How many judgments cite Green Infra Ltd. v. ITO?

42 judgments on BharatTax cite Green Infra Ltd. v. ITO (38 Taxmann.com 253), spanning 2016 to 2024.

Which sections of the Income Tax Act does Green Infra Ltd. v. ITO come up under?

It is most often cited in judgments turning on Section 142A, Section 250, Section 56(2)(viib), Section 68.

Green Infra Ltd. v. ITO

38 Taxmann.com 253Income Tax Appellate Tribunal2013#2870 most cited

What is Green Infra Ltd. v. ITO authority for?

Share premium and share application money cannot be added as unexplained cash credits under Section 68 if the genuineness of the transaction and the creditworthiness and identity of the investors are established. The onus is on the revenue authorities to prove that the apparent nature of the receipt is not real.

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Also referred to as

Green Infra Ltd. v. ITO · Section 68 · Section 56(2)(viib) · share premium · share application money · cash credit · unexplained money · genuineness of transaction · creditworthiness of creditor · identity of investor · onus of proof · deletion of addition

Also reported as

145 ITD 240159 TTJ 728145 ITR 240

Sections most often in play

Section 142A Section 250 Section 56(2)(viib)Section 68

Issues it is cited on

section 56(1)section 56(2)(viib)share capital and share premium creditworthiness of the creditor share application money section 56(2)section 56 genuineness of the transaction fair market value transfer pricing adjustment section 133(6)addition u/s 68

Judgments citing Green Infra Ltd. v. ITO

M/S. YASHODA INN PRIVATE LIMITED. ,KOLKATA vs. DCIT, CIRCLE-7(1), KOLKATA. , KOLKATA

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1262/KOL/2023[2014-15]Status: DisposedITAT Kolkata20 Nov 2024AY 2014-15

Bench: Sri Rajpal Yadav & Sri Rakesh Mishra

Section 133(6)Section 143(3)Section 250Section 68

…the assessee submits any comments or furnishes further information, in that event, the Assessing Authority has to examine the same and arrive at his own conclusion.” Further reliance was also placed upon the decision in the cases of Green Infra Ltd. Vs. ITO, 145 ITD 240 (ITAT Mumbai) and CIT Vs. Anshika Consultants Pvt. Ltd. 62 taxmann.com 192 (Delhi HC). Ld. CIT(A) held that the amount of Rs. 54,00,000/- was received in the preceding year and not in the current year and only shares were allotted to Cheer Infrastructure Pvt. Ltd. within the year but money was received in the preceding year, therefore, a sum of R…

MEGAPIX VANIJYA PVT. LTD.,KOLKATA vs. I.T.O., WARD - 9(1), KOLKATA, KOLKATA

The appeal of the assessee is allowed

ITA 1151/KOL/2024[2012-2013]Status: DisposedITAT Kolkata18 Nov 2024AY 2012-2013

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. No.1151/Kol/2024 Assessment Year: 2012-13 Megapix Vanijya Pvt. Ltd……………………………………………..…..……Appellant C/O Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2Nd Floor, Kolkata – 700069. [Pan: Aahcm6624J] Vs. Ito, Ward-9(1), Kolkata............…....….…..….........……........……...…..…..Respondent Appearances By: Shri Siddharth Agarwal, Advocate, Appeared On Behalf Of The Appellant. Shri Pradip Biswas, Addl. Cit- Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : August 27, 2024 Date Of Pronouncing The Order : November 18, 2024 Order Per Sonjoy Sarma: The Present Appeal Is Filed By The Assessee Against The Order Dated 13.05.2024 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’) For Assessment Year 2012-13. 2. The Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income On 26.09.2012 By Declaring A Total Loss Of Rs.4,540/-. The Case Of The Assessee Was Selected For Scrutiny Due To Large Share Premium Received By The Assessee During The Relevant Financial Year. Consequently, The Assessing Officer Issued Notices U/S 142(1) & 142(2) Of The Act Requesting For Furnishing Requisite Information. In Response To The Notices, The Ld. Ar Of The Assessee Appeared Before The Assessing Officer & Provided Primary Details Including An Explanation That The Assessee Company Was Engaged In The Business Of Share Trading. Upon

