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#2834 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 366,339 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

Digvijay Advisor Pvt. Ltd, Ghaziabad Up vs. ITO Ward-7(3), New Delhi

In the result, the appeal of the assessee is allowed

ITA 4540/DEL/2019[2008-09]Status: DisposedITAT Delhi16 Apr 2021AY 2008-09

Bench: Shri R.K. Pandaassessment Year : 2008-09

For Appellant: Sh. Akhilesh Kumar, AdvocateFor Respondent: Sh. Farat Khan, Sr. DR

Section 143(2)Section 143(3)Section 147Section 148Section 149Section 68Section 69C

…eted. i. CIT V GANGESHWARI METALS P. LTD [2014] 361 ITR 10 (DEL) ii. PSYCHOTROPICS LEASING & FINANCE (P) LTD. V. ITO (ITA NO. 1122/D/14) (DATED11.10.2018) iii. RATHI CERAMICS PVT. LTD. V. ITO (ITA NO. 4540/DEL/2014) (04.02.2019) iv. GREEN INFRA LTD. V ITO 145 ITD 240(MUMBAI)--AFFIRMED IN [2017] 78 TAXMANN.COM 340 (BOMBAY)/[2017] 392 ITR 7 (BOMBAY) 8 9. He accordingly submitted that both legally and factually, the addition made by the Assessing Officer and upheld by the learned CIT(A) is not justified. 10. The learned DR on the other hand, heavily relied on the order of the learned CIT(A). He submitted that…

Sri Sakthi Textiles Limited, Coimbatore vs. DCIT Corporate Circle 1, Coimbatore

In the result, appeal filed by assessee is allowed

ITA 1228/CHNY/2019[2013-14]Status: DisposedITAT Chennai01 Feb 2021AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri G.Manjunatha

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी धु"वु" आर.एल रे"डी, "या"यक सद!य एवं "ी जी.मंजुनाथ, लेखा सद!य के सम' BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI G.MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A No.1228/Chny/2019 ("नधा"रणवष" / Assessment Year:2013-14) M/s. Sri Sakthi Textiles Ltd Vs The Deputy Commissioner of Post Box No.36,Mills Premises, Income Tax, Pollachi, Corporate Circle-1, Coimbatore. Coimbatore-642 001. PAN : AACCS 7189R (अपीलाथ"/Appellant) ""यथ"/Respondent/ : Mr. R.Vijayaraghavan, अपीलाथ"क"ओरसे/ Appellant by Advocate : Mr. S…

Income Tax Officer 15(3)(2), Mumbai vs. M/S.Vishwakarma Structure Private Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 1179/MUM/2019[2009-10]Status: DisposedITAT Mumbai21 Jan 2021AY 2009-10

Bench: Shri Rajesh Kumar & Shri Amarjit Singh: A.Y : 2009-10

For Appellant: Shri Neelkhant KhandelwalFor Respondent: Ms. Usha Gaikwad

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

…ma Structure Pvt. Ltd. Officer in making addition of Rs.1,90,00,000/- as the same was made on the basis of suspicion and surmises. He finally relied on various decisions referred to in the appellate order such as Green Infra Ltd. vs Income Tax Officer, [2013] 145 ITD 240 (Bombay), CIT vs Gagandeep Infrastructure P. Ltd., 394 ITR 680 (Bombay) and CIT vs Daulat Rawatmull, 87 ITR 349 (SC) and decided the appeal in favour of the assessee by holding that assessee has provided all the evidences to the Assessing Officer and thus discharged the onus of proving the genuineness of the transactions and identity and creditwo…

Adani Agro Pvt. Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, the assessee appeal is thus allowed

ITA 1809/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2009-10

Bench: Shri O. P. Meena& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Parin ShahFor Respondent: 17.09.2019

