Investment Pvt. Ltd. 210 Taxman 418(Gujarat) (x) Porrits & Spencer (Asia) Ltd. v. CIT

120 ITD 539Income Tax Appellate Tribunal2009#12070 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2026.

Sections most often in play

Section 143(2)Section 143(3)Section 147 Section 14A Section 28(iv)Section 112(1)Section 115JAA Section 133(6)

Issues it is cited on

fair market value transfer company

Judgments citing Investment Pvt. Ltd. 210 Taxman 418(Gujarat) (x) Porrits & Spencer (Asia) Ltd. v. CIT

ITO, New Delhi vs. Smt. Sudharshna Arora, New Delhi

In the result, grounds raised by the revenue are dismissed

ITA 1185/DEL/2010[2004-05]Status: DisposedITAT Delhi13 Mar 2026AY 2004-05

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumarita No.1185 /Del./2010, A.Y. 2004-05 Ito, Vs Smt. Sudharshna Arora Ward-24(4), . B-6/9, Vasant Vihar, New Delhi New Delhi Pan: Aaepa8154H (Appellant) (Respondent)

Section 143(1)Section 143(2)

…e to cast an almost impossible burden upon him to establish a negative, namely, that he did not receive any consideration beyond that declared by him." 6 CO No. 157/Del/2016 The Hon'ble ITAT in the case of Rupee Finance and Management Pvt. Ltd. reported in 120 ITD 539 (Mum) observed as under:- "There was no allegation much less, any evidence to show that the assessee had received monies in excess of amount of sale consideration recorded or disclosed in the transaction for the sale of shares, the first appellate authority had rightly noted that under section 48, the starting point for computation of capital gai…

Assistant Commissioner of Income Tax, Chennai vs. Buhari Holdings Privae Limited, Chennai

Appeal of the assessee is allowed

ITA 325/CHNY/2024[2010-11]Status: DisposedITAT Chennai29 Aug 2024AY 2010-11

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.325/Chny/2024 (िनधा"रणवष" / Assessment Year: 2010-2011) The Assistant Commissioner Of Vs. M/S. Buhari Holdings Pvt. Ltd, Income Tax, No.4, Buhari Towers, Corporate Circle 1(2) Moores Road, Chennai. Chennai 600 006. [Pan Aaacb 2679M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. G. Baskar, Advocate ""यथ" क" ओर से /Respondent By : Shri Arv Srinivasan, Irs, Addl Cit. सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 29.08.2024 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. G. Baskar, AdvocateFor Respondent: Shri ARV Srinivasan, IRS, Addl CIT

Section 143(3)Section 147Section 14ASection 28

…hat "this transaction is clearly a capital account transaction" and he was justified in deleting the addition. We uphold his order and dismiss the appeal of revenue. 6. The ITAT, Mumbai bench in the case of Rupee Finance & Management (P) Ltd., vs. ACIT (2009) 120 ITD 539 explained the scope of Section 28(iv) of the Income Tax Act in para 8.5 of the Order which reads as under : "8.5. Applying these propositions to the case on hand, the purchase of shares at a particular price which is below the market price as an investment is not income by any stretch of imagination. It cannot also be deemed as income under s. 2…

Hero Motocorp Ltd (As Successor of Hero Investment P.Ltd), New Delhi vs. DCIT, Circle 11(1), New Delhi

The appeal is allowed

ITA 1053/DEL/2023[2011-12]Status: DisposedITAT Delhi24 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER Assessment Year: 2011-12 Hero Motocorp Ltd. (as successor of Vs DCIT, Circle-11(1), Hero Investment P. Ltd.), New Delhi. Plot no. 2, The Grand Plaza, Nelson Mandela Road, Vasant Kunj, Phase-II, New Delhi-110070. PAN- AAACH 0812 J APPELLANT RESPONDENT Assessee represented by Shri Ajay Vohra, Sr. Adv.; Shri Deepesh jain, CA; & Shri Shaurya Jain CA Department represented by Shri T. James Singson, CIT( DR) 20.05.2024 Date of hearing Date of pronouncement 24.07.2024 O R D E…

M/S Everfine Constructions Pvt. Ltd., Mumbai vs. DCIT CC-7(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 3129/MUM/2019[2011-12]Status: DisposedITAT Mumbai16 Sept 2021AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Appellant: Shri Rushabh MehtaFor Respondent: Shri Sanjeev Kashyap

Section 133ASection 143(3)Section 147Section 148Section 68

…) in similar facts, where it was held as under:- “...We note that the CIT (A) had, while reversing the view of the Assessing Officer had inter alia, placed reliance upon the decision of the Tribunal in Rupee Finance & Management (P.) Ltd. v. Asstt. CIT [2008] 120 ITD 539 (Mum.). Mr. Mohanty the learned counsel for Revenue very fairly points out that the Revenue had filed an appeal against the order of the Tribunal in Rupee Finance and Management (P.) Ltd. (supra) to this Court being Income Tax Appeal No. 1208 of 2008. (CIT v. Rupee Finance & Management (P.) Ltd.). This Court by an order dated 20th October, 2008 h…