Section 131Section 142(1)Section 143(3)Section 250Section 68

…o. 1160/Hyd/2012 in the case of ITO vs. M/s. Trident Shelters Pvt. Ltd. and the decision of Coordinate Mumbai I.T.A. No.1151/Kol/2024 Assessment Year: 2012-13 Megapix Vanijya Pvt. Ltd. Bench of the Tribunal in the case of Green Infra Ltd. vs. ITO reported in 145 ITR 240(Mum). The ld. AR argued that the shareholders were subjected to tax scrutiny u/s 143(3) and 147 of the Act in the previous assessment year and the Assessing Officer could not dispute identity and creditworthiness of these shareholders. Non-appearance of the directors of the company could not be the sole ground to justify for treating the share ap…

ACADEMY FOR GLOBAL EDUCATION SERVICES PRIVATE LIMITED,MUMBAI vs. ITO, MUMBAI

In the result, the appeal filed by the Assessee stands allowed

ITA 3860/MUM/2023[2011-12]Status: DisposedITAT Mumbai23 Sept 2024AY 2011-12

Bench: Shri Narender Kumar Choudhry & Shri Omkareshwar Chidaraassessment Year: 2011-12

For Appellant: Shri Vimal Punmiya, CAFor Respondent: Shri Manoj Kumar Sinha, SR. D.R

Section 133(6)Section 250

…of the transaction for the purpose of section 68 of the Act. We are of the view that CIT(A) has rightly deleted the addition on account of the share premium relying on the decision of Hon'ble Jurisdictional tribunal in case of Green Infra Ltd. Vs. ITO (2013) 145 ITR 240. It is a settled position that what is apparent is real unless proved otherwise. It is a settled legal position that "apparent is real" and the onus to prove that the apparent is not the real is on the party who claims it to be so as held by Hon'ble Supreme Court in case of CIT Vs. Daulat Ram Rawatmull (1973) 87 ITR 349. 12 M/s. Academy for Globa…

M/S JR FIBER GLASS INDUSTRIES PVT LTD,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE, MUMBAI

The appeal is allowed

ITA 2848/MUM/2023[2008-2009]Status: DisposedITAT Mumbai31 Jan 2024AY 2008-2009

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/S. Jr Fiber Glass Industries Pvt. Ltd.

For Appellant: Shri Satyaprakash SinghFor Respondent: Ms. Kavitha Kaushik (Sr. AR)

Section 133(6)Section 147Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No.2848/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2009-10) M/s. JR Fiber Glass Industries Pvt. Ltd. बनाम / National Faceless Appeal Vs. ACIT-Circle-4(3)(1) Centre Room No. 649, M. K. Road, Aayakar Bhavan, Mumbai. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACJ6312K (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) Assessee by: Shri Satyaprakash Singh Revenue by: Ms. Kavitha Kaushik (Sr. AR) सुनवाई की तारीख / Date of Hearing: 24/01/2024 घोषणा की तारीख /Date of Pronouncement: 31/01…