Section 115JSection 143(3)Section 14ASection 234BSection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI O. P. MEENA, ACCOUNTANT MEMBER& Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No.1809/Ahd/2012 (Assessment Year : 2009-10) Adani Agro Pvt. Ltd., Vs. DCIT, 8th Floor, Shikhar Nr. Circle – 1, Mithakhali Six Roads, Ahmedabad. Navrangpura, Ahmedabad – 380 009. [PAN No.AABCA 3183 G] (Appellant) (Respondent) .. Appellant by : Shri S. N. Soparkar, Sr. Advocate with Parin Shah Shri L. P. Jain, Sr.D.R. Respondentby: 17.09.2019 Date of Hearing Date of Pronouncement 20.09.2019 O R D E R PER Ms. MADHUMITA ROY - JM: The instant appeal filed by the ass…

Income-Tax Officer vs. Akash Farms Pvt. Ltd., Aurangabad

In the result, the appeal of the Revenue is dismissed

ITA 1482/PUN/2016[2012-13]Status: DisposedITAT Pune12 Jul 2019AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita No.1482/Pun/2016 िनधा"रण वष" / Assessment Year : 2012-13 Ito, Ward-1(1), .......अपीलाथ" / Appellant Aurangabad. बनाम / V/S. M/S. Akash Farms Llp, Nath House, Paithan Road, Aurangabad. ……""यथ" / Respondent Pan : Aadca3303J Revenue By : Smt. Shabana Parveen Assessee By : Shri N. R. Agarwal सुनवाई क" तारीख / Date Of Hearing : 15.05.2019 घोषणा क" तारीख / Date Of Pronouncement : 12.07.2019 आदेश / Order Per D. Karunakara Rao, Am: This Appeal Is Filed By The Revenue Against The Order Of The Cit(A)- 1, Aurangabad Dated 29.04.2016 For The Assessment Year 2012-13. 2. The Revised Grounds Raised By The Revenue Are As Under :- “1. The Ld. Commissioner Of Income-Tax (A)-1 Erred In Passing The Order Both On The Facts Of The Case & In Law. 2. The Ld. Commissioner Of Income-Tax (A)-1 Erred In Failing To Give To The A.O. Reasonable Opportunity Required To Be Given To The A.O. As Per Rule 46A(3) As Only Seven Days Were Given To The A.O. For Examining & Rebutting The Considerable Additional Evidence Produced By The Assessee & For Submitting The Remand Report & The Order Was Passed By Cit(A) On The Very Next Day After The Remand Report Was Due. 3. The Ld. Commissioner Of Income-Tax (A)-1 Erred In Not Upholding The Addition Of Rs.42608528/- In Light Of The Decision By The Hon’Ble Supreme Court In The Case Of Pcit Vs Nra Iron & Steel (P) Ltd. (Reported In 103 Taxmann.Com 48) As In The Instant Case The Investor Company Was In Loss Of Rs.65,459/- & Had Negative Figures Of Reserve & Surplus Of Rs.3.60 Crores.

For Appellant: Shri N. R. AgarwalFor Respondent: Smt. Shabana Parveen

Section 143(3)Section 68

…आयकर अपीलीय अिधकरण “ए” "यायपीठ पुणे म" । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE "ी डी. क"णाकरा राव, लेखा सद"य एवं "ी िवकास अव"थी, "याियक सद"य के सम" BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM आयकर अपील सं. / ITA No.1482/PUN/2016 िनधा"रण वष" / Assessment Year : 2012-13 ITO, Ward-1(1), .......अपीलाथ" / Appellant Aurangabad. बनाम / V/s. M/s. Akash Farms LLP, Nath House, Paithan Road, Aurangabad. ……""यथ" / Respondent PAN : AADCA3303J Revenue by : Smt. Shabana Parveen Assessee by : Shri N. R. Agarwal सुनवाई क" तारीख / Date of Hearing : 15.05.2019 घोषणा क" तारीख / Date of Pronouncement :…

M/S. Tara Mercantile Pvt. Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 1572/DEL/2017[2011-12]Status: DisposedITAT Delhi12 Jul 2019AY 2011-12

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

For Appellant: Sh. Gautam Jain, AdvFor Respondent: Sh. S.S. Rana, CIT(DR)