DCIT CC 2(4), Mumbai vs. Concord Enviro Systems P. Ltd, Mumbai

In the result, appeal filed by the revenue is allowed for statistical purpose

ITA 3897/MUM/2017[2010-11]Status: DisposedITAT Mumbai26 Jul 2021AY 2010-11

Section 56(1)Section 68

…17 M/s. Concord Enviro Systems Pvt. Ltd. is cases such as the present one. In this view of the matter in our considered opinion here as noted above since there is use of opaque colourable device the reference to ITAT decision in Rupee Finance and Management (120 ITD 539) does not fructify the assessee’s case. Thus, Ld.CIT(A) has erred in allowing the assessee’s appeal despite the fact that the assessee’s investment falls under provisions of section 69B. The decision of Hon’ble Bombay High Court in Vodafone India Services P. Ltd. (supra) is not at all applicable on the facts of the present case. In this regard, w…

Deputy Commissioner of Income Tax-14(2)(1), Mumbai vs. Instnat Holdings Private Ltd, Mumbai

The appeal stands dismissed

ITA 5627/MUM/2017[2010-11]Status: DisposedITAT Mumbai13 Sept 2019AY 2010-11

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5627/Mum/2017 (िनधा"रण वष" / Assessment Year:2010-11) Dcit-14(2)(1) M/S. Instant Holdings Pvt.Ltd. बनाम/ 432, Aaykar Bhavan 213, Bezzola Complex 4Th Floor, M.K. Road “B” Wing 71, Sion Trombay Road, Vs. Mumbai-400 020. Chembur, Mumbai-400 071. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aacck-5600-M (अपीलाथ"/Appellant) (""थ" / Respondent) : Revenue By : Shri Awungshi Gimson- Ld. Cit-Dr Assessee By : Shri Rakesh Mohan - Ld.Ar सुनवाई की तारीख/ : 28/06/2019 Date Of Hearing घोषणा की तारीख / : 13/09/2019 Date Of Pronouncement आदेश / O R D E R

For Appellant: Shri Rakesh Mohan - Ld.ARFor Respondent: Shri Awungshi Gimson- Ld. CIT-DR

Section 143(3)Section 391

…old at Rs.1126/- per share which was much higher than Net Asset value of Rs.362/- per share and also more than the listed priced of the shares. 5.2 We find support from the decision of this Tribunal rendered in Rupee Finance and Management Pvt. Ltd. Vs. ACIT [120 ITD 539] wherein it has been observed as under: - 13.1 ….there is no allegation much less, any evidence to show that these assessees before us have received monies in excess of amounts of sale consideration recorded and disclosed in the transaction for the sale of shares. The first appellate authority has rightly noted that under section 48 the starting…

Madhu Sarda, Mumbai vs. ITO 19(2)(4), Mumbai

In the result, the grounds of appeal raised by the

ITA 7410/MUM/2012[2006-07]Status: DisposedITAT Mumbai09 Mar 2018AY 2006-07

Bench: Shri B. R. Baskaran & Shri Pawan Singhin The Matter Of Mrs. Madhu Sarda , 38,Vikas Center, S.V. Road, Santacruz (West) Mumbai-400054 Pan: Aajps 5135R Appellant/ Assessee Versus Income Tax Officer, -19(4) Mumbai Respondent/ Revenue

For Respondent: Sh. V. Vidhyadhar (Sr.DR)

Section 143(3)Section 253Section 254(1)

…7] 77 taxmann.com 113(Madras) (viii) CIT vs. Special Prints Ltd 356 ITR 404(Gujarat) (ix) ACIT vs. Biraj Investment Pvt. Ltd. 210 Taxman 418(Gujarat) (x) Porrits & Spencer (Asia) Ltd. vs. CIT, 329 ITR 222(P&H) (xi) Rupee Finance & Management Pvt. Ltd vs. ACIT 120 ITD 539(Mum) (xii) Nariman Point Building Services & Trading Pvt. Ltd vs. CIT 54 SOT 7 (Mumbai) (xiii) Tainwala Chemicals & Plastics India Ltd. vs. ACIT 47 SOT 169(Mum) (xiv) Mishapar Investments Ltd. vs. ITO, 8 SOT 532(Mum) (xv) DCIT vs. Jindal Equipment Leasing and Consultancy Services Ltd. 131 ITD 263(Delhi) (xvi) ACIT vs. Turner Morrison & Co. Ltd. 4…

ACIT, New Delhi vs. Smt. Divya Jain, New Delhi

In the result, the Appeal of the Revenue Dismissed and Cross

ITA 4315/DEL/2011[2007-08]Status: DisposedITAT Delhi09 Oct 2015AY 2007-08

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Dr. Rakesh Gupta, AdvocateFor Respondent: Md. Mohsin Alam, CIT(DR)

Section 143(2)Section 153ASection 153C

…ITA NO. 4315/Del/2011 & CO No. 355/Del/2011 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A. No. 4315/Del/2011 A.Y. : 2007-08 ACIT, Central Circle-03, VS. Smt. Divya Jain, Room No. 355, 3rd floor, C-215, Vivek Vihar, Delhi Jhnadewalan Extension, (PAN: AECPJ4086M) New Delhi – 110 055 (APPELLANT) (RESPONDENT) AND C.O. No. 355/Del/2011 (In ITA No. 4315/Del/2011) A.Y. : 2007-08 Smt. Divya Jain, Vs. ACIT, Central Circle-03, 3rd C-215, Vivek Vihar, Delhi Room No. 355, floor, (PAN: AECPJ4086M) Jhnadewalan Extension, New…