ITO, WARD-4(1), KOLKATA vs. M/S TARA RE-ROLLING PVT. LTD, KOLKATA

ITA 49/KOL/2021[2012-13]Status: DisposedITAT Kolkata01 May 2023AY 2012-13

Bench: Shri Sanjay Garg, Judical Member & Dr. Manish Boradi.T.A. No.49/Kol/2021 Assessment Year: 2012-13 Ito, Ward-4(1), Kolkata............................................................................Appellant Vs. M/S Tara Re-Rolling Pvt. Ltd..................................................................Respondent 1/1A, Vansittart Row, Dalhousie, 1St Floor, Room No.6A, Kolkata-1. [Pan:Aabct3982C] Appearances By: Shri Rajeeva Kumar, Adv., Appeared On Behalf Of The Appellant. Shri P. P. Barman, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : February 22, 2023 Date Of Pronouncing The Order : May 01, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 02.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue In This Appeal Is Aggrieved By The Action Of The Cit(A) In Deleting The Additions Made By The Assessing Officer In Respect Of Receipt Of Rs.4,53,50,000/- By The Assessee Company Which Was Treated By The Assessing Officer As Unexplained Income Of The Assessee U/S 68 Of The Act On The Ground That The Assessee Had Failed To Establish The Identity, Genuineness & Creditworthiness Of The Share Subscribers.

Section 131Section 133(6)Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी मनीष बोरड, लेखा सद"य के सम" Before Shri Sanjay Garg, Judical Member and Dr. Manish Borad, Accountant Member I.T.A. No.49/Kol/2021 Assessment year: 2012-13 ITO, Ward-4(1), Kolkata............................................................................Appellant vs. M/s Tara Re-Rolling Pvt. Ltd..................................................................Respondent 1/1A, Vansittart Row, Dalhousie, 1st Floor, Room No.6A, Kolkata-1. [PAN:AABCT3982C] Appearances by: Shri Rajeeva…

ITO, WARD-6(1), KOLKATA vs. M.D.ORNAMENTS (P) LTD, KOLKATA

ITA 646/KOL/2020[2012-13]Status: DisposedITAT Kolkata19 Apr 2023AY 2012-13

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.646/Kol/2020 Assessment Year: 2012-13 Ito, Ward-6(1), Kolkata...................……….........…..........….…… Appellant Vs. M/S M.D. Ornaments Pvt. Ltd..….....……........….....…...…..…..... Respondent 1/1A, Vansittart Row, Dalhousie, Kolkata-1. [Pan:Aaacd9561A] Appearances By: Shri Rajeeva Kumar, Adv., Appeared On Behalf Of The Appellant. Shri Vijay Kumar, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : February 09, 2023 Date Of Pronouncing The Order : April 19, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 02.09.2020 Of The Commissioner Of Income Tax (Appeals)-7, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Revenue In This Appeal Is Aggrieved By The Action Of The Cit(A) In Deleting The Additions Made By The Assessing Officer In Respect Of Receipt Of Rs.2,28,00,000/- By The Assessee Company Which Was Treated By The Assessing Officer As Unexplained Income Of The Assessee U/S 68 Of The Act On The Ground That The Assessee Had Failed To Establish The Identity, Genuineness & Creditworthiness Of The Share Subscribers.

Section 131Section 133(6)Section 142(1)Section 250Section 68

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH 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.646/Kol/2020 Assessment Year: 2012-13 ITO, Ward-6(1), Kolkata...................……….........…..........….…… Appellant vs. M/s M.D. Ornaments Pvt. Ltd..….....……........….....…...…..…..... Respondent 1/1A, Vansittart Row, Dalhousie, Kolkata-1. [PAN:AAACD9561A] Appearances by: Shri Rajeeva Kumar, Adv., appeared on behalf of the appellant. Shri Vijay Kumar, Addl.…