Section 142(1)Section 143(2)Section 143(3)Section 56(2)(viib)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.A. No. 1572/DEL/2017 A.Y. : 2011-12 M/S TARA MERCANTILE PVT. LTD. VS. DCIT, CIRCLE 16(1), 314-315, PP TOWER, NEW DELHI NETAJI SUBHASH PLACE, PITAMPURA, NEW DELHI – 34 (PAN: AAACT2680C) (APPELLANT) (RESPONDENT) Assessee By : Sh. Gautam Jain, Adv. Department By : Sh. S.S. Rana, CIT(DR) ORDER PER H.S. SIDHU : JM This appeal by the Assessee is directed against the impugned order dated 19.1.2017 passed by the Ld. CIT(A)-9, New Delhi on the following grounds:- 1. The…

Aura Securities Pvt. Ltd., Ahmedabad vs. Dy. Commissioner of Income Tax, Ahmedabad

In the result the appeal of the assessee is allowed

ITA 3462/AHD/2014[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R

Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B’ ’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, JUDICIAL MEMBER आयकर अपील सं./ITA No.834/AHD/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 DCIT, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/h, Vadilal Ahmedabad. s. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 PAN: AABCT4637N आयकर अपील सं./ITA No.986/AHD/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. ACIT, Akhay Building, B/h, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-…

Aura Securities Pvt.Ltd., Ahmedabad vs. The ACIT., Circle-1, Ahmedabad

In the result the appeal of the assessee is allowed

ITA 986/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R

Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

D.C.I.T. - 15(1)(1), Mumbai vs. Academy for Global Education Services Pvt. Ltd., Mumbai

In the result, the appeal of Revenue is dismissed

ITA 1134/MUM/2018[2012-13]Status: DisposedITAT Mumbai21 May 2019AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Aayakr Apila Sam./ Ita No. 1134/Mum/2018 (Inaqa-Arna Baya- / Assessment Year 2012-13) The Dy. Commissioner Of Academy For Global Income Tax, Circle 15(1)(1) Education Services Pvt. Ltd, Room No. 470, 4Th Floor, C-09, Konark Indraprastha, Vs. Aayakar Bhavan, Mumbai Sarvoday Nagar, Naur Village, Mulund (W), Mumbai-400 080 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा सं./Pan No. Aahca2596F अपीलाथी की ओर से / Appellant By : Shri B. S. Bist, Dr प्रत्यथी की ओर से / Respondent By : Shri Dinesh R. Shah, Ar सुनवाई की तारीख / Date Of Hearing: 09-05-2019 घोषणा की तारीख / Date Of Pronouncement : 21-05-2019

For Appellant: Shri B. S. Bist, DRFor Respondent: Shri Dinesh R. Shah, AR

Section 143(3)Section 68

…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. 13. In the present case,…

Capri Global Advisory Services P. Ltd, Mumbai vs. DCIT 1(1)(1), Mumbai

ITA 170/MUM/2017[2009-10]Status: DisposedITAT Mumbai10 Apr 2019AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Jitendra Jain/Mahesh Rajora-Ld.ARsFor Respondent: Abhi Rama Kartikeyan - Ld.DR

Section 143(3)Section 147Section 147rSection 148Section 68

…1 आयकर अपीलीय अिधकरण “सी” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI माननीय "ी महावीर िसंह, "ाियक सद" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.170/Mum/2017 (िनधा"रण वष" / Assessment Year:2009-10) M/s. Capri Global Advisory Services Pvt. Ltd. Dy. Commissioner of Income Tax-1(1)(1) 1B, 1st Floor, Court Chambers बनाम/ Mumbai-400 020. 35, Sir V.T. Road, New Marine Lines Vs. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCP-2478-C (अपीलाथ"/Appellant) (""थ" / Respondent)…

