DCIT v. Shree Ram Electrocast (P) Ltd.

84 Taxmann.com 63Reported decision2017#9901 most cited

What is DCIT v. Shree Ram Electrocast (P) Ltd. authority for?

A change in the head of loss from business to speculative loss does not automatically warrant an inference of concealment of income for the purpose of invoking penalty provisions.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2026.

Also referred to as

DCIT v. Shree Ram Electrocast · section 73 · section 43(5) · speculative loss · bona fide mistake · deletion of penalty · penalty proceedings initiated · change of head of loss · inaccurate particulars of income

Sections most often in play

Section 143(3)Section 154Section 270ASection 274

Issues it is cited on

section 271(1b)satisfaction for initiation of penaltyspeculation lossbona fide mistakesection 73speculative transactionsection 43(5)deletion of penaltysection 35dpenalty proceedings initiatedstatement under section 132(4)non application of mind

Judgments citing DCIT v. Shree Ram Electrocast (P) Ltd.

Inu Exports Private Limited, Mumbai vs. ITO 12(2)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 4070/MUM/2025[2017-18]Status: DisposedITAT Mumbai02 Jan 2026AY 2017-18

Bench: Shri Pawan Singh & Smt. Renu Jauhri(Hybrid Hearing) Inu Exports Private Limited Ito, 12(2)(2), Mumbai Room No. 145, 1St Floor, Aayakar Office No. 33, Shrinaman Plaza, Vs Behind Shoppers Stop Kandivali, Bhavan, M.K. Road, Mumbai, Maharashtra - 400067. Mumbai – 400020. [Pan: Aaaci 6806 M] Appellant / Assessee Respondent / Revenue

Section 143(3)Section 154Section 254(1)Section 270Section 270ASection 274

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SMT. RENU JAUHRI, ACCOUNTANT MEMBER (Hybrid hearing) INU Exports Private Limited ITO, 12(2)(2), Mumbai Room No. 145, 1st Floor, Aayakar Office No. 33, Shrinaman Plaza, Vs Behind shoppers Stop Kandivali, Bhavan, M.K. Road, Mumbai, Maharashtra - 400067. Mumbai – 400020. [PAN: AAACI 6806 M] Appellant / Assessee Respondent / Revenue Assessee by Shri Shubham Mittal, CA (virtually appear) Revenue by Shri R.A. Dhyani, CIT - DR Date of Institution 09.06.2025 Date of hearing 03.11.2025 Date of pronouncement 02.01.2026 Ord…

A2Z Infra Engineering Limited, Gurgaon vs. DCIT- Central Circle-2, Faridabad

In the result, the appeal of the assessee is allowed

ITA 943/DEL/2019[2013-14]Status: DisposedITAT Delhi28 Mar 2023AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

Infra Engineers Ltd., Gurgaon vs. DCIT, CC-2, Faridabad

In the result, the appeal of the assessee is allowed

ITA 942/DEL/2019[2012-13]Status: DisposedITAT Delhi28 Mar 2023AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

A2Z Infra Engineering Limited, Gurgaon vs. DCIT- Central Circle-2, Faridabad

In the result, the appeal of the assessee is allowed

ITA 941/DEL/2019[2011-12]Status: DisposedITAT Delhi28 Mar 2023AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

A2Z Infra Engineering Limited, Gurgaon vs. CCIT- Central Circle-2, Faridabad

In the result, the appeal of the assessee is allowed

ITA 940/DEL/2019[2010-11]Status: DisposedITAT Delhi28 Mar 2023AY 2010-11

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

A2Z Infra Engineering Limited, Gurgaon vs. DCIT CC-2, Faridabad

In the result, the appeal of the assessee is allowed

ITA 939/DEL/2019[2009-10]Status: DisposedITAT Delhi28 Mar 2023AY 2009-10

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

DCIT-Central Circle-2, Faridabad vs. A2Z Infra Engineers Ltd., Gurgaon

In the result, the appeal of the assessee is allowed

ITA 812/DEL/2019[2012-13]Status: DisposedITAT Delhi28 Mar 2023AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

DCIT CC-2, Faridabad vs. A2Z Maintenance and Engineering Services Ltd., Gurgaon

In the result, the appeal of the assessee is allowed

ITA 811/DEL/2019[2011-12]Status: DisposedITAT Delhi28 Mar 2023AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

A2Z Maintenance & Engineering Services Ltd., Gurgaon vs. DCIT, Central Circle-II, Faridabad

In the result, the appeal of the assessee is allowed

ITA 2631/DEL/2018[2008-09]Status: DisposedITAT Delhi28 Mar 2023AY 2008-09

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Ms. Ritu Kamal KishoreFor Respondent: Shri P. Praveen Sidharth, CIT-DR
Section 132Section 132(4)Section 153ASection 271(1)(c)Section 274

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI ANUBHAV SHARMA, JUDICIAL MEMBER I.T.As No.2631/DEL/2018 Assessment Years 2008-09 M/s. A2Z Maintenance & v. DCIT, Engineering Services Limited, Central Circle-II, B-404, Central Park, Faridabad. Sector-42, Gurgaon TAN/PAN: AAECA1203A (Appellant) (Respondent) I.T.A No.939, 940, 941, 942, 943/DEL/2019 Assessment Years 2009-10, 2010-11, 2011-12, 2012-13 & 2013-14 A2Z Infra Engineering Limited, v. DCIT, O-116 First Floor, Shopping Mall, Central Circle-II, Arjun Marg DLF, Phase-I, Faridabad, Gurgaon.…

DCIT 3(2)(1), Mumbai vs. Metmin Investments & Trading P.Ltd, Mumbai

In the result, appeals of the Revenue are dismissed

ITA 1489/MUM/2016[2007-08]Status: DisposedITAT Mumbai31 Oct 2017AY 2007-08

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Bledy. Commissioner Of Income-Tax 3(2)(1) V. M/S. Metmin Investments & Room No. 674, Trading Pvt. Ltd. Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021

For Appellant: Shri Haresh G. BuchFor Respondent: Shri G.N. Makawana
Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER Dy. Commissioner of Income-Tax 3(2)(1) v. M/s. Metmin Investments & Room No. 674, Trading Pvt. Ltd. Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021 PAN No: AACCM 2480 P (Appellant) (Respondent) Dy. Commissioner of Income-Tax 3(2)(1) v. M/s. Metmin Finance and Room No. 674, Holdings Pvt Ltd., Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021 PAN No…

DCIT 3(2)(1), Mumbai vs. Metmin Finance & Holdings P. Ltd, Mumbai

In the result, appeals of the Revenue are dismissed

ITA 1490/MUM/2016[2007-08]Status: DisposedITAT Mumbai31 Oct 2017AY 2007-08

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Bledy. Commissioner Of Income-Tax 3(2)(1) V. M/S. Metmin Investments & Room No. 674, Trading Pvt. Ltd. Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021

For Appellant: Shri Haresh G. BuchFor Respondent: Shri G.N. Makawana
Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER Dy. Commissioner of Income-Tax 3(2)(1) v. M/s. Metmin Investments & Room No. 674, Trading Pvt. Ltd. Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021 PAN No: AACCM 2480 P (Appellant) (Respondent) Dy. Commissioner of Income-Tax 3(2)(1) v. M/s. Metmin Finance and Room No. 674, Holdings Pvt Ltd., Aayakar Bhavan, M.K.Road, 161/162, Mittal Court, Mumbai-400 020 A Wing, Nariman Point Mumbai – 400 021 PAN No…