CYQUATOR MEDIA SERVICES PRIVATE LIMITED,MUMBAI vs. DCIT, RANGE .6(2)(1), MUMBAI

In the result, overall, the appeal of the Revenue in ITA No

ITA 4478/MUM/2017[2012-13]Status: DisposedITAT Mumbai06 Mar 2023AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Gagan Goyal, Am आयकर अपील सं/ I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) Dcit-6(2)(1) बिधम/ M/S. Cyquator Media R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. Aayakar Bhavan, M. K. 135, Continental Building, Road, Mumbai-400020. Dr. A. B. Road, Worli, Mumbai-400018. Cross Objection No. 302/Mum/2018 Arising Out Of I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Years: 2012-13) Cyquator Media Services बिधम/ Dcit-6(2)(1) Pvt. Ltd. Aayakar Bhavan, Vs. 18Th Floor, A Wing, Mumbai-400020. Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai-400013. आयकर अपील सं/ I.T.A. No.4478/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) M/S. Cyquator Media बिधम/ Dcit-6(2)(1) R. No. 504, 5Th Floor, Services Pvt. Ltd. Vs. 135, Continental Building, Aayakar Bhavan, M. K. Dr. A. B. Road, Worli, Road, Mumbai-400020 Mumbai-400018. Dcit-6(2)(1) R. No. 504, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaecp0069P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Jay Bhansali/Ms. Slachi Jain Revenue By: Shri H. N. Singh (Dr) & Mr. R. A. Dhyani (Sr. Ar) सुनवाई की तारीख / Date Of Hearing: 12/12/2022 घोषणा की तारीख /Date Of Pronouncement: 06/03/2023 C.O. 302/Mum/2018 A.Ys. 2012-13 Shri Cyquator Media Services Pvt. Ltd.

For Appellant: Shri Jay Bhansali/Ms. Slachi JainFor Respondent: Shri H. N. Singh (DR) & Mr. R

Section 143(3)Section 56Section 56(1)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI GAGAN GOYAL, AM आयकर अपील सं/ I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT-6(2)(1) बिधम/ M/s. Cyquator Media R. No. 504, 5th Floor, Services Pvt. Ltd. Vs. Aayakar Bhavan, M. K. 135, Continental Building, Road, Mumbai-400020. Dr. A. B. Road, Worli, Mumbai-400018. Cross Objection No. 302/Mum/2018 Arising out of I.T.A. No.4312/Mum/2017 (निर्धारण वर्ा / Assessment Years: 2012-13) Cyquator Media Services बिधम/ DCIT-6(2)(1) Pvt. Ltd. Aayakar Bhavan, Vs. 18th Floor, A Wing, Mumbai-400020. Marathon Fut…

DCIT, CIRCLE.6(2)(1), MUMBAI vs. CYQUATOR MEDIA SERVICES PRIVATE LIMITED, MUMBAI

In the result, overall, the appeal of the Revenue in ITA No

ITA 4312/MUM/2017[2012-13]Status: DisposedITAT Mumbai06 Mar 2023AY 2012-13

For Appellant: Shri Jay Bhansali/Ms. Slachi JainFor Respondent: Shri H. N. Singh (DR) & Mr. R

Section 143(3)Section 56Section 56(1)Section 68

ITO, WARD-12(1), KOLKATA vs. TRINETRA MERCHANTS(P) LTD., KOLKATA

ITA 570/KOL/2021[2012-13]Status: DisposedITAT Kolkata03 Nov 2022AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A No.570/Kol/2021 Assessment Year: 2012-13 Ito, Ward-12(1), Kolkata .......….…..…....................................................….. Appellant Vs. Trinetra Merchants (P) Ltd...............................................................…… …. Respondent 14A, Clive Row, 1St Floor, Dalhousie, Kolkata-1. [Pan: Aabct7086M] Appearances By: Shri Manish Tiwari, Fca, Appeared On Behalf Of The Appellant. Shri Partha Pratim Barman, Addl. Cit, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 12, 2022 Date Of Pronouncing The Order : November 03, 2022 आदेश / Order मनीष बोरड, लेखा सद"य "वारा / Per Manish Borad: This Appeal Filed By The Revenue Pertaining To The Assessment Year (In Short “Ay”) 2012-13 Is Directed Against The Order Passed U/S 250 Of The Income Tax Act, 1961 (In Short The “Act”) By Commissioner Of Income Tax (Appeals)-7, Kolkata [In Short Ld. “Cit(A)”] Dated 13.07.2020 Which Is Arising Out Of The Assessment Order Framed U/S 143(3) Of The Act Dated 10.03.2015. 2. Registry Has Informed That The Appeal Is Time Barred By 343 Days. Condonation Application Has Been Filed By The Revenue. Perusal Of The Same Shows That The Delay Was On Account Of Covid-19 Restrictions. We, Therefore, In View Of The Judgment Of The Hon’Ble Supreme Court Vide Miscellaneous Application No. 21 Of 2022 Find That The Limitation Period In Filing Appeal Between 15.03.2020 Till