DCIT 4(3)(1), Mumbai vs. Patodia Filaments P. Ltd, Mumbai

ITA 5684/MUM/2017[2010-11]Status: DisposedITAT Mumbai26 Mar 2019AY 2010-11

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

For Appellant: Shri Mani Jain, A.RFor Respondent: Shri Abi Rama Kartikeyan, D.R

Section 115JSection 148Section 68

…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 DCIT 4(3)(1), M/s. Patodia Filaments P. Room No.649, 6th Floor, Ltd., Aayakar Bhavan, A-604, 6th Floor, M.K. Road, Express Zone, Mumbai - 400020 Vs. Opp. Oberoi Mall, Western Express Highway, Goregaon (E), Mumbai – 400 063 PAN: AABCP8673J (Appellant) (Respondent) Present for: Assessee by : Shri Mani Jain, A.R. Revenue by : Shri Abi Rama Kartikeyan, D.R. Date of Hearing : 25.02.2019 Date of Pronouncement : 26.03.2019 O R D E R Per Rajesh K…

DCIT 4(1)(2), Mumbai vs. Ab & Co Global P. Ltd, Mumbai

ITA 3280/MUM/2017[2012-13]Status: DisposedITAT Mumbai30 Jan 2019AY 2012-13

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2012-13 Dcit-4(1)(2), Room No. 640, M/S Ab & Co. Global 6Th Floor, Aayakar Bhavan, Vs. Pvt. Ltd. 30, 2Nd Floor, M.K. Road, Mumbai-400020. Gopal Bhuvan, 199, Princess Street, Kalbadevi Road, Mumbai-400002. Pan No. Aaeca1095J Appellant Respondent Revenue By : Mr. Satish Chandra Rajore, Dr Assessee By : Mr. Jitendra Singh, Ar Date Of Hearing : 09/01/2019 Date Of Pronouncement : 30/01/2019

For Appellant: Mr. Jitendra Singh, ARFor Respondent: Mr. Satish Chandra Rajore, DR

Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI JOGINDER SINGH (VICE PRESIDENT) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2012-13 DCIT-4(1)(2), Room No. 640, M/s AB & Co. Global 6th Floor, Aayakar Bhavan, Vs. Pvt. Ltd. 30, 2nd floor, M.K. Road, Mumbai-400020. Gopal Bhuvan, 199, Princess Street, Kalbadevi Road, Mumbai-400002. PAN No. AAECA1095J Appellant Respondent Revenue by : Mr. Satish Chandra Rajore, DR Assessee by : Mr. Jitendra Singh, AR Date of Hearing : 09/01/2019 Date of pronouncement : 30/01/2019 ORDER PER N.K. PRADHAN, AM This is an appeal filed by the Reven…

DCIT 6(3)(1), Mumbai vs. Iron Mountain India P.Ltd, Mumbai

In the result, the Revenue’s appeal and the assessee’s cross objection are allowed

ITA 5842/MUM/2016[2009-10]Status: DisposedITAT Mumbai22 Oct 2018AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

For Appellant: Shri Jigar SaiyaFor Respondent: Shri Choudhary Arunkumar Singh

Section 147Section 148Section 56(2)(viib)Section 68

…income of the assessee. 8. Upon the assessee’s appeal, the ld. CIT(A) noted the assessee’s argument that all the information regarding the share applicants was already furnished. He referred to the ITAT decision in the case of Green Infra Ltd. vs. ITO [2014] 159 TTJ 728 (Mum), as under: 4 ITA No. 5842/M/2016 & CO No. 233/M/2018 “Therefore, considering the entire issue in the light of the material evidence brought on record, in our considerate view, the Revenue authorities have erred in treating the share premium as income of the assessee u/s. 56(1) of the Act. In our considerate view, for the reasons discussed…

ITO 4(1)(4), Mumbai vs. Cincom Trading P.Ltd, Mumbai

In the result, this appeal by the Revenue stands allowed for statistical purpose

ITA 4520/MUM/2016[2011-12]Status: DisposedITAT Mumbai22 Oct 2018AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

For Appellant: Shri Chaudhary Arunkumar SinghFor Respondent: Shri S. C. Tiwari & Rutuja Pawar

Section 133(6)Section 68

…CIT vs. Lovely Exports (P) Ltd. [2008] 216 CTR 195 (SC). He referred to certain case laws for the proposition that the share premium cannot be treated as revenue receipt. He referred to the decision of the ITAT, Mumbai in the case of Green Infra Ltd. vs. ITO 159 TTJ 728 (Trib-Mum). He also found that the provision of section 56(2)(viia) and 56(2)(viib) cannot be applied for the impugned assessment year as they are applicable for assessment year 2013-14 onwards. He further held that case laws relied upon are distinguishable on facts. He accordingly held that the additions made are not justified. 10. Against the…

