mumbai), Rupee Finance Management (P) Ltd Vs ACIT (SOT 174) (Mum), DCIT Vs Manish Chedha (29 SOT 138). Against the contention of the revenue that Gift of UPL and UEL shares is colourable devise it was submitted that the aforesaid issue had come up for adjudication before the Tribunal in the case of the appeals filed by the donor entities. The Tribunal while deciding the appeals has consistently taken a view that the said transaction of gift of sh…

ASST CIT (OSD) -I CEN RG 7, MUMBAI vs. SUKHRAJ B NAHAR, MUMBAI

In the result, appeal filed by the revenue for assessment year

ITA 5730/MUM/2014[2006-07]Status: DisposedITAT Mumbai13 Oct 2017AY 2006-07

Bench: Shri G.S. Pannu (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2006-07 The Acit (Osd)-I, Shri Sukhraj B. Nahar, Central Range-7, B-1, Mahalaxmi Chambers, Room No. 413, 4Th Floor, 22, Bhulabhai Desai Road, Aayakar Bhavan, M.K. Marg, Vs. Mahalaxmi- 8, Mumbai - 400020 Mumbai – 400026 Pan: Aarpn9313R (Appellant) (Respondent) Revenue By : Shri A. Mohan (Cit) Assessee By : Shri Vimal Punamiya (Ar) Date Of Hearing: 18/09/2017 Date Of Pronouncement: 13/10/2017

For Appellant: Shri Vimal Punamiya (AR)For Respondent: Shri A. Mohan (CIT)

Section 139(1)Section 143Section 153ASection 28

…CIT(A) has deleted the addition relying on the following judgments/orders: i) CIT vs. Hind Construction Ltd.1974 CTR 157(SC), ii) CIT vs. Kunnamkulam Mill Board 257 ITR 544, iii) ITO vs. Paru D Dave 110 ITD 410 Mum. ( Tribunal) , iv) DCIT vs. Manish M Chheda 29 SOT 138 Mum. (Tribunal) and v) Girish Textile Industries vs. ACIT 10 SOT, Mum (Tribunal) 8. The concluding para of the impugned order passed by the Ld. CIT(A) reads as under: “12. In view of the above discussion, as also in view of the case laws discussed hereinabove, I hold that revaluation of assets by the partnership firm and crediting of his shares i…