Section 143(3)Section 250Section 68

…credit was uncalled for and the ld. CIT(A) has rightly deleted the same. In support of its contention, reliance was placed on following decisions: i) CIT vs. Gagandeep Infrastructure (P) Ltd. 80 taxmann.com 272 (Bombay) ii) Green Infra Ltd. vs. ITI, Ward1(1) 159 TTJ 728 iii) PCIT vs. Chain House International (P) Ltd. 98 taxmann.com 47; iv) CIT vs. Lovely Exports Ltd. (2008) 216 CTR 195 (SC); v) CIT vs. Kamdhenu Steel & Alloys Limited [ITA No.972 of 2009]; I.T.A No.570/Kol/2021 Assessment year: 2012-13 Trinetra Merchants (P) Ltd. vi) DCIT vs. Rohini Builders 127 Taxman 523; vii) CIT vs. Orissa Coprn (P) Ltd. 1…

DCIT 1(1)(2), MUMBAI vs. GREEN INFRA LTD, MUMBAI

In the result, appeal by the Revenue is dismissed

ITA 7529/MUM/2016[2012-13]Status: DisposedITAT Mumbai26 Sept 2022AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Vartik ChoksiFor Respondent: Shri Ashok Kumar Kardam

Section 250Section 260ASection 56(1)Section 61Section 78(2)

…Bench in assessee’s own case in preceding assessment year. 8. We have considered the rival submissions and perused the material available on record. We find that the Co–ordinate Bench of the Tribunal in assessee’s own case in Green Infra Ltd. v/s ITO, [2013] 145 ITD 240 (Mum. Trib.), for the A.Y. 2009–10, while deciding similar issue in favour of the assessee observed as under:– Green Infra Ltd. ITA No.7529/Mum./2016 “10. We have considered the rival submissions and carefully perused the orders of the lower authorities and the material evidences brought on record in the form of Paper book. The entire dispute rev…

PAATH FINANCIAL SERVICES PVT LTD.,MUMBAI vs. ITO 15 (1)(4), MUMBAI

ITA 6833/MUM/2019[2015-16]Status: DisposedITAT Mumbai05 Sept 2022AY 2015-16

For Appellant: Mr.Poojan Mehta.ARFor Respondent: Mr.Soumendu Kumar

Section 143(1)Section 143(2)Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & PAVAN KUMAR GADALE, JUDICIAL MEMBER Paath Financial Services Vs. ITO – 15(1)(4) Pvt Ltd., Aayakar Bhavan, Flat No.4, Sai Krupa M.K Raod, Chawl, Rawalpada, Churchgate, Ganesh Nagar, Mumbai – 400020. Dahisar(E), Mumbai – 400068. PAN/GIR No. : AAHCP2103K Appellant .. Respondent Appellant by : Mr.Poojan Mehta.AR Respondent by : Mr.Soumendu Kumar Dash.DR Date of Hearing 15.07.2022 Date of Pronouncement 09.09.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The assessee has filed the appeal against the order of…

ITO 14(3)(3), MUMBAI vs. SEJIMA TEXYARN P. LTD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1725/MUM/2017[2012-13]Status: DisposedITAT Mumbai29 Aug 2022AY 2012-13

Bench: Shri Prashant Maharshi () & Kavitha Rajagopal () Ito-14(3)(3), Mumbai Vs M/S Sejima Texyarn Pvt Ltd 453, Aayakar Bhavan 22, Vikram Apartments, New 4Th Floor, M.K. Marg Maneklal Estate, Ghatkopar (W) Mumbai-400 020 Mumbai 400 086 Pan : Aalcs7629H Appellant Respondent

Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE SHRI PRASHANT MAHARSHI (ACCOUNTANT MEMBER) & KAVITHA RAJAGOPAL (JUDICIAL MEMBER) ITO-14(3)(3), Mumbai vs M/s Sejima Texyarn Pvt Ltd 453, Aayakar Bhavan 22, Vikram Apartments, New 4th Floor, M.K. Marg Maneklal Estate, Ghatkopar (W) Mumbai-400 020 Mumbai 400 086 PAN : AALCS7629H APPELLANT RESPONDENT Assessee represented by Shri Mehul Shah Department represented by Shri Hoshang B Irani – (DR) Date of hearing 01/06/2022 Date of pronouncement 29/08/2022 ORDER Per Kavitha Rajagopal (JM): This appeal has been filed by the Revenue as against the or…

INCOME TAX OFFICER, WARD 5(3),, NAGPUR vs. M/S. 21ST CENTURY INFRASTRUCTURE (INDIA) PVT. LTD., NAGPUR

In the result, the appeal of the Department is dismissed

ITA 207/NAG/2017[2012-13]Status: DisposedITAT Nagpur28 Jun 2022AY 2012-13

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am

For Appellant: Shri MahaveerAtal, CAFor Respondent: ShriPiyushKohle, CIT-DR

Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 56

…IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SANDEEP GOSAIN, JM & SHRI ARUN KHODPIA, AM I.T.A. No. 207/NAG/2017 Assessment Year : 2012-13 Vs. M/s. 21st Century Infrastructure (India ) The Income Tax Officer Ward 5 (3) Pvt. Ltd. Nagpur Old Motor Stand, Itwari, Nagpur PAN No.:AAACZ 1371 L Appellant Respondent Revenue by:ShriPiyushKohle, CIT-DR Assessee by: Shri MahaveerAtal, CA Date of Hearing: 25/04/2022 Date of Pronouncement: 28 /06/2022 ORDER PER: SANDEEP GOSAIN, J.M. The Department has filed an appeal against the order of the ld. CIT(A)-4, Nagpur dated 29-03-2017 for the assessment yea…

THE DY. COMMR. OF INCOME TAX, CIR.-1(1), RAJKOT-GUJARAT vs. M/S REAL PROCON PVT. LTD.,, RAJKOT-GUJARAT

In the result, appeal of the Revenue is dismissed

ITA 498/RJT/2015[2012-13]Status: DisposedITAT Rajkot29 Apr 2022AY 2012-13

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedअपील सं./Ita No.498/Rjt/2015 िनधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T., M/S Real Procon Pvt. Ltd., Circle-1(1), Vs. Saneshwar Complex, Rajkot. Opp. Balalji Hall, 150 Ft. Ring Road, Rajkot.

For Appellant: Shri Kalpesh Doshi, A.RFor Respondent: Shri S.S. Rathi, Sr.D.R

Section 133(6)Section 133ASection 68

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT (CONDUCTED THROUGH E-COURT AT AHMEDABAD) BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER अपील सं./ITA No.498/Rjt/2015 िनधा"रण वष"/Asstt. Year: 2012-2013 D.C.I.T., M/s Real Procon Pvt. Ltd., Circle-1(1), Vs. Saneshwar Complex, Rajkot. Opp. Balalji Hall, 150 ft. Ring Road, Rajkot. PAN: AAECR8684A (Applicant) (Respondent) Revenue by : Shri S.S. Rathi, Sr.D.R Assessee by : Shri Kalpesh Doshi, A.R सुनवाई क" तारीख/Date of Hearing : 22/03/2022 घोषणा क" तारीख /Date of Pronouncement:27/04…

DEPUTY COMMISSIONER OF INCOME TAX-4(3)(1), MUMBAI vs. QMAX SYNTHETICS PRIVATE LIMITED, MUMBAI

ITA 4378/MUM/2017[2008-09]Status: DisposedITAT Mumbai27 Apr 2022AY 2008-09

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailacit-4(3)(1) Vs. M/S Qmax Synthetics R. No. 649, 6Th Floor, Pvt. Ltd., 5-B/174, Aayakar Bhavan, Sanjay Building, Mittal Mumbai – 400 020 Industrial Estate, Andheri (E), Mumbai 400 059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacq0206D Respondent .. Appellant