ITO 6(3)(2), Mumbai vs. Indo Energy International Ltd, Mumbai

In the result, the Revenue’s appeal and the assessee’s cross objection are allowed for statistical purposes

ITA 523/MUM/2016[2009-10]Status: DisposedITAT Mumbai19 Sept 2018AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

For Respondent: Shri Jitendra Jain

Section 147Section 148Section 68

…companies. The ld. Counsel of the assessee further placed reliance upon the following case laws: 1 ACIT Vs. Gagandeep Infrastructure Pvt. Ltd. [40 CCH 128](Mumbai) 2 CIT Vs. Gagandeep Infrastructure Pvt. Ltd. [394 ITR 680](Bombay) 3 Green Infra Ltd Vs. ITO [145 ITD 240](Mumbai) 4 CIT Vs. Green Infra Ltd [392 ITR 7](Bombay) 5 CIT Vs. Orchid Industries Pvt. Ltd. [397 ITR 136](Bombay) 6 ITO Vs. M/s Sringeri Technologies Pvt. Ltd. [ITA No.3924/Mum/2014] (ITAT Mumbai) 7 DCIT Vs. M/s Alcon Biosciences P Ltd [ITA No.l946/M/2016](ITAT Mumbai) 8 Khubchandani Healthparks Pvt. Ltd. Vs. ITO [384 ITR 322](Bombay) 8 M/s. In…

Brics Gilt Finance Ltd, Mumbai vs. DCIT Cir 1(1)(1), Mumbai

ITA 5320/MUM/2015[2008-09]Status: DisposedITAT Mumbai02 May 2018AY 2008-09

Bench: Shri G. S. Pannu, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 5320/Mum/2015 (निर्धारणवर्ा / Assessment Year:2008-09) Brics Gilt Finance Ltd. Dcit Cir 1(1)(1), Now Known As M/S Brics Aayakar Bhavan, बिधम/ Gilt Finance Pvt. Ltd. Mumbai, 1St Floor, Sadhna House, 570, Pin- Vs. P.H. Marg, Worli, Mumbai-400018. & आयकरअपीलसं./ I.T.A. No. 5685/Mum/2015 (निर्धारणवर्ा / Assessment Year: 2008-09) Dcit Cir 1(1)(1), Brics Gilt Finance Ltd. Aayakar Bhavan, Now Known As M/S Mumbai, Brics Gilt Finance Pvt. बिधम/ Pin- Ltd. Vs. 1St Floor, Sadhna House, 570, P.H. Marg, Worli, Mumbai-400018. स्थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacj8885B अपीऱाथीकीओरसे/ Appellant By : Sh. Vijay Mehta, Ar प्रत्यथीकीओरसे/Respondentby : Sh. T. Kepgen, Dr सुनवाईकीतारीख/ : 01/03/2018 Date Of Hearing घोषणाकीतारीख / : 02/05/2018 Date Of Pronouncement आदेश / O R D E R Per Shri Sandeep Gosain:

For Appellant: Sh. Vijay Mehta, ARFor Respondent: Sh. T. Kepgen, DR

Section 143(1)Section 143(3)Section 147Section 148Section 14A

…ons of Section 56(2)(vii) which are effective from April 1, 2013 and hence for the year under consideration such provisions cannot be invoked in the present case. This principle has also been followed by Hon'ble Mumbai ITAT in the case of Green Infra Limited (159 TTJ 728) (Mum). Ld. AR further submitted that in such circumstances, the Assessing Officer does not have any 'reasons to believe',as required under the provisions of Section 147 of the Act, to arrive at a conclusion there is any escapement of income as there is no 'income' to have ‘any reason to believe’ that there has been escapement of such income. If…

DCIT 1(2)(2), Mumbai vs. Om Sagar Engineering P. Ltd, Mumbai

ITA 4861/MUM/2016[2011-12]Status: DisposedITAT Mumbai01 Mar 2018AY 2011-12

For Appellant: Dr K. Sivaram/Shri Aditya AjgaonkarFor Respondent: Shri Rajat Mittal-DR

Section 143(3)Section 56(2)(vii)Section 68

…ee after-tax for the year under consideration was Rs.4,24, 69,844/-,that EPS of the assessee was Rs. 44,234/-,that it had charged premium of Rs. 10, 000/-per share. He referred to page number 18 of the paper book and relied upon the cases of Greeen Infra Ltd.(145 ITD 240) and Greeen Infra Ltd.(392 ITR 7). 5.We have heard the rival submissions and perused the material before us.We find that the assessee had received share premium money at the rate of 10,000/-per share,that the AO made an addition of Rs.2.97 crores to the income of the assessee invoking the provisions of section 68 of the Act,that it had obtained a…

Asst CIT 1(3)(1), Mumbai vs. Sankalp Corporate P. Ltd, Mumbai

In the result, this appeal by the Revenue stands dismissed

ITA 118/MUM/2016[2012-13]Status: DisposedITAT Mumbai14 Feb 2018AY 2012-13

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं./I.T.A. No.118/Mum/2016 ("नधा"रण वष" / Assessment Year: 2012-13) Asst. Cit-1(3)(1) M/S. Sankalp Corporate Pvt. Ltd. Room No. 564, 5Th Floor, Ground Floor, Sunbeam Chambers, बनाम/ Aayakar Bhawan, Opp. Liberty Cinema, New Marine Vs. M. K. Road, Mumbai-400 020 Lines, Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aancs 3998 P (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri V. Justin ""यथ" क" ओर से/Respondent By : Shri Prakash Jhunjhunwala

For Appellant: Shri V. JustinFor Respondent: Shri Prakash Jhunjhunwala

Section 68

…s Pvt Ltd 397 ITR 136 (Bom-HC) 2. CIT vs. Goa Sponge and Power Ltd ITA No. 16 of 2012 (Bom-HC) 3. ACIT vs. Gagandeep Infrastructure Pvt Ltd ITA No.5784/ Mum/ 2011 4. CIT vs. Gagandeep Infrastructure Pvt Ltd ITA 1613 of 2014 (Bom-HC) 5. Green Infra Ltd vs. ITO 38 Taxmann.com 253 (Mum-ITAT) 6. CIT vs. Green Infra 3 92 ITR 7 (Bom-HC) 7. CIT vs. Creative World Telefilms Ltd 333 ITR 100 (Bom-HC) 8. CIT vs. Expo Globe India Ltd 361ITR147(Del-HC) 7 Asst. CIT vs. M/s. Sankalp Corporate Pvt. Ltd. 9. Jaya Securities Ltd vs. CIT 166Taxmann7(All-HC) [SLP dismissed by Supreme Court] 10. Pr. CIT vs. Laxman Industrial Resource…

Asst CIT 25(2), Mumbai vs. Pratiksha Shah, Mumbai

The appeals of the Revenue are dismissed

ITA 3479/MUM/2014[2006-07]Status: DisposedITAT Mumbai03 Oct 2017AY 2006-07

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(1)Section 143(2)Section 153ASection 271(1)(c)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, सी, मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.1422 & 1423/Mum/2010 Assessment Years: 2005-06 and 2006-07 Smt. Pratiksha Shah, ACIT, A-602, Ekta Milan, Central Cirle-11, बनाम/ Devki Nagar, Eksar Village, Aayakar Bhavan, Vs. Borivali (W), M. K. Road, Mumbai Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.AAFPM4838D Assessment Year: 2005-06 ACIT-25(2), Smt. Pratiksha Shah, C-11,…

ACIT 25(2), Mumbai vs. Pratiksha B Shah, Mumbai

The appeals of the Revenue are dismissed

ITA 4655/MUM/2012[2005-06]Status: DisposedITAT Mumbai03 Oct 2017AY 2005-06

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 132Section 132(1)Section 143(2)Section 153ASection 271(1)(c)