For Appellant: Ashok BansalFor Respondent: T. Shankar

Section 133(6)Section 143(3)Section 148Section 68

…1 ITA No.4378/Mum/2017 A.Y.2008-09 ACIT-4(3)(1) Vs. M/s Qmax Synthetics pvt. Ltd. THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER & SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ACIT-4(3)(1) Vs. M/s Qmax Synthetics R. No. 649, 6th Floor, Pvt. Ltd., 5-B/174, Aayakar Bhavan, Sanjay Building, Mittal Mumbai – 400 020 Industrial Estate, Andheri (E), Mumbai 400 059 "थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACQ0206D Respondent .. Appellant Appellant by : Ashok Bansal Respondent by : T. Shankar Date of Hearing 23.02.2022 Date of Pronouncement 27.04.2022 आदेश / O R D E…

VARAD VINAYAK REALTY PVT. LTD,MUMBAI vs. ITO WARD 1 (3)-2, MUMBAI

In the result, the appeal of the revenue is dismissed and cross objection and cross appeal of the assessee are allowed

ITA 612/MUM/2019[2009-10]Status: DisposedITAT Mumbai12 Jan 2022AY 2009-10

Bench: Shri Laliet Kumar& Shri S. Rifaur Rahmanito, 11-3(2), Room No. 428, Aayakar Bhavan, M.K. Road, Mumbai-400020 ............ Appellant Vs. M/S Varad Vinayak Realty P. Ltd., 105, Vastushilp, Rajmata Jijabai Road, Pump House, Andheri (E), Mumbai-400093 Pan: Aabcv7419A ............ Respondent C.O. No. 50/Mum/2019 In Ita No.5279/Mum/2017 (A.Y.2009-10) M/S Varad Vinayak Realty P. Ltd., 105, Vastushilp, Rajmata Jijabai Road, Pump House, Andheri (E), Mumbai-400093 Pan: Aabcv7419A ............ Appellant Vs. Ito, 11-3(2), Room No. 428, Aayakar Bhavan, M.K. Road, Mumbai-400020 ............ Respondent

For Appellant: Sh. S.N. Kabra, Sr. DRFor Respondent: Sh. Pawan Chakrapani, AR

Section 68

…hares at Rs.2000/- (100 + 1900). Moreover, I find substantial strength in the averment of the Appellant that amendment to sec. 56(2)(viib) is effective only from A.Y. 2013-14. This view is also strengthen by the ratio of order in the case of Green Infra Ltd. (145 ITD 240) (Mum). Respectfully following recent judgement of jurisdictional High court in the case of CIT Vs. Gangadeep Infrastructure Pvt. Ltd. (2017) 80 Taxmann.com 272 (Bom HC). I also find that various case laws relied upon by the Appellant substantially advance the case of the Appellant in this regard. Moreover, amendment to sec. 68 is also w.e.f. A.Y…

INCOME TAX OFFICER 11(3)(2), MUMBAI vs. VARAD VINAYAK REALTY PRIVATE LIMITED, MUMBAI

In the result, the appeal of the revenue is dismissed and cross objection and cross appeal of the assessee are allowed

ITA 5279/MUM/2017[2009-10]Status: DisposedITAT Mumbai12 Jan 2022AY 2009-10

For Appellant: Sh. S.N. Kabra, Sr. DRFor Respondent: Sh. Pawan Chakrapani, AR

Section 68

…ad Vinayak Realty P. Ltd. 1900). Moreover, I find substantial strength in the averment of the Appellant that amendment to sec. 56(2)(viib) is effective only from A.Y. 2013-14. This view is also strengthen by the ratio of order in the case of Green Infra Ltd. (145 ITD 240) (Mum). Respectfully following recent judgement of jurisdictional High court in the case of CIT Vs. Gangadeep Infrastructure Pvt. Ltd. (2017) 80 Taxmann.com 272 (Bom HC). I also find that various case laws relied upon by the Appellant substantially advance the case of the Appellant in this regard. Moreover, amendment to sec. 68 is also w.e.f. A.Y…

MAHENDRA H. SHAH ,MUMBAI vs. ITO - WARD- 4 (1)(3), MUMBAI

ITA 6892/MUM/2018[2012-13]Status: DisposedITAT Mumbai27 Sept 2021AY 2012-13

Bench: Shri C.N. Prasad, Hon’Bleshri Mahendra H. Shah V. Income Tax Officer – 4(1)(3) 6Th Floor, Aayakar Bhavan C/O. The Presscopper Industries M.K. Road, Mumbai - 400020 175, Kika Street Mumbai – 400004 Pan: Aafps0929R (Appellant) (Respondent)

For Appellant: Vimal PunmiyaFor Respondent: Smita Verma

Section 132(4)Section 133(4)Section 143(1)Section 143(2)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “SMC” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON’BLE JUDICIAL MEMBER Shri Mahendra H. Shah v. Income Tax Officer – 4(1)(3) 6th Floor, Aayakar Bhavan C/o. The Presscopper Industries M.K. Road, Mumbai - 400020 175, Kika Street Mumbai – 400004 PAN: AAFPS0929R (Appellant) (Respondent) Assessee by : Vimal Punmiya Department by : Smita Verma Date of hearing : 29.07.2021 Date of pronouncement : 27.09.2021 O R D E R PER C.N. PRASAD (JM) 1. This appeal is filed by the assessee against order of the Learned Commissioner of Income Tax (Appeals)–2, Mumbai [hereinafter…

MESERS HIM AGRI FESH PVT. LTD,JALANDHAR vs. INCOME TAX OFICER WARD-1(2), JALANDHAR

The appeal of the assessee is allowed for statistical purposes

ITA 224/ASR/2018[2014-15]Status: DisposedITAT Amritsar07 Jul 2021AY 2014-15

Bench: Sh. Laliet Kumar & Dr. M. L. Meenai.T.A. No. 224/Asr/2018 Assessment Year: 2014-15

…e stored for procurement. It was stated by the assessee that no fair market value was required to be calculated under Rule 11UA of the Income Tax Rules. In its support, the assessee has placed reliance on the case of Green Infra Ltd Vs ITO, ITAT Mumbai Bench, 38 Taxmann.com 253. The assessing officer noted that the case referred and relied upon by the assessee pertained to assessment year 2009-10 prior to introduction of new provisions in the Income Tax Act i.e. Sec56 (2)(viib) read with Rule 11UA which was introduced w.e.f 29.11.2012. The case of the assessee under appeal is assessment 2014-15, therefore, the am…

ASST CIT CIT 1, THANE vs. BAYER SHEETS INDIA P.LTD, MUMBAI

In the result, appeal of the Revenue is partly allowed

ITA 2170/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 Apr 2021AY 2011-12

Bench: Us At The Time Of Hearing. The Same Is Reckoned As A Statement Made From The Bar. Accordingly, The Ground No. 2 Raised By The Revenue Is Allowed.

Section 143(3)Section 56(1)Section 56(2)(viib)Section 78

…f the FAA. Effective ground of appeal is decided in favour of the assessee. As a result, appeal filed by the assessee stands allowed. 4.7. We also find that the similar view has been taken by this Tribunal in the case of Green Infra Ltd., vs. ITO reported in 38 Taxmann.com 253. The relevant operative portion of the said order is reproduced hereunder:- 10. We have considered the rival submissions and carefully perused the orders of the lower authorities and the material evidences brought on record in the form of Paper book. The entire dispute revolves around the charging of share premium of Rs. 490/- per share o…

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